A model young cit­i­zen

Finweek English Edition - - Companies & Markets -

ANSYS AS ????? AN­NUAL RE­PORTS GO, AltX-listed rail and defence sys­tems busi­ness Ansys presents it­self as a model cor­po­rate cit­i­zen, pro­vid­ing ad­e­quate in­for­ma­tion for a com­pany of its stand­ing with­out go­ing over the top. Some cor­po­rates are prone to ex­cess in that de­part­ment as the grandeur of be­ing listed goes to their heads. How­ever, it seems Ansys’ 20 years of ex­is­tence prior to its 2007 list­ing gave it a good ground­ing.

Ansys also can’t be ac­cused of de­priv­ing an­a­lysts of suf­fi­ciently de­tailed seg­men­tal re­port­ing; some­thing that some other listed com­pa­nies are guilty of. In­ter­est­ingly, al­though the fo­cus on high-value rail in­fra­struc­ture projects – it’s a ben­e­fi­ciary of Transnet’s up­grade ex­pen­di­ture – fast- tracked its 54% in­crease in turnover in the year to Fe­bru­ary and con­trib­uted 82% of to­tal rev­enue, Ansys ex­pects a big jump in the rel­a­tive con­tri­bu­tion from defence con­tracts this year.

The big jump in rail rev­enues must ac­count for the large in­crease in the salary of one board mem­ber, Rudi Barnard, who is op­er­a­tional di­rec­tor of that di­vi­sion. Ansys said he’d driven the di­ver­si­fi­ca­tion of the di­vi­sion to in­clude rail­way sig­nalling and had been in­stru­men­tal in two of the three ac­qui­si­tions since list­ing: Emerg­ing Sig­nals and QuadSoft. Barnard’s salary went from a very mod­est R290 000 in 2007 to R914 000, bring­ing him more in line with the re­mu­ner­a­tion of other direc­tors.

Ansys direc­tors’ salaries aren’t over the top and al­though there was a 43% jump in the to­tal bill be­tween 2007 and 2008 that can be ex­plained by a num­ber of fac­tors: there was an in­crease in the num­ber of direc­tors (with the ad­di­tion of a chief fi­nan­cial of­fi­cer and an­other non-ex­ec­u­tive), the ex­ec­u­tive direc­tors re­ceived bonuses that were pre­sum­ably linked to the suc­cess­ful list­ing, and

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