FIGURES RELEASED BY DARATECH INC. SHOW RECORD MARKET POSITION FOR AVEVA
Excellent sales record as well as Tribon acquisition catapults AVEVA towards top of industry
January 24, 2005 – DaratechPLANT2005 -- Houston Texas -- Annual analysis of the process and power and marine IT solutions markets released by Daratech Inc. of Cambridge, Massachusetts, a leading market research firm, have shown record growth for AVEVA <LSE:AVV> in the calendar year 2004. The figures, released annually to coincide with the DaratechPLANT conference, showed annualised non-GAAP figures for Overall Plant and Non-Process and Power Shipbuilding 2004 of about US$118 million (£60 million) for software and services - highlighting the industry's most dramatic growth of the year.
"It's a combination of successes," explained Richard Longdon, CEO, AVEVA Group plc. "Obviously, the acquisition of Tribon Solutions has had an effect, but it's important to put it into perspective. In revenue terms, the non-plant related marine sector is significantly smaller than power, oil and gas, and it has only contributed for half of the year. This has been an historical year for AVEVA and it's a huge commendation for our staff, our vision and our technology."
"AVEVA has secured some high-value, high-profile contracts this year," Richard continued. "The project to build Europe's first major nuclear facility in ten years chose our VANTAGE suite for the entire power facility but all over the world, in very large contracts, we have been set against the stiffest competition and have come out on top. Our performance is an unequivocal statement of faith in the long-term value that AVEVA offers."
AVEVA has capitalised upon ongoing industrial growth in the Far East, earning commendations from DAEWOO, a stronghold in the expanding power sector and the late signing of a development and license agreement with Hyundai Heavy Industries, the world's biggest producer of ships. In October, The Group announced a major solutions contract with Woodside Energy Limited, the operator of Australia's largest energy resource development project as well as ongoing success with the Data Warehouse Portal for the US$4.3 million CSPC Nanhai Project.
Charles Foundyller CEO, Daratech Inc. commented: "AVEVA's significant growth in 2004 reflects their dedication to their strategy and the industry’s faith in their ability to continue to deliver strong, innovative solutions. While their core software proposition has evolved with stability and pace, their record of making alliances with or acquiring solutions in areas adjacent to their expertise has clearly paid dividends. A company that was known in the 1980s for 3D design has become the provider of a comprehensive suite of integrated solutions."
Projected figures for 2005 show continued growth as revenue from ongoing contracts is realised. The Group is also expected to announce further developments from its partnership with Autodesk, the world's leading 3D digital software company.
"AVEVA's success is evidence of its responsiveness to process, power and marine companies who want to streamline the design process," said Mark Strassman, senior director of marketing for Autodesk's Platform Technology Division. "By partnering to integrate AVEVA's industry-leading software with AutoCAD, the world's leading CAD software, we offer a best-of-breed solution to help make plant and piping design more productive and cost-effective."
About AVEVA Group plc
AVEVA Group plc (http://www.aveva.com) is one of the world’s foremost and fastest-growing lifecycle engineering IT solutions and services providers to the oil and gas, paper and pulp, power, chemical, pharmaceutical and shipbuilding industries. Listed on the London Stock Exchange (LSE:AVV), the Group reported pre-tax profits for the year ended March 2004 of GBP 6.1 million on a turnover of GBP 38 million, a growth in turnover of 113% in five years.
The Group has a history of groundbreaking innovation that spans five decades. Serving over 1100 clients, AVEVA has a dominant position in many market sectors both on and offshore. In May 2004, the Group acquired Tribon Solutions AB, the market-leading shipbuilding solution company and now serves 80% of the world's top 20 shipbuilders.
The Group's clients include leading plant Owner Operators and engineering contractors such as 3M, ALSTOM Power, AMEC, BASF, Daewoo Heavy Industries, Daewoo Shipbuilding & Marine Engineering (DSME), Dalian New Shipbuilding, Du Pont, Electricité de France, Halliburton, Hanjin Heavy Industries, Hitachi, Hudong Zhonghua Shipyard, Hyundai Mipo Dockyard, Hyundai Samho Heavy Industries, Kawasaki Heavy Industries, Kawasaki Shipbuilding Corporation, Krupp Uhde, Kvaerner, Merck, Mitsubishi Heavy Industries, Mitsui Engineering & Shipbuilding, Petronas Carigali, Samsung Engineering, Shanghai Waigaoqiao Shipbuilding, Shell and STX Shipbuilding.
Headquartered in Cambridge, England, AVEVA Group plc and its operating subsidiaries currently employ more than 450 staff worldwide with offices in England, Australia, China, France, Germany, Hong Kong, India, Italy, Japan, KSA, Malaysia, Norway, Russia, Singapore, Sweden, South Korea and the USA.
