Net operating cash flow increased 14.1% to €115.4 million in the 2012 third quarter, compared to €101.1 million in the year-ago third quarter, reflecting principally growth in net income and working capital change. For the 2012 nine-month period, net operating cash flow was €469.2 million, increasing 22.7% in comparison to €382.4 million for the 2011 nine-month period.
During the 2012 third quarter, the Company made cash payments totaling €280.2 million in connection with the completion of the acquisition of Gemcom Software International, a global leader in mining software solutions.
The Company’s net financial position was €1.20 billion at September 30, 2012, compared to €1.15 billion at December 31, 2011, and was comprised of cash, cash equivalents and short-term investments less long-term debt and less the €200 million debt which became short term as of December 31, 2011. At September 30, 2012 compared to December 31, 2011, the Company’s cash, cash equivalents and short-term investments totaled €1.46 billion compared to €1.42 billion and total debt was €286.7 million compared to €301.3 million.
Summary Business, Technology and Corporate Highlights
Aerospace & Defense:
The Boeing Company has signed a five year contract to extend the use of Dassault Systèmes’ industry-leading applications at both Boeing Commercial Airplanes and Boeing Defense, Space & Security.
Transportation & Mobility:
Dana Holding Corporation, a global automotive supplier, will adopt the SIMULIA Simulation Lifecycle Management (SLM) application. This will expand its collaborative engineering strategy by sharing simulation processes and data across seven global technical centers. The SIMULIA SLM application provides a centrally-managed and searchable source for all of Dana’s simulation data, which can be traced and tracked to improve product designs.
Architecture, Engineering & Construction:
Dassault Systèmes and Shanghai Municipal Engineering Design Institute (Group) Co. Ltd (SMEDI), one of the most well-known Chinese public engineering companies, opened a Joint R&D Center for Civil Engineering. Together they will develop industry solution experiences for civil engineering and infrastructure construction professionals, based on Dassault Systèmes’ 3DEXPERIENCE platform. The joint venture is dedicated to bridge projects, water supply and wastewater treatment installations, roads, rail systems, as well as open and underground buildings.
Consumer Packaged Goods - Retail:
Dassault Systèmes introduced “Perfect Shelf”, a game changing Industry Solution Experience for consumer packaged goods and retail companies. “Perfect Shelf” transforms the way brands and retailers deliver better shopping experiences to consumers, faster and in every retail location.
Energy, Process & Utilities:
Dassault Systèmes and HYDROCHINA CHENGDU establish a partnership to provide Hydropower Engineering Industry Solution Experiences. The joint R&D center is committed to providing hydropower industry solution experiences based on Dassault Systèmes’ 3DEXPERIENCE platform, to streamline construction processes, enhance hydropower engineering industry design capabilities, and help harmonize dams with nature and life, minimizing the impact on both of them.
Dassault Systèmes unveiled new SOLIDWORKS Electrical Applications with real-time integration of 2D schematics and 3D models to enable mechanical and electrical teams to better collaborate and deliver more accurate designs.
Dassault Systèmes simplifies 3D Design with SOLIDWORKS 2013. The latest Release of SOLIDWORKS, a leading 3D Design Solution, enables faster model creation, optimized performance and enhanced collaboration.
NIAEP, the leading Russian nuclear power plant engineering procurement and construction company, selected DELMIA, CATIA & ENOVIA V6 to reduce nuclear power plants construction time and costs and improve quality and safety. This deployment enables NIAEP to simulate business processes, and implement detailed modeling of construction and installation.
Natural Resources:
Dassault Systèmes announces new capabilities for five key GEOVIA mining applications at MINExpo 2012. The latest updates to the GEOVIA product portfolio underline Dassault Systèmes’ commitment to delivering innovations that will help customers achieve sustainable mining productivity. The advanced geological modeling and simulation capabilities that the Surpac, GEMS, InSite, Whittle and MineSched applications bring to the Company’s 3DEXPERIENCE platform will help fulfill the Company’s purpose of harmonizing products with nature and life.
Business Outlook
Thibault de Tersant, Senior Executive Vice President and CFO, commented, “Our financial results have been gratifying, with non-IFRS software revenue growth of 10% in constant currencies, and non-IFRS earnings per share growth of 16% in the third quarter, with a similar performance year to date.
“Regionally, we had strong revenue results in Asia and an improved
performance in the Americas. In Europe, year-over-year growth moderated,
in part reflecting a strong year-ago comparison as well as some regional
softening. More globally, we did see the effects of the weakening
macro-economic backdrop as forecasted, and this was visible in
SOLIDWORKS new licenses revenue, and in the sales cycle lengthening of
ENOVIA infrastructure decisions.
