SAP SE

Earnings Release • Oct 17, 2002

News Details

Ad-hoc | 17 October 2002 06:59

SAP AG english

SAP Reports 2002 Third Quarter Operating Margin Improved Significantly Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– SAP Reports 2002 Third Quarter Operating Margin Improved Significantly WALLDORF- October 17, 2002 — SAP AG (NYSE: SAP) today announced its financial results for the third quarter ended September 30, 2002. Operating income for the third quarter of 2002 increased significantly to EUR 336 million (2001: EUR 159 million). Third quarter operating income, before charges for stock-based compensation programs and acquisition related costs, improved from the previous year to EUR 316 million (2001: EUR 201 million). The third quarter operating margin, before stock based compensation and acquisition related charges, increased to 19% (2001: 12%). Sales improved slightly in the third quarter compared to the same period last year to EUR 1.7 billion (2001: EUR 1.65 billion). License revenues were EUR 435 million (2001: EUR 447 million). Net income for the third quarter of 2002 was EUR 202 million (2001: EUR 37 million), or EUR 0.65 per share (2001: EUR 0.12 per share). Excluding extraordinary gains, acquisition charges and other impairment costs of minority investments (including Commerce One), net income for the third quarter of 2002 was EUR 228 million (2001: EUR 86 million), or EUR 0.73 per share (2001: EUR 0.27 per share). The Company has been committed to reducing costs and to allocating resources to match the longer term IT spending patterns of its customers. Thus far, the Company has met with success in its cost reduction and efficiency improvement program. Additionally, the sales pipeline remains strong and the Company expects that it will continue to gain market share. On the other hand the overall political and economic environment is currently unpredictable and it is difficult to forecast revenues. As a result, the Company removed its previous revenue guidance for 2002 and is not providing additional revenue guidance at this time. However, SAP expects its operating margin, excluding stock-based compensation and acquisition related charges, to improve at least one percentage point over the 20% achieved in 2001 even if 2002 revenues remain relatively flat compared to 2001 revenues. end of ad-hoc-announcement (c)DGAP 17.10.2002 ——————————————————————————– WKN: 716460; ISIN: DE0007164600; Index: DAX Listed: Amtlicher Markt in Berlin, Frankfurt, Stuttgart, Freiverkehr in Bremen, Düsseldorf, Hamburg, Hannover, München; EUREX; Swiss Exchange; London; NYSE 170659 Okt 02