Visma delivered a solid financial performance in 2015. Fourth quarter was strong with excellent top-line revenue and profit growth. Revenue from SaaS Software solutions grew by 64 percent, year-on-year, reaching NOK 416 million.
In the fourth quarter, Visma delivered revenue of NOK 2 379 million, compared with NOK 1 907 million during the same period last year, an increase of 24.7 percent. The EBITDA came in at NOK 486 million, compared with NOK 370 million in the fourth quarter 2014, representing an increase of 31.4 percent. Net cash flow from operations after tax in Q4 was NOK 474 million versus NOK 408 million last year.
Double-digit growth in all divisions
Visma continues its strongest growth in the two Software divisions. Revenues in Software GLA grew by 31.9 percent and revenues in Software SMB grew by 26.8 percent, compared to the fourth quarter in 2014. BPO division continued the trend in increasing revenue growth rate, growing at 10.4 percent for the quarter.
The demand for SaaS services is steadily increasing. SaaS and SaaS transactions continue to be the strongest driver of organic growth in Visma. Revenue from SaaS Software solutions grew by 64 percent, for the last quarter 2015 compared to 4th quarter 2014, reaching NOK 416 million.
Acquisition activity in 2015
During 2015 Visma acquired several companies and strengthened its position both in existing and new markets. Visma strengthened Nordic leadership in cloud based ERP for the SMB segment with the acquisition of e-conomic and SpeedLedger. Visma expanded its business within HRM with the acquisition of Danish PBJ, Norwegian Huldt & Lillevik, and Swedish Aditro Public AB, and within the Finnish consulting business to business intelligence market with the acquisition of Viklo OY.
The acquisition activity was also high in the fourth quarter. Visma acquired DigitalBooker, a Finnish time-scheduling software company and Abalon, a business intelligence software company focusing on the retail segment in Sweden.
-These businesses will have meaningful market synergies with existing Visma business units. Visma will continue its strategy of organic and acquisitive growth. We have several interesting new acquisition dialogues in process, says Øystein Moan, CEO of Visma.