Net operating cash flow was € 151.5 million and €416.8 million for the three and six-months ended June 30, 2015, compared to €172.3 and €354.6 million for the 2014 respective periods. Second quarter 2015 changes in working capital includes the payment of €60 million in connection with ongoing tax proceedings. Excluding this item, operating cash flow would have been increasing 23% compared with the same period of 2014.
In the 2015 First Half, the Company uses of cash were principally for cash dividends of €95.6 million, payment for acquisitions of €18.1 million and capital expenditures of €18.0 million. The Company received cash for stock options exercised of €19.5 million.
At June 30, 2015, the Company’s net financial position totaled €1.15 billion, compared to €825.5 million at December 31, 2014, reflecting an increase in cash, cash equivalents and short-term investments to €1.50 billion, compared to €1.18 billion at December 31, 2014, with long-term debt unchanged at €350.0 million.
Summary of Recent Business, Technology and Customer Highlights
On June 16, 2015, Dassault Systèmes announced collaboration with the National Research Foundation (NRF), Prime Minister’s Office, Singapore, to develop Virtual Singapore, a realistic and integrated 3D model. This project builds upon Dassault Systèmes’ 3DEXPERIENCity, powered by the 3DEXPERIENCE platform, to create a dynamic, 3D digital model of Singapore and connect all stakeholders in a secured and controlled environment. Virtual Singapore is a collaborative platform with a rich data environment and visualization techniques that will be used by Singapore’s citizens, businesses, government and research community to develop tools and services that address the emerging and complex challenges Singapore faces. Virtual Singapore was launched in December 2014 as part of Singapore’s Smart Nation drive.
On June 18, 2015, Dassault Systèmes and Safran, a leading international high-technology group in aerospace, defense and security, announced that they had entered into a strategic partnership for Additive Manufacturing (known as 3D printing in other industries), with the goal to develop an end-to-end digital continuity for the additive manufacturing of aerospace engine parts. The partnership combines Dassault Systèmes’ 3DEXPERIENCE platform with Safran’s expertise in innovative technologies, for the development of a world-class, end-to-end digital solution for additive manufacturing. The effective use of this manufacturing process in the aviation industry can enhance production times as well as product performance in terms of strength, weight and environmental impact.
On June 18, 2015, Dassault Systèmes announced that Hispano-Suiza, a globally-recognized specialist in mechanical power transmission systems for aircraft engines and part of Safran, a leading international high-technology group in aerospace, defense and security, selected the Company’s Co-Design to Target” industry solution experience based on the 3DEXPERIENCE platform to improve the efficiency of its design and engineering programs. ‘Co-Design to Target’ delivers a secure, single source of the truth that facilitates the exchange of data within and between every domain of a company’s aviation design, engineering and manufacturing programs.
On June 15, 2015, the Company announced that Airbus Helicopters, the world’s leading manufacturer of civil and military helicopters and a division of Airbus Group, has chosen Dassault Systèmes’ “Build to Operate” industry solution experience for more efficient and profitable manufacturing operations management of its helicopter programs. Airbus Helicopters was seeking a powerful factory planning and shop-floor solution that would reduce its time-to-market and improve operational efficiency. The “Build to Operate” industry solution experience, specifically tailored for the aerospace and defense industry and leveraging the DELMIA Apriso manufacturing portfolio, will enable Airbus Helicopters to monitor, control and validate all aspects of manufacturing operations with digital precision—ranging from replicable processes and production sequences, to the flow of deliverables throughout their supply chain.
On May 26, 2015 the Company announced that Myntra, India’s largest online platform for fashion and lifestyle, selected its ‘My Collection for Fashion’ industry solution experience to accelerate its internal and external processes. Dassault Systèmes’ My Collection for Fashion is an ISE which enables teams inside and outside a company to engage more efficiently in social innovation, connected design, seamless collaboration and supply chain coordination.
Other Corporate Events
On June 15, 2015, Dassault Systèmes completed the change of the legal status of the Company from that of a French Public Limited Company (Société anonyme) to that of a European Company. The adoption of the status of European Company (Societas Europaea, SE) is reflecting the international dimension of the Company and its growing presence in Europe.
On May 28, 2015 at the Annual Shareholders’ Meeting, shareholders approved an annual dividend per share equivalent to €0.43 per share for the fiscal year ended December 31, 2014, representing an increase of approximately 4% compared to the prior year. In addition, shareholders again approved an option to receive payment of the dividend in the form of cash or in new Dassault Systèmes share. The payment of the dividend was completed on June 25, 2015 with the cash payment in the aggregate amount of €95.6 million and the issuance of 185,709 new ordinary shares.