Dassault Systèmes Reports Strong 3DEXPERIENCE-driven Growth with Fourth Quarter Total Revenue up 13% and Software Revenue up 11% at Constant Currency

While constant currency calculations are not considered to be an IFRS measure, we do believe these measures are critical to understanding our global revenue results and to compare with many of our competitors who report their financial results in U.S. dollars. Therefore, we are including this calculation for comparing IFRS revenue figures for comparable periods as well as for comparing non-IFRS revenue figures for comparable periods. All constant currency information is provided on an approximate basis. Unless otherwise indicated, the impact of exchange rate fluctuations is approximately the same for both the Company’s IFRS and supplemental non-IFRS financial data.

Information on Growth excluding acquisitions (“organic growth”)

In addition to discussing total growth, we also provide financial information where we discuss growth excluding acquisitions or growth on an organic basis as used alternatively. In both cases, growth excluding acquisitions have been calculated using the following restatements of the scope of consolidation: for entities entering the consolidation scope in the current year, subtracting the contribution of the acquisition from the aggregates of the current year, and for entities entering the consolidation scope in the previous year, subtracting the contribution of the acquisition from January 1st of the current year, until the last day of the month of the current year when the acquisition was made the previous year.

Information on Industrial Sectors

Our global customer base includes companies in 12 industrial sectors: Transportation & Mobility; Industrial Equipment; Aerospace & Defense; Financial & Business Services; High-Tech; Life Sciences; Energy, Process & Utilities; Consumer Goods & Retail; Natural Resources; Architecture, Engineering & Construction; Consumer Packaged Goods & Retail and Marine & Offshore. Commencing in 2012 we implemented an industry go-to-market strategy with the dual objectives of broadening and deepening our presence in our largest industries as well as increasing the contribution from a diversified set of industrial sectors. “Diversification Industries” include: Architecture, Engineering & Construction; Consumer Goods & Retail; Consumer Packaged Goods & Retail; Energy, Process & Utilities; Finance Business Services; High-Tech; Life Sciences; Marine & Offshore; and Natural Resources. “Core Industries” include: Transportation & Mobility, Industrial Equipment, Aerospace & Defense and a portion of Business Services.

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”).

IAS 18

DASSAULT SYSTEMES
NON-IFRS IAS 18 FINANCIAL INFORMATION
(unaudited; in millions of Euros, except per share data, 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, other operating income and expense, net, including impairment of goodwill and acquired intangible assets, certain one-time financial revenue items, certain one-time tax effects 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 and percentages Three months ended   Twelve months ended
 

December 31,
2018

 

December 31,
2017

  Change  

Change in
cc*

 

December 31,
2018

 

December 31,
2017

  Change  

Change in
cc*

Non-IFRS-IAS18 Revenue € 1,044.9   € 912.8   14%   13% € 3,488.0 € 3,242.0   8%   10%
 
Non-IFRS-IAS18 Revenue breakdown by activity
Software revenue 912.6 813.8 12% 11% 3,090.8 2,883.2 7% 10%
of which licenses and other software revenue 335.7 295.8 14% 13% 923.5 855.8 8% 11%
of which subscription and support revenue 576.9 518.0 11% 10% 2,167.3 2,027.4 7% 9%
Services revenue 132.3 99.0 34% 33% 397.2 358.8 11% 14%
 
Non-IFRS-IAS18 software revenue breakdown by product line
CATIA software revenue 292.4 288.5 1% 2% 1,030.8 1,004.9 3% 4%
ENOVIA software revenue 116.0 86.2 35% 33% 358.7 321.9 11% 14%
SOLIDWORKS software revenue 208.3 178.7 17% 12% 746.1 695.8 7% 10%
Other software revenue 295.8 260.4 14% 13% 955.2 860.6 11% 15%
 
Non-IFRS-IAS18 Revenue breakdown by geography
Americas 284.8 260.4 9% 7% 1,019.3 982.1 4% 9%
Europe 492.9 429.0 15% 15% 1,516.6 1,406.5 8% 9%
Asia   267.2   223.4   20%   18%   952.1   853.4   12%   15%
 
Non-IFRS-IAS18 operating income € 390.8 € 351.9 11% € 1,109.4 € 1,037.1 7%
Non-IFRS-IAS18 operating margin 37.4% 38.6% 31.8% 32.0%
Non-IFRS net income attributable to shareholders € 287.3 € 232.2 24% € 811.1 € 692.9 17%
Non-IFRS-IAS18 diluted net income per share   € 1.10   € 0.89   24%   24%   € 3.11   € 2.68   16%   20%
Closing headcount**   17,030   16,140   6%       17,030   16,140   6%    
 
Average Rate USD per Euro 1.14 1.18 -3% 1.18 1.13 4%
Average Rate JPY per Euro   128.80   132.90   -3%       130.40   126.70   3%    

* In constant currencies

** Headcount includes subcontractors

 

IAS 18

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