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Assassin's Creed, image courtesy of Ubisoft Montreal. Corporate Overview. Safe Harbor Statement.
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Assassin's Creed, image courtesy of Ubisoft Montreal Corporate Overview
Safe Harbor Statement During the course of this presentation, we may make forward-looking statements regarding future events and the expected performance of the Company. We wish to caution you that such statements reflect our best judgment based on factors currently known to us and that actual events or results could differ materially. For important factors that may cause actual results to differ from those contained in our forward-looking statements, we would like to refer you to the documents we file from time to time with the SEC and specifically our Form 10K filed on June 4, 2007 and 10Q filed on August 31, 2007. We do not assume any obligation to update any forward looking statements we make to reflect events that occur or circumstances that exist after the date of this presentation.
World’s Leading 2D and 3D Design Software Company Unparalleled Global Presence: • Portfolio of markets and industries • Geographically diversified revenue stream • From small business to enterprise customers • Over 8 million seats have been registered globally • Unsurpassed Channel: • 1,700 Partners with 7,500 Feet on the Street • 4,500 Instructors • 2,700 Development Partners
Diversified Industry Revenues Media 12% Manufacturing 31% Infrastructure 21% Building 36%
Diversified Global Revenues Asia Pacific 23% United States 34% EMEA 37% Other Americas 6%
Outstanding Financial Position A 25-year history of financial success: • Fiscal 2007 net revenue was $1.84 billion • $11 billion market cap • Cash and equivalents of $827 million • No debt
Our Customer’s World is ChangingSeeking Differentiation through Design Innovation • Globalization • Global building and infrastructure boom • Sustainability and rising energy costs • Digital life
Enabling Design Innovation Autodesk solutions allow customers to experience designs before they are real through digital prototyping
Benefits include: Greater innovation Competitive advantage Reduced waste and errors Faster time to market Reduced cost and number of physical prototypes Digital Prototyping Provides Competitive Advantage
Manufacturing Market Growth Trends Manufacturing Customers Need • Product innovation • Time-to-market • Cost reduction
AEC Market Growth Trends The Companyto Deliver • Industrialization • Urbanization • Globalization • Sustainability and scarcity of resources • Managing complex infrastructure systems • Redefining design and delivery
Media & Entertainment Market Growth Trends • High impact content • Mainstream hardware • Evolution of games • Access to talent • Digital prototyping
Key Trends Driving Our Business • New seats still represent ~2/3 revenue • 2D growth remains strong • 3D revenue is growing • Emerging economies provide significant opportunity • Subscription continues to gain traction
New Business Drives Revenue Growth New Seats & Emerging Business Subscription Upgrades
2D and 3DAddressing multiple markets DigitalPrototyping Revit Inventor Civil 3D Vertical Solutions Increasing value to customer AutoCAD Architecture MEP AutoCAD Mechanical Electrical AutoCAD Land Desktop 2D 2D AutoCAD Manufacturing Building Infrastructure AutoCAD LT
Strong Growth in 2D 1,200 1,000 Vertical Solutions 800 Revenue in $ Millions 600 AutoCAD 400 AutoCAD LT 200 0 FY04 FY05 FY06 FY07
Total 3D Revenue: Accelerating22% of FY07 total revenue 400 AEC – Revit and Civil 3d 300 200 ($ in Millions) MSD - Inventor 100 0 FY04 FY05 FY06 FY07
100 90 80 70 60 50 40 30 20 10 0 3D Penetration:Biggest opportunity still to come % penetration of installed base 1,000 750 (3D Units in 000’s) 500 250 0 1/31/04 1/31/05 1/31/06 1/31/07
300 250 APAC 200 150 ($ in Millions) EMEA 100 50 AMER 0 FY04 FY05 FY06 FY07 Emerging Markets Accelerate Growth
Industry Leading Revenue Linearity 2007 Benefits of Revenue Linearity: • Predictability • DSO improvement • Sales discipline • Operation efficiency 2006 2005 Cumulative Revenue ($M) 2004 2003
Operating Margin Remains Strong 25% 19% Stock option expense
Strong EPS Growth Rate $1.53 $1.19 Stock option expense
Guidance Summary Q4 FY 2008 • Revenue $575M - $585M • Non-GAAP EPS $0.52 - $0.54 • GAAP EPS $0.42 - $0.44 FY 2008 • Revenue $2.148B - $2.158B • Non-GAAP EPS $1.89 - $1.91 • GAAP EPS $1.50 - $1.52 Q1 FY 2009 • Revenue $575M - $585M • Non-GAAP EPS $0.50 - $0.52 • GAAP EPS $0.42 - $0.44 FY 2009 • Revenue $2.425B - $2.1475B • Non-GAAP EPS $1.84 - $1.90 • GAAP EPS $2.20 - $2.26 Long Term Goal • 15% CAGR Revenue
Customer SuccessPharmadule Emtunga Challenge: To produce offshore living quarters. The 44 cabin project was vastly complex, requiring the coordination of all necessary piping, electrical, instrumentation, fire and gas, HVAC and fire fighting systems. Why Autodesk: “AutoCAD was a natural choice. I’ve had experience with other CAD platforms where it takes new users months to become productive, if ever. That’s not the case with AutoCAD.” —Jimmy Bergmark CAD Manager “We needed best-in-class tools at every stage of the design process to make sure all the pieces of the project came together seamlessly.” —Jimmy Bergmark CAD Manager Results: • Saved time and money. Early detection of design conflicts prevents later resource expenditure. • Reduced new-user downtime. For this team, AutoCAD 2006 is the most intuitive and user-friendly CAD platform on the market.
