VISMA

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Om visma

 

Visma er et norsk selskap som tilbyr ERP programvare og outsourcing. Visma

har 1,749 ansatte og omsetningen i 2002 var på 1 152 millioner kroner.

 

Programvare

Visma Software leverer programvare for økonomistyring og logistikk med integrerte åpne løsninger for CRM, lønn, e-handel, og time/prosjektstyring. Programvare tilpasset spesielle bransjer, eksempelvis advokat, regnskapsbyrå, lokal forvaltning og contracting er også strategisk. I tillegg til programvare leveres konsulenttjenester, support, kurs og ASP-løsninger.Softwareområdet har egen representasjon i Norge, Sverige, Danmark og Finland. I tillegg distribueres programvare via distributører og forhandlere i Storbritannia, Tyskland, Russland,

Polen og de baltiske stater. Mer enn 130.000 installasjoner kjører en programvare fra Visma Software.

 

 

Outsourcing

Visma er leverandør av outsourcingstjenester innen regnskap, lønn, inkasso og bemanning. Vi tar ansvaret for ikke-strategiske, men finansielt kritiske forretningsprosesser, slik at våre kunder kan konsentrere seg om egen kjernevirksomhet. Ved hjelp av moderne teknologi, hjelper vi våre kunder med å finne de beste løsninger for å sikre optimal og effektiv drift. Visma Services er lokalisert i Norge, Sverige, Danmark og Finland.

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VIS - RESULTS OF 1ST QUARTER 2005

12.04.2005 07:44

 

In the 1st quarter of 2005, Visma achieved revenues of MNOK

468 (432). The growth is mainly due to acquisitions during

the last 12 months. EBITDA in the 1st quarter was MNOK 60

(57), EBITA in the 1st quarter was MNOK 54 (50), EBIT was

42 (44) and EBT was 41 (70). In the first quarter of 2004,

Visma had a financial gain of MNOK 40 from sales of shares

in SuperOffice ASA.

The EBITDA-margin of 13% was at the same level as in the

1st quarter of 2004. Visma Software slightly improved

margins from 2004, while the new division Visma Financial &

Productivity Services achieved EBITDA-margins of 14%.

Considering the Easter vacation-time reducing available

workdays in March 2005 compared to March 2004, the achieved

revenue and profits are satisfactory.

 

Accounting principles

This report compares the company`s reported figures for the

corresponding period in 2004 (in brackets), and is prepared

according to IAS 34 (IFRS). Visma was one of the first

companies on the Oslo Stock Exchange to issue a complete

IFRS transition document. IAS 32 and IAS 39 are implemented

as of January 1, 2005. For further information about the

transition to IFRS, please refer to the IFRS transition

document released on March 18, 2005.

 

Comments on the results in the first quarter of 2005

The results in the first quarter are influenced by the

Easter vacation that fell within March in 2005. Considering

this seasonality effect the achieved results are

satisfactory. Both revenues and EBITDA improved organically

over the first quarter of 2004.

Visma has not capitalised any R&D expenses. IFRS (IAS 38)

is even more specific than NGAAP on what may be

capitalised, and Visma had no projects in the first quarter

to capitalise according to IFRS.

Net cash-flow from operations at MNOK 255 (299) is high,

but is somewhat lower than 2004, when Visma had MNOK 40 in

proceedings from sales of SuperOffice shares. Most tax

payable for 2004 fell within the first quarter of 2005, and

some maintenance agreements were invoiced late in the first

quarter of 2005 due to internal re-organisations.

Net cash was MNOK 257 at the end of the first quarter.

Dividend of MNOK 79 was paid during March and a total of

MNOK 144 was spent on acquisitions of companies and of

minority interests in partly owned companies. DSO (Days of

Sales Outstanding) was 43 days. DSO has increased from the

first quarter of 2004 due to the late invoicing of some

maintenance contracts. This will have no impact on the cash-

flow for the full year, and the effect will be neutralised

during the second quarter.

 

Visma Services

Visma Services had organic revenue increase of 20% compared

to the fourth quarter of 2004. Organic revenue growth

compared to first quarter of 2004 is -2%, and this is due

to the Easter effect. With the high percentage of

consulting revenue, Services is strongly influenced by this

seasonality. In local currencies the growth is about 0%.

Several units of Visma Services report increasing demand

for out-sourcing services. Services Norway has normal

development, and their revenue is according to

expectations. Revenue decline in Services Sweden is mostly

due to internal reorganisation and integration. Visma

Services Finland had flat revenue development in the local

currency, but achieved a solid margin of 27%. The organic

growth of 39% in Services Denmark is very encouraging. The

reason for the strong growth is that Services Denmark is

the only large accounting outsourcing company independent

of auditing firms. Multinational companies complying with

the US Sarbanes Oxley rules can no longer allow the

external auditor to provide accounting services. An

enterprising management team of Service Denmark acts on

this opportunity, and Services Denmark receives about 20

new multinational clients per month.

The first quarter for 2005 reporting is the first with a

full geographical break-down of Visma Services.

 

Visma Software

In the first quarter of 2005, Visma Software achieved

EBITDA-margins of 17% (16%) on revenue of MNOK 254 (247).

The revenue growth was only 3%, and this is partly

explained by the divesture of Spectrum Software AS.

Spectrum Software was a reseller owned by Visma, and to

remove potential channel conflicts the entity was sold at

the beginning of the quarter. Recurring revenues from

annual license and support agreements amounted to MNOK 143

in the first quarter, and this is 56,2% of the total

revenue. This is an all time high percentage. The Easter

had most negative effect on consulting and implementation

as there were fewer working days.

