FY22 Results show digitalization is the key that can unlock net-zero for industry
Posted: June 08, 2022
As we report today our financial results for the fiscal year 2022, firstly I’d like to thank all our customers for their loyalty, our employees for their diligence and commitment, and our stakeholders in supporting us on our incredible journey during the last year.
While it’s always good to stop and look at what’s been achieved, the financials also serve as an opportunity to consider what’s to come.
Our robust results highlight that the digitalization of the industrial world continues to drive demand for our software. AVEVA’s end markets have recovered from the Covid crisis and are showing positive trends, and our broad integrated software portfolio leaves us well-placed to drive sustainable growth.
The end of the financial year also marked our first anniversary of AVEVA and OSIsoft coming together as one team. In addition, we’ve made good progress on interoperability between products to add greater value to customers. Key integrated products have been launched, including the integration of AVEVA PI System with both Unified Operations Center and Predictive Analytics. And as demonstrated at AVEVA PI World in Amsterdam a few weeks ago, there’s plenty more to come.
Further Acceleration
The world now seems to have come to somewhat of an inflection point. The uncertainties of COVID have been replaced with uncertainties around supply chains, cost inflation, manufacturing inputs availability as well as embargoes and sanctions. Companies and their leadership team are facing multi-dimensional issues all at the same time. But we at AVEVA are prepared to help companies navigate these challenges and leverage the opportunities that often arise from disruptions, whether it be in some of our more traditional markets or emerging industries such as Green Power.
As we look to our future, our growth will be underpinned by our transition to subscription, improving end market conditions, and PI System integration synergies. However, we are keen to move faster. For example, PI System will accelerate its move to subscription and the Group’s cloud transition is being accelerated by greater investment in R&D, sales, and operations.
I have recently returned from AVEVA PI World and the World Economic Forum (WEF) in Davos, and the message from customers and country leaders was clear – “net-zero is our aim and leading-edge technology can accelerate the decarbonization of the industrial world”.
So, what will our role be? And why am I confident for AVEVA? Well, when it comes to unlocking efficiency and sustainability gains, AVEVA’s cloud and AI-enabled operating systems will be critical. We empower companies to transform how they work to solve their biggest challenges – such as decarbonizing while maintaining business continuity and remaining profitable. The bottom line is - we unlock net-zero for industry.
