Paris sells on Dassault Systemes, revises 2024 targets downwards
The group, which had initially set itself a total turnover target of 8-10% growth at constant exchange rates, now expects an increase in turnover in the range between 6% and 8%.
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(Il Sole 24 Ore Radiocor) - Dassault Systemes slipped on the Paris Stock Exchange after cutting its targets for 2024. The French software publisher's stock plunged more than 4%, making it the 'black jersey' of the Cac 40 index and also among the worst of the Stoxx Europe 600. Dassault Systèmes revised downwards its targets for the year due to the postponement of 'major contracts' that occurred in the second quarter.
The group, which initially set a total revenue target of between €6.35bn and €6.42bn for 2024, an increase of 8-10% at constant exchange rates, now expects revenue growth in the range of between 6% and 8%. In the second quarter, revenues are estimated at €1.49bn, up around 4%, against the company's initial estimate of €1.52bn to €1.55bn. Missing from this figure is EUR 30 million, 'mainly due to the deferral of important contracts', explains Dassault. "We have observed that our customers before signing remain cautious in a complex geopolitical context," explained ceo Pascal Daloz. "Importantly, all postponed contracts remain on the table for the coming quarters. However, we anticipate that our customers' decision-making process will continue to show some volatility, which we therefore consider prudent to reflect in our annual forecasts," the CEO added. Dassault Systèmes will publish its full second quarter results on 25 July.
