Get 40% Off
🤯 Perficient is up a mind-blowing 53%. Our ProPicks AI saw the buying opportunity in March.Read full update

Dassault Systemes raises annual targets after sales beat

Published 26/07/2022, 06:11
© Reuters. FILE PHOTO: The logo of Dassault Systemes is seen on a company building in Brest, France, March 14, 2022. REUTERS/Stephane Mahe/File Photo

By Jagoda Darlak and Federica Mileo

(Reuters) -French software maker Dassault Systemes on Tuesday raised its annual forecasts after reporting second-quarter revenue above analysts' expectations driven by its industrial business.

The group, which sells software used by carmakers, planemakers and industrial firms, now expects to report 2022 sales in a range of 5.49 billion to 5.54 billion euros ($5.61 billion to $5.66 billion), and earnings per share between 1.08 euro and 1.10 euro.

It had previously forecast full-year sales of 5.36 billion to 5.41 billion euros and EPS of 1.04 euro to 1.06 euro.

The company reported an 11% jump in sales to 1.38 billion euros in constant currencies for the April-June period, beating the 1.33 billion euro forecast in a company-provided poll.

"We have demonstrated once again the resilience of our strategy against a challenging macroeconomic and geopolitical backdrop, with an impact from Russia and China," Chief Operating Officer Pascal Daloz said in a statement.

The company said the industrial business was one of the main drivers for growth, with Catia, Enovia and Delmia brands all delivering double-digit growth.

The group's medical unit Medidata also maintained its strong velocity, the group said.

Strong growth of Medidata, which has been used in hundreds of COVID-related clinical trials, had already helped the firm boost its annual profit target earlier this year.

The group added it had a successful quarter in terms of hiring and investments, with an 8% headcount growth year-on-year.

In April, Dassault Systemes laid out a succession plan which would see Chief Executive Officer Bernard Charles take over as chairman when Charles Edelstenne, 84, retires next January, while Chief Operating Officer Pascal Deloz would become deputy CEO.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

($1 = 0.9781 euros)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.