Paris-listed Axway says revenue of €62.6m for the first quarter of 2015 equates to 2.5% organic growth on the already good results for the same period in 2014. This is a promising start to 2015, with both licenses and maintenance recording increases. France has been experiencing an extremely positive trend for two years, and this continued in the first quarter of 2015.
Licenses were up 3.3% (organic growth), compared to the first quarter 2014 which recorded 4.4% organic growth, thanks essentially to activity in France and despite a slow US market. Maintenance confirms a favourable level of growth that has been observed for the past two years. Services are not as yet benefiting from the healthy number of licenses recorded in the fourth quarter of 2014.
France's situation is different in the rest of Europe and the United States, which is suffering from the poorer license performance in this first quarter. The Asia-Pacific region is still buoyant but the performance applies to lower volumes of activity than in the other regions.
As at end of March 2015, Axway was in a stable financial position with cash of €36.6m and a bank debt of €5m.
As previously indicated, Axway is updating its medium-term strategic plan and will communicate on its conclusions this coming summer.