Navigate to...
  • Industries
  • Insights
  • Products & Services
  • About Dassault Systèmes
  • Support
  • Training
  • Education
  • Partners
 

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.


Data Provided by Refinitiv. Minimum 15 minutes delayed.

Access to the information and documents on this part of this website is restricted.

Due to applicable legal and regulatory restrictions in various jurisdictions, electronic versions of the information and materials are not directed to or accessible by persons not qualified or authorized to receive it.

The information and materials contained on this part of this website do not, and shall not, in any circumstances constitute a public offering nor a solicitation to the public in connection with any offering of any securities.

This information and materials shall not be distributed in the United States, Canada, Japan or Australia and do not constitute an offer of securities for sale in the United States, Canada, Japan or Australia.

THE INFORMATION AND MATERIALS CONTAINED ON THIS PART OF THIS WEBSITE ARE EXCLUSIVELY INTENDED FOR PERSONS WHO ARE NOT U.S. PERSONS, AS SUCH TERM IS DEFINED IN REGULATION S OF THE U.S. SECURITIES ACT OF 1933, AS AMENDED AND WHO ARE NOT PHYSICALLY PRESENT IN THE UNITED STATES. THIS INFORMATION AND THESE MATERIALS DO NOT CONSTITUTE AN OFFER, OR AN INVITATION TO PURCHASE, ANY SECURITIES IN THE UNITED STATES OR IN ANY OTHER JURISDICTION IN WHICH SUCH OFFER OR INVITATION IS NOT AUTHORISED OR TO ANY PERSON TO WHOM IT IS UNLAWFUL TO MAKE SUCH OFFER OR SOLICITATION. POTENTIAL USERS OF THIS INFORMATION AND THESE MATERIALS ARE REQUESTED TO INFORM THEMSELVES ABOUT AND TO OBSERVE ANY SUCH RESTRICTIONS.

By clicking on the "Accept" button, you confirm that you meet the following conditions: YOU ARE NOT A U.S. PERSON AS DEFINED IN REGULATION S OF THE U.S. SECURITIES ACT OF 1933, AS AMENDED OR ACTING FOR THE ACCOUNT OF SUCH U.S. PERSON, YOU ARE NOT LOCATED IN THE UNITED STATES AND YOU AGREE THAT YOU WILL NOT TRANSMIT OR OTHERWISE SEND ANY INFORMATION OR MATERIALS CONTAINED IN THIS PART OF THIS WEBSITE TO ANY PERSON IN THE UNITED STATES OR TO PUBLICATIONS WITH A GENERAL CIRCULATION IN THE UNITED STATES.

If you do not click on the "Accept" button, we regret that we cannot provide you with access to the information of this part of this website.

Financing Information

Maintaining Strong Growth in Cash Flow from Operating Activities

img

 

Dassault Systèmes Capital Allocation

We focus our uses of cash on:

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

For the year ended December 31, 2019, cash obtained from operations was used principally for payment for acquisitions, net of cash acquired of €5.2 billion; repayment of short- and long-term debt of €1.1 billion (including Medidata repayment debt for €0.1 billion); distribution of cash dividends of €169 million; capital expenditures, net of €98 million; and payment for lease obligations of €76 million.  We also received cash from exercise of stock options of €90 million.

We completed the acquisition of Medidata Solutions, Inc. on October 28, 2019.  The cash purchase price was paid with Bonds in the amount of €3.0 billion, a term loan, drawn in Euro and US dollar, in an aggregate amount of €1.0 billion, and with cash on hand, in Euro and US dollar, in an aggregate amount of €1.1 billion.

Net operating cash flow increased 32% to €1.2 billion for 2019 compared to €899 million in the fiscal year 2018.

 

Maintaining Significant Financial Flexibility with a High Level of Liquidity

img

Our net financial cash/(debt) positioned totaled €(2.7) billion at December  31, 2019, compared to €1.8  billion at December 31, 2018, reflecting cash, cash equivalents and short-term investments of €1.9  billion and debt via borrowings of €4.6 billion.

At December 31, 2019, our Adjusted Net Debt/IFRS EBITDAO ratio stood at 2.5x, based on an adjusted net debt (including the lease liabilities reported under IFRS 16) of €3,351  million and an IFRS EBITDAO (IFRS EBITDA adjusted for share-based payments) of €1,325 million.

 

Corporate Rating

Agency

Date

Long term

Outlook

Short term

Business risk profile

Latest Report & PR

S&P

August 27th, 2019
(inaugural)

A-

Stable

--

Strong

S&P paper pdf
S&P report_pdf
PR_pdf

 

 

Bond Issue Program

We have used the net proceeds of the issue of our inaugural senior unsecured Eurobonds, amounting to approximately €3.65 billion, for general corporate purposes, including the financing in part of the acquisition of Medidata Solutions, Inc. and the refinancing of a €650 million 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 December 31, 2019

 

Payments due by period

in million euros

Total

Less than 1 year

1-5 years

5-10 years

Bonds

3,628.8

-

1,590.7

2,038.1

Term loan facilities in euro currency

968.0

-

968.0

-

Accrued interests

4.4

4.4

-

-

TOTAL

4,601.2

4.4

2,558.7

2,038.1

In connection with the acquisition of Medidata Solutions, Inc., we subscribed in October 2019 a term loan for €500.0 million bearing interest at Euribor 3 months +0.50% per annum and a term loan for $530.0 million bearing interest at Libor USD 3 months +0.60% per annum. Both loans have a 5-year term.

The Group’s financing facilities do not contain covenants linked to changes in the Group’s rating. A lower credit rating would result in an increase (capped) in the margins applicable to the credit facilities; symmetrically, a higher rating would lead to a decrease in the applicable margin (with a floor).

We repaid our previous term loans of €350 million at maturity on July 25, 2019 and our previous term loan of €650 million on September 23, 2019 following the bond issuance.

 

Line of credit

We have secured a financing commitment in the form of a revolving line of credit of €750 million for a period of 5 years from October 28, 2019. As of December 31, 2019, the line of credit was not drawn down.

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