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AVEVA Preliminary Results Year End 31 March 2010

26 May 2010

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 2010.

Highlights

Solid performance in challenging market conditions focusing on our core strengths of supplying world class solutions and services to our customers in the Oil and Gas, Power and Marine markets

Revenue of £148.3 million (2009 - £164.0 million)

Recurring revenue up 9% to £102.7 million (2009 - £94.2 million) representing 69% (2009 - 57%) of total revenue

Investment in Research and Development of £20.9 million (2009 - £27.3 million)

Restructuring programme complete at a cost of £1.9 million and annualised savings of approximately £5.0 million per annum

Adjusted profit before tax of £50.7 million (2009 - £66.4 million)*

Profit before tax of £49.6 million (2009 - £59.2 million)

Adjusted basic earnings per share of 50.92 pence (2009 - 69.99 pence)*

Basic earnings per share of 49.36 pence (2009 - 62.27 pence)

Final dividend increased to 13.9 pence (2009 - 6.5 pence) resulting in total dividend of 16.9 pence for the year (2009 - 9.36 pence), an increase of 81%

Continued strong cash generation with net cash and deposits at the year end of £149.7 million (2009 - £126.2 million)

* Adjusted profit before tax and adjusted basic earnings per share are calculated before amortisation of intangible assets, share-based payments, gain/loss on fair value of forward foreign exchange contracts and restructuring costs in the relevant year. In addition, adjusted basic earnings per share also include the tax effects of these adjustments.

Commenting on the outlook, Chairman Nick Prest said:

"Despite the challenges of 2009, we have continued with the development of the business through product innovation and securing growth in new markets such as the CIS and Brazil. We see growth opportunities in each of our vertical end markets.

The key drivers for growth remain in the Power and Oil and Gas markets where projects in new regions and more complex designs are likely to see new customer wins and the expansion of existing relationships. Although the traditional Marine market looks set to be slow for some time, emerging countries that are investing to develop local capacity afford some opportunities, as does offering new product functionality to existing customers. AVEVA NET remains a strong focus for the business as a growing customer base accepts the technology solution for managing the large volumes of data in both new build and brownfield assets.

Ongoing investments in products and delivery capabilities across AVEVA's entire portfolio will continue but added emphasis on AVEVA NET delivery capacity will help to accelerate our position within the market and capitalise on the growing opportunity.

The Group's market leading technologies and a global sales infrastructure capable of benefiting from both improving global and local trends, means that AVEVA remains well placed to continue to build on its success over recent years."

Enquiries:

AVEVA Group plc

Richard Longdon, Chief Executive
Paul Taylor, Finance Director

Wednesday 26 May 2010: Thereafter:

Tel : 020 7796 4133
Tel : 01223 556611

Hudson Sandler

Andrew Hayes / Wendy Baker / Alex Brennan

Tel : 020 7796 4133

An analysts' briefing will be held at 29 Cloth Fair, London EC1A 7NN at 10.00 a.m. on 26 May 2010. For further information please contact Alex Brennan on 020 7796 4133 or on ahaysom@hudsonsandler.com.

More Information:

The full Preliminary Results Statement and Investor Presentation may be downloaded from the Investor Information page.