AVEVA Preliminary Results Year End 31 March 2009

AVEVA Group plc (‘AVEVA'; stock code : AVV), one of the world's leading providers of engineering data and design IT systems, today announces its audited results for the year ended 31 March 2009.

Highlights

* Strong growth in revenue, profit and cash reflecting the leadership position of our products in Marine, Oil & Gas and Power markets
* Revenue increased by 29% to £164.0 million (2008 - £127.6 million)
* Recurring revenue up 42% to £94.2 million (2008 - £66.1 million) representing 57% (2008 - 52%) of total
* Investment in Research and Development up 28% to £27.3 million (2008 - £21.3 million)
* Adjusted profit before tax increased by 31% to £62.6 million (2008 - £47.9 million)*
* Profit before tax up 32% to £59.2 million (2008 - £45.0 million)
* Adjusted basic earnings per share up 22% to 67.33 pence (2008 - 55.22 pence)*
* Basic earnings per share up 23% to 62.27 pence (2008 - 50.80 pence)
* Final dividend increased by 30% to 6.5 pence (2008 - 5.0 pence) bringing the full year dividend to 9.36 pence
* Net cash at the year end of £126.2 million (2008 - £82.8 million), an increase of 52%, reflecting continued strong cash generation

* Adjusted profit before tax and adjusted basic earnings per share is before amortisation of intangibles excluding software, share-based payments and adjustment to the carrying value of goodwill.

Commenting on the outlook, Chairman Nick Prest said:

"The sustained and considerable investment made by the Group over the past few years in developing our product range and expanding our geographical presence will ensure AVEVA maintains its position as a world leader in the markets in which it operates.

"As the current global economic slowdown continues and the oil price and shipping rates sit at lower levels than in recent years, some projects are now being postponed or cancelled, awaiting project funding or visibility of more certain times. Against this backdrop, AVEVA's customer relations and best in class products will remain ever more important and will help to maintain levels of recurring revenue and exploit new opportunities.

"The restructuring programme already initiated means that AVEVA is better equipped to successfully trade through the difficult trading environment whilst allowing the Company to invest selectively in already identified important growth opportunities, for example with regard to AVEVA NET and in South America and the CIS."