And there is a short video of one minute here. So could you please just confirm that your expectation around Medidata growth for FY '20 overall remains about the same at 13% or any change there? Of course, it was triggered by the sensitivity of the supply chain related to its critical exposure. Most of the financial figures on this conference call are presented on a non-IFRS basis, with revenue growth rates in constant currencies, unless otherwise noted. Of course, this first-quarter 2020 announcement is in a very special context. Your line is open. And we also did some share buyback to offset, in fact, the two -- when we did the acquisition of Medidata, at the time of the closing, we had convert their -- all their long-term incentive plan with Dassault Systèmes shares. Again, maybe could you just go into a little bit more detail there, whether that's comparing to the financial crisis or explaining what you're seeing in those sectors to justify why that's realistic? Just a few quick ones. FDA is involved in that process. Zooming to the life sciences, the plus 384%. And Europe is almost split in two different parts. And thank you by the way for that. And my assumption is that this shouldn't persist through the rest of 2020, but it would be interesting to hear your take or your outlook for that vertical for the rest of the year. Pascal, you have a view. So that's the way I did my sanity check. And Bernard stated out clearly because the supply chain management will not be the same. And in fact, it's visible on the agenda when we have the calls. Marie Dumas Usually, they are at 30 days. The cash flow for the quarter, for Q1, is reaching EUR 458 million, a slight decrease compared to last year, and I will give you more detail. And of course, we also associate ourselves with all the research development to find out ultimately the proper vaccine for this world challenge. And this is what I will explain to you right now. The services revenue is growing at plus 14% excluding the currency effects. Thank you. Hi. So just to add a few things. We are updating our financial outlook, and providing because of the complexity. Was it created with the 3DEXPERIENCE, CATIA (+ICEM Surf), SOLIDWORKS, SIMULIA (Abaqus, CST, Simpack, XFlow, etc) brands, or another Dassault Systèmes' software?. And on an organic basis, its minus 1% which is not so bad compared to the situations. And it is illustrated very well in a few things. We are -- they are using Medidata for synthetic control arm. The last point, the last highlight for the quarter, is, I think you have the proof that how our business model is resilient. You have all of this. And just, finally, the simulation performance SIMULIA in the first quarter and how you expect that to maybe perform over the remainder of the year? It's happening midyear of this year, where basically the license enablement of the SOLIDWORKS desktop and services will be done mainly, and only, from the cloud. There is probably one point I did not factor in my guidance is, as you may know, Boeing is going under tremendous pressure. The following slide deck was published by Dassault Systèmes SE in conjunction with their 2020 Q1 earnings call. And as you know, in our sectors, hiring people, training people takes time, and it's a lot of investment we are doing. So let's start with Asia. And you need to do a lot of engineering upfront. And let's go through this crisis in the most safest way possible. Then after, we build the revenue -- the top-lines. 5:43 a.m. April 23, 2020 - Seeking Alpha. We prefer to expand the payment terms rather than to negotiate the maintenance and the subscriptions. And your next question comes from the line of Stacy Pollard from JP Morgan. Clearly, there is a lot of work done by companies now to rethink about their supply chain. See you at the top! We had this, to a certain extent, this concern starting last year with the supply chain. Recurrent revenue which is consistent with what we saw to a certain extent in Q1, I'm expecting the recurring revenue to be probably a little bit more impacted H2 due to the lack of new license and probably the churn, who will be increasing a little bit. Please ask your question. VÉLIZY-VILLACOUBLAY, France — April 1, 2020 — Dassault Systèmes (Euronext Paris: #13065, DSY.PA) today announces its preliminary non-IFRS unaudited total revenue outlook for the first quarter ended March 31, 2020. We should notice also that DELMIA is growing at double-digit because all this crisis is highlighting the fact that you need to prepare how you -- we're going to restart. So -- and as you may know, Medidata, they have a significant footprint in the U.S. and China and Europe and Asia, and Europe still represent, I will not say, an untapped market, but the market where they can improve significantly their footprint. So moving from EUR 4.840 billion to EUR 4.5 billion and EUR 4.55 billion, the new guidance at the revenue level. Our capex would not change, because it's relatively consistent year over year. Dassault Systèmes SE (French pronunciation: [daso sistɛm]) (abbreviated 3DS) is a Fortune 50 large software company that develops software for 3D product design, simulation, manufacturing and more.. A Dassault Group subsidiary spun off from Dassault Aviation in 1981, it is headquartered in Vélizy-Villacoublay, France, and has around 20,000 employees in 140 different countries. And given the situation, we gave to them 30 additional days until June. Was it created with the 3DEXPERIENCE, CATIA (+ICEM Surf), SOLIDWORKS, SIMULIA (Abaqus, CST, Simpack, XFlow, etc) brands, or another Dassault Systèmes' software?. And this -- in this category, you have several brands including SOLIDWORKS, Centric PLM, 3DVIA. And the last point, MyMedidata, the announcement today, that's part of the result of an intense passionate conversation between the teams. I checked these assumptions related to what happened in 29%, when we had this crisis between 28% and 29%. Great. So we are working on those topics, and I think the team is highly excited to connect with universities, start-ups and so on. The good news is really coming from the aerospace because unsurprisingly, the aerospace is growing at double-digit for Q1. And with Acorn, with Medidata Acorn AI, we do things for synthetic control arm that no one else can really do because you cannot do that from documents. Related to the recurring revenue, the question is, as I was clearly stating, there are a few components. We believe that the virtual world of modeling simulation on large data science are going to help the real world being improved and being more sustainable. OK. And has that been incorporated into your guidance already or is that potential? We did Q1 on plan. Its world-leading solutions transform the way products are designed, produced, and supported. A few observations that might be helpful for you. Returns as of 12/03/2020. Hi. Bloomberg the Company & Its Products The Company & its Products Bloomberg Terminal Demo Request Bloomberg Anywhere Remote Login Bloomberg Anywhere Login Bloomberg Customer Support Customer Support Dassault Systèmes Provides Preliminary First Quarter 2020 non-IFRS Total Revenue Growth Outlook Preliminary and Unaudited 2020 First Quarter non-IFRS Financial Information (Unaudited, all revenue growth at constant currency and on a non-IFRS basis) * Q1 2020 preliminary total revenue 2.5% to 5% below the low-end of Q120 objectives, reflecting weaker new licenses revenue and lower … If you split and you go to Page 40 -- if you split the Software revenue between the License and the subscription and support, the License organic growth, in fact, is decreasing by minus 20%, and the subscription and support is growing at plus 30%. It's the second largest industry after transporation and mobility. On this environment, I think customers are also realizing that the answer of integrated collaboration goes beyond just working from home. This is the kind of result of working together, and convincing the team, the genius of Medidata that one step further is possible. You are now familiar with the value of digital mockup, the value of life cycle management, the value of the experienced economy where product is not enough, experience is of value, and the decision that we made to make those technologies available for life, not only for things. Let's conquer your financial goals together...faster. And we are benefiting from that, clearly, with the different contracts going on. Yeah. OK? And Pascal and I will share with you a few insights about that. The revenue is coming 2.5% below the low end objective, and you are aware of that. And this documentation has to be generative. Apr 23rd, 2020 Learn more. The virtual world extend and improve the real world. Investor Contacts. And Pascal will give you a very comprehensive view of that, a framework of thoughts, because it's very difficult to provide one number without having the articulation of the basis of it. Stock Advisor launched in February of 2002. Bernard Charles -- Vice Chairman and Chief Executive Officer. VÉLIZY-VILLACOUBLAY, France — April 23, 2020 — Dassault Systèmes (Euronext Paris: #13065, DSY.PA) announces IFRS unaudited financial results for the first quarter ended March. The currency effects is having a slight effect. On an organic basis, it's minus 5%. Consumer packaged goods retail is also growing at double digits which is obviously driven by the consumptions and also the good performance. And then particularly over the last few weeks, what you've started to see in those countries as those lockdowns have ended, and maybe business is probably not back to normal, but at least is starting to move in that direction? Dassault Systemes Net income (Q1, 2020) 109.2 M. Dassault Systemes EBIT (Q1, 2020) 151 M. Dassault Systemes Cash, 31-Mar-2020 2.2 B. Dassault Systemes EV 51.1 B. Dassault Systemes Revenue. Thank you Stacy. And I will come back on that topic. So to a certain extent, it's a way to be secure. And now it's becoming to be critical in what we do. And more and more they are using 3DEXPERIENCE as a channel to make