(Reuters) – French software provider Dassault Systemes on Friday forecast a doubling of its earnings per share (EPS) by 2028, and announced a new CEO.

Dassault said it plans to reach non-IFRS EPS between 2.20 euros and 2.40 euros by 2028, roughly double the 1.13 euros it posted for the full year of 2022.

The group is implementing its Horizon 2040 strategy, and like many software providers is shifting from a model based on licenses, whereby clients pay for software up front, to a subscription model.

Proponents say subscription models give companies a more predictable revenue stream, which helps planning and managing costs.

“Dassault Systèmes will increase its addressable markets from €100 billion today to €1 trillion by 2040,” the company said in a statement.

The company, which supplies software to automakers, airplane manufacturers and industrial clients, also announced that its deputy Chief Executive Pascal Daloz will become its new CEO as of Jan. 1, 2024.

He will replace Bernard Charlès, who will continue as chairman.