VÉLIZY-VILLACOUBLAY, France — (BUSINESS WIRE) — February 5, 2019 — Dassault Systèmes (Paris: DSY) (Euronext Paris: #13065, DSY.PA), announces IFRS unaudited financial results for the fourth quarter and year ended December 31, 2018. These results were reviewed by the Company’s Board of Directors on February 5, 2019. The Company adopted IFRS 15 as of January 1, 2018. This press release includes 2018 fourth quarter and twelve-month financial results under IFRS 15 as well as under the prior IAS 18 standard and includes a summary explanation of the major differences for the Company. In addition, this press release also includes financial information on a non-IFRS basis (both IFRS 15 and IAS 18) with reconciliations included in the Appendix to this communication.
Fourth Quarter and Full Year 2018 Highlights and Financial Summary
(Unaudited,
with references to IAS 18 data, all revenue growth at constant currency
(exfx))
- On an organic basis, Q4 total revenue up 10%, software revenue up 8%, license and other software revenue up 11% and services revenue up 26% (IAS 18 exfx)
- Non-IFRS IAS 18 EPS up 24% to €1.10 in Q4 & 16% to €3.11 in FY, above DS objectives
- Cash flow from operations up 21% to €899 million in 2018
- 3DEXPERIENCE software revenue up 24% in FY (IAS 18 exfx)
- Asia and Europe lead Q4 and FY, with notable strength in Japan, China and Western Europe
- Airbus selects the 3DEXPERIENCE platform for its Global Enterprise Digital Transformation Program
- Initiating 2019 non-IFRS Financial Objectives under IFRS 15: non-IFRS total revenue growth of 10-11% at constant currency; non-IFRS EPS growth of 7-9% to €3.35 to €3.40 (up 9-11% at constant currency)
|
In millions of Euros,
except per share data |
IFRS under
|
IFRS under IAS18 |
IFRS under
|
IFRS under IAS18 | ||||||||||||
| Q4 2018 | Q4 2018 | Change | Change in cc* | YTD 2018 | YTD 2018 | Change | Change in cc* | |||||||||
| Total Revenue | 1,026.6 | 1,040.8 | 14% | 13% | 3,477.4 | 3,474.3 | 8% | 10% | ||||||||
| Software Revenue | 895.4 | 909.7 | 12% | 11% | 3,081.8 | 3,078.7 | 7% | 10% | ||||||||
| Operating Margin | 26.2% | 27.2% | -3.6pts | 22.1% | 22.0% | -0.6pts | ||||||||||
| EPS | 0.73 | 0.78 | -1% | 2.18 | 2.18 | 8% | ||||||||||
|
In millions of Euros,
except per share data |
Non-IFRS under
|
Non-IFRS under IAS18 |
Non-IFRS under
|
Non-IFRS under IAS18 | ||||||||||||
| Q4 2018 | Q4 2018 | Change | Change in cc* | YTD 2018 | YTD 2018 | Change | Change in cc* | |||||||||
| Total Revenue | 1,030.6 | 1,044.9 | 14% | 13% | 3,491.1 | 3,488.0 | 8% | 10% | ||||||||
| Software Revenue | 898.3 | 912.6 | 12% | 11% | 3,093.9 | 3,090.8 | 7% | 10% | ||||||||
| Operating Margin | 36.5% | 37.4% | -1.2pts | 31.9% | 31.8% | -0.2pts | ||||||||||
| EPS | 1.06 | 1.10 | 24% | 24% | 3.12 | 3.11 | 16% | 20% | ||||||||
|
* In constant currencies. |
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