it happen. And the few weeks before the windows closed for us in order to do it, we bought some shares in order to cover all the plan for '20, '21 and '22. So difficult to say -- to predict per quarter, but the trend is more positive in that sector. Thank you very much. Zooming on the operating margin, Page 42. There is a video. You'll remember a few years ago, it was almost anecdotic. For the quarter, Dassault Systèmes has reported €1.14 billion, operating margin 29.2%, EPS €0.95, up 9%; The company’s recurring revenue is 83% of total software; Q1 cash flow from operations of €458 million Apr 23rd, 2020 Learn more. And with that, I give the floor to Pascal because he has interesting things to share with you. Thank you. That's the meaning of the announcement today. But the mindset is definitely there to buy some roles, processes in order to optimize, to reengineer, if you want, what you're going to do. The Ascent is The Motley Fool's new personal finance brand devoted to helping you live a richer life. So we have developed many new offers in order to counterbalance these situations. But there is a limitation, and this is a proof. Q2, we are expecting to be minus 30%. Again, the subscription is composed by renewal and growth. I think there is a video here. So I'm going to share that of course with Pascal and provide you with I think quite interesting insights about the way we observe the sectors we serve and its implication for the Dassault Systèmes plan for the next quarters and the full year. In fact, it's mainly coming from the DSO. We are removing our supply chain system. So assuming that Boeing is taking the decisions to ask us or to come to a compromise to adjust a little bit. Reviewer Role Company Size. Keep in mind that we renewed 40% of the maintenance and support in Q1. So Medidata, the plan is still the same, just 13% growth for the full year. François-José Bordonado - VP, IR. Stefan Slowinski -- Exane BNP Paribas -- Analyst. Americas, the growth is 46% for the quarter. And by the way, simply said, we are going to use our own platform as a channel. And to what degree, from a competitive standpoint, do you feel that you're kind of more differentiated? Zooming to Europe, the growth is plus 2%. Half of the world has been frozen, in some way, and confined. And last point here, related to the very deep purpose that we basically communicated on February 6, 2020, for the next 20 years of our plans, and we provided a 10-year visibility, but I think it's a bigger plan. So the consequences are significant. In some way, when you are using supply chain, that's what is the factor which is happening. To what extent has the customer conversations were not changed versus say the initial point when you made the acquisition? OK? Clearly, the total revenue and the Software revenue growth is fully online with plus 19%, plus 17% on both cases. VÉLIZY-VILLACOUBLAY, France — October 12 th, 2020 — Dassault Systèmes (Euronext Paris: #13065, DSY.PA), the 3DEXPERIENCE Company, world leader in 3D design software, 3D Digital Mock Up and Product Lifecycle Management (PLM) solutions, will publish its … Here is a good example of what we do with Medidata. We gave you some indication for the next 10 years. And they have decided to really -- we have decided to work together to create virtual twin experience of critical infrastructure. I was just wondering how you expect those renewals to evolve I guess going into next year. This weekend, we are going to put online our next evolution, major evolution of 3DEXPERIENCE platform. You see here several examples in simulation, creating new type of low-cost medical equipment as well as of course data intelligence and global collaboration. On the operating margin, the operating margin will be between 25% and 26.5% which leads to an EPS of EUR 0.72 to EUR 0.77 for Q2. Those topics are back. And not because I want to hide it. And it's also highlighting the fact that we made a lot of progress in this space. There are more -- there are over a 100 worldwide projects going on with extremely innovative people to find new solutions for mask, protection, new solutions for even respirators on medical equipment, even frugal engineering for our countries where the healthcare system is less developed. But when you have a crisis, the model doesn't -- the optimization doesn't work. As I was telling you, in the last months, I mean, we did some significant deals in China with large accounts in a sector where you are not expecting to have those kind of deals, like transporation and mobility. We will see consolidation in aerospace and defense, and especially in the supply chain. Please ask your question. Dassault Systemes SE Q2 2020 Earnings Call Jul. That's it for me. When you do clinical trial, you have two groups of passion. And later in the presentation, I will give you the example of what we do in China. MyMedidata I think will be something that is going to be a game changer to expand from professional clinical trial to use the infrastructure for more generic therapeutics