| Three months ended September 30, | ||||||||||||
| In millions of Euros | 2017 IFRS | Adjustment | 2017 | 2016 IFRS | Adjustment | 2016 | ||||||
| non-IFRS | non-IFRS | |||||||||||
| Cost of revenue | (110.7) | 1.1 | (109.6) | (111.5) | 0.6 | (110.9) | ||||||
| Research and development | (140.6) | 12.6 | (128.0) | (131.8) | 10.0 | (121.8) | ||||||
| Marketing and sales | (232.1) | 10.9 | (221.2) | (224.1) | 7.3 | (216.8) | ||||||
| General and administrative | (60.5) | 7.1 | (53.4) | (56.3) | 5.6 | (50.7) | ||||||
| Total share-based compensation expense | € 31.7 | € 23.5 | ||||||||||
(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 258.5 million diluted shares for Q3 2017 and 257.7 million diluted shares for Q3 2016.
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, 2016 filed with the AMF on March 22, 2017. 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 | Nine months ended September 30, | Change | ||||||||||||||
| 2017 | Adjustment (1) | 2017 | 2016 | Adjustment (1) | 2016 | IFRS | Non-IFRS (2) | |||||||||
| IFRS | non-IFRS | IFRS | non-IFRS | |||||||||||||
| Total Revenue | € 2,317.6 | € 11.6 | € 2,329.2 | € 2,180.6 | € 2.4 | € 2,183.0 | 6% | 7% | ||||||||
| Total Revenue breakdown by activity | ||||||||||||||||
| Software revenue | 2,057.8 | 11.6 | 2,069.4 | 1,928.4 | 2.0 | 1,930.4 | 7% | 7% | ||||||||
| New licenses and Other software revenue | 560.0 | 560.0 | 518.7 | 0.6 | 519.3 | 8% | 8% | |||||||||
| Periodic and Maintenance revenue | 1,497.8 | 11.6 | 1,509.4 | 1,409.7 | 1.4 | 1,411.1 | 6% | 7% | ||||||||
| Recurring portion of Software revenue | 73% | 73% | 73% | 73% | ||||||||||||
| Services revenue | 259.8 | 259.8 | 252.2 | 0.4 | 252.6 | 3% | 3% | |||||||||
| Total Software Revenue breakdown by product line | ||||||||||||||||
| CATIA software revenue | 716.4 | 716.4 | 703.0 | 703.0 | 2% | 2% | ||||||||||
| ENOVIA software revenue | 235.7 | 235.7 | 229.6 | 229.6 | 3% | 3% | ||||||||||
| SOLIDWORKS software revenue | 517.1 | 517.1 | 455.9 | 455.9 | 13% | 13% | ||||||||||
| Other software revenue | 588.6 | 11.6 | 600.2 | 539.9 | 2.0 | 541.9 | 9% | 11% | ||||||||
| Total Revenue breakdown by geography | ||||||||||||||||
| Americas | 718.2 | 3.5 | 721.7 | 673.6 | 1.2 | 674.8 | 7% | 7% | ||||||||
| Europe | 970.2 | 7.3 | 977.5 | 914.7 | 0.8 | 915.5 | 6% | 7% | ||||||||
| Asia | 629.2 | 0.8 | 630.0 | 592.3 | 0.4 | 592.7 | 6% | 6% | ||||||||
| Total Operating Expenses | (€ 1,868.8) | € 224.8 | (€ 1,644.0) | (€ 1,735.8) | € 199.0 | (€ 1,536.8) | 8% | 7% | ||||||||
| Share-based compensation expense | (86.1) | 86.1 | - | (57.5) | 57.5 | - | ||||||||||
| Amortization of acquired intangibles | (119.6) | 119.6 | - | (115.2) | 115.2 | - | ||||||||||
| Other operating income and expense, net | (19.1) | 19.1 | - | (26.3) | 26.3 | - | ||||||||||
| Operating Income | € 448.8 | € 236.4 | € 685.2 | € 444.8 | € 201.4 | € 646.2 | 1% | 6% | ||||||||
| Operating Margin | 19.4% | 29.4% | 20.4% | 29.6% | ||||||||||||
| Financial revenue & other, net | 20.9 | (20.7) | 0.2 | (17.6) | 11.4 | (6.2) | -219% | -103% | ||||||||
| Income tax expense | (154.2) | (69.5) | (223.7) | (118.6) | (78.1) | (196.7) | 30% | 14% | ||||||||
| Non-controlling interest | (1.0) | (1.0) | (4.3) | (4.3) | -77% | -77% | ||||||||||
| Net Income attributable to shareholders | € 314.5 | € 146.2 | € 460.7 | € 304.3 | € 134.7 | € 439.0 | 3% | 5% | ||||||||
| Diluted Net Income Per Share (3) | € 1.22 | € 0.57 | € 1.79 | € 1.18 | € 0.53 | € 1.71 | 3% | 5% | ||||||||
