Maintenance revenue climbs again
Maintenance again achieved the strongest revenue growth of all categories in 2003. Maintenance revenue increased 6% to €2,569 million. That growth offset the decline in software revenue and, despite the adverse currency effects, product (that is, software and maintenance) revenue edged slightly ahead, from €4,714 million in 2002 to €4,717 million in 2003. On a constant currency basis, the growth of product revenue was clearer at 8% in 2003.

Service revenues falter
Consulting revenue and training revenue declined in 2003. The Company’s consulting service focused more on growing profitability than increasing revenue and accordingly cut the external consulting resources it deployed. For this and other reasons, SAP’s consulting revenue declined 11% to €1,954 million, or 4% on a constant currency basis. Even more than in the previous year, customers responded to adverse conditions by cutting employee training budgets. The trend toward alternative training methods and changes in SAP’s training infrastructure also had an impact. SAP’s 2003 training revenue was €299 million, 28% less than in 2002. On a constant currency basis, training revenue declined 21%. Overall, service (that is, consulting and training) revenue declined 14% to €2,253 million, or 7% on a constant currency basis.