Visma releases 2021 annual report, enters third decade of steady, year-over-year growth

2021 revenue increased 20% to EUR 2,1 billion, while EBITDA grew 28% to EUR 590 million. Visma also set a new record for acquisitions with 42 companies joining the Visma family.

See the highlights and download the report

Over two decades of continuous growth

Visma enters 2022 with 21 consecutive years of steady growth. Visma began the 2000s with EUR 52 million in revenue, 1 570 employees, and a modest but growing Nordic presence. Since then, Visma has become a truly international and leading software company, operating across the Nordics, Benelux, Continental Europe and Latin America, with a revenue of EUR 2,1 billion and over 14 000 employees in over 20 countries.

Growth in all key business areas

Covid may have maintained its strain on the global economy in 2021, but Visma was steadfast in its growth. In addition to total revenue increasing 20% year over year to EUR 2 081 million, EBITDA grew 28% to EUR 590 million.

All four of Visma’s main business areas achieved double-digit growth for the year. In the Nordics, Visma increased its revenue 20% to EUR 1 190 million. Benelux saw an increase of 21% to EUR 347 million. Custom Solutions’ revenue grew 16% to EUR 384 million. And Visma’s geographic expansion areas achieved growth of 63% to EUR 61 million.

Sustainability milestones reached

Visma has been hard at work in 2021 to measure its social and environmental impacts for long-term improvement. It was the first year that Visma completed group-wide collection of its baseline environmental data, which will make setting targets and tracking progress more streamlined in the years to come.

The sustainability report also highlights Visma’s position in the top 20% of the IT industry for employee engagement, one of the most important metrics for recruiting and retaining talent.

The trend towards cloud adoption continues

Organisations continued to invest in digital solutions at a record rate in 2021, showing that 2020’s “fast forward” in cloud software adoption was no outlier. Companies and the public sector recognise the value of cloud software for remote productivity.

Visma’s leading cloud delivery was reflected in its steadily growing cloud revenue, which increased 25% to EUR 1 625 million. Demand for cloud solutions will continue to climb as organisations of all sizes seize on the convenience, flexibility, and cost-effectiveness of cloud software.

A record number of acquisitions

Visma had a record 42 acquisitions for the year. Among the most notable were companies in two new markets: Holded, a Spanish provider of cloud ERP and accounting software, and Prosaldo.net, an Austrian pioneer in cloud-based accounting and invoicing. The Benelux region was once again a high priority, with 10 companies in the Netherlands and Belgium joining the Visma family.

In 2022, Visma’s focus continues to be on acquiring successful cloud companies, and being the preferred partner for promising tech entrepreneurs to take their businesses to the next level.

Visma CEO: Visma poised to continue growth

Visma’s CEO, Merete Hverven, had this to say: “Visma’s over two decades of steady growth would not have been possible without our incredibly talented employees who work every day to develop and deliver world-class cloud technology. Our dedicated employees, combined with our supportive investors and international network, give us a unique edge when it comes to meeting businesses’ growing demand for cloud technology in the next decade.”

2021 by the numbers

EUR in millions - 2021 IFRS - 2020 IFRS  - Growth

Revenue             - 2 081         - 1 741          - 20%

EBITDA               - 590           - 500             - 28%

Visma is a leading provider of mission-critical business software for a more efficient and resilient society. By simplifying and automating the work of companies and organisations of all sizes, we improve people’s everyday lives. With 14,000 employees, 1,200,000 private and public sector customers across the Nordics, Benelux, Central and Eastern Europe and Latin America, and net revenue of € 2,081 million in 2021, we are committed to making tomorrow better than today. Visit us at visma.com.