An "intangible asset" is an asset that has significant value but has no physical presence and provides a company long-term financial value. Intangible assets that can be individually marketed by the business, can be separated from other assets, and can be identified are known to as identifiable intangible assets. Intellectual property, such as patents, trademarks, and copyrights, as well as non-cash government grants, like airport landing rights or broadcasting licenses, are examples of identifiable intangible assets. A trademark is a sign that can be used to distinguish one company's goods or services from those of other businesses. For trademarks, intellectual property rights offer protection. Intangible assets are capitalized at fair value as of the date of acquisition rather than cost when acquired separately.
Aveva Group’s gross value of intangible assets surged from EUR1,384.4 million in FY20201 to EUR1,432.8 million in FY2022, an increase of 3.50%. In FY2022, the company's net value of intangible assets was EUR1,472.5 million. Trademarks and developed technology accounted for EUR28.1 million and EUR1,381.9 million respectively, based on the company's calculation of the fair value of identified intangible assets. The company's amortization expense for intangible assets was EUR226.1 million in FY2022.
In comparison to FY21, total statutory costs increased to £1,203.9 million ($786.2 million) in 2022. The cost of sale, operational costs, and amortization of intangible assets related to the purchase of OSIsoft were the main causes of this increase. Non-current assets totaled EUR 5.7 billion (EUR 5.8 billion, 31 March 2021), which reflected goodwill and intangible assets resulting from the merger with Schneider Electric's industrial software business and the acquisition of OSIsoft. Intangible assets and goodwill totaled EUR 5.5 billion (EUR5.6 billion, 31 March 2021).
The company’s trademarks grew from EUR26.8 million in FY2021 to EUR28.1 million in FY2022. AVEVA improved in FY22, increasing SaaS revenue to £27.8 million, showing growth of 23.9% on a pro forma organic constant currency basis, due to sales of cloud solutions such as Value Chain Optimization, Asset Information Management and Unified Engineering. In FY22, the company’s purchased software rights and other software stood at EUR16.30 million and EUR6.5 million.
AVEVA Group Plc (AVEVA), a subsidiary of Schneider Electric SE is a provider of engineering software solutions. The company offers design, engineering, software and enterprise solutions, ship building and design management, and plant and marine catalogue information solutions. It also provides services such as consulting, integration, and lifecycle management services. AVEVA offers technologies include support the design and through-life operation of engineering projects in oil and gas, energy, marine, chemical, infrastructure, life sciences, food and beverage, consumer packed goods, and mining, metals, and manufacturing industries. The company markets its products under AVEVA NET brand.
United States of America
United States of America
United States of America
United States of America
United States of America
United States of America
United States of America
United States of America
China
Don’t wait - discover a universe of connected data & insights with your next search. Browse over 28M data points across 22 industries.
Access more premium companies when you subscribe to Explorer
Contact the team or request a demo to find out how our data can drive your business forward