Dassault Systèmes announced on Friday that it plans to appoint a new CEO for 2024 and to double its earnings per share (EPS) by 2028, a target slightly below market expectations.

The Group expects non-IFRS EPS of between 2.20 euros and 2.40 euros by 2028, twice as much as in 2022, when it stood at 1.13 euros, while analysts were on average expecting EPS of 2.40 euros.

"(The target) is a little low. Given the share price trend prior to the statements, we wouldn't be surprised by any profit-taking," Jefferies analysts said in a note.

Dassault Systèmes' share price was down 2.13% at 8:27 GMT on the Paris Bourse.

On Friday, the French software manufacturer will present its strategy for the next five years as part of its investor day, as well as its new horizon to 2040.

Like many software suppliers, it is moving from a model centered on license distribution, where customers pay for software in advance, to a subscription model, where payments are made at regular intervals.

Proponents of this model claim that it provides companies with a more predictable revenue stream, making it easier to plan and manage costs.

"Dassault Systèmes should thus increase its addressable markets from 100 billion euros today to 1,000 billion euros in 2040," said Pascal Daloz, the group's deputy CEO, in a statement.

Daloz will be appointed CEO on January 1, 2024, announced the company, which supplies software to automakers, aircraft manufacturers and industrial customers.

He will replace Bernard Charlès, who will retain his position as Chairman of the Board of Directors. (Reported by Olivier Sorgho and Augustin Turpin; French version by Victor Goury-Laffont and Corentin Chappron, edited by Kate Entringer)