CIMdata PLM Industry Summary Online Archive

12 November 2009

Financial News

AVEVA Interim Results for the Six Months Ended 30 September 2009

AVEVA Group plc announced its unaudited results for the six months ended 30 September 2009.

Highlights

• Solid performance in the first half year focussing on our core strengths of supplying world class solutions and services to our customers in the Oil and Gas, Power and Marine markets
• Revenue of £69.9 million (2008 £74.8 million) in challenging market conditions
• Recurring revenue up 18% to £48.1 million (2008 £40.9 million) representing 69% (2008 55%) of total revenue
• Investment in Research and Development of £10.3 million (2008 £12.9 million)
• Restructuring programme now complete at a cost of £1.8 million and annualised savings of £5 million per annum
• Adjusted profit before tax of £26.6 million (2008 £31.0 million)*
• Profit before tax of £23.3 million (2008 £29.2 million)
• Adjusted basic earnings per share of 27.91 pence (2008 33.11 pence)*
• Basic earnings per share of 22.99 pence (2008 30.50 pence)
• Interim dividend increased by 5% to 3.00 pence (2008 2.86 pence)
• Strong cash generation with net cash and deposits at the period end of £133.9 million (2008 £101 million)

* Adjusted profit before tax and adjusted basic earnings per share are calculated before amortisation of intangible assets, sharebased payments and restructuring costs in the relevant year.

Commenting on the outlook, Chairman Nick Prest said :

"AVEVA has focused on its core strengths in the first half and delivered a solid performance against a backdrop of challenging economic conditions. Many of our customers remain cautious about the outlook with continuing uncertainty in some geographies and industries. However, we are successfully exploiting opportunities in developing countries where growth continues. The Board remains cautious on the outlook for 2010 but believes that the considerable investment made over the years in developing the product portfolio and sales infrastructure positions AVEVA well to trade successfully through this challenging environment."

Download the full Interim Statement.

Download the AVEVA Investor Presentation 12 Nov 2009.

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