CIMdata PLM Industry Summary Online Archive

16 October 2009

Financial News

AVEVA Group plc Trading Update

Following the completion of its half year to 30 September 2009, AVEVA Group plc, announced the following trading update.

Overall the first six months have seen a robust performance for the Group with trading slightly ahead of the Board's expectations.

Whilst the trading environment for large new capital projects has been impacted by global economic uncertainty, existing projects and customer order books have continued to support near- term trading. The Group has also benefited from exchange rate movements in the first half, which may not recur. There are some indications of stability returning across certain sectors and geographies but overall the Board continues to be cautious about the trading outlook into 2010.

The Oil and Gas markets remain relatively robust, particularly in developing countries, such as Brazil, where large complex projects are stimulating demand, delivering new customer wins and growth in the existing customer base. Power continues to offer opportunities, particularly with the re-emergence of nuclear power. Marine customers continue to concentrate on delivery of current order books, which supports existing usage, but yard capacity has been constrained and therefore new sales have been limited. Increased investment in AVEVA NET has continued to enhance our opportunity within this developing market.

Richard Longdon, Chief Executive of AVEVA, said: "AVEVA has made a solid start to the year. Our strategy for delivering key software and providing excellent service to our customers, locally and around the world has helped us deliver on a number of opportunities and position ourselves well for the future in what remains a challenging market"

The Company will be announcing its interim results for the six months ended 30 September 2009 on 12 November 2009.

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