AVEVA Group plc,, a global leader in engineering and industrial software, provides a trading update for the year ended 31 March 2019.
AVEVA Group continues positive performance
The positive performance seen in the first nine months of the year continued in the fourth quarter and AVEVA delivered low double-digit revenue growth on a full year, pro forma IFRS 15 basis, compared to the prior year. As in the first 9 months, this growth included some benefit from upfront revenue recognition on multiyear rental contracts.
Full year operating margins improved, albeit with additional costs being incurred due to the strong 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 continued to progress well. As AVEVA starts the new financial year, further progress is expected on delivering medium-term targets, with a focus on transition to rental and subscription licencing.
AVEVA will announce its results for the year ended 31 March 2019 on 29 May 2019.
AVEVA is a global leader in engineering and industrial software driving digital transformation across the entire asset and operational life cycle of capital-intensive industries.