Dassault Systemes : Excellent Q1 2019 and good outlook for Q2 2019
>Strong Q1 2019 growth at almost all levels - Yesterday morning DSY reported Q1 2019 sales of € 964m, up 17% yoy on a reported basis, of which 13% yoy at constant forex, slightly higher than our forecast (ODDO BHF estimate: 12.2% yoy at constant forex) and in the high end of the guidance range (11-13%). Organic growth also exceeded our expectations, at 8% yoy (vs ODDO BHF estimate: 7% LFL yoy), primarily thanks to recurring revenue, which grew +11% yoy at constan...Dassault Systemes provides software products & consulting services. Co.'s software applications allow businesses to digitally define, simulate products, the processes & resources required to manufacture, maintain & recycle them. Co. also provides services, principally to large customers. These services comprise mainly consulting services in methodology for design, deployment & support, training services & engineering services. Co.'s activities can be divided into two segments: the PLM market supports product development, production, maintenance & lifecycle management; & the Mainstream 3D market, which is primarily focused on product design.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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