Schneider posts good growth ahead of combination with AVEVA

Schneider Electric Software saw a 4% improvement in its first half revenue to $288.5m in the six months to 30 September, it reported on Tuesday, ahead of its planned combination with FTSE 250 company AVEVA.

The firm’s adjusted EBITA was up 3.3% over the same time last year, to $43.6m.

Approximately half of the increase in revenue was said to be the result of the implementation of commercial agreements, with that impact expected to be largely factored by 1 January.

“The balance of the growth reflected underlying volume growth in HMI / SCADA licensing primarily in the APAC and EMEA regions, and an increase in the software maintenance and support revenue stream,” AVEVA’s update read.

“Globally the business has seen volume pickup in areas of the portfolio that deliver operational visibility, efficiency improvements and asset reliability.

“Overall, revenue decreased in North America resulting from the levelling-off of SCADA upgrade and enhancement project volume seen over the past two years in the in the oil and gas pipelines market for the region.”

Overall costs increased by 4.1%, which together with the growth in revenue resulted in the 3.3% increase in adjusted EBITA.

As well as publishing the Schneider figures, AVEVA also posted solid first half growth in its own business on Tuesday.