In millions of Euros, except per share data and percentagesThree months ended December 31,Change2024Adjustment(1)20242023Adjustment(1)2023IFRSNon-IFRS(2)IFRSNon-IFRSIFRSNon-IFRSTotal Revenue€ 1,754.2 -€ 1,754.2 € 1,643.4 -€ 1,643.4 7%7%Revenue breakdown by activity Software revenue1,601.5-1,601.51,476.1-1,476.18%8%Licenses and other software revenue405.4-405.4351.9-351.915%15%Subscription and Support revenue1,196.1-1,196.11,124.3-1,124.36%6% Recurring portion of Software revenue75% 75%76% 76% Services revenue152.8-152.8167.3-167.3(9)%(9)%Software Revenue breakdown by product line Industrial Innovation901.8-901.8837.3-837.38%8%Life Sciences297.7-297.7295.1-295.11%1%Mainstream Innovation402.0-402.0343.7-343.717%17%Software Revenue breakdown by geography Americas595.0-595.0566.7-566.75%5%Europe685.0-685.0601.1-601.114%14%Asia321.4-321.4308.4-308.44%4%Total Operating Expenses€ (1,270.9)€ 153.4 € (1,117.5)€ (1,261.8)€ 208.2 € (1,053.6)1%6%Share-based compensation expense and related social charges(69.7)69.7-(73.2)73.2- Amortization of acquired intangible assets and of tangible assets revaluation(87.5)87.5-(94.9)94.9- Lease incentives of acquired companies(0.4)0.4-(0.7)0.7- Other operating income and expense, net4.2(4.2)-(39.5)39.5- Operating Income€ 483.4 € 153.4 € 636.8 € 381.6 € 208.2 € 589.8 27%8%Operating Margin 27.6% 36.3%23.2% 35.9% Financial income (loss), net22.91.124.027.81.028.8(18)%(17)%Income tax expense(95.4)(33.2)(128.6)(79.1)(51.3)(130.4)21%(1)%Non-controlling interest1.1(2.6)(1.5)(0.3)(0.7)(1.0)N/A53%Net Income attributable to shareholders€ 412.0 € 118.7€ 530.7 € 330.0 € 157.2€ 487.2 25%9%Diluted Earnings Per Share (3)€ 0.30 € 0.10 € 0.40 € 0.25 € 0.12 € 0.36 20%9% (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 endedTwelve months endedDecember 31,2024December 31,2023ChangeChange in constant currenciesDecember 31,2024December 31,2023ChangeChange in constant currenciesTotal Revenue€ 1,754.2 € 1,643.4 7%7%€ 6,213.6 € 5,951.44%5% Revenue breakdown by activity Software revenue1,601.51,476.18%9%5,613.35,360.05%6%Of which licenses and other software revenue405.4351.915%15%1,125.21,087.63%4%Of which subscription and support revenue1,196.11,124.36%7%4,488.14,272.45%6%Services revenue152.8167.3(9)%(9)%600.3591.42%2% Software revenue breakdown by product line Industrial Innovation901.8837.38%8%3,019.62,908.04%5%Life Sciences297.7295.11%0%1,144.21,158.9(1)%(1)%Mainstream Innovation402.0343.717%17%1,449.41,293.212%13% Software Revenue breakdown by geography Americas595.0566.75%5%2,214.72,141.93%4%Europe685.0601.114%14%2,150.42,027.36%6%Asia321.4308.44%7%1,248.11,190.85%9% Operating income€ 636.8 € 589.8 8% € 1,983.7 € 1,925.6 3% Operating margin36.3%35.9% 31.9%32.4% Net income attributable to shareholders€ 530.7 € 487.2 9% € 1,705.1 € 1,597.9 7% Diluted earnings per share € 0.40 € 0.36 9%11%€ 1.28 € 1.20 7%9% Closing headcount26,026 25,573 2% 26,026 25,573 2% Average Rate USD per Euro1.071.08(1)% 1.081.080% Average Rate JPY per Euro162.55159.122% 163.85151.998% 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 figuresDecember 31,2024December 31,2023ChangeRevenue QTD1,754.21,643.4110.9111.80.6(1.6)Revenue YTD6,213.65,951.4262.2302.02.2(42.0) 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 endedTwelve months endedDecember 31,December 31,December 31,December 31,2024202320242023Licenses and other