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Company AVEVA Group PLC
TIDM AVV
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Interim Management Statement

Released 07:00 28-Jan-2013
Number 4306W07

RNS Number : 4306W
AVEVA Group PLC
28 January 2013
 



 

 

28 January 2013

AVEVA Group plc

Interim Management Statement

 

AVEVA Group plc ('AVEVA'; stock code: AVV), one of the world's leading providers of engineering data and design IT systems, today announces the following Interim Management Statement for the period from 1 October 2012 to date ("the period").

Overall the Group has continued to perform well during the period with strong cash generation in the third quarter.

In Engineering & Design Systems we saw good progress in the period, principally driven by continued strength in Oil & Gas.  In Power we achieved steady growth while Marine remained depressed, although the offshore sector remained positive.  AVEVA Everything 3D™ (AVEVA E3D™) is now commercially available and we are seeing good levels of interest. As previously advised, we do not expect any material contribution to revenue from AVEVA E3D™ this financial year.

In December we were also pleased to announce the acquisition of the advanced visualisation software of Global Majic, which will support the development of our simulation offering for Plant Owner/Operators.

In Enterprise Solutions, our strategy of focusing on Owner/Operators is delivering benefits resulting in a number of new contracts, including Lundin Norway AS - a key Norwegian Operator.

We have not seen any noticeable shift in the regional trends we reported at the time of our interim results. In the Americas, our growth in the period was impacted in Brazil by delays in project awards to the EPCs and local resource constraints within our customer base. EMEA benefitted from the strength of spend among our Oil & Gas customers whilst Asia Pacific maintained progress.

 

 

 

AVEVA Group plc

Tel: +44 1223 556 611

Richard Longdon, Chief Executive


James Kidd, Chief Financial Officer


Derek Brown, Head of Investor Relations




HudsonSandler

Tel: +44 20 7796 4133

Andrew Hayes/Wendy Baker


 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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Interim Management Statement - RNS