implementation. Just to be clear, you mentioned the EUR 200 million of potential headwind. Part of the plan is based on the fact that we have some duration for the lockdown. April 23, 2020, 09:00 ET. And then the second question was again more generally on kind of pipeline and visibility. synthetic control arm is -- was new, was going on when we acquired Medidata. I think the -- on the defense side, many countries are going to continue to fund significant progress siting on programs because it will be a way to also sustain the economy, not only the defense aspect, but the innovation. Your next question comes from the line of Stefan Slowinski from Exane BNP Paribas. And the measure I'm taking is to maintain the same number of people we have end of March for the rest of the year. And you also have the guidance for Q2. Dassault Systèmes Announces the Acquisition of NuoDB, a Cloud-Native Distributed SQL Database Leader VELIZY-VILLACOUBLAY, France--(BUSINESS WIRE)--Dassault Systèmes (Euronext Paris: #13065, DSY.PA) today announced jointly with NuoDB, that Dassault Systèmes, which already had a 16% ownership interest, is acquiring the remainder of NuoDB equity. Dassault Systèmes Reports Strong Third Quarter Operational Performance, Confirms its 2020 non-IFRS EPS Objective. And on the services side, we are decreasing by 13 points so decreasing from 19% to between 5% to 7%. And that's a point which is probably good to notice, that when I was stating that the organic growth for the recurring revenue was at 5% overall, it's relatively consistent from all the different geos, across the different geos. We are using one platform, three collaborations to connect all those elements together, and it's getting some results. Coming to the dividends, we confirm that we're going to pay our dividend on time at EUR 0.70 which is an increase of 8%. And also the education online with the three experienced education infrastructure. You can see the overall performance for the quarter is minus 1% which is strictly in line with the performance of CATIA, and the performance for ENOVIA is minus 11%. If you move to the infrastructure and cities, representing 10% of the revenue, we are growing at double-digit despite the fact that these sectors have been severely impacted by the crisis. Just maybe the competitive environment, are you seeing any competitors struggling? If we go to Page 38. First of all, I think this quarter revealed a lot of things of what we have been told to you for almost a few years. There is no reason at this stage to consider this. It's a different new set of practices. And as you may know, you remember what I told you, the opportunity for us is now to have the partners promoting 3DEXPERIENCE platform and especially on the cloud because the vast majority of the revenue coming from 3DEXPERIENCE platform is still coming from the direct sales. The second thing we think is becoming more visible, and I cannot mention explicitly the case, but I think that there will be new mutualization of production capacity between competitors. Headlines. We have three days additional DSO, and the DSO impact is the fact that Medidata, in terms of payment terms, they are much more close to 100 days which is not the standard in Dassault Systèmes, and we will continue to align their practice accordingly to what we do. You may have noticed today an announcement which is not a minor one. And if you zoom 17% growth for the total Software revenue, and as we stated to you, the counter performance is coming from the license, minus 20% compared to our objective which was flat to minus 5%, new license -- the new license. That's the reason why I stated clearly that on a full year basis, I continue to have probably EUR 200 million cash flow being postponed to 2021. Maybe just first of all, I wanted to possibly dig in on the Asian side of things. Third, we are on time, and thanks to our team here for the delivery of the major evolution of our platforms on time. And I rebase the budget accordingly. And I know you are following us carefully. For the Maintenance and Support which represent almost -- close to 80% of the total recurring revenue, the percentage is equivalent to the percentage of the revenue coming from the different channels. I'm François Bordonado, Dassault Systèmes investor relations. And I think that's the framework, analytics platforms continuity and the breakthrough of synthetic control arm because I believe that this is quite important. Other languages available: / / / . Our aim is simple: break down the silos between design, modeling and simulation and see the value that looking at the design process as a whole can bring. And we can notice that not only we have a lot of competitive displacement this quarter. I guess a lot of investors would see the exposure you have, particularly to automotive and the auto supply chain and then possibly also to Aero and feel that only take one or two points out of the recurring growth is a little ambitious. Embed Graph. One group will get the therapeutics, another group