AVEVA Group plc today announces its preliminary results for the year ended 31 March 2017.
Highlights
Revenue up 7.1% to £215.8 million (2016 – £201.5 million), assisted by currency translation
- Constant currency revenue down 3.8%. H2 ex. Latin America flat on a constant currency basis
- Recurring revenue up to 76.9% of total revenue (2016 – 76.4%)
- Adjusted profit before tax up 7.4% to £55.0 million (2016 – £51.2 million)
- Net cash from operating activities before tax up 58.2% to £57.2 million (2016 – £36.1 million)
- Net cash up 21.3% to £130.9 million (2016 – £107.9 million) despite increased dividend payments
- Final dividend of 27.0 pence per share, taking the total dividend to 40.0 pence per share (2016 – 36.0 pence), an increase of 11.1%
- Strong progress in executing growth strategy with significant wins with new customers in growth markets and industry verticals, with North America and Power performing strongly
Chief Executive Officer, James Kidd said: “AVEVA’s performance was resilient in the context of challenging conditions in our core Oil & Gas and Marine end markets. This demonstrated the strength of our business model, with high levels of recurring revenue and continued strong cash generation. We made good progress in delivering against our growth strategy, with significant new order wins in the Owner Operator market, growing sales of our More Than 3D products and success in broadening our end market exposure. Although the timing of a return to material demand growth in our core end markets is difficult to predict, I am confident that our strategy will deliver good growth in the medium-term and that AVEVA is well positioned to benefit from a recovery in our end markets.”
