logo
  

AVEVA Group 2-month Revenue Up About 10% On Organic Constant Currency Basis

AVEVA Group (AVV.L), on Thursday, issued an update on current trading and new five-year financial targets.

The company reported about 10% revenue growth in the first two months of the financial year 2022 on an organic constant currency basis.

Assuming the global economic outlook is stable to moderately growing and that trends toward digitalisation continue at current rates, the company issued five-year financial targets on an organic constant currency basis.

The company expects a revenue Compound Annual Growth Rate or CAGR of around 10% between FY21 and FY26; recurring revenue at over 80% of total revenue; and adjusted EBIT margin of at least 35%.

AVEVA's revenue growth would be supported by revenue synergies relating to the OSIsoft acquisition, which are expected to be at least $100 million in FY26. Recurring revenue growth is expected to be driven by a continued transition to Subscription and the accelerated adoption of Cloud by customers.

In addition, the company targets conversion of adjusted net profit to free cash flow of 100% across the target period.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The five-day holiday shopping period from Thanksgiving Day through Cyber Monday saw about 180 million Americans making in-store and online purchases, according to the National Retail Federation's Annual Thanksgiving Weekend Consumer Survey, conducted by Prosper Insights & Analytics. The shoppers spent an average of $301.27 on holiday-related purchases such as gifts, décor, apparel and toys. Biopharmaceutical company Immunome, Inc. (IMNM) announced Wednesday that it has conducted an assessment of the reported mutations in the new SARS-CoV-2 variant, Omicron (B.1.1.529). Based upon structural mapping of those mutations and activity against previous and current CDC variants of concern,... CVS Health said it has installed time delay safe technology in all 392 Illinois CVS Pharmacy locations, including those in Target stores, to help reduce organized retail crime. The installation of new safes for controlled substances are anticipated to help prevent pharmacy robberies. There is also potential for associated diversion of controlled substance medications, including opioid medications.
RELATED NEWS
Follow RTT