Annual Report 2022
A pure play software company
Setting the standard – Leading in software
Despite a year of turbulence in global markets, we continued to grow by delivering mission-critical cloud software, giving our customers the financial confidence to succeed in a shifting business environment. This year, we explore the reasons for Visma’s sturdiness and our position as the largest network of SaaS companies in Europe.
Highlights
2022
“Joining the Visma family has been a strategic decision with the aim of creating the best foundation for our future development, and it was made with great care. Above all, it was about Visma really knowing our industry”, says Björn Jareblad, CEO of Flex Applications.
Building a software powerhouse through M&A
Visma invested a record amount in new acquisitions in 2022, welcoming a total of 42 companies in 8 countries. These included our first acquisitions in France and Germany, underlining the potential we see for cloud software to accelerate the digitalisation of Europe’s private and public sector.
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Why do we sponsor the world’s best cycling team?
Team Jumbo-Visma reached new heights in 2022, setting a new standard for elite road cycling. Visma reached new heights, too – from sky-high internal pride to increased brand awareness in our markets.
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Financials
2022 was yet another year with double-digit growth in revenue and EBITDA, in line with our excellent track record for growth. Even in the challenging macroeconomic climate today, we continue our growth on both the top and bottom line, through organic growth and acquisitions.
Key figures 2022
2 056 475
Operating revenues (EUR 1 000)
586 743
EBITDA (EUR 1 000)
19,1%
Growth
13 880
Employees
Highlights from the Directors' Report
Our profitable growth was driven by increased organic sales and acquisitions of 42 new software companies. In a period of rising concerns about inflation, higher interest rates, and a more uncertain geopolitical situation, we once again demonstrated the resilience of our business model. By the end of 2022, we counted 1,4 million customers, which is up 26% from 2021.
Key Figures – Visma Group
EUR (MM)
* Figures have been adjusted to reflect continuing operations only
** from continuing and discontinued operations after minority interests
Key Figures – Visma Group
EUR Million
Sustainability highlights
2022
Key sustainability figures 2022
14 329
tCO2e (Total net emissions)
1.30
tCO2e (Total net emissions per FTE)
61
Employee Net Promoter Score (employee satisfaction framework, ranges from –100 to +100)
41%
women
Comment from the Sustainability team
In 2022, Visma has set a greater focus on sustainability. We see both the responsibilities we have, and potential for us to improve further. Visma’s profile continues to grow, and we’re happy to include more ESG software into our portfolio.
The year ahead
Visma will continue to do what we do best: build locally relevant and standardised cloud software that automates business administration, connects data, keeps societies running efficiently, and gives companies the financial confidence they are after.
A pure play software company
In 2022, we’ve looked at how we can give our customers more of that confidence – to be there for them, in good times and bad times, so that they can focus on their business. And to help them focus, we’ve sharpened our focus.
Our presence, and growing
Visma operates across the entire Nordic region along with Benelux, Continental Europe, and Latin America. We have a wide network of distributors and partners and maintain a virtual development organisation (R&D) across borders.
Outlook for 2023
The beginning of 2023 is still very much characterised by uncertainty, with the war in Ukraine as a backdrop. After a period of rapid increase, inflation and interest rates are expected to stabilise during the course of the year, but economic growth in key markets is slowing down.
Visma is well positioned in the face of a potential economic downturn, being a provider of mission-critical software, with a diversified customer portfolio, and a high degree of repeatable revenue.
There are substantial growth opportunities in both new and current markets, and Visma expects to maintain an active M&A agenda in 2023, capitalising on the interesting M&A opportunities that fit the Group’s strategy and profile.
20 March 2023, Visma Board of Directors