Expenses related to re-organisation in Denmark reduced

margins in Norway/Denmark, and margins are expected to

increase for the rest of the year. Margins in Software

Sweden showed a strong improvement. This is due to good

performance in Visma SPCS. In the second half of 2005 there

will be extra marketing activities as part of the re-

branding of all Swedish entities to the Visma brand-name.

Finland showed a healthy growth, but somewhat lower margins

due to integration of the newly acquired company Econet.

In all our markets there is growing demand for ERP

integration products as Visma Ecosystem and Visma Invoice

Manager. Visma will facilitate reduced cost-levels for

Nordic business and public sector through electronic

commercial documents and seamless integration between

different ERP-systems.

 

Visma Financial & Productivity Services

This unit was established as a separate division from the

first quarter of 2005. A strong result improvement over the

first quarter of 2004 and healthy organic revenue growth of

14% were achieved. Organically EBITDA-margins improved from

3% to 14%. All the entities of Visma F&P Services improved,

but the software training unit, Visma Ajourit, was still

not profitable in the first quarter. Visma Ajourit improved

over 2004, and during the rest of 2005 profit is expected.

The Swedish debt/invoice collecting unit, Visma Collectors,

exceeded expectations. At 12% EBITDA-margin in Visma

Personnel, the EBITDA is doubled from first quarter 2004.

The procurement services unit Visma Advantage had a total

revenue growth of 75% including the acquisition of Ibistic

Pool. Visma will continue developing the new F&P Services

division both through acquisitions and organically. The

progress is expected to continue during the rest of 2005

provided that the current business climate prevails.

 

The future

The Nordic business climate is positive, and with low

interest rates, the positive trends are expected to

continue for the rest of 2005. Visma will use its positive

cash-flow to continue consolidating the Nordic ERP and

outsourcing market.

 

For further information, contact:

Visma ASA, VP IR Liv Marit Lundby, phone +47 901 69 866

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VIS - VISMA HAS SIGNED NEW CONTRACTS

12.04.2005 08:00

 

Visma Services Norge AS in Asker & Bærum has specialised in

a new line of business, concerning estate agent broker

accounting and has signed an agreement with Terra Aktiv

Eiendomsmegling AS concerning establishing an estate agent

broker accounting department. The agreement is intended

effective from 1 April 2005 and the value of the contract

is estimated to MNOK 36 over the next three years with an

option for renewal for periods of one year.

 

In addition, Visma Services Norge AS has signed a similar

agreement with Ring Eiendomsmegling AS, also concerning

establishing an estate agent broker accounting department.

This agreement is intended effective from 1 January 2005

and the value is estimated to MNOK 15 over the next three

years with an option for renewal for periods of one year.

 

For both Terra Aktiv Eiendomsmegling AS and Ring

Eiendomsmegling AS, the existing agreements regarding

outsourcing of accounting are continued. These agreements

are established to simplify business and achieve high

efficiency. Visma Services will co-operate with Terra Aktiv

Eiendomsmegling AS and Ring Eiendomsmegling AS on

implementation and establishment of the new department.

 

 

For more information, please contact:

 

Visma ASA, CEO Øystein Moan, phone: +47 23 15 80 00

Visma Services ASA, CEO Ada Kjeseth, phone: +47 90 06 08 34

Terra Aktiv Eiendomsmegling AS, CEO Ragnar Gullhaugen,

phone: +47 87 81 00

Ring Eiendomsmegling AS, CEO Hans Christian Børresen,

phone: +47 23 89 69 70

[Bushwhacker]

Visma skuffet

 

Tirsdag 12. april 2005 kl. 07:57

Skrevet av: Sigvald Sveinbjørnsson - iMarkedet

 

Visma, her ved toppsjef Øystein Moan, la frem svakere resultat for første kvartal enn det analytikerne hadde forventet. Påsken får skylden:

Visma kunne tirsdag morgen fremlegge sine kvartalsresultat for første kvartal.

 

Selskapet meldte om en omsetning på 468 millioner kroner, mot 432 millioner kroner samme periode i fjor. Det var ventet en omsetning på 471 millioner kroner viser en sammenstilling TDN Finans har foretatt.

 

Selskapets resultat før av- og nedskrivninger samt skatt og finans (EBITDA) endte på 60 millioner kroner mot 57 millioner kroner samme periode året før. Det var ventet 62 millioner kroner blant analytikerne.

 

Driftsresultatet endte på 42 millioner kroner, mot 44 millioner kroner samme periode året før. Det var ventet 47 millioner kroner fra analytikerne.

 

Resultat før skatt endte på 41 millioner kroner, mot 70 millioner kroner samme kvartal i fjor – som også inkluderer 40 millioner kroner i gevinst på salg av aksjer i SuperOffice. Det var ventet et resultat før skatt på 48 millioner kroner.

 

I meldingen skriver selskapet at hensyntatt at påsken kom i første kvartal, noe som førte til færre virkedager enn vanlig, er de godt fornøyd med omsetningen og resultat.

[Pantera]

Visma(VIS) KURS 70,50

 

 

Visma ligger i en fallende trend, men tester nå gulvet i trendkanalen. Dette kan gi en reaksjon opp, mens det på sikt indikeres videre nedgang innenfor trendkanalen. Ga salgssignal fra en rektangelformasjon ved bruddet ned gjennom støtten ved 70.63 kr. Videre nedgang til 66.43 kr eller lavere er signalisert. Aksjen har motstand ved ca 71.30 kr. Aksjen anses samlet sett teknisk negativ på kort sikt.