.jpg)
During 2024, the persistent geopolitical instability had minimal direct impact on Visma's operations. However, Visma remains affected by the broader macroeconomic environment. The reduction in inflation in 2024 has allowed interest rates to reduce, although they remain above pre-COVID levels.
In this challenging environment, Visma continues to be a vital provider of critical software solutions, enabling customers to enhance and optimise their businesses. The commitment to this mission is key to success. Visma sustained its expansion in both revenue and profit margins, serving a record number of 2 million customers. In 2024, Visma experienced another successful year, achieving growth both organically and through acquisitions, across all of its segments.
By the end of the year, the Group had acquired 33 new companies, broadening Visma's presence in both new and established markets. Visma is committed to supporting clients by offering essential software solutions that enhance business management and improve efficiency. With its strategic market presence, strong customer base, and significant recurring revenue, the Group continues to reinforce its position as a leader in business software, establishing a solid foundation for continuous growth in 2025.
The total revenue growth in 2024 was 17.3 per cent, reaching EUR 2,804 million. EBITDA reached EUR 893 million, reflecting a margin of 31.8 per cent. Visma enjoyed growth across all of its segments in 2024:
Small Business
- Revenue was EUR 947 million, a growth of 27.6 per cent
- EBITDA was EUR 376 million
Medium Business
- EUR 504 million, a growth of 8.3 per cent
- EBITDA was EUR 132 million
Ecosystem
- EUR 661 million, a growth of 18.8 per cent
- EBITDA was EUR 190 million
Public
- EUR 565 million, a growth of 18.0 per cent
- EBITDA was EUR 159 million
Acquisitions
In 2024, Visma continued its expansion in both new and existing markets through a total of 33 acquisitions.
During the year, Visma expanded its presence in the French market with the acquisitions of Teledec Chaintrust, MyCompanyFiles, Finthesis and quarksUp. In the second quarter, Visma made its first entry into Italy with the acquisition of Fiscozen, a SaaS platform for tax advisors. Another new geography, Croatia, was entered through the acquisition of Moj eRačun. This company delivers an eInvoicing cloud solution integrated with more than 400 ERP systems, and is the natural choice for businesses preparing for mandatory business to business invoicing in Croatia from 2025. In the fourth quarter, tugesto was acquired, adding to Visma's HR tech offerings in Spain. All of these acquisitions enhance Visma's presence in Continental Europe, a strategically important market for Visma.
Visma increased its presence in Belgium in 2024 through several acquisitions, including Dexxter, Bizzcontrol, In Good Company, and Mobilexpense. These acquisitions expand the Group's footprint in the Public, Medium Business, and Ecosystem segments in Belgium, reaching both public and private customers. In the Netherlands, TimeChimp joined Visma’s portfolio, further elevating the Group's Ecosystem segment.
During 2024, Visma also expanded its presence in Germany through its acquisition of Pathway solutions, a rising star in eCommerce solutions for the German market.
In the Latam market, the Group's HR tech offering was strengthened through the acquisition of the Rex+ Group, further demonstrating Visma's commitment to growth outside of Europe.
Several acquisitions were made in the Nordic region throughout the year. Notably, Visma acquired Vesitieto in Finland, strengthening the Public segment, and Vieri in the Medium Business segment in Norway. In Denmark, the company bolstered its offerings by acquiring Zebon, Meebook, November First, and Securelogin. In Sweden, acquisitions like Krogdirekt, Accountec, Winvoice (previously an investment in associate), and Samverkan strengthened Visma’s position across various market segments.
Initiatives for our people
Visma aspires to be the most inspiring and engaging place to work. Employee competencies are fundamental to delivering exceptional value to Visma's customers and stakeholders, as well as ensuring the company’s long-term success. Therefore, Visma is committed to cultivating personal growth and unlocking the potential of all employees, both locally and at the Group level. Company-wide initiatives include leadership development, learning communities, and a variety of online training sessions and webinars available to all employees.
In 2024, Visma continued enhancing its platform, Visma Learn, ensuring that mandatory courses are more engaging and impactful than ever. The platform offers an extensive array of online resources covering essential topics like Workplace efficiency, Security, Sustainability, and Customer Success. Visma's 20 different peer-to-peer communities, alongside internal events such as the Customer Experience Meetup, AI in Product day, Data Summit, and User Experience Days, enable colleagues to connect, share knowledge, and seek advice from fellow professionals.
Over 600 new leaders participated in the Visma Leadership Onboarding programme, where they were introduced to fundamental leadership skills that define the Visma way of leading. Furthermore, Visma introduced 55 top leader talents from across the organisation to its internal leadership development programme, Visma Management Academy. The programme covers topics like Visma's strategy and tech trends including AI, security, and product discovery. In 2024, Visma changed its approach from hosting online sessions twice per year to on-site gatherings once per year, prioritising networking possibilities.
Visma regularly conducts employee engagement surveys to monitor the organisation's culture and employee wellbeing. This real-time data enables leaders and HR teams to take swift, impactful actions, involving their teams in the process to make Visma a great place to work.
As of December 2024, Visma achieved an eNPS score of 64, marking an improvement of 2 points from December 2023. This places Visma in the top 5 per cent of the technology sector. Additionally, the company is ranked in the top 5 per cent for Diversity & Inclusion, and in the top 10 per cent for Leadership and Health & Wellbeing.
