- IFRS total revenue increased 10%. Non-IFRS total revenue increased 10% with software revenue growth of 9% and services and other revenue growth of 15%. Fourth quarter results include the addition of CST, following the completion of its acquisition on September 30, 2016. Excluding acquisitions, total revenue growth would have been 8%. (All growth rates are in constant currencies.)
- On a regional basis, non-IFRS software revenue increased 7% in Asia with India and South Korea posting the strongest growth. Software revenue increased 13% in Europe, led by France, Germany and Russia. In the Americas, software revenue increased 6% with North America results reflecting a strong comparison base with several mega-deals in the 2015 fourth quarter. (All growth comparisons are in constant currencies.)
- Non-IFRS new licenses revenue increased 10% in constant currencies with double-digit growth in Aerospace & Defense, High Tech, Energy, Process & Utilities, Business Services and Marine & Offshore.
- Non-IFRS recurring software revenue increased 9% in constant currencies on globally strong results for maintenance subscription revenue, and rental subscription growth in all three regions.
- By product line and on a non-IFRS basis, SOLIDWORKS software revenue increased 13% reflecting strong growth in recurring software revenue. CATIA software revenue increased 2%, with growth in CATIA 3DEXPERIENCE sales offset in part by lower Version 5 sales. ENOVIA software revenue decreased 4% on a high base of comparison. Other Software increased 21% reflecting the addition of the CST acquisition and a good dynamic across most product lines led by DELMIA and Quintiq. (All growth comparisons are in constant currencies.)
- IFRS operating income increased 5%. Non-IFRS operating income rose 8% to €311.5 million. The non-IFRS operating margin was 35.3%, compared to 35.8% in the year-ago quarter, but was unchanged on an organic basis excluding currency fluctuations. Acquisitions had a net negative impact on the non-IFRS operating margin of about 20 basis points, and currency of 30 basis points.
- The IFRS effective tax rate decreased to 38.7% compared to 40.3% in the year-ago quarter. The non-IFRS effective tax rate decreased to 35.5% from 36.0% in the 2015 fourth quarter.
- IFRS net income per diluted share increased 14% to €0.56 per share. Non-IFRS net income per diluted share increased 10% to €0.78.
|
2016 Full Year Financial Summary (Unaudited) |
||||||||||||
| In millions of Euros, except per share data | IFRS | Non-IFRS | ||||||||||
| Change | Change in cc* | Change | Change in cc* | |||||||||
| YTD 2016 Total Revenue | 3,055.6 | 8% | 8% | 3,065.6 | 7% | 7% | ||||||
| YTD 2016 Software Revenue | 2,694.7 | 8% | 8% | 2,704.3 | 7% | 7% | ||||||
| YTD 2016 Services and other revenue | 360.9 | 7% | 7% | 361.3 | 7% | 7% | ||||||
| YTD 2016 Operating Margin | 22.0% | 31.2% | ||||||||||
| YTD 2016 EPS | 1.74 | 11% | 2.49 | 11% | ||||||||
| Total Software Revenue in millions of Euros | IFRS | Non-IFRS | ||||||||||
| YTD 2016 | YTD 2015 | Change in cc* | YTD 2016 | YTD 2015 | Change in cc* | |||||||
| Americas | 815.5 | 756.3 | 8% | 818.8 | 775.4 | 6% | ||||||
| Europe | 1,139.1 | 1,077.0 | 8% | 1,144.5 | 1,087.9 | 8% | ||||||
| Asia | 740.1 | 669.5 | 8% | 741.0 | 674.6 | 8% | ||||||
