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Visma (VISMA) investor relations material

Visma Q2 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q2 2025 earnings summary4 Aug, 2025

Executive summary

  • Achieved robust growth in H1 2025, with revenue up 13.1% year-over-year to €1,553m and ARR reaching €2.8bn, driven by SaaS sales and M&A activity.

  • Customer base expanded by 12% to 2.1 million, with over 350,000 new customers added.

  • Completed 15 M&A transactions and divested Admincontrol, generating a net gain of €381m.

  • SaaS and cloud services accounted for 90% of revenue, reflecting a strong market position.

Financial highlights

  • Revenue: €1,553m in H1 2025, up 13.1% year-over-year.

  • Adjusted EBITDA: €493m, up 14.1% year-over-year, with a margin of 31.7%.

  • Adjusted net income: €260m, up 5.3% year-over-year.

  • Operating free cash flow: €524m, up 13.4% year-over-year.

  • Profit before tax: €546m, up 498.8% year-over-year, mainly due to the Admincontrol sale.

Outlook and guidance

  • Expects continued organic and acquisitive growth, focusing on Continental Europe and Latin America.

  • Anticipates resilient demand for mission-critical software despite global uncertainties and slower Nordic markets.

  • Plans to reinvest proceeds from Admincontrol sale into M&A.

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Frequently asked questions

Visma AS is a multinational technology company that provides a range of software and IT solutions aimed at streamlining business operations for enterprises, small and medium-sized businesses, and public sector organizations. Its product portfolio includes cloud-based applications for accounting, payroll, human resources management, procurement, and enterprise resource planning (ERP). The company also offers consulting and implementation services to support its software solutions. The company is headquartered in Oslo, Norway, and its shares are listed on the Oslo Stock Exchange.

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