In preparing such forward-looking statements, the Company has in particular assumed an average US dollar to euro exchange rate of US$1.30 per €1.00 for the fourth quarter and US$1.34 per €1.00 for the full year as well as an average Japanese yen to euro exchange rate of JPY140 to €1.00 for the 2014 fourth quarter and JPY139.6 to €1.00 for the full year; however, currency values fluctuate, and the Company’s results of operations may be significantly affected by changes in exchange rates.
The Company’s actual results or performance may also be materially negatively affected by numerous risks and uncertainties, as described in the “Risk Factors” section of the 2013 Document de Référence, filed with the AMF on March 28, 2014, and also available on the Company’s website www.3ds.com.
Non-IFRS Financial Information
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 annual report for the year ended December 31, 2013 included in the Company’s 2013 Document de Référence filed with the AMF on March 28, 2014.
In the tables accompanying this press release the Company sets forth its supplemental non-IFRS figures for revenue, operating income, operating margin, net income and diluted earnings per share, which exclude the effect of adjusting the carrying value of acquired companies’ deferred revenue, share-based compensation expense and related social charges, the amortization of acquired intangible assets, other operating income and expense, net, certain one-time items included in financial revenue and other, net, and the income tax effect of the non-IFRS adjustments and certain one-time tax effects. The tables also set forth the most comparable IFRS financial measure and reconciliations of this information with non-IFRS information.
Information in Constant Currencies
When the Company believes it would be helpful for understanding trends in its business, the Company provides percentage increases or decreases in its revenue (in both IFRS as well as non-IFRS) to eliminate the effect of changes in currency values, particularly the U.S. dollar and the Japanese yen, relative to the euro. When trend information is expressed herein "in constant currencies", the results of the "prior" period have first been recalculated using the average exchange rates of the comparable period in the current year, and then compared with the results of the comparable period in the current year.
This press release constitutes the quarterly financial information required by article L.451-1-2 IV of the French Monetary and Financial Code (Code Monétaire et Financier).
About Dassault Systèmes
Dassault Systèmes, the 3DEXPERIENCE Company, provides business and people with virtual universes to imagine sustainable innovations. Its world-leading solutions transform the way products are designed, produced, and supported. Dassault Systèmes’ collaborative solutions foster social innovation, expanding possibilities for the virtual world to improve the real world. The group brings value to over 190,000 customers of all sizes, in all industries, in more than 140 countries. For more information, visit www.3ds.com.
CATIA, SOLIDWORKS, ENOVIA, DELMIA, SIMULIA, GEOVIA, EXALEAD, 3D VIA, 3DSWYM, BIOVIA, NETVIBES, are registered trademarks of Dassault Systèmes or its subsidiaries in the US and/or other countries.
(Tables to Follow)
TABLE OF CONTENTS
Non-IFRS key figures
Condensed consolidated statements of income
Condensed consolidated balance sheets
Condensed consolidated cash flow statements
IFRS – non-IFRS reconciliation
DASSAULT SYSTEMES
NON-IFRS KEY FIGURES
(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, certain one-time financial revenue items and the income tax effects of these non-IFRS adjustments and certain one-time tax effects.
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 | Nine months ended | ||||||||||||||
|
September 30, 2014 |
September 30, 2013 |
Change |
Change in cc* |
September 30, 2014 |
September 30, 2013 |
Change |
Change in cc* |
|||||||||
| Non-IFRS Revenue | € 579.7 | € 496.1 | 17% | 19% | € 1,652.6 | € 1,506.8 | 10% | 14% | ||||||||
| Non-IFRS Revenue breakdown by activity | ||||||||||||||||
| Software revenue | 511.7 | 451.5 | 13% | 16% | 1,469.8 | 1,375.8 | 7% | 11% | ||||||||
| of which new licenses revenue | 123.4 | 100.0 | 23% | 23% | 381.5 | 343.2 | 11% | 14% | ||||||||
|
of which periodic licenses, maintenance and
other software-related revenue |
388.3 | 351.5 | 10% | 14% | 1,088.3 | 1,032.6 | 5% | 11% | ||||||||
| Services and other revenue | 68.0 | 44.6 | 52% | 54% | 182.8 | 131.0 | 40% | 43% | ||||||||
| Non-IFRS Recurring software revenue | 385.6 | 349.3 | 10% | 14% | 1,081.5 | 1,028.3 | 5% | 10% | ||||||||
| Non-IFRS software revenue breakdown by product line | ||||||||||||||||
| CATIA software revenue | 203.8 | 198.0 | 3% | 7% | 608.1 | 603.6 | 1% | 6% | ||||||||
| ENOVIA software revenue | 60.0 | 55.9 | 7% | 8% | 185.0 | 177.0 | 5% | 8% | ||||||||
| SOLIDWORKS software revenue | 110.5 | 97.7 | 13% | 14% | 321.8 | 305.2 | 5% | 9% | ||||||||
| Other software revenue | 137.4 | 99.9 | 38% | 38% | 354.9 | 290.0 | 22% | 27% | ||||||||
| Non-IFRS Revenue breakdown by geography | ||||||||||||||||
| Americas | 170.0 | 140.3 | 21% | 22% | 471.3 | 420.1 | 12% | 16% | ||||||||
| Europe | 253.8 | 220.1 | 15% | 15% | 750.1 | 667.2 | 12% | 13% | ||||||||
| Asia | 155.9 | 135.7 | 15% | 24% | 431.2 | 419.5 | 3% | 15% | ||||||||
| Non-IFRS operating income | € 172.1 | € 157.0 | 10% | € 473.8 | € 455.4 | 4% | ||||||||||
| Non-IFRS operating margin | 29.7% | 31.6% | 28.7% | 30.2% | ||||||||||||
| Non-IFRS net income | 115.4 | 112.3 | 3% | 316.6 | 316.9 | (0%) | ||||||||||
| Non-IFRS diluted net income per share | € 0.45 | € 0.44 | 2% | € 1.24 | € 1.24 | 0% | ||||||||||
| Closing headcount | 13.133 | 10.713 | 23% | 13.133 | 10.713 | 23% | ||||||||||
| Average Rate USD per Euro | 1.33 | 1.32 | 1% | 1.35 | 1.32 | 2% | ||||||||||
| Average Rate JPY per Euro | 137.7 | 131.0 | 5% | 139.5 | 127.4 | 9% | ||||||||||
