Dassault Systèmes Reports Double-digit Software Revenue and EPS Growth for 2012

Dassault Systèmes Reports Double-digit Software Revenue and EPS Growth for 2012

PARIS--(BUSINESS WIRE)-- Regulatory News:

Dassault Systèmes (Euronext Paris: #13065, DSY.PA) (Paris:DSY), the 3DEXPERIENCE Company, world leader in 3D design software, 3D Digital Mock Up and Product Lifecycle Management (PLM) solutions, today reports IFRS unaudited financial results for the fourth quarter and year ended December 31, 2012. These results were reviewed by the Company's Board of Directors on February 4, 2013.


Summary Highlights
(unaudited)

  • Q4 2012 financial results well in line with Company objectives
  • 2012 EPS up 14% (IFRS) and 15% to €3.37 (non-IFRS)
  • 2012 non-IFRS operating margin expands 120 basis points to 31.6%
  • 2012 net operating cash flow up 26% to €566 million
  • 3DEXPERIENCE strategy and Industry Solutions Experience launched in 2012
  • 20,000 new customers in 2012 through expansion of indirect sales channels
  • Initiates 2013 objectives: non-IFRS revenue growth of 5-7% in constant currencies

2012 Financial Summary

(unaudited)

 
In millions of Euros, except per share data       IFRS       Non-IFRS
              Change       Change in cc*               Change       Change in cc*
FY 2012 Total Revenue       2,028.3       14%       9%       2,038.5       14%       9%
FY 2012 Software Revenue       1,843.2       14%       9%       1,853.4       15%       10%
FY 2012 EPS       2.66       14%               3.37       15%        
FY 2012 Operating Margin       24.7%                       31.6%                

*In constant currencies.

                             

"2012 represents an important juncture, with the unveiling of the new Dassault Systèmes, the 3DEXPERIENCE Company, and the launching of our Social Industry Experience strategy. It was a year of unprecedented transformation within the Company in order to best position us to access a market sized at $32 billion, doubling the current addressable market," commented Bernard Charlès, Dassault Systèmes President and Chief Executive Officer. "We successfully launched value-driven Industry Solutions Experience to cover key client processes across the different industries we address."

"The reception of 3DEXPERIENCE as the next Company horizon was very good, with key customers wins to illustrate it. In addition, thanks to our indirect channels capacity extension, we won 20,000 new customers in 2012, a record so far, and thanks to our brands, we reached 10 million users."

"Finally, 2012 was also a record year financially for both revenue and earnings. We crossed the €2 billion revenue milestone thanks to non-IFRS software revenue growth of 10% in constant currencies and delivered non-IFRS earnings per share growth of 15%, demonstrating our ability to execute on our ambitious roadmap for the future while also maintaining a strong operational focus."

2012 Fourth Quarter Financial Summary

(unaudited)

 

In millions of Euros, except per share data       IFRS       Non-IFRS
              Change       Change in cc*               Change       Change in cc*
Q4 Total Revenue       563.5       10%       7%       568.2       11%       8%
Q4 Software Revenue       510.8       11%       8%       515.5       12%       9%
Q4 EPS       0.76       12%               1.02       17%        
Q4 Operating Margin       27.9%                       34.7%                
                                                 
 
 
In millions of Euros IFRS       Non-IFRS
      Q4 2012       Q4 2011       Change in cc*       Q4 2012       Q4 2011       Change in cc*
Total Revenue       563.5       512.1       7%       568.2       512.1       8%
Software Revenue       510.8       462.1       8%       515.5       462.1       9%
Services and other Revenue       52.7       50.0       3%       52.7       50.0       3%
                                                 
PLM software Revenue       407.4       371.0       7%       412.1       371.0       8%
SOLIDWORKS software Revenue       103.4       91.1       11%       103.4       91.1       11%
                                                 
Americas       152.6       135.7       8%       154.0       135.6       9%
Europe       265.8       251.3       5%       266.7       251.4       5%
Asia       145.1       125.1       12%       147.5       125.1       14%

*In constant currencies.

                             
  • Revenue results for the fourth quarter were well in line with the Company's expectations, evidenced by a mixed economic climate as reflected in lower seasonal growth in new licenses revenue and also reflected a strong year-ago comparison, notably for Europe.
  • Total revenue grew 7% (IFRS) and 8% (non-IFRS) in constant currencies. By region and in constant currencies, non-IFRS revenue growth was highest in Asia, up 14%, led by Japan, Korea and China. In the Americas, non-IFRS revenue increased 9% year on year through growth in both North America and Latin America. Non-IFRS revenue growth in Europe of 5% was led by Germany and France.
  • Software revenue increased 8% (IFRS) and 9% (non-IFRS), with recurring revenue up 10% (IFRS) and 11% (non-IFRS) and new licensing revenue up 3%. Recurring revenue is comprised of maintenance and rental licensing, the latter being up 20%. Regionally, new licenses revenue growth was strongest in Asia while rental licensing activity was strongest in Europe and the Americas (All growth comparisons are in constant currencies).
  • IFRS operating income increased 16% to €157.0 million and IFRS earnings per diluted share increased 12% to €0.76. Non-IFRS earnings per diluted share increased 17% to €1.02 on operating income growth of 18% and the non-IFRS operating margin was 34.7% compared to 32.8% in the year-ago period.
  • PLM software revenue increased 7% (IFRS) and 8% (non-IFRS). Non-IFRS PLM software revenue growth was led by Other PLM, with strong performances by SIMULIA, DELMIA and 3DVIA up double-digits and including the addition of Gemcom. CATIA software revenue increased 1%. ENOVIA software revenue growth was flat (All growth comparisons are in constant currencies).
  • SOLIDWORKS software revenue increased 11% in constant currencies benefiting from both new licensing activity and growth in recurring software revenue.New SOLIDWORKS commercial seats licensed in the quarter increased 13% to 13,751.

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2012 Financial Summary

(unaudited)

 
In millions of Euros       IFRS       Non-IFRS
      FY 2012       FY 2011       Change in cc*       FY 2012       FY 2011       Change in cc*
Total Revenue       2,028.3       1,783.0       9%       2,038.5       1,783.5       9%
Software Revenue       1,843.2       1,616.9       9%       1,853.4       1,617.4       10%
Services and other Revenue       185.1       166.1       7%       185.1       166.1       7%
                                                 
PLM software Revenue       1,440.0       1,275.9       8%       1,450.2       1,276.4       9%
SOLIDWORKS software Revenue       403.2       341.0       12%       403.2       341.0       12%
                                                 
Americas       564.3       488.8       7%       567.3       488.8       7%
Europe       908.9       827.1       8%       910.9       827.3       8%
Asia       555.1       467.1       13%       560.3       467.4       14%

*In constant currencies.

       
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