Visma continues growth and sharpens AI focus
Visma maintained its strong momentum in Q2, with revenue growing by 15 percent. Generative AI is rapidly being adopted across the Group to improve products and business functions, with more than 180 AI projects ongoing.
Visma reported revenue of EUR 579 million in the second quarter of 2023, a growth of 15 percent compared to the same period last year. EBITDA was EUR 148 million, up 24 percent from Q2 22.
At the end of Q2, Visma’s Annualized Repeatable Revenue (ARR) reached a new record level of EUR 2 069 million, up 23 percent compared to the same period last year.
“Visma still sees healthy demand for its mission-critical software across its key markets. Businesses continue to invest in digitalisation and automation to unlock efficiency gains and improve their financial control, and the current environment of high inflation and tight labour markets should amplify this trend further”, says Merete Hverven, CEO of Visma.
AI focus
Visma is closely monitoring and taking advantage of opportunities surfacing due to the rapid development of generative AI.
More than 180 AI initiatives are currently ongoing across Group companies, resulting in new automation within Visma products as well as internal functions, particularly within software development and customer support.
One example is a new API support bot developed by Visma Dinero in Denmark, which is already handling more than 50 percent of all incoming customer support requests successfully.
“I look forward to sharing more details about these projects as they progress, but what I can state already is that generative AI offers huge potential as a driver of efficiency and customer satisfaction, both for Visma and our customers”, says Hverven.
17 acquisitions in 2023
Visma now serves 1.6 million customers across Europe and Latin America, an increase of 20 percent over the last twelve months.
In addition to strong organic growth, M&A remains an important growth driver for the Group both in new and existing markets.
Visma made seven acquisitions in the second quarter, including its first entry into the public health software market in the Netherlands with Zorgdomein.
“17 new companies have joined Visma so far in 2023, and I expect us to be busy on this front also in the second half of the year”, Hverven says.
Key highlights for Q2 2023:
- Revenue of EUR 579 million, 15% growth year-over-year
- EBITDA of EUR 164 million, 24% growth year-over-year
- Annualized Repeatable Revenue reached EUR 2 069 million
- Closed seven acquisitions during the quarter
Q2 2023 by the numbers
For more information, please contact:
Lage Bøhren, Head of Communication +47 921 57 801
About Visma
Visma is a leading provider of mission-critical cloud software, with revenue of € 2.06 billion in 2022, 14,500 employees and 1.6 million customers across Europe and Latin America. By simplifying and automating the work of businesses and organisations of all sizes, we enable a more efficient and prosperous society. Visit us at visma.com.
