FY 2022 H1 Trading UpdateSource: RNS
AVEVA GROUP PLC
FY 2022 H1 Trading Update
AVEVA Group plc ('AVEVA' or 'the Group') announces the following trading update for the period from 1 April 2021 to 30 September 2021.
AVEVA's revenue grew by approximately 9% in the first half of the financial year on a pro forma organic constant currency basis(1), before FX translation headwinds arising due to the relative strength of Sterling. This increase drove significant margin leverage and growth in adjusted EBIT.
All of the Group's fee types grew, with a particularly strong contribution from the recently acquired OSIsoft business. Maintenance and Services revenue increased at a low single digit rate, while Subscription and Perpetual licence revenue grew at a mid- to high-teens rate.
AVEVA will report its results for the six months ended 30 September 2021 on 10 November 2021.
(1) Pro forma organic constant currency revenue growth includes both AVEVA and OSIsoft in the prior year comparator and is adjusted for foreign exchange translation movements, disposals and the impact of the deferred revenue haircut under IFRS 3 (Business Combinations).
AVEVA Group plc
Matthew Springett, Head of Investor Relations: +44 (0) 7789 818 684
FTI Consulting LLP
Edward Bridges / Dwight Burden: +44 (0) 203 727 1000