software revenue405.4351.91,125.21,087.6Subscription and Support revenue1,196.11,124.34,488.14,272.4Software revenue1,601.51,476.15,613.35,360.0Services revenue152.8167.3600.3591.4Total Revenue€ 1,754.2 € 1,643.4 € 6,213.6€ 5,951.4Cost of software revenue (1)(134.1)(124.9)(498.5)(453.9)Cost of services revenue(132.7)(131.0)(517.8)(517.1)Research and development expenses(327.7)(317.5)(1,286.2)(1,228.3)Marketing and sales expenses(456.6)(429.3)(1,704.3)(1,624.5)General and administrative expenses(136.4)(124.8)(470.5)(450.6)Amortization of acquired intangible assets and of tangible assets revaluation(87.5)(94.9)(361.6)(378.9)Other operating income and expense, net4.2(39.5)(15.0)(56.2)Total Operating Expenses(1,270.9)(1,261.8)(4,854.0)(4,709.5)Operating Income € 483.4 € 381.6 € 1,359.6 € 1,241.9 Financial income (loss), net22.927.8118.459.0Income before income taxes€ 506.3 € 409.4 € 1,478.0 € 1,300.9 Income tax expense(95.4)(79.1)(279.9)(250.7)Net Income € 410.9 € 330.3 € 1,198.1 € 1,050.2 Non-controlling interest1.1(0.3)2.10.7Net Income attributable to equity holders of the parent€ 412.0 € 330.0 € 1,200.2 € 1,050.9 Basic earnings per share0.310.250.910.80Diluted earnings per share € 0.30 € 0.25 € 0.90 € 0.79 Basic weighted average shares outstanding (in millions)1,312.71,314.11,313.31,315.1Diluted weighted average shares outstanding (in millions)1,330.01,336.61,333.41,336.8 (1) Excluding amortization of acquired intangible assets and of tangible assets revaluation.
In millions of Euros, except per share data and percentagesTwelve months ended December 31,Change2024Adjustment(1)20242023Adjustment(1)2023IFRSNon-IFRS(2)IFRSNon-IFRSIFRSNon-IFRSTotal Revenue€ 6,213.6 € 6,213.6€ 5,951.4-€ 5,951.44%4%Revenue breakdown by activity Software revenue5,613.3 5,613.35,360.0-5,360.05%5%Licenses and other software revenue1,125.2-1,125.21,087.6-1,087.63%3%Subscription and Support revenue4,488.1 4,488.14,272.4-4,272.45%5% Recurring portion of Software revenue80% 80%80% 80% Services revenue600.3-600.3591.4-591.42%2%Software Revenue breakdown by product line Industrial Innovation3,019.6-3,019.62,908.0-2,908.04%4%Life Sciences1,144.2-1,144.21,158.9-1,158.9(1)%(1)%Mainstream Innovation1,449.4-1,449.41,293.2-1,293.212%12%Software Revenue breakdown by geography Americas2,214.7 2,214.72,141.9-2,141.93%3%Europe2,150.4-2,150.42,027.3-2,027.36%6%Asia1,248.1-1,248.11,190.8-1,190.85%5%Total Operating Expenses€ (4,854.0)€ 624.2 € (4,229.8)€ (4,709.5)€ 683.7 € (4,025.8)3%5%Share-based compensation expense and related social charges(245.6)245.6-(245.8)245.8- Amortization of acquired intangible assets and of tangible assets revaluation(361.6)361.6-(378.9)378.9- Lease incentives of acquired companies(1.9)1.9-(2.8)2.8- Other operating income and expense, net(15.0)15.0-(56.2)56.2- Operating Income€ 1,359.6 € 624.2 € 1,983.7 € 1,241.9 € 683.7 € 1,925.6 9%3%Operating Margin 21.9% 31.9%20.9% 32.4% Financial income (loss), net118.43.2121.659.029.388.2101%38%Income tax expense(279.9)(117.0)(396.8)(250.7)(164.1)(414.8)12%(4)%Non-controlling interest2.1(5.5)(3.4)0.7(1.9)(1.2)190%187%Net Income attributable to shareholders€ 1,200.2 € 504.9 € 1,705.1 € 1,050.9 € 546.9 € 1,597.9 14%7%Diluted Earnings Per Share (3)€ 0.90 € 0.38 € 1.28 € 0.79 € 0.41 € 1.20 14%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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