Jun 20 2018

Aconex (UK) grew 31% in 2017

Aconex logo 2014Now that the Australian-based but internationally operating construction collaboration SaaS vendor Aconex is owned by Oracle it may seem strange to be revisiting its regional financial performance in Europe in the year to 30 June 2017. However, it is useful as a yardstick for the performance of other SaaS construction collaboration vendors, and an indication of the health of the market in general (the business reported separately to the UK-based operations of Conject [see previous post] – acquired by Aconex in March 2016).

Filed at Companies House in May 2018, the report and accounts for Aconex (UK) Limited for the year ending 30 June 2017 show that the business earned revenues of £5.486m (c. US$7.22m or €6.26m), up 31% on the company’s 2016 performance (though this may reflect the impact of customer revenues gained from the UK Conject operation, and that boost is likely to continue as more former Conject customers make the transition to Aconex). For the same period, it reported an operating loss of £100k, compared to a £410k profit in 2016.

The revenues were derived from the UK (£2.231m), from the rest of Europe (£1.635m), and from Africa (including an operation in Algeria now in liquidation) and the rest of the world (£1.613m), with growth reported across all three geographic sectors: of 34%, 54% and 10% respectively.

Update (29 June 2018) – An email from Oracle says: “As of June 1, 2018, the business of Aconex (UK) Limited will be performed by Oracle Corporation UK Limited.”

Permanent link to this article: http://extranetevolution.com/2018/06/aconex-uk-grew-31-in-2017/

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