Back to Newsroom

Visma releases 2020 annual report: Fast Forward—Software for society

Financials
photo of Visma's 2020 annual report entitled Fast Forward—Software for society

In an unconventional year, Visma achieved excellent growth and record acquisition pace in 2020. Total revenue increased 26% to NOK 18 675 million, while EBITDA grew 35% to NOK 5 367 million.

Interactive PDF: View in browser | Download

 

Summary

The importance of cloud software has never been clearer

The Covid-19 pandemic has illustrated that companies providing mission-critical cloud software create substantial value and are especially resilient.

In spite of an uncertain global economy throughout most of 2020, Visma continued its strong growth across the Nordics, Benelux, and Central and Eastern Europe. Total revenue increased 26% to NOK 18 675 million, while EBITDA grew 35% to NOK 5 367 million.

The Benelux region was once again a highly strategic area for Visma, as the company acquired 11 companies in the Netherlands and firmly established itself in the Belgian market with several key acquisitions. In total, 37 companies joined the Visma family in 2020.

Solid revenue growth across divisions

Visma’s four divisions achieved double-digit growth in 2020.

Software Nordic & International increased revenue 21% to NOK 9 534 million. Software Benelux saw an increase of 28% to NOK 2 834 million. Custom Solutions’ revenue grew 34,0 per cent to NOK 3 709 million. Commerce Solutions achieved growth of 34% to NOK 1 598 million.

The future is cloud

Growth in Visma’s cloud revenue was particularly strong, increasing 31% to NOK 14 000 million in 2020 compared to 2019. Demand for cloud solutions will continue to climb as organisations of all sizes seize on the convenience, flexibility, and cost-effectiveness of cloud software.

Visma has become one of the largest cloud software businesses in Europe, with over a million customers at the end of 2020. Our 12 500 employees are ready and eager to help existing and new customers become more efficient, stay ahead of the competition, and grow.

2020 by the numbers

NOK in millions 2020 IFRS 2019 IFRS Growth

Revenue

18 675

15 028

26%

EBITDA

5 367

4 061

35%

For more information, please contact:

Merete Hverven, CEO of Visma: +47 48 02 14 15