AVEVA Group PLC Update following Schneider Electric CY2017 results (9218E)
February 15 2018 - 1:00AM
UK Regulatory
TIDMAVV
RNS Number : 9218E
AVEVA Group PLC
15 February 2018
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
This information is provided by RNS
The company news service from the London Stock Exchange
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