Dassault Systèmes Raises EPS Guidance for 2018

* In constant currencies

IAS 18 DASSAULT SYSTEMES CONDENSED CONSOLIDATED STATEMENTS OF INCOME (IFRS) (unaudited; in millions of Euros, except per share data)

In millions of Euros, except per share data and percentages	Three months ended		Six months ended
	June 30,	June 30,	June 30,	June 30,
	2018	2017	2018	2017
Licenses and other software revenue	218.9	211.8	399.3	384.8
Subscription and Support revenue	530.8	506.7	1,036.0	1,003.9
Software revenue	749.6	718.5	1,435.4	1,388.7
Services revenue	87.7	87.9	171.2	177.5
Total Revenue IFRS -IAS18	€ 837.3	€ 806.4	€ 1,606.6	€ 1,566.2
Cost of software revenue (excluding amortization of acquired intangibles)	(38.2)	(37.9)	(79.0)	(78.4)
Cost of services and other revenue	(81.8)	(78.9)	(161.2)	(161.8)
Research and development	(161.4)	(156.2)	(314.0)	(305.9)
Marketing and sales	(262.8)	(258.5)	(515.8)	(518.3)
General and administrative	(69.8)	(61.6)	(139.6)	(121.8)
Amortization of acquired intangibles	(40.7)	(39.3)	(82.5)	(80.5)
Other operating income and expense, net	(4.4)	(4.5)	(6.9)	(10.6)
Total Operating Expenses	(659.0)	(637.0)	(1,299.0)	(1,277.3)
Operating Income	€ 178.3	€ 169.4	€ 307.6	€ 288.9
Financial revenue and other, net	4.4	15.3	9.1	22.5
Income before income taxes	182.7	184.6	316.7	311.4
Income tax expense	(46.7)	(61.8)	(80.2)	(102.2)
Net Income	€ 136.0	€ 122.8	€ 236.5	€ 209.2
Non-controlling interest	0.1	0.1	0.4	(1.3)
Net Income attributable to equity holders of the parent	€ 136.1	€ 122.9	€ 236.9	€ 208.0
Basic net income per share	0.53	0.48	0.92	0.82
Diluted net income per share	€ 0.52	€ 0.48	€ 0.91	€ 0.81
Basic weighted average shares outstanding (in millions)	258.9	254.5	257.9	254.2
Diluted weighted average shares outstanding (in millions)	260.4	257.9	260.0	257.1


	Three months ended June 30, 2018		Six months ended June 30, 2018
	Change*	Change in cc**	Change*	Change in cc**
IFRS Revenue IFRS -IAS18	4%	8%	3%	9%
IFRS Revenue by activity
Software revenue	4%	9%	3%	10%
Services revenue	0%	4%	-4%	2%
IFRS Software Revenue by product line
CATIA software revenue	2%	5%	1%	5%
ENOVIA software revenue	4%	9%	2%	7%
SOLIDWORKS software revenue	6%	11%	3%	12%
Other software revenue	6%	12%	7%	15%
IFRS Revenue by geography
Americas	-2%	6%	-3%	8%
Europe	6%	7%	4%	6%
Asia	9%	14%	7%	15%
Variation compared to the same period in the prior year. *In constant currencies

IAS 18 DASSAULT SYSTEMES CONDENSED CONSOLIDATED BALANCE SHEETS (IFRS) (unaudited; in millions of Euros)

In millions of Euros	June 30,	December 31,
	2018	2017

ASSETS
Cash and cash equivalents	3,043.2	2,459.4
Short-term investments	0.5	1.3
Accounts receivable, net	695.5	895.9
Other current assets	273.1	242.9
Total current assets	4,012.3	3,599.5
Property and equipment, net	169.1	169.0
Goodwill and Intangible assets, net	3,023.6	2,990.1
Other non-current assets	292.6	271.2
Total Assets	€ 7,497.5	€ 7,029.8
LIABILITIES AND SHAREHOLDERS' EQUITY
Accounts payable	132.7	149.3
Unearned revenues	1,016.0	876.4
Other current liabilities	482.4	501.7
Total current liabilities	1,631.1	1,527.4
Long-term debt	1,000.0	1,000.0
Other non-current obligations	494.6	506.3
Total long-term liabilities	1,494.6	1,506.3
Non-controlling interests	1.5	1.9
Parent shareholders' equity	4,370.4	3,994.2
Total Liabilities and Shareholders' equity	€ 7,497.5	€ 7,029.8

IAS 18 DASSAULT SYSTEMES CONDENSED CONSOLIDATED CASH FLOW STATEMENTS (IFRS)

In millions of Euros	Three months ended			Six months ended
	June 30, 2018	June 30, 2017	Change	June 30, 2018	June 30, 2017	Change
Net Income attributable to equity holders of the parent	136.1	123.0	13.1	236.9	208.0	28.9
Non-controlling interest	(0.1)	(0.1)	0.0	(0.4)	1.3	(1.7)
Net Income	136.0	122.9	13.1	236.5	209.2	27.3
Depreciation of property & equipment	14.5	11.1	3.4	28.2	22.9	5.3
Amortization of intangible assets	43.1	41.3	1.8	87.0	84.6	2.4
Other non cash P&L items	16.5	2.6	13.9	33.1	10.4	22.7
Changes in working capital	28.5	66.7	(38.2)	260.7	265.2	(4.5)
Net Cash provided by operating activities	€ 238.6	€ 244.6	(€ 6.0)	€ 645.5	€ 592.4	€ 53.1

Additions to property, equipment and intangibles	(19.3)	(27.4)	8.1	(31.3)	(45.8)	14.5
Payments for acquisition of businesses, net of cash acquired	(51.6)	(7.6)	(44.0)	(51.6)	(8.0)	(43.6)
Sale (purchase) of short term investments, net	40.8	12.5	28.3	0.7	3.7	(3.0)
Investments, loans and others	(1.5)	-	(1.5)	(1.5)	6.4	(7.9)
Net Cash provided by (used in) investing activities	(€ 31.6)	(€ 22.5)	(€ 9.1)	(€ 83.7)	(€ 43.7)	(€ 40.0)

Acquisition of non-controlling interests	(26.2)	(14.1)	(12.1)	(26.2)	(14.1)	(12.1)
(Purchase) Sale of treasury stock	(10.6)	(47.9)	37.3	(2.3)	(44.8)	42.5
Proceeds from exercise of stock-options	31.4	16.5	14.9	43.7	21.8	21.9
Cash dividend paid	(38.0)	(51.3)	13.3	(38.0)	(51.3)	13.3
Net Cash provided by (used in) financing activities	(€ 43.4)	(€ 96.8)	€ 53.4	(€ 22.8)	(€ 88.4)	€ 65.6

Effect of exchange rate changes on cash and cash equivalents	75.8	(121.5)	197.3	44.8	(127.8)	172.6

Increase (decrease) in cash and cash equivalents	€ 239.4	€ 3.8		€ 583.8	€ 332.5

Cash and cash equivalents at beginning of period	€ 2,803.8	€ 2,765.4		€ 2,459.4	€ 2,436.7
Cash and cash equivalents at end of period	€ 3,043.2	€ 2,769.2		€ 3,043.2	€ 2,769.2

IAS 18

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