Estimated reading time: 0 minutes, 56 seconds

VISMA RIDES M&A, CLOUD Featured

Acquisition-hungry Visma this week reported 21.9 percent revenue growth for 2019 with cloud revenue and new cmpanies adding to its operations. The Norway-based company has already bought six companies in Scandinavia and the Netherlands this year after picking up 20 in 2019.  

Net income for 2019 was roughly $93.2 million, a 4.2-percent increase over the bottom line the prior year. Revenue last year was approximately $1.46 billion. In its report the company said,  “Visma continues its strategy of organic and acquisitive growth and expects to continue the high acquisition pace." That included what it described as aggressive expansion in the Netherlands. On the other hand, the fourth-quarter report was prepared before the COVID-19 outbreak, which is not mentioned at all. Besides acquisitions in the Denmark, the Netherlands, Norway, Sweden—all of its markets other than Finland—Visma attributed the jump to SaaS revenue with annualized cloud sales of $1.18 billion, yearly growth of 31 percent.  Revenue from the company’s two largest divisions, SMB and Enterprise, totaled about $1.2 billion. Enterprise revenue was $609 million last year, 37.1-percent higher than in 2018 while SMB sales of approximately $595 billion rose by 15.9 percent over the prior year.

Read 1708 times
Rate this item
(0 votes)

Visit other PMG Sites: