LETTER TO THE SHAREHOLDERS
GROWTH THROUGH INNOVATION
Dear shareholders, customers, partners, and colleagues,
SAP experienced an outstandingly dynamic year in 2007. We introduced an entirely new solution for small businesses and midsize companies and carried out the largest acquisition in our history. As these two milestones illustrate, we are moving forward and setting the course for the future. At the same time, our innovations in our product and business models successfully enhanced our core business, enabling us to achieve excellent results for the year: SAP generated revenue in excess of €10 billion for the first time. On a constant currency basis, our growth was the strongest for seven years, with an operating margin at the upper limit of our guidance. With 8,100 new customers, we increased our market share by another four percentage points.
So was it a successful year all round? Unfortunately not. As an SAP shareholder, you cannot be satisfied with the development of our share price. Neither are we. Nevertheless, you invested in SAP or decided to hold true to your investment. For that, I would like to thank you on behalf of the SAP Executive Board and our employees. We strongly believe that you have made a good decision. We also believe that we, too, have made good decisions that justify the trust you have shown in us.
» Secure Innovations for our Customers
» Further Growth Opportunities
