Dassault Systèmes Reports Solid Third Quarter Led by Large Accounts Industry Solutions Engagements

Since inception, SOLIDWORKS educational licenses exceed 1.8 million.

Business Outlook

Thibault de Tersant, Senior Executive Vice President, CFO, commented, “Our third quarter performance tracked with our financial objectives, with revenue in line and operating margin evolution somewhat ahead. Our revenue results demonstrated solid demand across our largest brands. We were particularly pleased with the sharply higher new licenses revenue growth for both CATIA and ENOVIA, in the quarter as well as year-to-date on a constant currency basis.

“We said at the start of the year that we were focused on driving a substantial improvement in our organic operating margin to mitigate the dilution impact of our acquisitions and we have, with a year-to-date improvement of about 150 basis points in our organic non-IFRS operating margin.

“Turning to our objectives, despite the more difficult economic environment, notably in Europe, we reaffirm our financial objectives and update them for the inclusion of the recently closed Quintiq acquisition and currency exchange rate assumptions.”

The Company’s fourth quarter and full year 2014 financial objectives, including the recently completed acquisition of Quintiq, are as follows:

  • Fourth quarter 2014 non-IFRS total revenue objective of about €670-680 million based upon the exchange rates assumptions below, representing a variation of about 18% to 19% excluding currency effects; non-IFRS operating margin of about 30.0% to 31.5%; and non-IFRS EPS of about €0.50 to €0.55;
  • 2014 non-IFRS revenue growth objective range of about 15% to 16% in constant currencies (€2.325 to €2.335 billion based upon the 2014 currency exchange rate assumptions below);
  • 2014 non-IFRS operating margin of about 29.5%, reflecting an increase before currency effects in the organic operating margin compared to 2013 of about 150 basis points;
  • 2014 non-IFRS EPS range of about €1.75-1.80, stable to up slightly compared to 2013; excluding the estimated net negative currencies impact, the non-IFRS EPS objective would represent an estimated 8% growth compared to 2013.
  • Objectives are based upon exchange rate assumptions of US$1.30 per €1.00 and JPY140 per €1.00 for the 2014 fourth quarter and US$1.34 per €1.00 and JPY139.6 per €1.00 for the fiscal year.

The Company’s objectives are prepared and communicated only on a non-IFRS basis and are subject to the cautionary statement set forth below.

The 2014 non-IFRS objectives set forth above do not take into account the following accounting elements, are estimated based upon the 2014 currency exchange rates above and include the impact from the recently completed Quintiq acquisition: deferred revenue write-downs estimated at approximately €52 million, share-based compensation expense, including related social charges, estimated at approximately €41 million and amortization of acquired intangibles estimated at approximately €129 million. The above objectives do not include any impact from other operating income and expense, net principally comprised of acquisition, integration and restructuring expenses. Finally, these estimates do not include any new stock option or share grants, or any new acquisitions or restructurings completed after October 23, 2014.

Today’s Webcast and Conference Call Information

Today, Thursday, October 23, 2014, Dassault Systèmes will first host a meeting in London, which will be simultaneously webcasted at 8:30 AM London time/9:30 AM Paris time and will then also host a conference call at 9:00 AM New York time/ 2:00 PM London time/3:00 PM Paris time. The webcasted meeting and conference call will be available via the Internet by accessing http://www.3ds.com/investors/. Please go to the website at least 15 minutes prior to the webcast or conference call to register, download and install any necessary audio software. The webcast and conference call will be archived for 30 days.

Additional investor information can be accessed at http://www.3ds.com/investors/ or by calling Dassault Systèmes’ Investor Relations at 33.1.61.62.69.24.

2014 Key Investor Relations Events

Fourth Quarter 2014 Earnings, February 5, 2015

Forward-looking Information

Statements herein that are not historical facts but express expectations or objectives for the future, including but not limited to statements regarding the Company’s non-IFRS financial performance objectives, are forward-looking statements.

Such forward-looking statements are based on Dassault Systèmes management's current views and assumptions and involve known and unknown risks and uncertainties. Actual results or performances may differ materially from those in such statements due to a range of factors. The Company’s current outlook for 2014 takes into consideration, among other things, an uncertain macroeconomic outlook, but if global economic and business conditions further deteriorate, the Company’s business results may not develop as currently anticipated and may drop below their earlier levels for an extended period of time. Furthermore, due to factors affecting sales of the Company’s products and services as described above, there may be a substantial time lag between an improvement in global economic and business conditions and an upswing in the Company’s business results.

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