AVEVA's Board intends to maintain a final dividend of 29.0 pence per share at a cost of £46.8 million (FY19: 29.0 pence per share at a cost of £46.8 million). Subject to approval at AVEVA's AGM on 21 July 2020, the final dividend will be payable on 11 August 2020 to shareholders on the register as at 10 July 2020. The Company has not furloughed any employees or made any reductions to headcount related to Covid-19. They also do not expect to utilise any government-backed financing
Other financial highlights include:
Revenue grew 8.8% to £833.8m (FY19: £766.6m)
Organic constant currency revenue grew 7.4%
Recurring revenue up 25.7% to £518.5m (FY19: £412.6m) representing 62.2% of total revenue (FY19: 53.8%)
Growth across all geographic regions with Asia Pacific showing particular strength
Each of the Business Units grew, with strong growth in Asset Performance Management (APM) and Planning & Operations
Successful introduction of AVEVA Flex subscription model supporting strong growth in subscription
Cloud growth accelerating with an increase of some 200% in total contract value
Adjusted EBIT up 23.3% to £216.8m (FY19: £175.9m) with margins up to 26.0% (FY19: 22.9%), in-line with expected progress towards medium term target of 30%
Strong balance sheet with cash and deposits of £114.6m, no debt and strong cash collection post year end
Business outlook resilient with digitalisation key to driving customers' efficiency and high levels of recurring revenue for AVEVA
