New record quarter - Visma continues to grow 

Visma has done well throughout the financial crisis. Third quarter 2009 was another strong quarter for the company, and the best ever in terms of EBITDA which improved by over 30 percent compared with the same quarter last year.

Both revenue and profit were improved compared with the same quarter last year, indicating that the demand for Visma’s products and services are increasing.

In terms of profit third quarter came in as the historical best quarter ever, with an EBITDA of MNOK 177.5 compared to MNOK 135.7 in third quarter 2008. At the same time Visma’s revenue increased to MNOK 749.9 in third quarter 2009 up from MNOK 675.5 the same quarter last year. This provides a revenue growth of 11 percent. Net cash flow from operations after tax was MNOK 570.1 by the end of the quarter, compared to MNOK 456.2 in the same period last year.

Growth in all markets

The software division - Visma Software - delivered an organic growth of 5.5 percent.

- It is very satisfying that revenues from fixed agreements related to license, support and maintenance increased by 20.6 percent, says Øystein Moan, CEO of Visma.

The service division - Visma Services - continued the positive trend from last year and delivered an organic growth of 4 percent in third quarter.

- There is a strong demand for outsourcing services within accounting and payroll. This is partly due to a shortage of skilled accountants in the entire Nordic region. However after the financial crisis, there are also many companies, particularly large companies, who choose to outsource in order to reduce costs and to make costs more variable, the CEO explains.

The organic growth within the third division - Visma Financial & Productivity Services - was 1 percent. The weak growth is due to reduced demand for training and staffing services.

During third quarter the Retail segment was separated and launched as the fourth division in Visma. Organic growth for Visma Retail came in at 18.1 percent in third quarter 2009. Visma Retail has a solid basis for further growth, already being the leading supplier of Retail solutions in the Nordic region.

New acquisitions

Visma acquired companies for at total of MNOK 17.5 in third quarter. 
- In Norway we have acquired the entrepreneurial business Adeasy, which is one of few companies in the Norwegian market delivering solutions for tender proposals and offer completion for private companies. Based on the strategic value, this acquisition makes us a complete supplier of procurement solutions, says Øystein Moan.

Expects continued progress

- Revenue growth and profits in third quarter shows that we have been doing well throughout the financial crisis. We still expect continued progress for Visma throughout the year and in 2010, both in terms of revenue and profit margins, the CEO concludes. 


3rd quarter 2009

3rd quarter 2008





11.0 %




30.8 %




35.4 %

Profit before tax



0,4 %

For further information, please contact

Øystein Moan, CEO Visma, +47 920 80 000

Visma is the leading provider of efficiency increasing solutions in the Nordic Region based on a broad range of software, outsourcing solutions and administrative services. Visma simplifies and digitalize core business processes within private and public sector. The group has more than 3 400 employees and the company reached revenues of approximately EUR 340 million in 2008. The group’s websites are available at and

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