AXWAY_REGISTRATION_DOCUMENT_2017
AXWAY GROUP AND ITS BUSINESS ACTIVITIES
CORPORATE RESPONSIBILITY
CORPORATE GOVERNANCE
CONSOLIDATED FINANCIAL STATEMENTS
2017 ANNUAL FINANCIAL STATEMENTS
CAPITAL AND AXWAY SOFTWARE STOCK
INFORMATIONS ADMINISTRATIVES ETbJURIDIQUES
COMBINED GENERAL MEETING OFb6bJUNEb2018
Notes to the financial statements
NoteǾ3 Segment information
Internal business management information is made available to Axway’s management based on the Developer/Distributor (Licenses, Cloud, Maintenance, Services) model. Segment information for Axway is presented according to this organization.
3.1 Geographical breakdown of revenue
2017
2016
2015
(in thousands of euros)
Europe
155,506 128,763 15,577 299,845
51.9% 162,929 42.9% 122,853
54.1% 160,974 40.8% 109,707
56.6% 38.5%
Americas
Asia Pacific
5.2%
15,296
5.1%
13,930
4.9%
Total revenue
100% 301,078
100% 284,612
100%
3.2 Geographical breakdown of non-current assets
2017
2016
2015
(in thousands of euros)
France
88,183 312,029 400,212
22.0%
91,189
25.6%
86,935
28.8% 71.2%
International
78.0% 265,144 100.0% 356,333
74.4% 215,364 100.0% 302,299
Total non-current assets*
100.0%
* Excluding financial instruments, deferred tax assets, and assets with respect to post-employment benefits.
4
NoteǾ4 Operating profit 4.1 Revenue
rights. Delivery must be considered to have taken place when all contractual obligations have been fulfilled, i.e. when any remaining services to be provided are insignificant and not liable to endanger the client’s acceptance of goods supplied or services rendered; ● maintenance revenue is recognized prorata-temporis, and is generally billed in advance; ● ancillary services revenue is generally recognized on the basis of time spent and is recognized when the services are performed, i.e. usually when invoiced. Ancillary services are sometimes provided under fixed-price contracts, in which case they are recognized using the percentage-of-completion method described in paragraphǾf. below. b. Services provided under a Software as a Service contract (Cloud) The supplier transfers control of the service progressively to the customer and hence, recognizes revenue progressively: “The customer simultaneously receives and consumes all of the benefits provided by the entity as the entity performs”. c. Sometimes, contracts comprising multiple elements (license, maintenance, ancillary services,betc.) may be negotiated on a fixed-price basis In this situation, the amount of revenue attributable to the license is obtained by the difference between the total contract amount
Revenue from the Cloud activity, which has grown organically by more than 14.4% and accounts for 12.5% of Group revenue at 31ǾDecember 2017, will henceforth be identified in the same way as the Licenses, Maintenance and Services activities. 4.1.1 Revenue recognition The applicable standard is IASǾ 18 Income from ordinary operations. Services provided within the scope of the Group’s software package operations include: ● the right of use under license of the software packages provided; ● ancillary services: installation, settings, adaptation, training. a. In general, separate contracts are concluded with clients for licenses and maintenance on the one hand, and ancillary services on the other hand In this situation, the various elements comprising contracts are accounted for as follows: ● license revenue is recognized immediately on delivery, as license sale agreements constitute, in substance, a sale of ● the Cloud; ● maintenance;
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AXWAY - 2017 REGISTRATION DOCUMENT
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