Dassault Systèmes Doubles EPS as Planned in 2018 While Embracing The Subscription Model

VELIZY-VILLACOUBLAY, France — February 1, 2024 — Dassault Systèmes (Euronext Paris: FR0014003TT8, DSY.PA), today announced IFRS unaudited estimated financial results for the fourth quarter and fiscal year ended December 31, 2023. The Group’s Board of Directors approved these estimated results on January 31, 2024. This press release includes financial information on a non-IFRS basis and reconciliations with IFRS figures in the Appendix.   

Summary Highlights    
(unaudited, IFRS and non-IFRS unless otherwise noted, all revenue growth rates in constant currencies)

  • 4Q23 & FY23 total revenue increased 8% and 9% respectively with software revenue up 8%, all in line with objectives; 
  • 4Q23 & FY23 recurring revenue rose 12% and 10% respectively, driven by strong subscription growth of 22% and 16%. Licenses & other revenue were down 4% in the fourth quarter, up 2% in the full year;
  • 4Q23 & FY23 3DEXPERIENCE revenue grew 21% and 19% respectively, supported by large transformation deals;
  • 4Q23 & FY23 non-IFRS operating margin1 of 35.9% and 32.4% respectively, reflecting acceleration of 160 basis points for the quarter in constant currencies, as anticipated and in line with objectives; 
  • FY23 non-IFRS diluted EPS2 of €1.20, up 12% in constant currencies, achieving plan to double diluted EPS in 5 years;
  • FY23 achieving net cash balance of €0.6 billion after successfully deleveraging for MEDIDATA acquisition; cash flow from operations of €1.6 billion (IFRS);
  • FY24 non-IFRS objectives: Diluted EPS reaching €1.29 - €1.31 with revenue growth of 8% - 10%.
14Q23 & FY23 IFRS operating margin at 23.2% and 20.9% respectively
2FY23 IFRS diluted EPS up 12% as reported at €0.79

About Dassault Systèmes

Dassault Systèmes is a catalyst for human progress. We provide business and people with collaborative virtual environments to imagine sustainable innovations. By creating virtual twin experiences of the real world with our 3DEXPERIENCE platform and applications, our customers can redefine the creation, production and life-cycle-management processes of their offer and thus have a meaningful impact to make the world more sustainable. The beauty of the Experience Economy is that it is a human-centered economy for the benefit of all – consumers, patients and citizens. Dassault Systèmes brings value to more than 350,000 customers of all sizes, in all industries, in more than 150 countries. For more information, visit https://www.3ds.com