“We are very pleased with these results and we see a much larger potential over the coming years. This is because the response of all our partners to the 3DEXPERIENCE platform adoption is unanimous and enthusiastic. They see the potential of our Industry Solution Experiences and see the value for their customers.
“Finally, during the 2012 First Half, we advanced our dream of sustainable innovation for product, nature and life with the completion of the Gemcom acquisition. The new brand GEOVIA and the creation of a new Industry for Natural Resources are creating new business dynamics and new industry solutions for our core industries, too. The mastering of geophysics and modeling of our planet is and will be a key parameter for the future of Transportation & Mobility, Marine & Offshore, Industrial Equipment and Energy, Process & Utilities.”
|
2012 Second Quarter Financial Summary |
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(unaudited) |
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| In millions of Euros | IFRS | Non-IFRS | ||||||||||||||||||||||
| Q2 2012 | Q2 2011 | Change in cc* | Q2 2012 | Q2 2011 | Change in cc* | |||||||||||||||||||
| Total Revenue | 502.9 | 428.6 | 10% | 502.9 | 428.6 | 10% | ||||||||||||||||||
| Software Revenue | 457.8 | 388.4 | 11% | 457.8 | 388.4 | 11% | ||||||||||||||||||
| Services and other Revenue | 45.1 | 40.2 | 6% | 45.1 | 40.2 | 6% | ||||||||||||||||||
| PLM software Revenue | 356.3 | 307.0 | 9% | 356.3 | 307.0 | 9% | ||||||||||||||||||
| SOLIDWORKS software Revenue | 101.5 | 81.4 | 15% | 101.5 | 81.4 | 15% | ||||||||||||||||||
| Americas | 139.2 | 124.4 | 0% | 139.2 | 124.4 | 0% | ||||||||||||||||||
| Europe | 228.2 | 188.4 | 19% | 228.2 | 188.4 | 19% | ||||||||||||||||||
| Asia | 135.5 | 115.8 | 8% | 135.5 | 115.8 | 8% | ||||||||||||||||||
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*In constant currencies. |
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- IFRS and non-IFRS total revenue increased 10%, principally reflecting software revenue growth of 11%. Services and other revenue increased 6% and the services non-IFRS gross margin improved to 5.1% in the quarter. (All figures in constant currencies.)
- By region and in constant currencies, revenue growth was highest in Europe, increasing 19%, reflecting strong growth across the Company’s major brands. Asia increased 8% with continued improvement in Korea and Japan. In the Americas, the Company’s recurring software revenue growth tracked expected trends while new licenses software revenue results reflected lengthening of sales cycles.
- New business activity in the quarter was reflected in new licenses revenue growth of 9% (IFRS and non-IFRS) and rental revenue growth of 20% (both figures in constant currency).
- Recurring software revenue increased 11% (IFRS and non-IFRS) in constant currencies reflecting growth in maintenance as well as higher rental licensing revenue for CATIA, ENOVIA and SIMULIA.
- IFRS and non-IFRS PLM software revenue increased 9%, with SIMULIA driving Other PLM non-IFRS software revenue growth of 13%; CATIA non-IFRS software revenue increased 8% with double-digit new licenses revenue growth; and ENOVIA non-IFRS software revenue grew 9% (all growth comparisons in constant currencies).
- New V6 transactions in the second quarter were completed with companies in the Aerospace & Defense, High Tech, Energy, Life Sciences and Consumer Packaged Goods & Retail industries. Additional business was done with existing V6 customers including Renault, Jaguar Land Rover, Alstom and LG Electronics.
- SOLIDWORKS software revenue increased 15% in constant currencies on double-digit growth in both new licenses revenue and recurring software revenue. New commercial seats licensed in the quarter increased 16% to 13,844.
- IFRS operating income increased 35.7% to €126.5 million and the operating margin increased to 25.2% from 21.7%. On a non-IFRS basis, operating income rose 22.3% to €147.0 million. The non-IFRS operating margin grew 120 basis points to 29.2%, with approximately half of the increase reflecting operating leverage.
