Update following Schneider Electric Q3 results

Released : 26/10/2017

RNS Number : 7239U
AVEVA Group PLC
26 October 2017
 

26 October 2017

 

AVEVA GROUP PLC

Update following Schneider Electric Q3 results

 

AVEVA Group plc ('AVEVA' or 'the Group'), one of the world's leading providers of engineering data and design IT systems, notes the announcement of the Schneider Electric Q3 results.

 

As part of the Q3 announcement, Schneider Electric reported its Industrial Software portfolio grew revenues by c.3% organic. This is consistent with the strengthening trend which was referenced in the prospectus dated 6 September 2017, relating to the proposed combination of AVEVA with the Schneider Electric Software Business ("the Combination"). It should be noted that the Industrial Software portfolio of Schneider Electric to which this metric relates corresponds broadly, but not precisely, to the assets which are the subject of the Combination.

 

As previously announced, AVEVA will release its interim results for the six months ended 30 September 2017 on Tuesday 14 November 2017. The Company expects to give a further update on the performance of the Schneider Electric Software Business for the six months to 30 September 2017 at that point.

 

Enquiries:

 

AVEVA Group plc

Matthew Springett, Head of Investor Relations: +44 (0) 1223 556 676

 

FTI Consulting LLP

Edward Bridges / Dwight Burden: +44 (0) 203 727 1000

 


This information is provided by RNS
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