Dassault Systemes : Third Quarter IFRS Financial Information

Bernard Charlès, Dassault Systèmes President and Chief Executive Officer, commented, Dassault Systèmes software revenue growth of 12% in constant currencies during the quarter reflected the increasing momentum of our strategy of diversification into new industries. Further, we saw particular strength coming from our collaboration and simulation software offerings in both the PLM and Mainstream 3D markets. Thanks to our brands and applications strategy, the strengthening of our sales channels, particularly in the mid-market, and growth in our customer base, we were able to deliver third quarter revenue at the high end of our objectives notwithstanding the economic crisis which started to impact our operations early September.

Based upon our year-to-date performance and fourth quarter outlook, Dassault Systèmes is positioned for solid growth in software revenue and earnings for 2008 reflecting the valuable and measurable benefits our software applications bring to an increasingly diverse group of customers throughout the world. Our goal remains the same to be a strategic partner to all our customers, in order to help them enhance their products and product innovation processes.

In the analysis of its results, DS uses supplemental adjusted IFRS financial information which is described further at the end of this press release.

  • IFRS and adjusted total revenue increased 10% in constant currencies.
  • By geographic region and in constant currencies, total IFRS revenue in Europe was up 12% (adjusted up 11%), the Americas increased 15% (adjusted up 16%), and Asia increased 1% (adjusted flat) on lower results in Japan. Revenue grew above 25% in constant currencies in the faster growing markets comprised primarily of China, India, Brazil, Eastern Europe and Russia.
  • IFRS and adjusted software revenue increased 12% in constant currencies. Adjusted software revenue growth of 12% reflected adjusted recurring software revenue growth of 18% and new licenses revenue growth of 1% (all figures in constant currencies). Recurring software revenue accounted for 67% of total software revenue in the quarter.
  • IFRS and adjusted PLM software revenue increased 11% in constant currencies. On an adjusted basis, ENOVIA software revenue increased 19% in constant currencies, SIMULIA software revenue was up double-digits in constant currencies and CATIA software revenue increased 9% in constant currencies.
  • Mid-market PLM growth was healthy reflecting the Companys continued progress in the transformation and expansion of its PLM mid-market sales channel.
  • IFRS Mainstream 3D software revenue increased 14% in constant currencies. Adjusted Mainstream 3D software revenue increased 13% in constant currencies on growth in SolidWorks installed base recurring revenue and sales of SolidWorks design, product data management and analysis software.
  • DS consulting services revenue delivered double-digit revenue growth in constant currencies. In total, Services and other revenue, representing 13% of total revenue, was flat in constant currencies during the third quarter, principally reflecting the effect of winding down certain historical channel management activities.
  • New business activity by industry included, among others:
-- Consumer Packaged Goods: Procter & Gamble in the Americas;
-- High Tech: Panasonic and Toshiba in Asia; L-3 Communications in the Americas;
-- Business Services: TUV Rheinland in Europe and American Bureau of Shipping in the Americas;
-- Industrial Machinery: Sanyo Machine Works in Asia and Stara S.A. in the Americas;
-- Automotive and Aerospace: EDAG and Piaggio Aero in Europe.
  • Cash and short-term investments totaled 829.6 million and long-term debt totaled 200.8 million at September 30, 2008.

Nine Months 2008 Financial Summary



In millions of Euros

IFRS   Adjusted



in cc*




in cc*

YTD Total Revenue 951.9   6 %   12 % 953.8   5 %   11 %
YTD Software Revenue 823.6 9 % 15 % 825.5 8 % 14 %
YTD Operating Income 192.3 22 % 227.9 11 %
YTD Net Income 144.4 33 % 162.4 14 %

* In constant currencies.

Key Business and Corporate Highlights

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