029 Group SE

Earnings Release • Jul 16, 2002

News Details

Ad-hoc | 16 July 2002 07:57

SAP Systems Integr. AG english

SAP SI scales down growth forecasts Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Dresden, Germany, July 16, 2002. In the first half of fiscal 2002, SAP Systems Integration AG (SAP SI) posted sales (tentative figures) of 146 million euros, an increase of around 16 percent over the same period of last year, despite a tough economic climate. The company expects to record an operating profit for the first six months of approximately 6 million euros, following 19.9 million euros in first half of 2001. The fall in earnings is chiefly attributable to the low level of capacity utilization among consultants, and to exceptional charges, totaling 8 million euros, incurred for the restructuring program and provisions against bad debt. If exceptional items are excluded, the company would have recorded an operating profit of approximately 14 million euros and an operating profit margin of some 9.5 percent. In light of the poor economic outlook for the second half of fiscal 2002, and the corresponding likelihood of low demand for IT services and increased pressure on prices, SAP SI now expects growth in revenue for the year (as of December 31) of between 9 and 12 percent. At the beginning of the year, the company had forecast an increase in sales of 15 and 20 percent. Operating profit margin for the full fiscal year is projected to be between 9 and 12 percent. Previously, the company had forecast a margin of 15 to 17 percent. Further information: The full interim report for the first half of 2002 will be published as scheduled on July 30, 2002. Should you have any questions with regard to the above statement, please contact SAP SI Investor Relations, Tel. +49 (0)6257 952525, e-mail: investor@sap-si.com. end of ad-hoc-announcement (c)DGAP 16.07.2002 ——————————————————————————– WKN: 501 111; ISIN: DE0005011118; Index: Nemax 50 Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, Hannover, München, Stuttgart 160757 Jul 02