Dassault Systèmes Reports Strong Revenue and EPS Growth

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, 2014 filed with the AMF on March 24, 2015. 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.


		Three months ended March 31,						Change
	In millions of Euros, except per share data and percentages	2015 IFRS	Adjustment (1)	2015 non-IFRS	2014 IFRS	Adjustment (1)	2014 non-IFRS	IFRS	Non-IFRS (2)

	Total Revenue	€ 651.5	13.6	€ 665.1	€ 502.3	0.5	€ 502.8	30%	32%
	Total Revenue breakdown by activity
	Software revenue	578.2	12.8	591.0	449.6	0.5	450.1	29%	31%
	New Licenses	156.5	7.1	163.6	118.1			33%	39%
	Other software-related revenue	5.6			1.6			250%
	Periodic Licenses and Maintenance	416.1	5.7	421.8	329.9	0.5	330.4	26%	28%
	Recurring portion of Software revenue	72%		71%	73%		73%
	Services and other revenue	73.3	0.8	74.1	52.7			39%	41%
	Total Software Revenue breakdown by product line
	CATIA software revenue	210.6			187.5			12%
	ENOVIA software revenue	63.7			59.7			7%
	SOLIDWORKS software revenue	142.7			103.5			38%
	Other software revenue	161.2	12.8	174.0	98.9	0.5	99.4	63%	75%
	Total Revenue breakdown by geography
	Americas	197.4	6.9	204.3	138.4		138.4	43%	48%
	Europe	282.5	4.5	287.0	231.6	0.5	232.1	22%	24%
	Asia	171.6	2.2	173.8	132.3		132.3	30%	31%
	Total Operating Expenses	(€ 541.0)	47.6	(€ 493.4)	(€ 422.0)	58.7	(€ 363.3)	28%	36%
	Share-based compensation expense	(5.2)	5.2	-	(20.4)	20.4	-	-	-
	Amortization of acquired intangibles	(40.1)	40.1	-	(27.5)	27.5	-	-	-
	Other operating income and expense, net	(2.3)	2.3	-	(10.8)	10.8	-	-	-
	Operating Income	€ 110.5	61.2	€ 171.7	€ 80.3	59.2	€ 139.5	38%	23%
	Operating Margin	17.0%		25.8%	16.0%		27.7%
	Financial revenue & other, net	0.7	0.0	0.7	3.9	0.0	3.9	(82%)	(82%)
	Income tax expense	(40.2)	(20.4)	(60.6)	(30.1)	(20.3)	(50.4)	34%	20%
	Non-controlling interest	(1.1)	0.0	(1.1)	(0.2)	(0.2)	(0.4)	450%	175%
	Net Income attributable to shareholders	€ 69.9	40.8	€ 110.7	€ 53.9	38.7	€ 92.6	30%	20%
	Diluted Net Income Per Share (3)	€ 0.27	0.16	€ 0.43	€ 0.21	0.16	€ 0.37	29%	18%
(1)In the reconciliation schedule above, (i) all adjustments to IFRS revenue data reflect the exclusion of the deferred revenue adjustment of acquired companies; (ii) adjustments to IFRS operating expense data reflect the exclusion of the amortization of acquired intangibles, share-based compensation expense and related social charges, and other operating income and expense, (iii) adjustments to IFRS financial revenue and other, net reflect the exclusion of certain one-time items included in financial revenue and other, net, and (iv) all adjustments to IFRS income data reflect the combined effect of these adjustments, plus with respect to net income and diluted net income per share, the income tax effect of the non-IFRS adjustments and certain one-time tax effects.

		Three months ended March 31,
	In millions of Euros	2015 IFRS	Adjustment	2015 non-IFRS	2014 IFRS	Adjustment	2014 non-IFRS

	Cost of revenue	(107.5)	0.1	(107.4)	(71.2)	0.6	(70.6)
	Research and development	(123.2)	2.2	(121.0)	(86.8)	7.8	(79.0)
	Marketing and sales	(217.5)	1.9	(215.6)	(175.9)	5.3	(170.6)
	General and administrative	(50.4)	1.0	(49.4)	(49.8)	6.7	(43.1)
	Total share-based compensation expense		5.2			20.4
	(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 255.6 million diluted shares for Q1 2015 and 255.2 million diluted shares for Q1 2014 adjusted to reflect the two-for-one stock split effected on July 17, 2014.

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