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Dassault Systemes, a French software company, introduced a new CEO and anticipated a doubling of its earnings per share (EPS) by 2028 on Friday.

Dassault said it expects non-IFRS EPS of 2.20 to 2.40 euros by 2028, about double the 1.13 euros it reported for the full year of 2022. The company is pursuing its Horizon 2040 strategy and, like many software companies, is transitioning from a license-based business in which clients pay for software upfront to a subscription model.

Subscription models, according to proponents, provide businesses with a more predictable revenue stream, which aids in cost planning and management. “Dassault Systèmes will increase its addressable markets from €100 billion today to €1 trillion by 2040,” according to a release.

The company, which provides software to automakers, aircraft manufacturers, and industrial clients, also announced that its deputy CEO, Pascal Daloz, will take over as CEO on January 1, 2024. He will succeed Bernard Charlès, who will remain chairman.

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