DSY Dassault Systemes SA

By Mauro Orru

Dassault Systemes SE on Wednesday slightly raised its sales forecast for the year after a bump in software and services revenue in the first quarter.

Reporting on a non-IFRS basis, the French software maker said overall revenue climbed to 1.43 billion euros ($1.57 billion) from EUR1.32 billion in last year's first quarter.

Software revenue increased to EUR1.29 billion from EUR1.21 billion, while services revenue rose to EUR146 million from EUR119 million.

Operating profit slipped to EUR444.8 million from EUR464 million, with Dassault's operating margin down to 31% from 35%.

Dassault Systemes had expected first-quarter revenue between EUR1.42 billion and EUR1.44 billion, and an operating margin between 30.7% and 31.3%.

For the current quarter, the company is targeting revenue between EUR1.44 billion and EUR1.46 billion, and an operating margin between 30% and 30.5%.

For the year, Dassault Systemes now expects revenue between EUR5.94 billion and EUR5.99 billion, above a previous range of EUR5.93 billion and EUR5.98 billion. It continues to expect an operating margin between 32.3% and 32.6%.

Dassault Systemes, like other European software companies, presents its figures as two sets of numbers. One set is based on the International Financial Reporting Standards-an international accounting method that seeks to provide a global reporting standard-though analysts and investors tend to follow non-IFRS numbers. Those figures exclude share-based compensation, restructuring expenses and acquisition-related charges.

Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94

(END) Dow Jones Newswires

April 26, 2023 01:35 ET (05:35 GMT)

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