** 2013 EPS adjusted to reflect the two-for-one stock split effected on July 17, 2014
- IFRS total revenue increased 16%, with total software growth of 13%, and services and other revenue higher by 46% reflecting the service component from 2014 acquisitions. Non-IFRS total revenue increased 20%, with software revenue growth of 17% and services and other revenue growth of 54%. Excluding acquisitions, non-IFRS total revenue increased 5% and non-IFRS software revenue increased 7%. (All growth rates in constant currencies.)
- From a regional perspective, non-IFRS revenue in Europe increased 17%, with Germany and Southern Europe reporting the strongest sales performance. Non-IFRS revenue in the Americas increased 29% on strengthening North American results. In Asia, non-IFRS revenue growth of 16% was led by China, Japan and Korea. (All growth rates in constant currencies.)
- New licenses revenue grew 24% (IFRS and non-IFRS). On an organic basis, non-IFRS new licenses revenue increased 12%, led by strong growth in the Americas and Europe. Recurring software revenue increased 9% (IFRS) and 13% (non-IFRS). (All growth rates in constant currencies.)
- By product line and on a non-IFRS basis, CATIA software increased 8% and ENOVIA software increased 5%; SOLIDWORKS software increased 14% with new seats licensed up 6% to 15,312; Other software increased 42% reflecting new acquisitions and double-digit software growth for SIMULIA, offset in part by softer results in mining and manufacturing. (All growth comparisons are in constant currencies.)
- IFRS operating income of €148.6 million was lower by 10.5%, while non-IFRS operating income increased 14.2% to €225.4 million. The non-IFRS operating margin was 32.5%, lower in comparison to the year-ago period as anticipated, reflecting dilution from acquisitions mitigated in part by improvement of the organic operating margin.
- The IFRS effective tax rate was 33.4% compared to 35.5% in the year-ago period, principally due to lower tax reserves. The non-IFRS effective tax rate was 34.0% compared to 35.4% in the year-ago quarter.
- IFRS diluted net income per share was €0.39 per share, compared to €0.43 per share on a split-adjusted basis in the year-ago period. Non-IFRS diluted net income per share increased 15% to €0.58 per share. The Company noted that currency had a net neutral effect on non-IFRS earnings per share.
|
2014 Financial Summary (unaudited) |
||||||||||||
| In millions of Euros, except per share data | IFRS | Non-IFRS | ||||||||||
| Change | Change in cc* | Change | Change in cc* | |||||||||
| FY 2014 Total Revenue | 2 294,3 | 11% | 14% | 2 346,7 | 13% | 16% | ||||||
| FY 2014 Software Revenue | 2 035,0 | 8% | 11% | 2 078,6 | 10% | 13% | ||||||
| FY 2014 Services and other revenue | 259,3 | 40% | 41% | 268,1 | 45% | 46% | ||||||
| FY 2014 Operating Margin | 18,8% | 29,8% | ||||||||||
| FY 2014 EPS | 1,14 | (17%) | 1,82 | 4% | ||||||||
| In millions of Euros | IFRS | Non-IFRS | ||||||||||
| FY 2014 | FY 2013 | Change in cc* | FY 2014 | FY 2013 | Change in cc* | |||||||
| Americas | 659,1 | 567,2 | 17% | 677,4 | 569,6 | 20% | ||||||
| Europe | 1 052,8 | 937,8 | 12% | 1 075,5 | 940,2 | 14% | ||||||
| Asia | 582,4 | 561,1 | 14% | 593,8 | 563,0 | 15% | ||||||
