029 Group SE

Earnings Release • Apr 29, 2003

News Details

Ad-hoc | 29 April 2003 07:49

SAP Systems Integr. AG english

SAP SI increases earnings considerably and reduces revenue target Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– SAP SI increases earnings considerably and reduces revenue target Dresden, April 29, 2003. SAP Systems Integration AG (SAP SI) increased earnings considerably in the first quarter of 2003. The consolidated earnings before interest and tax (EBIT) went up by 35.7 percent over the same quarter the previous year to 7.7 million euros (previous year: 5.6 million euros). This corresponds to an EBIT margin of 11.8 percent (previous year: 7.6 percent). Earnings per share were 50 percent higher than in same quarter the previous year at 0.15 euros. Revenues were down 12.9 percent to 64.8 million euros due to the economic situation and currency translation (previous year: 74.4 million euros). Since it is still impossible to forecast economic and political developments and since willingness to invest continues to be low on the IT market, the company has changed its revenue target for 2003. SAP SI no longer expects to generate organic revenue growth in fiscal 2003. The assumption to date had been revenue growth in the low single-digit percentage range. However, partly in view of the cost-cutting measures taken in recent quarters, the company continues to assume that the profitability target (EBIT margin of 12 percent to 14 percent) will be reached and that profitability will therefore be improved substantially over the previous year. SAP SI meets a definite reluctance to invest, particularly in the German core market. The company is not expecting a major improvement in the situation in the second half of the year any more either. A further increase in profitability therefore continues to have top priority for SAP SI. Further information: On April 29, 2003, at 8:00 am SAP SI will publish a press release on the quarterly results. It will be available under http://www.sap-si.com/press/press_releases/ Additional information can be obtained by phone: Stephan Kahlhöfer, SAP SI AG, +49 6257 95-2525 Please direct your e-mails to: investor@sap-si.com end of ad-hoc-announcement (c)DGAP 29.04.2003 ——————————————————————————– WKN: 501111; ISIN: DE0005011118; Index: TecDAX, NEMAX 50 Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin- Bremen, Düsseldorf, Hamburg, Hannover, München, Stuttgart 290749 Apr 03