Dassault Systemes sees 2024 revenue growth at 8%-10%

Adds details, CFO comment

Feb 1 (Reuters) - French software maker Dassault Systemes DAST.PA on Thursday forecast a revenue growth of 8% to 10% in constant currency in 2024, after posting full-year earnings in line with expectations, driven by strong growth in subscriptions.

The group, which sells software to automakers, plane makers and industrial firms, expects full-year non-IFRS revenue of 6.35 billion to 6.43 billion euros ($6.86 billion to $6.95 billion) in 2024 after it rose 9% last year.

Analysts in an LSEG poll forecast the company to report 2024 revenue of 6.48 billion euros.

Overall quarterly software revenue amounted to 1.48 billion euros, up 8% due to a strong growth of subscription throughout the year. Subscription revenue brought in 1.12 billion euros in the fourth quarter.

The group's diluted net earnings (non-IFRS) rose 12% to 1.20 euros per share in 2023, in line with 1.20 euros expected by 18 analysts in a poll provided by the company.

"This performance was achieved in five years as initially planned, despite the pandemic and geopolitical instability," Chief Financial Officer Rouven Bergmann said in a statement.

($1 = 0.9258 euros)

(Reporting by Dagmarah Mackos and Lina Golovnya; Editing by Christopher Cushing and Sherry Jacob-Phillips)

((dagmarah.mackos@tr.com , lina.golovnya@tr.com))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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