Dassault Systèmes Reports 18% Increase in New Licenses Revenue in Constant Currencies

“Our established PLM business continues to strongly progress as evidenced by new licenses revenue growth in our key brands such as ENOVIA. As announced last quarter, we are ready to pioneer the world of Information Technology to the next level: 3DExperience, as our clients are in the business of creating the best consumer experience,” commented Bernard Charlès, Dassault Systèmes President and Chief Executive Officer.

“Furthering our purpose to provide 3D experiences capable of harmonizing products, nature and life, we are announcing today plans to expand our 3DExperience platform to the world of nature with the creation of a new brand, GEOVIA, to model and simulate our planet. A first important step is the planned acquisition of Gemcom, a global leader in mining industry software solutions. Together, our goal is to help natural resources companies increase their innovation in critical areas including predictability, efficiency, safety and sustainability.”

 
First Quarter Financial Summary

(unaudited)

 
In millions of Euros       IFRS       Non-IFRS
        Q1 2012       Q1 2011       Change in cc*       Q1 2012       Q1 2011       Change in cc*
Total Revenue       462.4       409.5       10%       462.4       409.9       10%
Software Revenue       419.9       372.2       10%       419.9       372.6       10%
Services and other Revenue       42.5       37.3       11%       42.5       37.3       11%
                                                 
PLM software Revenue       321.5       288.1       9%       321.5       288.5       9%
SolidWorks software Revenue       98.4       84.1       13%       98.4       84.1       13%
                                                 
Americas       126.4       112.7       8%       126.4       112.8       8%
Europe       204.1       186.8       8%       204.1       186.8       8%
Asia       131.9       110.0       15%       131.9       110.3       15%

*In constant currencies.

  • IFRS and non-IFRS total revenue increased 10%, reflecting double-digit growth in both software and services and other revenue. IFRS and non-IFRS software revenue was up 10%. Services and other revenue increased 11% largely reflecting the growing proportion of V6 services activities. (All figures in constant currencies.)
  • The Company saw broad-based growth across new industries, including a good level of activity in consumer goods and consumer packaged goods sectors.
  • Software revenue in high growth countries increased 17% in constant currencies, with notable strength in China, and a good performance in Korea and India.
  • By region and in constant currencies, total revenue growth was highest in Asia, increasing 15%, driven by high growth countries and a better dynamic in Japan. Americas’ performance improved and Europe, after two years of sustained investment, delivered a high single-digit growth rate.
  • New licenses revenue increased 18% (IFRS and non-IFRS) in constant currencies, led regionally by Asia and well supported by double-digit growth in the Americas and Europe. ENOVIA delivered a very high year-over-year increase in new licenses revenue.
  • Recurring software revenue rose 6% (IFRS and non-IFRS) in constant currencies reflecting growth in maintenance from higher new licensing activity, strong maintenance renewals and rental licensing led by SIMULIA.
  • IFRS and non-IFRS PLM software revenue was up 9% in constant currencies, led by ENOVIA with non-IFRS software revenue growth of 17%. CATIA non-IFRS software revenue increased 6% in comparison to the year-ago quarter. Other PLM non-IFRS software revenue increased 12% led by SIMULIA (all growth comparisons in constant currencies).
  • SolidWorks software revenue increased 13% in constant currencies on double-digit growth in both new licenses revenue and recurring software revenue. New commercial seats licensed in the quarter totaled 13,408, representing an increase of 11%.
  • IFRS operating income increased 16.9% to €106.1 million and the operating margin was 22.9%. On a non-IFRS basis, operating income was up 16.5% to €135.3 million and the non-IFRS operating margin improved 100 basis points to 29.3%.
  • IFRS earnings per diluted share increased 14% to €0.58 and non-IFRS earnings per diluted share 13% to €0.71, on non-IFRS operating income improvement, offset in part by a rise in the non-IFRS effective tax rate to 34.3% from 32.1% in the year-ago period.

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