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AVEVA GROUP PLC PRELIMINARY RESULTS FOR THE YEAR ENDED 31 MARCH 2012

AVEVA Group plc ('AVEVA'; stock code : AVV), one of the world's leading providers of engineering data and design IT systems, today announces its preliminary results for the year ended 31 March 2012.

Financial highlights

Operational highlights

• Strong performance in Engineering & Design Systems
• Significant growth in Americas (+24%) and EMEA (+21%)
• Enterprise Solutions strong momentum
• China successfully re-organised, growth back on track
• Strong financials – cash conversion 115%, recurring revenue 70%
• Increased investment in new technology and products
• Focused M&A strategy

* Adjusted profit before tax, adjusted profit margin and adjusted basic earnings per share are calculated before amortisation of intangible assets (excluding other software), share-based payments, gain/loss on fair value of forward foreign exchange contracts and exceptional items.  In addition, adjusted basic earnings per share also include the tax effects of these adjustments. 

Commenting on the outlook, Chief Executive Richard Longdon said:

“The strong close to last year has put AVEVA in a very good position to deliver against our strategy and to continue our focused investment to expand the business in all areas. We expect growth in the Oil & Gas industry to continue apace along with our expanding presence in Mining. Power is set to provide a solid base of customers continuing to prepare for the growth in Nuclear whilst Marine is expected to remain slow. 

Geographically, we expect a continued strong performance in Latin America, a return to strong growth in China following the reorganisation and we are continuing to invest in developing a much larger organisation in India. Against this backdrop, we are confident about the prospects for 2012/13.”

Click here for the full Preliminary Results Statement