Peachtree 2012 Annual Report Download - page 89

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Overview
Performance
Governance
Group accounting policies continued
Results for the year
1 Segment in
In accordance w i th IFRS 8, “Operating Segments”, information for the Group’s operating segments has been derived using the information used by the chief
operating decision maker. The Group’s Executive Committee has been identified as the chief operating decision maker as the Committee is responsible for the
allocation of resources to operating segments and assessing their performance. The profit measure used by the Executive Committee is Earnings before interest,
tax and adjustments (“EBITA”) which excludes the effects of amortisation of acquired intangible assets, the amortisation of software development expenditure
and acquisition-related items on a constant currency basis. Operating segments are reported in a manner which is consistent with the operating segments
produced for internal management reporting.
The North America operating segment has been renamed to Americas. For the year ended 30 September 2012 this includes operations in Brazil which have
arisen from acquisitions made during the year (note 16).
The Group is organised into three operating segments. The UK is the home country of the parent. The main operations in the principal territories are as follows:
Europe (France, UK & Ireland, Spain, Germany, Switzerland, Poland and Portugal)
Americas (US, Brazil and Canada)
AAMEA (Africa, Australia, Middle East and Asia)
The Africa operations are principally based in South Africa, the Middle East and Asia operations are principally based in Singapore, Malaysia, UAE and India.
The revenue analysis in the table below is based on the location of the customer which is not materially different from the location where the order is received
and where the assets are located.
The tables below show a segmental analysis of the results for continuing operations. For information relating to discontinued operations refer to note 15.
1.1 Revenue by segment
Year ended 30 September 2012 Year ended 30 September 2011 Change
IFRS
statutory
£m
Organic
revenue
adjustment1
£m
Non-
GAAP
organic
£m
IFRS
statutory
£m
Currency
impact2
£m
Underlying
at constant
currency
£m
Organic
revenue
adjustment1
£m
Non-
GAAP
organic
constant
currency
£m
IFRS
statutory
%
Underlying
at constant
currency
%
Non-
GAAP
organic
constant
currency
%
Subscription revenue by segment
Europe 516.1 (5.1) 511.0 500.9 (16.0) 484.9 – 484.9 3% 6% 5%
Americ
a
s 324.2 (23.0) 301.2 299.7 3.8 303.5 (14.7) 288.8 8% 7% 4%
AAMEA 82.4 (0.1) 82.3 75.9 (4.3) 71.6 (0.3) 71.3 9% 15% 15%
Subscription revenue 922.7 (28.2) 894.5 876.5 (16.5) 860.0 (15.0) 845.0 5% 7% 6%
Software and software-related
services (“SSRS”) revenue by
segment
Europe 259.7 – 259.7 294.8 (14.6) 280.2 – 280.2 -12% -7% -7%
Americ
a
s 87.5 (9.3) 78.2 91.2 1.1 92.3 (9.1) 83.2 -4% -5% -6%
AAMEA 70.3 (0.5) 69.8 71.6 (5.0) 66.6 (1.8) 64.8 -2% 6% 8%
SSRS revenue 417.5 (9.8) 407.7 457.6 (18.5) 439.1 (10.9) 428.2 -9% -5% -5%
Total revenue by segment
Europe 775.8 (5.1) 770.7 795.7 (30.6) 765.1 – 765.1 -3% 1% 1%
Americ
a
s 411.7 (32.3) 379.4 390.9 4.9 395.8 (23.8) 372.0 5% 4% 2%
AAMEA 152.7 (0.6) 152.1 147.5 (9.3) 138.2 (2.1) 136.1 4% 10% 12%
Total revenue 1,340.2 (38.0) 1,302.2 1,334.1 (35.0) 1,299.1 (25.9) 1,273.2 0% 3% 2%
1 Organic revenue adjustment includes the contributions of current and prior year acquisitions, disposals and non-core products.
2 Foreign currency results for the prior year ended 30 September 2011 have been retranslated based on the average exchange rates for the year ended 30 September 2012
of $1.58/£1 and €1.22/£1 to facilitate the comparison of results.
Financial statements
87
The Sage Group plc | Annual Report & Accounts 2012