- On an IAS 18 basis with year over year comparisons at constant currency: Total revenue increased 9% (IFRS) and 10% (non-IFRS). Acquisitions contributed 5 percentages points to the non-IFRS revenue growth rate in the third quarter.
- On an IAS 18 basis and in constant currencies: Software revenue increased 9% (IFRS and non-IFRS). Licenses and other software revenue grew 7% (IFRS and non-IFRS), led by double-digit growth for CATIA, DELMIA, QUINTIQ and BIOVIA. Non-IFRS recurring revenue, comprised of subscription and support revenue, increased 10% and represented 74% of non-IFRS software revenue in the third quarter. On an organic basis, non-IFRS software revenue increased 5% in the third quarter with licenses and other software growth of 4% and recurring software growth of 6%.
- On a regional and IAS 18 basis: Asia non-IFRS software revenue increased 13% led by China and India. Europe non-IFRS software revenue increased 8% led by North Europe and Central Europe as well as Russia. Americas non-IFRS software revenue increased 8%, principally driven by acquisitions and improving results in Latin America. High Growth Countries non-IFRS software revenue increased 15%. (All growth rates are in constant currencies.)
- In the third quarter, 3DEXPERIENCE software revenue was up 14% at constant currency on an IAS 18 basis, with some of the larger transactions of the quarter in Marine & Offshore, Aerospace & Defense, Consumer Packaged Goods-Retail and Transportation & Mobility.
- Services revenue increased 13% in constant currencies (IAS 18 IFRS and non-IFRS) on a year over year basis led by growth in 3DEXPERIENCE services activity as well as the contribution from acquisitions.
- IAS 18 IFRS operating income increased 9.0%. IAS 18 non-IFRS operating income increased 6.6% to €256.6 million. The non-IFRS operating margin was 30.9%, in line with the Company’s objective, compared to 32.0% in the year-ago period, reflecting acquisition dilution of 110 basis points.
- Principally reflecting the U.S. Tax Reform Act of 2017, the Company’s IAS 18 IFRS and non-IFRS effective tax rates decreased to 29.0% and 29.1%, respectively, in the 2018 third quarter compared to 32.9% and 31.4%, respectively, in the 2017 third quarter.
- IAS 18 IFRS diluted net income per share increased 20% as reported. IAS 18 non-IFRS diluted net income per share totaled €0.71, increasing 11% both as reported and at constant currency.
Nine Months Financial Summary
(Unaudited)
|
In millions of Euros,
|
IFRS under
|
IFRS under IAS18 |
Non-IFRS under
|
Non-IFRS under IAS18 | ||||||||||||
| YTD 2018 | Change | Change in cc* | YTD 2018 | Change | Change in cc* | |||||||||||
| YTD 2018 Total Revenue | 2,450.9 | 2,433.5 | 5% | 9% | 2,460.5 | 2,443.1 | 5% | 9% | ||||||||
| YTD 2018 Software Revenue | 2,186.4 | 2,169.1 | 5% | 10% | 2,195.6 | 2,178.2 | 5% | 9% | ||||||||
| YTD 2018 Services Revenue | 264.4 | 264.4 | 2% | 6% | 264.9 | 264.9 | 2% | 6% | ||||||||
| YTD 2018 Operating Margin | 20.4% | 19.8% | +0.4pts | 29.9% | 29.4% | -0.0pts | ||||||||||
| YTD 2018 EPS | 1.45 | 1.41 | 16% | 2.06 | 2.01 | 12% | 19% | |||||||||
|
Total Software Revenue in
|
IFRS under
|
IFRS under IAS18 |
Non-IFRS under
|
Non-IFRS under IAS18 | ||||||||||||
| YTD 2018 | YTD 2017 | Change in cc* | YTD 2018 | YTD 2017 | Change in cc* | |||||||||||
| Americas | 620.7 | 633.3 | 626.1 | 9% | 626.2 | 638.8 | 629.7 | 9% | ||||||||
| Europe | 926.7 | 906.8 | 855.9 | 7% | 928.5 | 908.6 | 863.2 | 7% | ||||||||
| Asia | 639.0 | 628.9 | 575.8 | 14% | 640.8 | 630.7 | 576.5 | 14% | ||||||||
|
*In constant currencies |
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Nine Months 2018 versus 2017 Financial Comparisons on an IAS 18 Basis