Customer Success Skidmore, Owings & Merrill LLP Challenge: Design one of the tallest buildings in the world on the most significant site on a fast-track schedule while applying the latest advances in construction technology and the highest quality standards. Why Autodesk: “We chose Autodesk Revit Building for the Freedom Tower because we believe building information modeling will enable us to design and construct a better building for our client.” —Carl Galioto, FAIA Partner “The complexity of a project like the Freedom Tower cannot be overestimated. Revit is empowering us to comprehend the building more fully, earlier in the design process than we were able to before.” —James Vandezande, AIA Associate, CAD Manager • Results: • Open information project • Advanced knowledge of design constructability • Integrated delivery • Reduced errors & waste • Enhanced team communication
Customer SuccessGrontmij Netherlands BV Challenge: • Company faced strong competition on projects • Operating at razor thin margins to stay competitive • Traditional design software slows progress on projects Why Autodesk: • Flexibility to create many design alternatives—not just one or two • Reduce risk associated with design changes “We can do our work so much faster. In the past, these questions required more than a week of work to answer, but now we are finished in a few hours.” —Dirk Talsma, Civil Engineering Results: • Completed design tasks in hours instead of weeks—ten times faster • Extended the useful life of an important waste facility • Beat the competition with innovative technology
Customer SuccessSitios & Formas Challenge: • Firm has many design needs • Roads, pipes, parcels, volumes, roundabouts • Existing software slows progress Why Autodesk: • Enables faster changes • Provides more design alternatives • Enables smarter choices “Our work was more thorough, not just faster. You usually lose thoroughness with speed, but not with Civil 3D.” — Flavio Branco, Civil Engineer Results: • Increased project profitability due to reduced design time • Recouped training costs ahead of schedule • Completed sophisticated traffic circle design
Customer SuccessTelekom Serbia Challenge: • Integration of geospatial data • Need to improve customerservice Why Autodesk: • Enables more cost-effective asset analysis and management • Provides seamless integration with Oracle “It used to take 40 days to complete work orders for new telecommunications lines. Now it takes only two days. Autodesk and Oracle solutions gave us the capabilities we needed to become a more dynamic and efficient company.” — Radovan Cvetkovic, Chief Information Officer Results: • Reduced operational costs and staffing requirements • Dramatically improved productivity, reducing time to complete new line work orders by 95% (from 40 days to 2) • improved customer satisfaction
Customer SuccessHytrol Conveyor Company Inc. Challenge: Implement a real time engineer to order solution for distributed sales force to increase sales volumes and market share. “Autodesk Consulting helped us to really look at, and understand, our business processes before we started implementing software. They thought of things we hadn’t considered—they’ve given us good direction.” “The Autodesk mantra is about service—that means a lot to us. We know Autodesk is listening, because we can see how they incorporate our feedback into new products.” George Williams Manager of Engineering, Hytrol Conveyor Company Why Autodesk: • Autodesk Inventor • Supports data re-use downstream AutoCAD Mechanical & ERP • Autodesk Intent • Tight integration with Inventor • ERP vendors could not deliver engineering configuration solution • Autodesk Vault • Engineering data management • Autodesk Streamline and DWF • Publish technical drawing to 80 distributors, over 600 people for customer site installation • Delivered Strategic Business Consulting engagement Results: • Sales cycles & engineering time will be reduced by automating re-design for each order. • Will enable automated production of BOM and spare parts lists. • “Order management” bottleneck in engineering will be reduced.
Customer SuccessDavid Laurent Challenge: Leverage technology advances to take on bigger and more complex projects. Implement data management process that enables team to work simultaneously and collaboratively on projects “If we had to make the choice again for a 3D solution, I think there is not one member of our staff that would question the choice of Autodesk Inventor Professional.” “Because we are a small company we do not want to have a big complex PDM software to manage our design data, we do not need that complexity or cost. The Autodesk Vault is perfect for us, and now saves us time and prevents loss of data.” Eric Rolland Lead Designer, David Laurent SARL Why Autodesk: • Autodesk Inventor Professional • Supports cross functional team collaboration on large projects • Easy transition from 2D to 3D • Powerful automation with tube & pipe design • Best AutoCAD compatibility • Handles extremely large assemblies & can visualize entire model • Autodesk Vault • Increases security of data • Autodesk DWF • Improves client communications Results: • Saving 20 to 30% design time on all new projects • Using 3D DWF for design reviews with customers cuts design time, catches errors earlier, saves money • Implemented Vault in under 2 hours • Better concurrent engineering data management
Customer SuccessKone Challenge: Reduce lead times, exceed client expectations though innovation, while improving management of design work-in-progress. “The benefits of Inventor quickly became evident, delivering massive gains in design reviews and customer liaison.” “The Vault is becoming the tool to help us improve project management and provide a foundation for better Product Lifecycle Management”. Brian White Technical Author KONE Escalators Why Autodesk: • Autodesk Inventor • Easy to learn and use, training is not cost prohibitive • Easy communication with clients in building industry through DWG/DWF • Provides best of 2D & 3D plus data management in one package • Autodesk Vault • Provides basic life cycle management • Easy to use and familiar interface aids user confidence Results: • Can show clients existing & planned installations earlier in process. • Clients have confidence KONE can meet their requirements. • Structured file management with Vault improves process efficiency, protects good data from loss. • Vault reduces network traffic, enables multi-user collaboration, eliminates potential errors.
