Dassault Systèmes Reports First Quarter Financial Results With Recurring Software, Operating Margin and EPS At the High End of Its Non-IFRS Guidance

Information on Industrial Sectors

Dassault Systèmes’ Industries develop Solution Experiences, industry-focused offerings which deliver specific value to companies and users in a particular industry. We serve eleven industries structured into three sectors: Manufacturing Industries (Transportation & Mobility; Aerospace & Defense; Marine & Offshore; Industrial Equipment; High-Tech; Home & Lifestyle; Consumer Packaged Goods & Retail and a portion of Business Services); Life Sciences & Healthcare (Life Sciences); and Infrastructure & Cities (Energy & Materials; Construction, Cities and Territories; Business Services).

Information on Product Lines

Commencing with the first quarter of 2020 and as previously disclosed, we are introducing a new presentation of our product lines to reflect our broader ambitions. Our new product line financial reporting includes: 1) Industrial Innovation software revenue, comprised of our CATIA, ENOVIA, SIMULIA, DELMIA, GEOVIA, NETVIBES/EXALEAD, and 3DEXCITE brands; 2) Life Sciences software revenue, comprised of our Medidata and BIOVIA brands; and 3) Mainstream Innovation software revenue, comprised of our SOLIDWORKS brand as well as Centric PLM, 3DVIA and our new 3DEXPERIENCE.WORKS family.

3DEXPERIENCE Licenses and Software Contribution

 

To measure the progressive penetration of 3DEXPERIENCE software, we utilize the following ratios: a) for Licenses revenue, we calculate the percentage contribution by comparing total 3DEXPERIENCE Licenses revenue to Licenses revenue for all product lines except SOLIDWORKS and acquisitions (“related Licenses revenue”); and, b) for software revenue, the Company calculates the percentage contribution by comparing total 3DEXPERIENCE software revenue  to software revenue for all product lines except SOLIDWORKS and acquisitions (“related software revenue”).

Adjusted Net Debt
The Adjusted Net Debt corresponds to the net financial debt position (borrowings net of cash, cash equivalent and short-term investments) adjusted of IFRS 16 lease liabilities.

 

 


DASSAULT SYSTEMES

NON-IFRS FINANCIAL INFORMATION

 (unaudited; in millions of Euros, except per share data, percentages, headcount and exchange rates)

Non-IFRS key figures exclude the effects of adjusting the carrying value of acquired companies’ deferred revenue, share-based compensation expense and related social charges, amortization of acquired intangible assets and of tangible assets revaluation, lease incentives of acquired companies, other operating income and expense, net, including the impairment of goodwill and acquired intangible assets, certain one-time financial revenue items and the income tax effects of these non-IFRS adjustments.

Comparable IFRS financial information and a reconciliation of the IFRS and non-IFRS measures are set forth in the separate tables within this Attachment.

In millions of Euros, except per share data, percentages, headcount and exchange rates

Non-IFRS reported

Three months ended

March 31,

March 31,

Change

Change in constant currencies

2020

2019

Revenue

€ 1,144.4

€ 964.0

19%

17%

 

 

 

 

 

Revenue breakdown by activity

       

Software revenue

1,023.0

859.5

19%

17%

of which licenses and other software revenue

172.3

213.2

(19)%

(20)%

of which subscription and support revenue

850.7

646.2

32%

30%

Services revenue

121.4

104.5

16%

14%

         

Software revenue breakdown by product line

       

Industrial Innovation

605.1

605.1

(0)%

(1)%

Of which CATIA

271.1

270.1

0%

(1)%

Of which ENOVIA (1)

80.6

89.0

(9)%

(11)%

Life Sciences (2)

195.0

39.3

396%

384%

Mainstream Innovation

223.0

215.1

4%

2%

Of which SOLIDWORKS

201.5

191.4

5%

3%

 

 

 

 

 

Revenue breakdown by geography

       

Americas

453.8

311.1

46%

42%

Europe

421.5

409.5

3%

3%

Asia

269.1

243.5

11%

9%

 

 

 

 

 

Operating income

€ 334.1

€ 316.4

6%

 

Operating margin

29.2%

32.8%

 

 

 

 

 

 

 

Net income attributable to shareholders

€ 250.0

€ 226.5

10%

 

Diluted net income per share

€ 0.95

€ 0.87

9%

7%

 

 

 

 

 

Closing headcount

21,439

17,574

22%

 

         

Average Rate USD per Euro

1.10

1.14

(4)%

 

Average Rate JPY per Euro

120.10

125.08

(4)%

 

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