In millions of Euros, except per share data and percentagesThree months ended June 30,Change2024Adjustment(1)20242023Adjustment(1)2023IFRSNon-IFRS(2)IFRSNon-IFRSIFRSNon-IFRSTotal Revenue€ 1,495.8 -€ 1,495.8 € 1,449.1 -€ 1,449.1 3%3%Revenue breakdown by activity Software revenue1,346.5-1,346.51,309.0-1,309.03%3%Licenses and other software revenue271.8-271.8278.9-278.9(3)%(3)%Subscription and Support revenue1,074.8-1,074.81,030.2-1,030.24%4% Recurring portion of Software revenue80% 80%79% 79% Services revenue149.2-149.2140.1-140.17%7%Software Revenue breakdown by product line Industrial Innovation701.9-701.9686.7-686.72%2%Life Sciences281.7-281.7287.2-287.2(2)%(2)%Mainstream Innovation363.0-363.0335.1-335.18%8%Software Revenue breakdown by geography Americas525.5-525.5527.2-527.2(0)%(0)%Europe491.9-491.9466.3-466.35%5%Asia329.1-329.1315.5-315.54%4%Total Operating Expenses€ (1,219.8)€ 171.9 € (1,047.9)€ (1,189.8)€ 189.7 € (1,000.2)3%5%Share-based compensation expense and related social charges(65.8)65.8-(86.5)86.5- Amortization of acquired intangible assets and of tangible assets revaluation(92.3)92.3-(94.6)94.6- Lease incentives of acquired companies(0.5)0.5-(0.7)0.7- Other operating income and expense, net(13.2)13.2-(7.9)7.9- Operating Income€ 276.0 € 171.9 € 447.8 € 259.3 € 189.7 € 448.9 6%(0)%Operating Margin 18.4% 29.9%17.9% 31.0% Financial income (loss), net33.30.533.817.20.617.893%89%Income tax expense(47.7)(36.4)(84.1)(55.0)(40.3)(95.3)(13)%(12)%Non-controlling interest1.2(1.6)(0.4)0.5(0.4)0.1154%N/ANet Income attributable to shareholders€ 262.7 € 134.4€ 397.1 € 222.0 € 149.6€ 371.6 18%7%Diluted Earnings Per Share (3)€ 0.21 € 0.09€ 0.30 € 0.17 € 0.11€ 0.28 25%7% (1) In the reconciliation schedule above, (i) all adjustments to IFRS revenue data reflect the exclusion of the effect of adjusting the carrying value of acquired companies’ contract liabilities (deferred revenue); (ii) adjustments to IFRS operating expense data reflect the exclusion of the amortization of acquired intangible assets and of tangible assets revaluation, share-based compensation expense, including related social charges, lease incentives of acquired companies, as detailed below, and other operating income and expense, net including acquisition, integration and restructuring expenses, and impairment of goodwill and acquired intangible assets; (iii) adjustments to IFRS financial loss, net reflect the exclusion of certain one-time items included in financial loss, net, and; (iv) all adjustments to IFRS income data reflect the combined effect of these adjustments, plus with respect to net income and diluted earnings per share, certain one-time tax effects and the income tax effect of the non-IFRS adjustments.
In millions of Euros, except per share data, percentages, headcount and exchange ratesNon-IFRS reportedThree months endedSix months endedJune 30,2024June 30,2023ChangeChange in constant currenciesJune 30,2024June 30,2023ChangeChange in constant currenciesTotal Revenue€ 1,495.8 € 1,449.1 3%4%€ 2,995.4 € 2,883.34%5% Revenue breakdown by activity Software revenue1,346.51,309.03%3%2,699.42,597.24%5%Of which licenses and other software revenue271.8278.9(3)%(1)%490.3489.80%2%Of which subscription and support revenue1,074.81,030.24%4%2,209.12,107.45%6%Services revenue149.2140.17%6%296.1286.13%4% Software revenue breakdown by product line Industrial Innovation701.9686.72%3%1,433.21,371.84%6%Life Sciences281.7287.2(2)%(3)%566.4580.1(2)%(2)%Mainstream Innovation363.0335.18%8%699.7645.28%9% Software Revenue breakdown by geography Americas525.5527.2(0)%(1)%1,079.11,061.62%2%Europe491.9466.35%5%995.1935.86%6%Asia329.1315.54%9%625.2599.84%9% Operating income€ 447.8 € 448.9 (0)% € 914.3 € 893.7 2% Operating margin29.9%31.0% 30.5%31.0% Net income attributable to shareholders€ 397.1 € 371.6 7% € 794.3 € 739.4 7% Diluted earnings per share € 0.30 € 0.28 7%8%€ 0.60 € 0.56 7%10% Closing headcount25,811 24,963 3% 25,811 24,963 3% Average Rate USD per Euro1.081.09(1)% 1.081.080% Average Rate JPY per Euro167.77149.7212% 164.46145.7613% DASSAULT SYSTÈMES ACQUISITIONS AND FOREIGN EXCHANGE IMPACT (unaudited; in millions of Euros) In millions of EurosNon-IFRS reportedo/w growth at constant rate and scopeo/w change of scope impact at current year rateo/w FX impact on previous year figuresJune 30,2024June 30,2023ChangeRevenue QTD1,495.81,449.146.750.50.3(4.1)Revenue YTD2,995.42,883.3112.1140.40.3(28.6) DASSAULT SYSTÈMES CONDENSED CONSOLIDATED STATEMENTS OF INCOME (unaudited; in millions of Euros, except per share data and percentages) In millions of Euros, except per share data and percentagesIFRS reportedThree months endedSix months endedJune 30,June 30,June 30,June 30,2024202320242023Licenses and other software revenue271.8278.9490.3489.8Subscription and Support revenue1,074.81,030.22,209.12,107.4Software revenue1,346.51,309.02,699.42,597.2Services revenue149.2140.1296.1286.1Total Revenue€ 1,495.8 € 1,449.1 € 2,995.4€ 2,883.3Cost of software revenue (1)(124.8)(108.4)(236.8)(223.8)Cost of services revenue(127.9)(130.7)(259.8)(253.0)Research and development expenses(326.1)(320.5)(637.5)(611.5)Marketing and sales expenses(423.8)(412.2)(844.1)(814.2)General and administrative expenses(111.6)(115.6)(216.7)(222.6)Amortization of acquired intangible assets and of tangible assets revaluation(92.3)(94.6)(185.6)(190.7)Other operating income and expense, net(13.2)(7.9)(15.0)(9.6)Total Operating Expenses(1,219.8)(1,189.8)(2,395.4)(2,325.5)Operating Income € 276.0 € 259.3 € 600.0 € 557.8 Financial income (loss), net33.317.263.435.4Income before income taxes€ 309.2 € 276.5 € 663.5 € 593.3 Income tax expense(47.7)(55.0)(116.0)(116.7)Net Income € 261.5 € 221.5 € 547.5 € 476.6 Non-controlling interest1.20.51.00.9Net Income attributable to equity holders of the parent€ 262.7 € 222.0 € 548.4 € 477.5 Basic earnings per share0.200.170.420.36Diluted earnings per share € 0.21 € 0.17 € 0.42 € 0.36 Basic weighted average shares outstanding (in millions)1,313.21,316.61,313.71,315.7Diluted weighted average shares outstanding (in millions)1,326.21,329.01,328.71,327.9 (1) Excluding amortization of acquired intangible assets and of tangible assets revaluation.
In millions of Euros, except per share data and percentagesSix months ended June 30,Change2024Adjustment(1)20242023Adjustment(1)2023IFRSNon-IFRS(2)IFRSNon-IFRSIFRSNon-IFRSTotal Revenue€ 2,995.4- € 2,995.4€ 2,883.3- € 2,883.34%4%Revenue breakdown by activity Software revenue2,699.4- 2,699.42,597.2- 2,597.24%4%Licenses and other software revenue490.3-490.3489.8-489.80%0%Subscription and Support revenue2,209.1-2,209.12,107.4 -2,107.45%5% Recurring portion of Software revenue82% 82%81% 81% Services revenue296.1-296.1286.1 -286.13%3%Software Revenue breakdown by product line Industrial Innovation1,433.2-1,433.21,371.8-1,371.84%4%Life Sciences566.4-566.4580.1-580.1(2)%(2)%Mainstream Innovation699.7-699.7645.2-645.28%8%Software Revenue breakdown by geography Americas1,079.1-1,079.11,061.6 -1,061.62%2%Europe995.1-995.1935.8 -935.86%6%Asia625.2-625.2599.8-599.84%4%Total Operating Expenses€ (2,395.4)€ 314.3 € (2,081.1)€ (2,325.5)€ 335.9 € (1,989.6)3%5%Share-based compensation expense and related social charges(112.6)112.6-(134.3)134.3- Amortization of acquired intangible assets and of tangible assets revaluation(185.6)185.6-(190.7)190.7- Lease incentives of acquired companies(1.2)1.2-(1.4)1.4- Other operating income and expense, net(15.0)15.0-(9.6)9.6- Operating Income€ 600.0 € 314.3 € 914.3 € 557.8 € 335.9 € 893.7 8%2%Operating Margin 20.0% 30.5%19.3% 31.0% Financial income (loss), net63.41.564.935.41.536.979%76%Income tax expense(116.0)(68.0)(184.0)(116.7)(74.7)(191.3)(1)%(4)%Non-controlling interest1.0(1.9)(0.9)0.9(0.8)0.112%N/ANet Income attributable to shareholders€ 548.4 € 245.9 € 794.3 € 477.5 € 261.9 € 739.4 15%7%Diluted Earnings Per Share (3)€ 0.42 € 0.17 € 0.60 € 0.36 € 0.20 € 0.56 18%7% (1) In the reconciliation schedule above, (i) all adjustments to IFRS revenue data reflect the exclusion of the effect of adjusting the carrying value of acquired companies’ contract liabilities (deferred revenue); (ii) adjustments to IFRS operating expense data reflect the exclusion of the amortization of acquired intangible assets and of tangible assets revaluation, share-based compensation expense, including related social charges, lease incentives of acquired companies, as detailed below, and other operating income and expense, net including acquisition, integration and restructuring expenses, and impairment of goodwill and acquired intangible assets; (iii) adjustments to IFRS financial loss, net reflect the exclusion of certain one-time items included in financial loss, net, and; (iv) all adjustments to IFRS income data reflect the combined effect of these adjustments, plus with respect to net income and diluted earnings per share, certain one-time tax effects and the income tax effect of the non-IFRS adjustments.
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