Dassault Systemes Raises 2022 Views After 1Q Beat Forecasts

By Joshua Kirby

Dassault Systemes SA on Wednesday raised its financial targets for the full year, as revenue and profitability beat the company's expectations in the first quarter.

On a non-IFRS basis, the French software maker booked quarterly operating profit of 464 million euros ($493.6 million), rising from EUR397.4 million in the same period last year. The operating margin rose to 35%, Dassault Systemes said.

Net profit increased to EUR362.3 million on total revenue that rose 8% at constant currency to EUR1.32 billion from EUR1.17 billion previously.

The company had expected total revenue for the first quarter of between EUR1.28 billion and EUR1.30 billion, with an operating margin between 32.3% and 33%.

On the back of the results, Dassault Systemes said it now expects 2022's operating margin to rise to between 33.4%-33.7%, from a previous forecast of 32.7%-33.1%.

The company expects total revenue for the year of between EUR5.36 billion and EUR5.41 billion.

For the second quarter, the company is targeting total revenue between EUR1.3 billion and EUR1.32 billion, with an operating margin at 31.7%-32.4%.

All figures are on a non-IFRS basis.

Write to Joshua Kirby at [e-mail]; @joshualeokirby

(END) Dow Jones Newswires

April 27, 2022 01:40 ET (05:40 GMT)

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