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Cinven Partners LLP
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Email: Vanessa Maydon

Press releases

20 April 2016

Growth in revenue and EBITDA for Visma in the first quarter

Visma had a strong quarter with excellent top-line revenue and profit growth. SaaS and SaaS transactions continue to be the strongest driver of organic growth in Visma.


In the first quarter, Visma delivered revenue of NOK 2,416 million, compared with NOK 1,976 million in the same period last year, an increase of 22.2 percent. The EBITDA came in at NOK 477 million, compared with NOK 382 million in the first quarter 2015, representing an increase of 25.1 percent. Net cash flow from operations after tax in Q1, amounted to NOK 1,145 million versus NOK 950 million last year.

Strong revenue growth
SaaS and SaaS transactions continue to be the strongest driver of organic growth in Visma.
Revenue from SaaS Software solutions grew by 71 %, year-on-year, reaching NOK 435 million.

High acquisition activity
Visma continues its strategy of organic and acquisitive growth. The acquisition pace was very active during the first quarter with six completed transactions.

In Sweden, Visma has acquired both Abalon AB and Trimma AB. Abalon develops solutions for better customer insight through customer- and loyalty programs, and Trimma develops tools and services within business intelligence, analysis and budgeting. MIND4iT A/S was acquired to strengthen Visma's position within the IT consulting market in Denmark. In Norway, Visma has acquired both AS Dal Personalstøttesystem, a company with many years experience within payroll and personnel, and the ERP company Agrodata AS. In addition, Visma has acquired Numeron Oy, the leading workforce management software provider in Finland.

- Visma has several interesting new acquisition dialogues in process, some of which will be signed during the second quarter of 2016, says CEO of Visma, Øystein Moan.

The quarter had all-time high cash flow of NOK 1.1 billion that will continue to support an active acquisition strategy.

  1st quarter 2016       1st quarter 2015      Growth     
Revenue 2,416 1,976 22.2%
EBITDA 477 382 25.1%
EBIT 306 271 12.9%
Profit before tax              232 209 11.2%