Highlights
Dassault Systèmes Doubles EPS as Planned in 2018 While Embracing the Subscription Model
(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 margin 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 EPS 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%.