Dassault Systemes: Takeaways from the dbAccess European Champions Conference

研报英文原文证据摘录

Dassault Systemes: Takeaways from the dbAccess European Champions Conference

Deutsche Bank

Research

Rating Company Date

Hold Dassault Systemes 28 May 2026

Company Update

Europe

France

Reuters Bloomberg Exchange Ticker Price at 26 May 2026 (EUR) 20.33

DAST.PA DSY FP PAR DAST

Price Target (EUR) 21.00

Technology

ADR ISIN 52-week range (EUR) 33.64 - 15.96

IT Software & Services

DASTY US2375451083

Takeaways from the dbAccess

Valuation & Risks European Champions Conference

Nicolas Herms

Summary Takeaway Research Analyst

We had the pleasure of hosting Dassault Systèmes CFO Rouven Bergmann for a +49-69-910-13052

series of investor meetings at our European Champions Conference in Frankfurt.

Johannes Schaller

Below are our key takeaways: Research Analyst

+49-69-910-31731

AI: More value-based pricing; uplift potential from higher value participation

Nooshin Nejati

AI remained the most discussed topic. While AI-native startups are making inroads

Research Analyst

into CAD/Simulation/PLM, in most cases customers ultimately (re-)turn to Dassault

+49-69-910-61797

for industrial-scale deployment, as mission-critical AI solutions demand reliability/

certifiability, deep physics grounding, and robust data context to an extent that Yusuf Jamal

cannot be provided by startups. With customers adopting more of Dassault’s AI- Research Associate

native solutions, the revenue mix will gradually shift towards more usage/outcome-

based, token-driven pricing, offering revenue uplift potential due to Dassault’s Kunal Gupta

higher value participation (e.g. engineering hours saved through Virtual Research Associate

Companions). AI monetization is deliberately kept separate from existing seat-

based pricing, as management noted customer frustration with other vendors