AVEVA Group PLC Trading Update (9401P)
14 Febrero 2019 - 1:00AM
UK Regulatory
TIDMAVV
RNS Number : 9401P
AVEVA Group PLC
14 February 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 nine months ended 31 December 2018.
The trends seen in the first half continued into the third
quarter and AVEVA delivered low double-digit revenue growth in the
first nine months of the financial year. As in the first half, this
growth included the impact of strong sales execution, with some
benefit of upfront revenue recognition on multiyear rental
contracts.
As planned, the revenue mix has been positive. Software sales
grew at a faster rate compared to services resulting in a modest
improvement in gross margin. Operating margin also improved, albeit
with some additional costs being incurred due to a better than
expected 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 progressed well. Notwithstanding
the tougher comparative period in Q4, the outlook for full year
remains positive.
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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