Customer SuccessMammoth Inc. Challenge: Continuously find ways to reduce costs, improve efficiency, and bring more innovative products to market faster. “Autodesk always has the lead in the marketplace for CAD and there are so many users out there. AutoCAD users can migrate to Autodesk Inventor very easily.” Matt McFarland Senior Designer, Mammoth Inc. “AutoCAD Electrical is very flexible and easy to use. The fact that it doesn’t limit us is a major advantage.” David Pedersen, Electrical Engineer, Mammoth, Inc. Why Autodesk: • Autodesk Inventor Professional • Proven to handle large assemblies of 10,000 parts • Powerful, integrated sheet metal tools • Tube & pipe design automation • Easy to learn and use • Best value • Autodesk is the industry leader with a huge user population • AutoCAD Electrical • Open and flexible compared to competitive offerings • Easy to create custom reports Results: • Costs reduced up to $9,000 / project. • Reduced time spent on piping by 40%. • Improved communication with customers & shop floor. • Reduced time spent running reports for electrical design drawings dramatically.
Customer SuccessDouble Negative Challenge: Double Negative was tasked with delivering some of the most challenging CG shots for Columbia Pictures The Da Vinci Code Why Autodesk: • Autodesk Maya • Pre-vis for extensive shots • Seamlessly blend live-action with CG • Easy trasfer of CG assets to compositing environment • Industry-leading toolset “In The Da Vinci Code, the reveal of Mary's sarcophagus is a good example where Autodesk Maya became the backbone of a shot. The shot was first pre-visualized in Maya. Camera movement was then programmed onto a motion control green screen plate of the sarcophagus, using Maya. Maya was also used to pre-visualize the Newton’s tomb sequence.” Jesper KjolsrudCG supervisor, Double Negative Results: • 80 shots built for Da Vinci Code • Scenes created that could not have been built without Maya • Enormous time savings from pre-vis to finished shots through use of Maya throughout
Customer SuccessMidway Games Challenge: To create a next-gen action game that stands out from the numerous titles competing for blockbuster status. Stranglehold is based on John Woo’s action movie Hard Boiled. The extensive range of movements of Chow-Yun Fat’s character Tequila necessitated a digital scan of the actor which could be modelled accurately in 3D. Why Autodesk: Stranglehold’s characters were modeled in Autodesk Maya and Autodesk 3ds Max, rigged in Maya, then animated in Autodesk Motion Builder. The Autodesk 3D product portfolio allowed Midway to utilize a range of tools that integrated well within their product pipeline and produced stunning results. “The way Tequila moves is one of the things that make Stranglehold stand apart from other next-generation games. In the movie, Tequila is known for performing aerobatic moves while he’s firing his guns. To generate all the Tequila moves, we had to create about 10 times the amount of motion you’d create for a typical third-person shooter.” Brian Eddy, Project leader/director Midway Games • Results: • The game features a photorealistic CG version of the actor complete with his signature fight moves • Multiple versions of every object in the game were created so that every one of the hundreds of objects in the game’s eight expansive levels is destructible. • Final result: A hot action sequel highly anticipated by the gaming community
Customer Success Tecnologico de Monterrey Challenge: To develop a collaborative design project in one semester Results: • By using Autodesk solutions, a small group of students: • Completed a basic design for a stadium in only six weeks • Completed presentation material in only four weeks • Impressed established architects, local politicians, and business leaders. Why Autodesk: “Initially, we created a preliminary master plan in AutoCAD. Each of us then worked on a specific portion of the complex in AutoCAD. By pasting the pieces to the original coordinates in AutoCAD, we brought the design together. The individual design files fit together immediately and exactly.” —Pablo MartinezStudent “AutoCAD is an essential platform for design. Being able to use AutoCAD so proficiently has definitely helped all of us in our careers.” —Enrique Yanez AlvaradoStudent
Investors Correlate ADSK Share Price Performance with the U.S. Homebuilding Industry Relative Share Price Performance 120% ADSK 100% 80% XHB S&PHomebuilding Index 60% Weekly share prices from inception of XHB 2/06-4/07
Revenue Performance Does NOT Correlate ADSK 140% Relative Revenue Performance 130% 120% XHB S&PHomebuilding Index 110% 100% Quarterly revenue over last 2 years