Dassault Systèmes Reports 2014 Organic New Licenses Revenue Up Double-Digits in Constant Currencies on Broad-based Growth

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, 2013 filed with the AMF on March 28, 2014. 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   Twelve months ended December 31,   Change
    2014   Adjustment (1)   2014   2013   Adjustment (1)   2013   IFRS   Non-IFRS (2)
    IFRS       non-IFRS   IFRS       non-IFRS        
Total Revenue   € 2 294,3   52,4   € 2 346,7   € 2 066,1   6,7   € 2 072,8   11%   13%
Total Revenue breakdown by activity                                
Software revenue   2 035,0   43,6   2 078,6   1 880,8   6,7   1 887,5   8%   10%
New Licenses   579,4   2,1   581,5   500,1           16%   16%
Other software-related revenue   11,3           8,0           41%    
Periodic Licenses and Maintenance   1 444,3   41,5   1 485,8   1 372,7   6,7   1 379,4   5%   8%
Recurring portion of Software revenue   71%       71%   73%       73%        
Services and other revenue   259,3   8,8   268,1   185,3           40%   45%
Total Software Revenue breakdown by product line                                
CATIA software revenue   838,6           818,9           2%    
ENOVIA software revenue   262,8           249,4           5%    
SOLIDWORKS software revenue   447,7           409,5           9%    
Other software revenue   485,9   43,6   529,5   403,0   6,7   409,7   21%   29%
Total Revenue breakdown by geography                                
Americas   659,1   18,3   677,4   567,2   2,4   569,6   16%   19%
Europe   1 052,8   22,7   1 075,5   937,8   2,4   940,2   12%   14%
Asia   582,4   11,4   593,8   561,1   1,9   563,0   4%   5%
Total Operating Expenses   (€ 1 863,5)   216,0   (€ 1 647,5)   (€ 1 563,1)   143,1   (€ 1 420,0)   19%   16%
Share-based compensation expense   (43,3)   43,3   -   (35,5)   35,5   -   -   -
Amortization of acquired intangibles   (133,4)   133,4   -   (100,9)   100,9   -   -   -
Other operating income and expense, net   (39,3)   39,3   -   (6,7)   6,7   -   -   -
Operating Income   € 430,8   268,4   € 699,2   € 503,0   149,8   € 652,8   (14%)   7%
Operating Margin   18,8%       29,8%   24,3%       31,5%        
Financial revenue & other, net   15,0   (1,8)   13,2   18,0   (0,4)   17,6   (17%)   (25%)
Income tax expense   (153,3)   (91,9)   (245,2)   (165,8)   (56,2)   (222,0)   (8%)   10%
Non-controlling interest   (1,2)   (0,5)   (1,7)   (2,9)   0,0   (2,9)   (59%)   (41%)
Net Income attributable to shareholders   € 291,3   174,2   € 465,5   € 352,3   93,2   € 445,5   (17%)   4%
Diluted Net Income Per Share (3)   € 1,14   0,68   € 1,82   € 1,38   0,37   € 1,75   (17%)   4%

(1) In the reconciliation schedule above, (i) all adjustments to IFRS revenue data reflect the exclusion of the deferred revenue adjustment of acquired companies; (ii) adjustments to IFRS operating expense data reflect the exclusion of the amortization of acquired intangibles, share-based compensation expense and related social charges, and other operating income and expense, (iii) adjustments to IFRS financial revenue and other, net reflect the exclusion of certain one-time items included in financial revenue and other, net, and (iv) all adjustments to IFRS income data reflect the combined effect of these adjustments, plus with respect to net income and diluted net income per share, the income tax effect of the non-IFRS adjustments and certain one-time tax effects.

                                 
    Twelve months ended December 31,        
In millions of Euros   2014 IFRS   Adjustment   2014   2013 IFRS   Adjustment   2013        
            non-IFRS           non-IFRS        
Cost of revenue   (343,2)   1,1   (342,1)   (261,4)   0,9   (260,5)        
Research and development   (409,7)   16,9   (392,8)   (375,5)   14,8   (360,7)        
Marketing and sales   (748,5)   13,9   (734,6)   (665,2)   12,0   (653,2)        
General and administrative   (189,4)   11,4   (178,0)   (153,4)   7,8   (145,6)        
Total share-based compensation expense       43,3           35,5            

(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 255.3 million diluted shares for 2014 and 255.2 million diluted shares for 2013, adjusted to reflect the two-for-one stock split effected on July 17, 2014.


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