Visma delivers impressive 24,5% top-line growth in the second quarter of 2021
Total revenue for the quarter was EUR 520 million, while EBITDA increased 23,2% to EUR 140 million.
Summary
Steady growth in all business areas
Visma’s core business areas grew substantially compared to Q2 of 2020. Visma Nordics grew by 23%; Visma Benelux by 20%; Visma Custom Solutions by 27%; and Visma’s geographical expansion areas in Central and Eastern Europe and Latin America by an impressive 71%.
Notable milestones
Visma reached an Annualized Repeatable Revenue of EUR 1 534 million, an increase of 21,4% compared to one year ago. Visma also grew 36,5% in cloud customer contracts year over year, and now serves 1 100 000 customers.
Revenues from cloud subscriptions and transactions continue to be Visma’s primary growth driver, increasing 36,2% year over year to EUR 274 million during the quarter.
Strong acquisition activity
Visma welcomed 12 new companies to the Visma family in Q2, most notably the fast-growing Holded, which offers ERP solutions in the Spanish market. In Romania, Visma expanded its offering by acquiring Keez, provider of a Solutions as a Service platform for payroll and accounting customers.
Q2 2021 by the numbers
| Continuing operations (EUR in millions) |
Q2 2021 actual | Q2 2020 actual | Growth | 1st half year 2021 actual | 1st half year 2020 actual | Growth | Year 2020 actual |
| Revenue | 520 | 418 | 24,5% | 1012 | 835 | 21,2% | 1741 |
| EBITDA | 140 | 114 | 23,2% | 274 | 221 | 24,1% | 500 |
| EBIT | 47 | 29 | 59,9% | 94 | 57 | 63,7% | 158 |
| Profit before tax | 17 | 11 | 54,2% | 42 | 13 | 224,8% | 68 |