Aveva (LON:AVV) reported a strong final quarter of 2017 for Schneider Electric, with a “record” EBITA figure beating its own target.
Aveva, who combined with Schneider Electric’s software business in late 2017 in a deal worth over £3 billion, reported a continued growth in SE’s licencing and maintenance revenue streams. However, this was partly offset by a slight decline in services revenue.
The group reported a 90 basis points organic increase in its 2017 adjusted core profit (EBITA) margin, ahead of its own target, as improving prices and cost management cuts begin to take effect.
Adjusted earnings before interest, taxes and amortization (EBITA) came in at 3.65 billion euros ($4.55 billion), with an adjusted core profit margin of 14.8 percent.
Schneider Electric (EPA:SE) shares are currently trading up 3.29 percent at 71.52 (0845GMT).