CIMdata PLM Industry Summary Online Archive
26 May 2010
Financial News
AVEVA Preliminary Results Year End 31 March 2010
AVEVA Group plc announced its audited results for the year ended 31 March 2010.
Highlights
- Solid performance in challenging market conditions focusing on our core strengths of supplying solutions and services to our customers in the Oil and Gas, Power and Marine markets
- Revenue of £148.3 million (2009 - £164.0 million)
- Recurring revenue up 9% to £102.7 million (2009 - £94.2 million) representing 69% (2009 - 57%) of total revenue
- Investment in Research and Development of £20.9 million (2009 - £27.3 million)
- Restructuring programme complete at a cost of £1.9 million and annualised savings of approximately £5.0 million per annum
- Adjusted profit before tax of £50.7 million (2009 - £66.4 million)*
- Profit before tax of £49.6 million (2009 - £59.2 million)
- Adjusted basic earnings per share of 50.92 pence (2009 - 69.99 pence)*
- Basic earnings per share of 49.36 pence (2009 - 62.27 pence)
- Final dividend increased to 13.9 pence (2009 - 6.5 pence) resulting in total dividend of 16.9 pence for the year (2009 - 9.36 pence), an increase of 81%
- Continued strong cash generation with net cash and deposits at the year end of £149.7 million (2009 - £126.2 million)
*Adjusted profit before tax and adjusted basic earnings per share are calculated before amortisation of intangible assets, share-based payments, gain/loss on fair value of forward foreign exchange contracts and restructuring costs in the relevant year. In addition, adjusted basic earnings per share also include the tax effects of these adjustments.
Commenting on the outlook, ChairmanNick Prestsaid:
"Despite the challenges of 2009, we have continued with the development of the business through product innovation and securing growth in new markets such as the CIS and Brazil. We see growth opportunities in each of our vertical end markets.
The key drivers for growth remain in the Power and Oil and Gas markets where projects in new regions and more complex designs are likely to see new customer wins and the expansion of existing relationships. Although the traditional Marine market looks set to be slow for some time, emerging countries that are investing to develop local capacity afford some opportunities, as does offering new product functionality to existing customers. AVEVA NET remains a strong focus for the business as a growing customer base accepts the technology solution for managing the large volumes of data in both new build and brownfield assets.
Ongoing investments in products and delivery capabilities across AVEVA's entire portfolio will continue but added emphasis on AVEVA NET delivery capacity will help to accelerate our position within the market and capitalise on the growing opportunity.
The Group's market leading technologies and a global sales infrastructure capable of benefiting from both improving global and local trends, means that AVEVA remains well placed to continue to build on its success over recent years."
More Information:
The full Preliminary Results Statement and Investor Presentation may be downloaded from the Investor Information page.
Become a member of the CIMdata PLM Community to receive your daily PLM news and much more.
Tell us what you think of the CIMdata Newsletter. Send your feedback.
CIMdata is committed to your privacy. Your personal information will never be sold or shared outside of CIMdata without your express permission.