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Dassault Systèmes, the 3D EXPERIENCE Company, provides business and people with virtual universes to imagine sustainable innovations. Its world-leading solutions transform the way products are designed, produced, and supported.


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Financing Information

Maintaining Strong Growth in Cash Flow from Operating Activities

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Dassault Systèmes Capital Allocation

Our key uses of cash are focused on:

  • Capital returns to shareholders in the form of dividends;
  • Share repurchases to minimize share dilution from stock-based employee performance programs;
  • Select acquisitions undertaken consistent with our Mission, Strategy and Addressable Market expansion objectives;
  • Repayment of Financial Debt.

For the year ended December 31, 2018 uses of cash were principally for payment for acquisitions, net of cash acquired and non-controlling interests totaling €353.1 million; share repurchases of €206.3 million, cash dividends of €38.0 million (based on the shareholders electing payment of the dividend in cash); and capital expenditures, net of €72.4 million.

For the 2019 First Half ended June 30, 2019, uses of cash were principally for payment for acquisitions completed, net of cash acquired, of €402.8 million; to distribute cash dividends of €168.8 million (all dividends were paid in cash); capital expenditures, net of €48.2 million; and repayment for lease liabilities of €37.3 million. 

 

Maintaining Significant Financial Flexibility with a High Level of Liquidity

At June 30, 2019, cash, cash equivalents and short-term investments totaled €3.09 billion.

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On June 12, 2019 we signed a definitive merger agreement to acquire Medidata Solutions, Inc., in an all cash transaction for an enterprise value of $5.8 billion. On an equivalent basis, the cash purchase price will be paid with Bonds in the amount of €3.65 billion, a term loan in the amount of €1.0 billion and cash on hand in the amount of €1.1 billion. The transaction is expected to close in the third or fourth quarter, subject to receipt of CFIUS approval and other customary closing conditions.

 

Corporate Rating

S&P Global Ratings has assigned to Dassault Systèmes a rating of ‘A-‘, with a stable outlook and “Strong” business risk profile.

 

Bond Issue Program

The net proceeds of the issue of its inaugural senior unsecured Eurobonds, amounting to approximately €3.65 billion, will be used by Dassault Systèmes for general corporate purposes, including the financing in part of the acquisition of Medidata Solutions, Inc. and the refinancing at excellent conditions of a 650 million euro bank loan that was to mature in 2022.

 

Bond

Date of issue

Maturity Date

Volume (in €m)

Coupon (Payable Annually)

2022

Sept. 16, 2019

Sept. 16, 2022

900

0%

2024

Sept. 16, 2019

Sept. 16, 2024

700

0%

2026

Sept. 16, 2019

Sept. 16, 2026

900

0.125%

2029

Sept. 16, 2019

Sept. 16, 2029

1,150

0.375%

 

Borrowings

As of June 30, 2019

 

Payments due by period

in million euros

Total

Less than 1 year

1-3 years

3-5 years

Term loan facilities in euro currency

€1,000.0

€350.0

-

€650.0

Investor Resources

Investor Contacts

François-José Bordonado
Michele Katz
Béatrix Martinez
Delphine Da Maia-Levy / Dymphna Hawksley

Phone: +33 1 61 62 69 24/7021
Fax:      +33 1 70 73 43 59
Email: investors@3ds.com