Aveva Group (LSE:AVV) slipped into the red in fiscal 2022 and cautioned revenues will be hurt next year due to the war in Ukraine.
The information technology company said impairment of balances with Russian-based counterparties was £7.3mln in fiscal 2022.
Pretax loss was £18.6mln attributable to "amortisation of intangible assets" compared to pretax profit of £34.2mln in the prior period.
Revenues rose 44.5% to £1.18bn after a deferred revenue haircut and the OSIsoft acquisition.
Net loss was £62.6mln compared with net profit of £24.8mln in the prior year.
Annualised recurring revenue (ARR) increased 10.2% to £768.7mln, and revenue was up 7% on an organic pro forma constant currency basis, the company said.
A final dividend of 24.5p per share was declared, up from 23.5p a year ago.
The company said costs incurred in the integration of OSIsoft are expected to continue until the end of fiscal 2023 and resulted in a cash outflow of £29.5mln compared to £3.5mln in fiscal 2021.
Aveva said its reported revenue for fiscal 2023 will be reduced by the timing of revenue recognition but ARR will increase, though adjusted EBIT for fiscal 2023 will also be impacted by additional costs.