Double-digit revenue and EBITDA growth as a pure software and cloud solutions company
Visma had a strong quarter with excellent top-line revenue and profit growth. Several SaaS acquisitions were completed during the quarter.
In the first quarter, Visma delivered revenue of NOK 2,101 million, compared with NOK 1,871 million in the same period last year, an increase of 12.3 percent. The EBITDA came in at NOK 467 million, compared with NOK 398 million in the first quarter 2016, representing an increase of 17.3 percent and an EBITDA margin of 22.2 percent. Net cash flow from operations after tax in Q1, amounted to NOK 1, 254 million versus NOK 1, 076 million last year.
Strong organic growth
Compared to the first quarter in 2016, revenues in the Enterprise segment grew by 17.8 percent and revenues in SMB grew by 11.2 percent.
SaaS and SaaS transactions continue to be the strongest driver of organic growth in Visma. SaaS solutions annualized repeatable revenue grew by 29.0 percent during the quarter.
Active acquisition pace
Visma continue its high tempo acquisition activity with eight completed transactions, among them six SaaS/cloud software businesses. Two of the acquisitions, Trollweb and Mystore.no, strengthens Visma’s position within e-commerce in Norway.
- Trollweb and Mystore.no are enjoying strong double-digit growth and will continue to thrive as they will enjoy the benefits of seamless integration with Visma ERP system in order to offer customers an even stronger product, says Øystein Moan, CEO Visma.
