Dassault Systèmes Reports Strong 3DEXPERIENCE-driven Growth

Dassault Systèmes Reports Strong 3DEXPERIENCE-driven Growth with Fourth Quarter Total Revenue up 13% and Software Revenue up 11% at Constant Currency

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DASSAULT SYSTEMES
CONDENSED CONSOLIDATED BALANCE SHEET (IFRS)
(unaudited; in millions of Euros)


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

ASSETS
Cash and cash equivalents	2,809.3	2,459.4
Short-term investments	0.6	1.3
Accounts receivable, net	1,044.1	895.9
Contract assets	26.5	-
Other current assets	321.3	242.9
Total current assets	4,201.8	3,599.5
Property and equipment, net	178.2	169.0
Goodwill and Intangible assets, net	3,262.4	2,990.1
Other non-current assets	331.6	271.2
Total Assets	€ 7,974.0	€ 7,029.8
LIABILITIES AND SHAREHOLDERS' EQUITY
Accounts payable	161.7	149.3
Contract liabilities	907.5	876.4
Short-term debt	350.0	-
Other current liabilities	603.6	501.7
Total current liabilities	2,022.8	1,527.4
Long-term debt	650.0	1,000.0
Other non-current obligations	675.4	506.3
Total long-term liabilities	1,325.4	1,506.3
Non-controlling interests	63.9	1.9
Parent shareholders' equity	4,561.9	3,994.2
Total Liabilities and Shareholders' equity	€ 7,974.0	€ 7,029.8
The Group has initially applied IFRS 15 at 1 January 2018.
Under the transition method chosen, comparative information is not restated.

IFRS 15

DASSAULT SYSTEMES
CONDENSED CONSOLIDATED CASH FLOW STATEMENT (IFRS)
(unaudited; in millions of Euros)


In millions of Euros	Three months ended			Twelve months ended
In millions of Euros	December 31, 2018	December 31, 2017	Change	December 31, 2018	December 31, 2017	Change
Net Income attributable to equity holders of the parent	191.0	204.9	(13.9)	569.4	519.4	50.0
Non-controlling interest	(2.9)	(0.3)	(2.6)	(6.0)	0.7	(6.7)
Net Income	188.1	204.6	(16.5)	563.4	520.1	43.3
Depreciation of property & equipment	14.8	12.7	2.1	57.3	49.5	7.8
Amortization of intangible assets	47.5	42.7	4.8	180.4	168.2	12.2
Other non cash P&L items	107.0	(40.8)	147.8	152.8	(3.3)	156.1
Changes in working capital	(205.4)	(146.0)	(59.4)	(55.3)	10.5	(65.8)
Net Cash provided by operating activities	€ 152.0	€ 73.2	€ 78.8	€ 898.6	€ 745.0	€ 153.6

Additions to property, equipment and intangibles	(24.2)	(21.0)	(3.2)	(72.4)	(84.5)	12.1
Payments for acquisition of businesses, net of cash acquired	(4.3)	(327.4)	323.1	(251.6)	(338.2)	86.6
Sale (purchase) of short term investments, net	(0.1)	47.5	(47.6)	0.6	51.1	(50.5)
Investments, loans and others	1.5	(3.0)	4.5	0.2	4.2	(4.0)
Net Cash provided by (used in) investing activities	(€ 27.1)	(€ 303.9)	€ 276.8	(€ 323.2)	(€ 367.4)	€ 44.2

Acquisition of non-controlling interests	-	-	-	(101.5)	(37.5)	(64.0)
Repayment of short term and long term debt	-	-	-	(14.9)	-	(14.9)
(Purchase) Sale of treasury stock	(92.4)	(69.0)	(23.4)	(206.3)	(133.0)	(73.3)
Proceeds from exercise of stock-options	10.7	28.6	(17.9)	69.9	62.4	7.5
Cash dividend paid	-	-	-	(38.0)	(51.3)	13.3
Net Cash provided by (used in) financing activities	(€ 81.7)	(€ 40.4)	(€ 41.3)	(€ 290.8)	(€ 159.4)	(€ 131.4)

Effect of exchange rate changes on cash and cash equivalents	20.3	(11.4)	31.7	65.3	(195.5)	260.8

Increase (decrease) in cash and cash equivalents	€ 63.5	(€ 282.5)	€ 346.0	€ 349.9	€ 22.7	€ 327.2

Cash and cash equivalents at beginning of period	€ 2,745.8	€ 2,741.9		€ 2,459.4	€ 2,436.7
Cash and cash equivalents at end of period	€ 2,809.3	€ 2,459.4		€ 2,809.3	€ 2,459.4
The Group has initially applied IFRS 15 at 1 January 2018.
Under the transition method chosen, comparative information is not restated.

IFRS 15

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