will get nothing. And usually, when consolidation is happening, it's an open door for us because you need to integrate different systems. There was not even one week delay. And I think you will see today that it's even more real than what people might even think of. And as I was telling you, I'm expecting a decrease on the new license between minus 28% and minus 31%. The passion acquisition is becoming a massive problem for all the industry sector. But the reality, when you look at the world today, even advanced hospital, we're having extreme complexity to just establish confinement area. But BioVia also growing nicely, especially on the recurring part of the revenue. And what about capex this year? Because we believe that we -- on $37.5, we can have a better collaborative environment than Dropbox Slack on WhatsApp. But we saw rebound in unexpected sectors which is the transporation and mobility as well as the High Tech. So basically, the placebo for one group could also be powered by the comparison to virtual synthetic control arm. So it came to me. And in the manufacturing sector, we believe that there will be a before and after because both supply chain will be restructured and -- as well as the way the manufacturing processes are working on the supply chain. Centric, PLM have been impacted by the situation because, as you may know, in the Fashion & Luxury Goods, China does represent a significant part, either of the supply chain or the market, the demands. Alexander Tout -- Deutsche Bank -- Analyst. So I do expect the consolidations to trigger new programs for us. The Company will release its first quarter results on April 23, 2020 as previously disclosed. The second of course important -- the third point that I want on the COVID-19 line is the acceleration of multidimensional trial, powered by Medidata. Michele Katz And as you may know, Veeva is a new players in this field. So we still have 60% to renew for the rest of the year, but we are close to have down half which is in the -- given the situation, probably not so bad. So the half coming from the non-personnel cost, the way I did it is I looked at the cost structure for '19. So I'm going to take probably the two questions. But we have good reasons to believe that before the end of the year, it will restart. And thanks to our friend and the team, we feel very well together on -- despite the fact that we have been only together for five months, we continue to win new accounts with PPD, a big CRO, contract research organization, a very large one, has made the decision to use Medidata clinical trial and also the data science, data analytics and predictive modeling. Remember, we are -- the payout for the dividend is only a third of the net income in the IFRS. My Medidata, as I shared with you in the announcement today, I'm excited with that. On competitors' behavior briefly, difficult. And the goal of the Capital Market Day is to make a status on the EUR 6 plan, and I think we will be in a much better position to share some analysis and highlight at that time. So let's start with the business highlights. Now we have 1,500 customers with Medidata. We adopted IFRS 15 in 2018. That's the new date for the Capital Market Day. But also, we start to achieve a certain critical mass. We are connecting the desktop installed base with 3DEXPERIENCE platform and the cloud. The first one, I will do a roadshow in the coming weeks. And I do not have seen, specifically in China, the recurrent being under pressure in Q1, if it is the question. Point number two, I do not expect to have churn from the large account, as I was clearly stating. So do not see one single reason to change it. So the question is, how do I need to account this? Dassault Systèmes Provides Preliminary First Quarter 2020 non-IFRS Total Revenue Growth Outlook Preliminary and Unaudited 2020 First Quarter non-IFRS Financial Information (Unaudited, all revenue growth at constant currency and on a non-IFRS basis) Q1 2020 preliminary total revenue 2.5% to 5% below the low-end of Q120 objectives, We believe that modular applying the manufacturing discipline to construction is still a very valid point. ET. Once again, there are many competitors in this area doing digital documents. I think you appreciated that. And there's a difference between document-based and science-based. So that's -- at this point in time, I think July will be better Stacy to give you more insights about the other trends. And they have decided to select our solutions, Medidata, to do many things, not only to manage what we call the Electronic Data Capture which is almost all the data you need to put into the system to do the trial, also the supply chains, all the targeted source data, but more important, also the electronic trial master file. Dassault Systèmes SE 2020 Q1 - Results - Earnings Call Presentation. And more important, the operating margin is also on target. So obviously, you have the contribution of Medidata. Company Participants. In addition, we adopted the new IFRS 16 lease standard as of January 