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2015 First Half Financial Summary (unaudited) |
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| In millions of Euros, except per share data | IFRS | Non-IFRS | |||||||||||||||||
| Change | Change in cc* | Change | Change in cc* | ||||||||||||||||
| YTD 2015 Total Revenue | 1 367,2 | 29% | 16% | 1 388,6 | 29% | 17% | |||||||||||||
| YTD 2015 Software Revenue | 1 206,0 | 28% | 15% | 1 226,4 | 28% | 15% | |||||||||||||
| YTD 2015 Services and other revenue | 161,2 | 42% | 29% | 162,2 | 41% | 28% | |||||||||||||
| YTD 2015 Operating Margin | 19,6% | 27,7% | |||||||||||||||||
| YTD 2015 EPS | 0,67 | 43% | 0,96 | 22% | |||||||||||||||
| In millions of Euros | IFRS | Non-IFRS | |||||||||||||||||
| YTD 2015 | YTD 2014 | Change in cc* | YTD 2015 | YTD 2014 | Change in cc* | ||||||||||||||
| Americas | 417,3 | 295,3 | 16% | 428,3 | 301,3 | 17% | |||||||||||||
| Europe | 587,8 | 490,7 | 15% | 595,0 | 496,3 | 15% | |||||||||||||
| Asia | 362,1 | 273,0 | 19% | 365,3 | 275,3 | 19% | |||||||||||||
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*In constant currencies |
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- IFRS total revenue increased 16%. Non-IFRS total revenue increased 17%, with software revenue growth of 15% and services and other revenue growth of 28%. Excluding acquisitions and in constant currencies, non-IFRS total revenue growth accelerated to 7% in the 2015 First Half from 4% in the 2014 First Half and non-IFRS software revenue growth increased to 8% from 5% in the year-ago period. (All growth rates in constant currencies.)
- Excluding acquisitions and in constant currencies, non-IFRS new licenses software revenue increased 11% in the First Half 2015.
- For the 2015 First Half, the Company benefited from strong growth in most core industries well supported by growth of a number of the diversification industries. Specifically, The Company experienced solid new business activity in multiple industries, most notably Transportation & Mobility, Aerospace & Defense, Marine & Offshore, Life Sciences, CG, Energy, Process & Utilities and Natural Resource.
- On a regional basis, for the 2015 First Half, Europe represented 43% of total non-IFRS revenues, the Americas 31% and Asia 26%. The strongest performance was recorded in Asia with 19% growth, led by Korea and India, well supported by growth in Japan and China, representing the two largest regions. Non-IFRS revenue in Europe increased 15%, led by France and Southern Europe. Non-IFRS revenue in the Americas increased 17% on software and services growth in North America. (All growth rates in constant currencies.)
- Non-IFRS software revenue increased 15%, with new licenses revenue growth of 20% led by Asia. Periodic license, maintenance and other software-related revenue increased 14% (IFRS) and 13% (non-IFRS) with a strong performance across all three regions. Recurring software revenue represented 71% of total software revenue for the 2015 First Half and was comprised of maintenance and periodic licenses (rental or subscriptions). (All growth comparisons are in constant currencies.)
- By product line, non-IFRS software revenue increased 4% for CATIA, 14% for SOLIDWORKS, with new SOLIDWORKS seats licensed up 10%; and Other Software, which included the 2014 acquisitions of Quintiq and Accelrys, increased 45%. On an organic basis, Other Software increased 14%. (All growth comparisons are in constant currencies.)
- The non-IFRS operating margin was 27.7% for the 2015 First Half, slightly lower than the 28.1% recorded in the year-ago period. For the 2015 First Half the Company delivered an organic operating margin improvement of approximately 100 basis points.
- IFRS diluted net income per share increased 43%. Non-IFRS diluted net income per share increased 22% to €0.96 per diluted share, compared to €0.79 per diluted share on a split adjusted basis. Both IFRS and non-IFRS net income reflected strong revenue growth, organic operating margin expansion and the positive influence from currencies, offset in part by higher effective tax rates.
