15 Feb 2018 07:00
AVEVA GROUP PLC
Trading update following Schneider Electric CY2017 results
AVEVA Group plc ('AVEVA' or 'the Group'), one of the world's leading providers of engineering data and design IT systems, notes the announcement today of the Schneider Electric financial results for the calendar year 2017 that includes commentary on the performance of its Industrial Software portfolio. It should be noted that the Industrial Software portfolio of Schneider Electric to which this commentary relates corresponds broadly, but not precisely, to the assets which are the subject of the Combination with AVEVA.
In the final quarter of calendar 2017, the portfolio experienced continued growth in its Licencing and Maintenance revenue streams, partly offset by a slight decline in Services revenue. This particularly related to the mid-stream Oil & Gas business area, where as previously communicated, there has been a reduction in project volume, related to the asset upgrade cycles of major customers.
Enquiries:
AVEVA Group plc
Matt Springett, Head of Investor Relations
Tel: 01223 556 676
FTI Consulting LLP
Edward Bridges / Dwight Burden
Tel: 020 3727 1000