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

(2) The non-IFRS percentage increase (decrease) compares non-IFRS measures for the two different periods. In the event there is non-IFRS adjustment to the relevant measure for only one of the periods under comparison, the non-IFRS increase (decrease) compares the non-IFRS measure to the relevant IFRS measure.

(3) Based on a weighted average 127.4 million diluted shares for Q2 2014 and 127.5 million diluted shares for Q2 2013.

DASSAULT SYSTEMES
SUPPLEMENTAL NON-IFRS FINANCIAL INFORMATION
IFRS – NON-IFRS RECONCILIATION
(unaudited; in millions of Euros, except per share data)

Readers are cautioned that the supplemental non-IFRS information presented in this press release is subject to inherent limitations. It is not based on any comprehensive set of accounting rules or principles and should not be considered as a substitute for IFRS measurements. Also, the Company’s supplemental non-IFRS financial information may not be comparable to similarly titled non-IFRS measures used by other companies. Further specific limitations for individual non-IFRS measures, and the reasons for presenting non-IFRS financial information, are set forth in the Company’s Document de référence for the year ended December 31, 2013 filed with the AMF on March 28, 2014. To compensate for these limitations, the supplemental non-IFRS financial information should be read not in isolation, but only in conjunction with the Company’s consolidated financial statements prepared in accordance with IFRS.

                         
In millions of Euros, except per share data and percentages   Six months ended June 30,   Change
2014   Adjustment (1)   2014   2013   Adjustment (1)   2013   IFRS   Non-IFRS (2)
    IFRS       non-IFRS   IFRS       non-IFRS        
Total Revenue € 1,059.0 13.9 € 1,072.9 € 1,007.3 3.4 € 1,010.7 5% 6%
Total Revenue breakdown by activity
Software revenue 945.2 12.9 958.1 920.9 3.4 924.3 3% 4%
New Licenses 257.7 0.4 258.1 243.2 6% 6%
Other software-related revenue 4.1 2.1 95%
Periodic Licenses and Maintenance 683.4 12.5 695.9 675.6 3.4 679.0 1% 2%
Recurring portion of Software revenue 72% 73% 73% 73%
Services and other revenue 113.8 1.0 114.8 86.4 32% 33%
Total Software Revenue breakdown by product line
CATIA software revenue 404.3 405.6 (0%)
ENOVIA software revenue 125.0 121.1 3%
SOLIDWORKS software revenue 211.3 207.5 2%
Other software revenue 204.6 12.9 217.5 186.7 3.4 190.1 10% 14%
Total Revenue breakdown by geography
Americas 295.3 6.0 301.3 278.8 1.0 279.8 6% 8%
Europe 490.7 5.6 496.3 446.5 0.6 447.1 10% 11%
Asia   273.0   2.3   275.3   282.0   1.8   283.8   (3%)   (3%)
Total Operating Expenses (€ 879.1) 107.9 (€ 771.2) (€ 783.6) 71.3 (€ 712.3) 12% 8%
Share-based compensation expense (28.8) 28.8 - (18.3) 18.3 - - -
Amortization of acquired intangibles (57.5) 57.5 - (48.8) 48.8 - - -
Other operating income and expense, net   (21.6)   21.6   -   (4.2)   4.2   -   -   -
Operating Income € 179.9 121.8 € 301.7 € 223.7 74.7 € 298.4 (20%) 1%
Operating Margin 17.0% 28.1% 22.2% 29.5%
Financial revenue & other, net 7.4 0.0 7.4 11.8 (0.7) 11.1 (37%) (33%)
Income tax expense (66.8) (40.7) (107.5) (79.1) (24.1) (103.2) (16%) 4%
Non-controlling interest (0.1) (0.3) (0.4) (1.7) 0.0 (1.7) (94%) (76%)
Net Income attributable to shareholders € 120.4 80.8 € 201.2 € 154.7 49.9 € 204.6 (22%) (2%)
Diluted Net Income Per Share (3)   € 0.94   0.64   € 1.58   € 1.22   0.39   € 1.61   (23%)   (2%)

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