| Three months ended June 30, | Change | |||||||||||||||
| In millions of Euros | 2018 IFRS | Adjustment | 2018 | 2017 IFRS | Adjustment | 2017 | IFRS | Non-IFRS | ||||||||
| Non-IFRS | Non-IFRS | |||||||||||||||
| Cost of revenue | (120.0) | 1.1 | (118.9) | (116.9) | 1.1 | (115.8) | 3% | 3% | ||||||||
| Research and development | (161.4) | 10.8 | (150.5) | (156.2) | 11.2 | (145.0) | 3% | 4% | ||||||||
| Marketing and sales | (262.8) | 7.5 | (255.3) | (258.5) | 8.9 | (249.6) | 2% | 2% | ||||||||
| General and administrative | (69.8) | 7.9 | (61.9) | (61.6) | 5.2 | (56.3) | 13% | 10% | ||||||||
| Total share-based compensation expense | € 27.3 | € 26.4 | ||||||||||||||
(2) The non-IFRS percentage increase (decrease) compares non-IFRS measures for the two different periods. In the event there is non-IFRS adjustment to the relevant measure for only one of the periods under comparison, the non-IFRS increase (decrease) compares the non-IFRS measure to the relevant IFRS measure.
(3) Based on a weighted average 260.4 million diluted shares for Q2 2018 and 257.9 million diluted shares for Q2 2017.
IAS 18
DASSAULT SYSTEMES
SUPPLEMENTAL NON-IFRS FINANCIAL INFORMATION
IFRS – NON-IFRS RECONCILIATION
(unaudited; in millions of Euros, except per share data)
Readers are cautioned that the supplemental non-IFRS information presented in this press release is subject to inherent limitations. It is not based on any comprehensive set of accounting rules or principles and should not be considered as a substitute for IFRS measurements. Also, the Company’s supplemental non-IFRS financial information may not be comparable to similarly titled non-IFRS measures used by other companies. Further specific limitations for individual non-IFRS measures, and the reasons for presenting non-IFRS financial information, are set forth in the Company’s Document de référence for the year ended December 31, 2017 filed with the AMF on March 21, 2018. To compensate for these limitations, the supplemental non-IFRS financial information should be read not in isolation, but only in conjunction with the Company’s consolidated financial statements prepared in accordance with IFRS.
| In millions of Euros, except per share data and percentages | Six months ended June 30, | Change | ||||||||||||||
| 2018 | Adjustment (1) | 2018 | 2017 | Adjustment (1) | 2017 | IFRS | Non-IFRS (2) | |||||||||
| IFRS | Non-IFRS | IFRS | Non-IFRS | |||||||||||||
| Total Revenue IAS18 | € 1,606.6 | € 4.8 | € 1,611.4 | € 1,566.2 | € 10.1 | € 1,576.3 | 3% | 2% | ||||||||
| Total Revenue IAS18 breakdown by activity | ||||||||||||||||
| Software revenue | 1,435.4 | 4.8 | 1,440.2 | 1,388.7 | 10.1 | 1,398.8 | 3% | 3% | ||||||||
| Licenses and other software revenue | 399.3 | 399.3 | 384.8 | 384.8 | 4% | 4% | ||||||||||
| Subscription and Support revenue | 1,036.0 | 4.8 | 1,040.9 | 1,003.9 | 10.1 | 1,014.0 | 3% | 3% | ||||||||
| Recurring portion of Software revenue | 72% | 72% | 72% | 72% | ||||||||||||
| Services revenue | 171.2 | 171.2 | 177.5 | 177.5 | -4% | -4% | ||||||||||
| Total Software Revenue IA18 breakdown by product line | ||||||||||||||||
| CATIA software revenue | 491.4 | 0.5 | 491.9 | 486.2 | 486.2 | 1% | 1% | |||||||||
| ENOVIA software revenue | 160.8 | 160.8 | 158.0 | 158.0 | 2% | 2% | ||||||||||
| SOLIDWORKS software revenue | 360.3 | 360.3 | 350.9 | 350.9 | 3% | 3% | ||||||||||
| Other software revenue | 422.9 | 4.4 | 427.3 | 393.6 | 10.1 | 403.8 | 7% | 6% | ||||||||
| Total Revenue IAS18 breakdown by geography | ||||||||||||||||
| Americas | 474.7 | 2.8 | 477.5 | 490.7 | 3.2 | 493.9 | -3% | -3% | ||||||||
| Europe | 679.1 | 0.6 | 679.7 | 653.8 | 6.3 | 660.1 | 4% | 3% | ||||||||
| Asia | 452.7 | 1.5 | 454.2 | 421.7 | 0.6 | 422.3 | 7% | 8% | ||||||||
| Total Operating Expenses | (€ 1,299.0) | 149.5 | (€ 1,149.5) | (€ 1,277.3) | 145.4 | (€ 1,131.8) | 2% | 2% | ||||||||
| Share-based compensation expense | (60.2) | 60.2 | - | (54.4) | 54.4 | - | ||||||||||
| Amortization of acquired intangibles | (82.5) | 82.5 | - | (80.5) | 80.5 | - | ||||||||||
| Other operating income and expense, net | (6.9) | 6.9 | - | (10.6) | 10.6 | - | ||||||||||
| Operating Income | € 307.6 | 154.4 | € 462.0 | € 288.9 | 155.6 | € 444.5 | 6% | 4% | ||||||||
| Operating Margin | 19.1% | 28.7% | 18.4% | 28.2% | ||||||||||||
| Financial revenue & other, net | 9.1 | 1.1 | 10.3 | 22.5 | (22.6) | (0.2) | -59% | N/A | ||||||||
| Income tax expense | (80.2) | (53.5) | (133.7) | (102.2) | (45.8) | (147.9) | -22% | -10% | ||||||||
| Non-controlling interest | 0.4 | 0.4 | (1.3) | (1.3) | ||||||||||||
| Net Income attributable to shareholders | € 236.9 | 102.0 | € 339.0 | € 208.0 | 87.2 | € 295.1 | 14% | 15% | ||||||||
| Diluted Net Income Per Share (3) | € 0.91 | 0.39 | € 1.30 | € 0.81 | 0.34 | € 1.15 | 12% | 13% | ||||||||
