Dassault Systèmes Reports Solid Second Quarter Performance and Reconfirms Full Year Outlook

DASSAULT SYSTEMES

CONDENSED CONSOLIDATED BALANCE SHEETS (IFRS)

(unaudited; in millions of Euros)

         
In millions of Euros   June 30,   December 31,
    2014   2013
 
ASSETS
Cash and cash equivalents 1,253.5 1,737.9
Short-term investments 93.0 65.8
Accounts receivable, net 454.9 472.6
Other current assets 170.0 143.7
Total current assets 1,971.4 2,420.0
Property and equipment, net 112.3 100.4
Goodwill and Intangible assets, net 2,256.1 1,531.7
Other non-current assets 153.3   135.8
Total Assets   € 4,493.1   € 4,187.9
LIABILITIES AND SHAREHOLDERS' EQUITY
Accounts payable 108.9 85.0
Unearned revenues 625.0 489.0
Short-term debt 20.9 20.0
Other current liabilities 284.2 294.3
Total current liabilities 1,039.0 888.3
Long-term debt 350.0 360.0
Other non-current obligations 454.2 315.5
Total long-term liabilities 804.2 675.5
Non-controlling interests 28.9 13.6
Parent shareholders' equity 2,621.0   2,610.5
Total Liabilities and Shareholders' equity   € 4,493.1   € 4,187.9

DASSAULT SYSTEMES

CONDENSED CONSOLIDATED CASH FLOW STATEMENTS (IFRS)

(unaudited; in millions of Euros)

         
In millions of Euros   Three months ended   Six months ended
    June 30, 2014   June 30, 2013   Change   June 30, 2014   June 30, 2013   Change
Net Income attributable to equity holders of the parent 66.5   81.0   (14.5)   120.4   154.7   (34.3)
Non-controlling interest

0.0

0.8

(0.8)

0.1

1.7

(1.6)

Net Income 66.5 81.8 (15.3) 120.5 156.4 (35.9)
Depreciation of property & equipment 8.9 9.1 (0.2) 17.1 17.1 -
Amortization of intangible assets 33.8 26.1 7.7 62.9 52.0 10.9
Other non cash P&L Items (0.9) 11.7 (12.6) 10.4 7.4 3.0
Changes in working capital 64.0   39.6   24.4   143.7   120.4   23.3
Net Cash provided by operating activities € 172.3 € 168.3 € 4.0 € 354.6 € 353.3 € 1.3
 
Additions to property, equipment and intangibles (9.3) (9.2) (0.1) (14.1) (23.2) 9.1
Payments for acquisition of businesses, net of cash acquired (497.4) (26.4) (471.0) (657.3) (26.4) (630.9)
Sale (purchase) of short term investments, net 16.6 (40.6) 57.2 (26.6) (12.3) (14.3)
Purchase of investments, loans and others (2.0)   2.0   (4.0)   (6.8)   2.1   (8.9)
Net Cash provided by (used in) investing activities (€ 492.1) (€ 74.2) (€ 417.9) (€ 704.8) (€ 59.8) (€ 645.0)
 
Proceeds (Repayments) of short-term and long-term debt (10.3) 338.5 (348.8) (10.3) 338.5 (348.8)
(Purchase) Sale of treasury stock (76.5) - (76.5) (130.0) - (130.0)
Proceeds from exercise of stock options 21.3 8.3 13.0 34.6 21.6 13.0
Cash dividend paid (32.3)   (31.6)   (0.7)   (32.3)   (31.6)   (0.7)
Net Cash provided by (used in) financing activities (€ 97.8) € 315.2 (€ 413.0) (€ 138.0) € 328.5 (€ 466.5)
 
Effect of exchange rate changes on

cash and cash equivalents

5.9 (24.5) 30.4 3.8 (2.6) 6.4
                     
Increase (decrease) in cash and cash equivalents   (€ 411.7)   € 384.8   (€ 796.5)   (€ 484.4)   € 619.4   (€ 1,103.8)
                         
Cash and cash equivalents at beginning of period € 1,665.2 € 1,393.9 € 1,737.9 € 1,159.3
Cash and cash equivalents at end of period   € 1,253.5   € 1,778.7       € 1,253.5   € 1,778.7    

DASSAULT SYSTEMES

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