Dassault Systèmes Reports Strong Revenue and Earnings Growth

Dassault Systèmes Reports Strong Revenue and Earnings Growth and Upgrades 2015 Financial Objectives

(1) In the reconciliation schedule above, (i) all adjustments to IFRS revenue data reflect the exclusion of the deferred revenue adjustment of acquired companies; (ii) adjustments to IFRS operating expense data reflect the exclusion of the amortization of acquired intangibles, share-based compensation expense and related social charges, and other operating income and expense, (iii) adjustments to IFRS financial revenue and other, net reflect the exclusion of certain one-time items included in financial revenue and other, net, and (iv) all adjustments to IFRS income data reflect the combined effect of these adjustments, plus with respect to net income and diluted net income per share, the income tax effect of the non-IFRS adjustments and certain one-time tax effects.


	Three months ended June 30,
In millions of Euros	2015 IFRS	Adjustment	2015	2014 IFRS	Adjustment	2014
			non-IFRS			non-IFRS
Cost of revenue	(109,5)	0,2	(109,3)	(76,0)	0,2	(75,8)
Research and development	(128,4)	2,2	(126,2)	(107,6)	3,4	(104,2)
Marketing and sales	(228,2)	2,2	(226,0)	(187,1)	2,8	(184,3)
General and administrative	(50,4)	0,8	(49,6)	(45,6)	2,0	(43,6)
Total share-based compensation expense		5,4			8,4

(2) The non-IFRS percentage increase (decrease) compares non-IFRS measures for the two different periods. In the event there is non-IFRS adjustment to the relevant measure for only one of the periods under comparison, the non-IFRS increase (decrease) compares the non-IFRS measure to the relevant IFRS measure.

(3) Based on a weighted average 256.1 million diluted shares for Q2 2015 and 254.9 million diluted shares for Q2 2014 adjusted to reflect the two-for-one stock split effected on July 17, 2014.

DASSAULT SYSTEMES
SUPPLEMENTAL NON-IFRS FINANCIAL INFORMATION
IFRS – NON-IFRS RECONCILIATION
(unaudited; in millions of Euros, except per share data)

Readers are cautioned that the supplemental non-IFRS information presented in this press release is subject to inherent limitations. It is not based on any comprehensive set of accounting rules or principles and should not be considered as a substitute for IFRS measurements. Also, the Company’s supplemental non-IFRS financial information may not be comparable to similarly titled non-IFRS measures used by other companies. Further specific limitations for individual non-IFRS measures, and the reasons for presenting non-IFRS financial information, are set forth in the Company’s Document de référence for the year ended December 31, 2014 filed with the AMF on March 24, 2015. To compensate for these limitations, the supplemental non-IFRS financial information should be read not in isolation, but only in conjunction with the Company’s consolidated financial statements prepared in accordance with IFRS.


In millions of Euros, except per share data and percentages	Six months ended June 30,						Change
In millions of Euros, except per share data and percentages	2015	Adjustment	2015	2014	Adjustment	2014	IFRS	Non-IFRS
	IFRS	(1)	non-IFRS	IFRS	(1)	non-IFRS		(2)
Total Revenue	€ 1 367,2	21,4	€ 1 388,6	€ 1 059,0	13,9	€ 1 072,9	29%	29%
Total Revenue breakdown by activity
Software revenue	1 206,0	20,4	1 226,4	945,2	12,9	958,1	28%	28%
New Licenses	333,9	12,5	346,4	257,7	0,4	258,1	30%	34%
Other software-related revenue	13,3			4,1			224%
Periodic Licenses and Maintenance	858,8	7,9	866,7	683,4	12,5	695,9	26%	25%
Recurring portion of Software revenue	71%		71%	72%		73%
Services and other revenue	161,2	1,0	162,2	113,8	1,0	114,8	42%	41%
Total Software Revenue breakdown by product line
CATIA software revenue	454,6			404,3			12%
ENOVIA software revenue	136,8			125,0			9%
SOLIDWORKS software revenue	282,9			211,3			34%
Other software revenue	331,7	20,4	352,1	204,6	12,9	217,5	62%	62%
Total Revenue breakdown by geography
Americas	417,3	11,0	428,3	295,3	6,0	301,3	41%	42%
Europe	587,8	7,2	595,0	490,7	5,6	496,3	20%	20%
Asia	362,1	3,2	365,3	273,0	2,3	275,3	33%	33%
Total Operating Expenses	(€ 1 099,0)	94,5	(€ 1 004,5)	(€ 879,1)	107,9	(€ 771,2)	25%	30%
Share-based compensation expense	(10,7)	10,7	-	(28,8)	28,8	-	-	-
Amortization of acquired intangibles	(77,6)	77,6	-	(57,5)	57,5	-	-	-
Other operating income and expense, net	(6,2)	6,2	-	(21,6)	21,6	-	-	-
Operating Income	€ 268,2	115,9	€ 384,1	€ 179,9	121,8	€ 301,7	49%	27%
Operating Margin	19,6%		27,7%	17,0%		28,1%
Financial revenue & other, net	3,8	0,0	3,8	7,4	0,0	7,4	(49%)	(49%)
Income tax expense	(99,3)	(39,2)	(138,5)	(66,8)	(40,7)	(107,5)	49%	29%
Non-controlling interest	(2,5)	0,0	(2,5)	(0,1)	(0,3)	(0,4)	2400%	525%
Net Income attributable to shareholders	€ 170,2	76,7	€ 246,9	€ 120,4	80,8	€ 201,2	41%	23%
Diluted Net Income Per Share (3)	€ 0,67	0,29	€ 0,96	€ 0,47	0,32	€ 0,79	43%	22%

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