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.  Since 1981, the company has pioneered virtual worlds to improve real life for consumers, patients and citizens.  With Dassault Systèmes’ 3DEXPERIENCE platform, 350,000 customers of all sizes, in all industries, can collaborate, imagine and create sustainable innovations that drive meaningful impact.  For more information, visit: https://www.3ds.com