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Dassault Systemes raises annual targets after sales beat

French software maker Dassault Systemes on Tuesday raised its annual forecasts after reporting second-quarter revenue above analysts’ expectations driven by its industrial business.

The group, which sells software used by carmakers, planemakers and industrial firms, now expects to report 2022 sales in a range of 5.49 billion to 5.54 billion euros ($5.61 billion to $5.66 billion), and earnings per share between 1.08 euro and 1.10 euro.

It had previously forecast full-year sales of 5.36 billion to 5.41 billion euros and EPS of 1.04 euro to 1.06 euro.

The company reported an 11% jump in sales to 1.38 billion euros in constant currencies for the April-June period, beating the 1.33 billion euro forecast in a company-provided poll.

“We have demonstrated once again the resilience of our strategy against a challenging macroeconomic and geopolitical backdrop, with an impact from Russia and China,” Chief Operating Officer Pascal Daloz said in a statement.

The company said the industrial business was one of the main drivers for growth, with Catia, Enovia and Delmia brands all delivering double-digit growth.

The group’s medical unit Medidata also maintained its strong velocity, the group said.

Strong growth of Medidata, which has been used in hundreds of COVID-related clinical trials, had already helped the firm boost its annual profit target earlier this year.

The group added it had a successful quarter in terms of hiring and investments, with an 8% headcount growth year-on-year.

In April, Dassault Systemes laid out a succession plan which would see Chief Executive Officer Bernard Charles take over as chairman when Charles Edelstenne, 84, retires next January, while Chief Operating Officer Pascal Deloz would become deputy CEO. Reuters

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