Revenues for the 3rd quarter and first 9 months of 2012/13

13 December 2012 Paris, France
Further buoyant growth
  • Strong organic growth over the 3rd quarter: +22.4%
  • Solid and balanced progression
  • Performance in line with the Group’s expectations

Alain de Rouvray, ESI Group’s Chairman and CEO, comments:
“Over our third quarter, the Group reaffirmed its ability to deliver substantial revenue momentum across its entire scope, which bears witness to the growing success of our virtual prototyping solutions and the relevance of the strategic choices made in regard to our acquisitions. This performance was achieved in a balanced manner between the various sectors and geographical zones, with a high rate of Repeat Business. The buoyant revenues growth over the first three quarters of our financial year affirms our conviction that we will be in line with our multi-year development plan.”

3rd quarter and 9-month revenues

The Group’s FY ends on January 31st

3rd quarter and 9-month revenues

* Sales exclude purchase/resale operations of €0.7 million. 2012/13 revenues include activity recorded by IC.IDO, consolidated from August 24, 2011, and Efield, consolidated from December 9, 2011.

** cer: constant exchange rate

Breakdown of quarterly revenues

The Group’s FY ends on January 31st

3rd quarter and 9-month revenues

3rd quarter sales

Revenues for the 3rd quarter of 2012/13 totaled 21.9 million euros; in actual terms up +24.5% on the 3rd quarter of last year. This quarter includes 0.4 million euros in revenues resulting from the consolidation of the Efield and OpenCFD activities, as these two acquisitions were announced on December 13, 2011 and September 12, 2012 respectively. The impact of these acquisitions being limited, the buoyant growth recorded by the Group was therefore mainly organic. At constant scope (excluding the acquisitions), revenues totaled 21.5 million euros over the 3rd quarter of 2012/13; an increase of +22.4% (+17.7% at constant exchange rates).

The product mix was stable relative to the same quarter of the previous year. Licenses revenues, which totaled 14.2 million euros and increased +23.4% in actual terms; represented 64.7% of total revenues, versus 65.3% for the same quarter last year.

All of the Group’s key indicators were positive. Repeat Business remained high at 82.9%, yielding substantial growth of +18.2% in actual terms. New Business represented 29.4% of Licenses revenues, recording a growth of +15.2%. This dynamism, inherent to the activity generated by new products and/or new accounts, bears witness to the sales synergies derived from the recent acquisitions.

Regarding Services activity, revenues were up +26.9% in actual terms and totaled 7.7 million euros, reflecting industry’s need for support within the framework of deployment of innovative, high value added projects that require the implementation of virtual prototyping solutions. At constant scope, revenue growth was +20.6% (+16.2% at constant exchange rates).

The evolution in the geographical split in revenues never-the-less reflects balanced growth across all of the Group’s geographical zones. Europe, Asia and the Americas accounted for 38.4%, 41.0% and 20.6% of sales respectively, compared with 40.0%, 39.3% and 20.7% over the 3rd quarter of last year. A fine performance recorded in Licenses activity in Asia should be noted, with this segment achieving organic growth of +25.6% at constant exchange rates thanks to the signing of important contracts in Japan and China in the Automotive sector.

9-month sales

Over the first 9 months of 2012/13, the Group recorded revenues of 66.7 million euros, up +23.0% in actual terms, +18.1% in organic terms, and +12.7% at constant exchange rates.

Licenses activity grew by +21.7% in actual terms (+17.2% in organic terms) to 44.3 million euros and accounted for 66.5% of total Group revenues over the first 9 months of 2012/13. The Installed Base recorded buoyant growth of +21.1% in actual terms, totaling 30.3 million euros. The rate of Repeat Business remained very high at 89%. New Business recorded solid growth of +12.6% at 10.1 million euros, and thus accounted for 25.1% of total Licenses revenues.

Services activity also recorded buoyant growth, increasing by +25.6% in actual terms (+19.9% in organic terms) to 22.3 million euros.

In terms of the geographical split, activity recorded significant growth in Europe (+23.1%), especially License sales. The development of ESI Group’s activity in Asia also continued at a buoyant rate (+21.9% in actual terms), with a substantial acceleration in the organic growth of the Services segment (+40.1%). Strong and balanced growth (+25.1% in actual terms) was also recorded in the Americas.

By sector, the first 9 months of the year saw an improvement in orders booked from sectors facing substantial competitive pressure and increasingly stringent regulations: Transportation (including Automotive) recorded an increase of +15% (accounting for 51% of booking), Aeronautical and Space +35% (13% of booking) and Heavy Industry +10% (16% of booking).

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