“Responding to the demand of our customers, we are developing new industry-specific solutions, based on our V6 architecture. Well attuned with our clients’ critical processes, these solutions bring customers the significant values of simplification and integration at both the enterprise and end-user level. Moreover, they will benefit rapidly from all the potential of our Industry Solutions Experience, which are providing them with measurable advantages and a quick return on investment.
“Finally, as our results to date in 2012 demonstrate, we have made important investments to support our industry solutions, while also delivering a good financial performance, thanks to our 10,000 high-talented employees working closely with our large and fast-growing network of partners.”
2012 Third Quarter Financial Summary
(unaudited)
| In millions of Euros | IFRS | Non-IFRS | ||||||||||||||||||||||
| Q3 2012 | Q3 2011 | Change in cc* | Q3 2012 | Q3 2011 | Change in cc* | |||||||||||||||||||
| Total Revenue | 499.5 | 432.8 | 8% | 505.0 | 432.9 | 10% | ||||||||||||||||||
| Software Revenue | 454.7 | 394.2 | 8% | 460.2 | 394.3 | 10% | ||||||||||||||||||
| Services and other Revenue | 44.8 | 38.6 | 9% | 44.8 | 38.6 | 9% | ||||||||||||||||||
| PLM software Revenue | 354.8 | 309.8 | 8% | 360.3 | 309.9 | 10% | ||||||||||||||||||
| SOLIDWORKS software Revenue | 99.9 | 84.4 | 9% | 99.9 | 84.4 | 9% | ||||||||||||||||||
| Americas | 146.1 | 116.0 | 12% | 147.7 | 116.0 | 13% | ||||||||||||||||||
| Europe | 210.8 | 200.6 | 2% | 211.9 | 200.7 | 3% | ||||||||||||||||||
| Asia | 142.6 | 116.2 | 16% | 145.4 | 116.2 | 18% | ||||||||||||||||||
|
*In constant currencies. |
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- IFRS total revenue increased 8% and non-IFRS total revenue increased 10% in constant currencies. The 2012 third quarter includes the acquisition of Gemcom. Excluding the Gemcom acquisition (under the new brand name, GEOVIA) and the sale of Transcat PLM GmbH, Dassault Systèmes non-IFRS software revenue growth would have been about 8% in constant currencies.
- By region and in constant currencies, non-IFRS revenue growth was strongest in Asia, increasing 18%, reflecting growth across a number of countries including China and Japan, among others. In the Americas, non-IFRS revenue increased 13% with an improving performance in both North America and Latin America in the quarter. Non-IFRS software revenue growth in Europe was 3%, on a strong year-ago comparison, as well as some softness, particularly in South Europe. Higher growth countries revenue increased by 20%.
- Services and other revenue increased 9% in constant currencies.
- New licenses revenue in the third quarter increased 10% in constant currencies led by CATIA and SIMULIA and included the contribution of Gemcom.
- The business dynamic was also strong in rental licensing, with a 14% revenue increase in constant currencies, principally driven by strong growth for SIMULIA and regionally led by rental demand in Europe.
- Recurring software revenue increased 8% (IFRS) and 10% (non-IFRS) in constant currencies, reflecting growth in maintenance and rental licensing activity.
- IFRS PLM software revenue increased 8%. Non-IFRS PLM software revenue increased 10% led by Other PLM, with SIMULIA up double-digits and including the addition of Gemcom; CATIA was higher by 5% with double-digits new licenses revenue growth and ENOVIA software revenue growth by 3% (all growth comparisons in constant currencies).
- SOLIDWORKS software revenue increased 9% in constant currencies on strong growth in recurring software revenue. New SOLIDWORKS commercial seats licensed in the quarter increased 2% to 11,984.
- IFRS operating income increased 3.0% to €111.4 million and IFRS earnings per diluted share increased 6% to €0.66. Non-IFRS earnings per diluted share increased 16% on revenue and operating income growth, as well as operating margin expansion, offset in part by an increase in the effective tax rate. Specifically, non-IFRS EPS increased to €0.89 from €0.77, with operating income growth of 19% to €164.6 million and operating margin growth of 60 basis points to 32.6%.
- The Company’s non-IFRS effective tax rate increased to 32.8% from 30.5% in the year-ago quarter, notably on a higher corporate income tax rate in France.
2012 Nine-Month Financial Summary
