Estimated reading time: 0 minutes, 45 seconds

VISMA REVS RISE 24.5 PERCENT Featured

Still on the M&A path, Norway-based Visma reported a 24.5-percent rise in revenue for the second quarter ended June 30. Revenue for the software company, which operates in the Nordic countries, Benelux, Romania, Spain and Latin America, hit roughly $641.2 million for the most recently ended period.

Net income reached approximately $15.4 million, up 68.8 percent. Visma said cloud software and services now comprises 78 percent of revenue. The company purchased 12 businesses during the quarter, including Holded which brought into Spain. First-half revenue reached approximately $1.2 billion, rise of 21.2 percent over the corresponding period a year ago. The results for the half brought Visma to about $1.82 billion in what it called annualized repeatable revenue. Nordic countries, the biggest segment of operations, comprised 75 percent of revenue, roughly $243 million for the second quarter, an increase of 23.3 percent. Benelux revenue rose 19.9 percent to roughly $94.6 million. The software company’s Custom Solutions business hit $124.7 million in quarterly revenue, rising 26.9 percent.

Read 368 times
Rate this item
(0 votes)

Visit other PMG Sites:

click me
PMG360 is committed to protecting the privacy of the personal data we collect from our subscribers/agents/customers/exhibitors and sponsors. On May 25th, the European's GDPR policy will be enforced. Nothing is changing about your current settings or how your information is processed, however, we have made a few changes. We have updated our Privacy Policy and Cookie Policy to make it easier for you to understand what information we collect, how and why we collect it.