- IFRS earnings per diluted share increased 29% to €0.67 and non-IFRS earnings per diluted share increased 19% to €0.76 from €0.64 in the year-ago quarter, on revenue growth and non-IFRS operating income improvement, offset in part by an increase in the non-IFRS effective tax rate to 34.8% from 33.4% in the year-ago quarter. More broadly, the Company noted an increase in tax related expense items such as social and local charges in addition to income tax.
|
2012 First Half Financial Summary |
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|
(unaudited) |
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| In millions of Euros, except per share data | IFRS | Non-IFRS | ||||||||||||||||||||||
| Change | Change in cc* | Change | Change in cc* | |||||||||||||||||||||
| 2012 YTD Total Revenue | 965.3 | 15% | 10% | 965.3 | 15% | 10% | ||||||||||||||||||
| 2012 YTD Software Revenue | 877.7 | 15% | 10% | 877.7 | 15% | 10% | ||||||||||||||||||
| 2012 YTD EPS | 1.25 | 21% | 1.47 | 15% | ||||||||||||||||||||
| 2012 YTD Operating Margin | 24.1% | 29.2% | ||||||||||||||||||||||
|
*In constant currencies. |
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| In millions of Euros | IFRS | Non-IFRS | ||||||||||||||||||||||
| 2012 YTD | 2011 YTD | Change in cc* | 2012 YTD | 2011 YTD | Change in cc* | |||||||||||||||||||
| Total Revenue | 965.3 | 838.1 | 10% | 965.3 | 838.5 | 10% | ||||||||||||||||||
| Software Revenue | 877.7 | 760.6 | 10% | 877.7 | 761.0 | 10% | ||||||||||||||||||
| Services and other Revenue | 87.6 | 77.5 | 8% | 87.6 | 77.5 | 8% | ||||||||||||||||||
| PLM software Revenue | 677.8 | 595.1 | 9% | 677.8 | 595.5 | 9% | ||||||||||||||||||
| SOLIDWORKS software Revenue | 199.9 | 165.5 | 14% | 199.9 | 165.5 | 14% | ||||||||||||||||||
| Americas | 265.6 | 237.1 | 4% | 265.6 | 237.2 | 4% | ||||||||||||||||||
| Europe | 432.3 | 375.2 | 14% | 432.3 | 375.2 | 14% | ||||||||||||||||||
| Asia | 267.4 | 225.8 | 11% | 267.4 | 226.1 | 11% | ||||||||||||||||||
|
*In constant currencies. |
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- Both total revenue and software revenue increased 10% (IFRS and non-IFRS) in constant currencies reflecting broad-based strength. Services and other revenue increased 8% (IFRS and non-IFRS) in constant currencies principally reflecting growth in V6 services activities.
- IFRS operating income increased 26.4% to €232.6 million and the operating margin improved 210 basis points to 24.1%. On a non-IFRS basis, operating income increased 19.5% to €282.3 million. The non-IFRS operating margin improved 100 basis points to 29.2% for the 2012 First Half, with approximately half of the improvement from operating leverage.
- Reflecting revenue growth and operating margin expansion, IFRS net income per diluted share increased 21.4% to €1.25 and non-IFRS earnings per diluted share increased 14.8% to €1.47 per share.
- The Company saw a strong increase in new business activity during the 2012 First Half, with new licenses revenue increasing 13% in constant currencies as well as double-digit growth in rental licensing activity. From a regional perspective, new licenses revenue growth was led by Asia and well supported by Europe, both delivering double-digit new licenses revenue growth in constant currencies.
- For the 2012 First Half recurring software revenue increased 9% (IFRS and non-IFRS) in constant currencies reflecting new licenses activity and growth in rental licensing. The Company continued to experience high renewal rates on maintenance. Recurring software revenue represented a large majority of total software revenue, accounting for approximately 71% of total software revenue in the 2012 First Half compared to 72% in the 2011 First Half.
- IFRS and non-IFRS PLM software revenue was up 9%, led by ENOVIA and Other PLM, the latter delivering a non-IFRS software revenue growth of 12%. CATIA new licenses revenue increased double-digits and its total non-IFRS software revenue increased 7%. (All growth comparisons in constant currencies.)
- SOLIDWORKS software revenue increased 14% in constant currencies on double-digit constant currency growth in new licenses revenue as well as recurring software revenue. New commercial seats licensed totaled 27,252, representing an increase of 13%.
