🇳🇴 Visma rounds off 2023 with strong growth and ARR of 2.3 billion

January 26, 2024
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Visma rounds off 2023 with strong growth and ARR of 2.3 billion

Visma achieved revenue of EUR 651 million in the fourth quarter of 2023, up 17 percent from the same period in 2022, with growth driven both by increased sales to existing and new customers and M&A. EBITDA ended at 193 million euros, up 24 percent year-over-year.

Annualised Repeatable Revenue (ARR) stood at a record-high level of EUR 2.3 billion at the end of December, representing a growth of 23% year-over-year. The Group now serves 1.7 million customers across Europe and Latin America, an increase of 16 percent compared to the end of Q4 2022.

“We continue to grow and expand our mission-critical software business, by meeting our customer’s need for smart digital solutions to drive efficiency, innovation and competitiveness”, says Merete Hverven, CEO of Visma.

Seven acquisitions

Visma completed a total of seven acquisitions in Q4. In Denmark, the Group made its first venture into the legal tech market through the acquisition of iVision, a leading provider of administration software for law firms.

In Norway, the portfolio of ESG reporting tools was expanded through an investment in Ducky, a provider of innovative, data-driven solutions that help companies measure, analyse and improve their sustainability profile. The acquisition of Silverfin, Belgium’s leading provider of cloud software for accountants, was also completed during Q4.

“Visma remains an attractive owner and growth partner for software entrepreneurs, especially in periods of more economic uncertainty like we currently have now, and I expect us to grow considerably through acquisitions also in 2024”, says Hverven.

Valued at 19 billion euros

At the end of the quarter, Visma announced an expansion of its shareholder base through a secondary sale of shares to leading international investors.

The transaction values Visma at 19 billion euros, and welcomes around 20 new investors worth over one billion euros of equity investment.

“I’m also happy to see the continued support from our existing owners, including majority shareholder Hg, who in total have committed around 3 billion euros in new investment. Backed by a solid and knowledgeable shareholder base, Visma is in a great position to continue its unique growth journey”, says Hverven.

Read the full report here.

Key highlights for Q4 2023:

  • Revenue of EUR 651 million, 17% growth year-over-year
  • EBITDA of EUR 193 million, 24% growth year-over-year
  • Annualised Repeatable Revenue (ARR) reached EUR 2 296 million
  • Closed 7 acquisitions during the quarter

Q4 2023 by the numbers

Figures in MEUR Q4 23 Q4 22 Change
Revenue 651 558 +17%
EBITDA 193 155 +24%
Net income from continuing operations -1 85 -101%

For more information, please contact:

Lage Bøhren, Director of Communications at Visma, +47 921 57 801

[email protected]

About Visma

Visma is a leading provider of mission-critical cloud software, with revenue of € 2.06 billion in 2022, 15,000 employees and 1.7 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.


Originally published on 25 January by Visma.

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