Q3 2019 sales were nearly stable (+2.1%, -0.9% cer), compared to a strong double-digit growth in Q3 2018. The change breaks down into stable License sales (+0.5%, -2.9% cer) and higher Services (+6.6%, +4.5% cer).

Cristel de Rouvray, Chief Executive Officer of ESI Group, comments:

"We continue to strengthen our business model based on a high revenue recurrence. We generate ever more synergies on our installed base, particularly with our largest customers. These long-standing partners, like Renault-Nissan and Volkswagen, face their own transformation juggling between innovation and productivity: It’s all about their performance! In this context, they reaffirmed the strong strategic dimension of our support in recent months. Our operational transformation is in full swing and continues to be one of my top priorities. We are confident in our ability to grow over numerous years to come and return to a stronger dynamic of profitable growth.”

Important note: change in fiscal year closing

The annual general meeting on July 18, 2019 voted to approve a resolution to close the company's fiscal year on December 31 of each year. Accordingly, fiscal 2019 will run exceptionally for 11 months. To ensure the comparability of financial information, pro-forma financial statements will be published as of the announcement of 2019 revenue to facilitate projections of future performance.

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About ESI Group
ESI Group is a leading innovator in Virtual Prototyping software and services. Specialist in material physics, ESI has developed a unique proficiency in helping industrial manufacturers replace physical prototypes by virtual prototypes, allowing them to virtually manufacture, assemble, test and pre-certify their future products. Coupled with the latest technologies, Virtual Prototyping is now anchored in the wider concept of the Product Performance Lifecycle™, which addresses the operational performance of a product during its entire lifecycle, from launch to disposal. The creation of a Hybrid Twin™, leveraging simulation, physics and data analytics, enables manufacturers to deliver smarter and connected products, to predict product performance and to anticipate maintenance needs.
ESI is a French company listed in compartment B of NYSE Euronext Paris. Present in more than 40 countries, and addressing every major industrial sector, ESI Group employs about 1200 high-level specialists around the world and reported annual sales of €139 million in 2018.
For further information, go to www.esi-group.com.

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¹ Exceptionally, 11-month financial year ending on 12/31/2019, following the approval of the AGM meeting on July 18, 2019.

View source version on businesswire.com: https://www.businesswire.com/news/home/20191119005591/en/

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