Source - RNS
RNS Number : 4821W
AVEVA Group PLC
18 April 2019
 

AVEVA GROUP PLC

 

Trading Update

 

AVEVA Group plc ('AVEVA' or 'the Group'), a global leader in engineering and industrial software, provides a trading update for the year ended 31 March 2019.

 

The positive performance seen in the first nine months of the year continued in the fourth quarter and AVEVA delivered low double-digit revenue growth on a full year, pro forma IFRS 15 basis, compared to the prior year. As in the first 9 months, this growth included some benefit from upfront revenue recognition on multiyear rental contracts.

 

Full year operating margins improved, albeit with additional costs being incurred due to the strong sales performance, together with investment to ensure that AVEVA is optimally positioned to capture future growth opportunities.

 

The integration of the heritage AVEVA and Schneider Electric industrial software business has continued to progress well. As AVEVA starts the new financial year, further progress is expected on delivering medium-term targets, with a focus on transition to rental and subscription licencing.

 

AVEVA will announce its results for the year ended 31 March 2019 on 29 May 2019.

 

 

 

Enquiries:

 

AVEVA Group plc

Matt Springett, Head of Investor Relations

Tel: 01223 556 676

 

FTI Consulting LLP

Edward Bridges / Dwight Burden

Tel: 020 3727 1000

 


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