1, 2019. Connecting conversation, community, dashboarding, pipeline of ideas, program management, to-do list, 3DEXPERIENCE themselves, video conferences, all in one for $37.5 per user per month, $37.5 per user per month, EUR 37.5 per user per month. And the way they usually enter into this space is by targeting the document management which is so-called the electronic trial master file. Remember, this year, we -- the plan is for Boeing, and it's something I shared. No, no, because we are not there. And I think '19, minus EUR 200 million could be a good base. And especially for CATIA and ENOVIA, transporation and mobility still represent a significant part of their revenue. And here, you have the full effect of the different tax regime, whether it's the new French tax regime for the software or the UX -- the U.S. one. Q1 2020 preliminary total revenue 2.5% to 5% below the low-end of Q120 objectives, reflecting weaker new licenses revenue and lower services activity ... ©2020 Dassault Systèmes… And to a certain extent, on the high end of the target, with 29.2% which is a good demonstration of our ability to react quickly to put the right measure in place to counterbalance the lack of revenue coming from the new license. But to a certain extent, you have the strategic thinking behind. So we start to have the synergy in place to expand the scope -- the geographic scope with them. So for the large companies, the vast majority of them are multiyear contracts. The growth will be impacted the same way than the new license. Bernard is free to have what you want. But at this stage, there is no reason to do it. So I hope you noticed the simplicity, the efficiency of such kind of approach. And on the EPS, moving from EUR 4.15 million to EUR 4.20 million to EUR 3.65 million to EUR 3.72 million which is the new guidance for the EPS. Please ask your question. Yup. OK. And 29 -- on Page 29, we believe that the supply chain which are very static in poor ERP systems today, can be much more agile and dynamic with resource reallocation based on the needs and sensitivity of the geographies or sensitivities of the suppliers involved. Good morning. And I think together, we are really concentrating on that. That's visible. Please launch the video.[Commercial]. It's a proof point that we are fully operational. We launched a marketing program, whereby you have some incentives. That would also be useful. And from an -- from the dilutions coming from the acquisitions, Medidata did a little bit better compared to the plan. And speaking about our people in the company believe me, I am on Page 20, young talents redefine the workforce of the future. And that's the reason why in terms of new license, they decreased by 20%. So the fact for us to demonstrate that we are empathic with them, there is solidarity with our customers, is to help them on the cash flow. We are using it for our partners. Operating margin and EPS at the high end of the objectives. Béatrix Martinez And especially maybe talking about what you're thinking about from a new rental or new subscription business. Moving to the operating expense, Page 49. So depending the situation for them, if they do not have the people on site, if the situation is complicating the ramp-up, maybe the ramp-up will be postponed. The second thing which is also key to notice is in this specific environment, many partners cannot visit anymore their customers because they cannot travel. And the second thing I took into account is the fact that we expect to have additional churn, mainly coming from the mid-sized market. Dassault Systèmes (OTCMKTS:DASTY) 's stock had its "hold" rating reissued by equities researchers at Deutsche Bank Aktiengesellschaft in a report issued on Monday, The Fly reports. So to a certain extent, the discount is not the point. I have nothing special on that aspect at this point in time. So if you go to Page 50, you have the variation of the revenue and the EPS. And on the other hand, you have the Subscriptions. And I think this acceleration of adoption, BIOVIA, is real also in our numbers. Delphine Da Maia-Levy / Dymphna Hawksley, Phone: +33 1 61 62 69 24/7021 Later today, we'll also hold a conference call. We are, as a consequence of those moves, really on the front line on many aspects. Bernard Charls -- Vice Chairman and Chief Executive Officer. So nevertheless, I'm taking some measure. But I think we are changing the game of their thought process. Now we are ready to take the questions. And as Bernard stated, we expect the governments to fund some different program to help them. To restart you need to behave, you need to operate in a different way, and you need a lot of money and simulations to prepare what you're going to do. Water, basically. 2020 Q1. But the south part of Europe, specifically France, Italy and Spain, has been even impacted by the lockdown. Thank you Adam for your questions. Bernard Charlès - … And last but not least, we decided to postpone the Capital Markets Day.
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