Dassault Systèmes: Solid First Quarter Driven by Strong Subscription, Reaffirming FY23 Objectives

VELIZY-VILLACOUBLAY, France — April 26, 2023 — Dassault Systèmes (Euronext Paris: FR0014003TT8, DSY.PA), today announced IFRS unaudited financial results for the first quarter ended March 31, 2023. The Group’s Board of Directors approved these results on April 25, 2023. This press release also includes financial information on a non-IFRS basis and reconciliations with IFRS figures in the Appendix to this communication. 

Summary Highlights  

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

  • 1Q23: Revenue increased 7% with software revenue up 6%. Recurring revenue rose 10%, driven by strong subscription growth of 14%. 
  • 1Q23: Cloud software revenue increased 17%. 3DEXPERIENCE software revenue rose 10%. 
  • 1Q23: IFRS Operating Margin of 20.8%. Non-IFRS Operating Margin of 31.0%, well-aligned with objectives, while continuing to invest to support future growth.
  • 1Q23: IFRS diluted EPS declined 3% to €0.19 as reported. Non-IFRS diluted EPS grew 1% to €0.28 as reported, at the high-end of the objective range. 
  • 1Q23: Record IFRS operating cash flow of €783 million, up 24%. Dassault Systèmes is now deleveraged.
  • FY2023: Reaffirming non-IFRS objectives of diluted EPS reaching €1.18-€1.20 and revenue growth of 8%-9%.

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