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SAP AG: SAP Announces 2012 First Quarter Preliminary Results


SAP AG / Key word(s): Quarter Results/Preliminary Results
13.04.2012 12:14

Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.


- First Quarter 2012 Non-IFRS Software and Software-Related Service Revenue Increased 12% to EUR2.63 Billion (10% at Constant Currencies)
- First Quarter 2012 Software Revenue Increased 4% to EUR637 Million (1%     at Constant Currencies)

- First Quarter 2012 Non-IFRS Operating Profit Increased 7% to EUR834     Million (3% at Constant Currencies)

  - SAP Reiterates Full Year 2012 Outlook 

- SAP Expects Strong Second Quarter 2012 With Software Revenue Growth in a Range of 15% - 20% (at Constant Currencies) and Non-IFRS Software and Software-Related Service Revenue Growth in a Range of 14% - 16% (at     Constant Currencies)

WALLDORF, Germany - April 13, 2012 - After a preliminary review of its first quarter 2012 performance, SAP AG (NYSE: SAP) today announced its preliminary financial results for the first quarter ended March 31, 2012.
The Company reiterates its full-year outlook. Based on its robust pipeline SAP expects a strong second quarter 2012 with software revenue growth in a range of 15% - 20% at constant currencies and non-IFRS software and software-related service revenue growth in a range of 14% - 16% at constant currencies.

SAP's growth momentum continued in 2012 with a record first quarter in Asia Pacific/Japan (APJ) and double-digit growth in many markets including Latin America and Germany.

The company had sales execution issues in North America which impacted first quarter performance. These issues have been resolved and the necessary steps have been taken to ensure that North America is back on track. After a record fourth quarter 2011, some European markets started more slowly in 2012, but are well on track.

SAP's strategy is sound and the Company is executing on its innovation pipeline ahead of schedule. SAP is well positioned to capitalize on the major technology trends including big data, mobile, and cloud. Its cloud business is gaining momentum with a strong positive impact from SuccessFactors. SAP's and SuccessFactors' cloud portfolio showed robust double-digit growth in billings year-over-year.


FINANCIAL RESULTS IN DETAIL

All 2012 figures in this release are approximate due to the preliminary nature of the announcement.

First Quarter 2012
- IFRS software revenue was EUR0.64 billion (2011: EUR0.62 billion), an     increase of 4% (1% at constant currencies).

- IFRS software and software-related service revenue was EUR2.62 billion (2011: EUR2.33 billion), an increase of 13%. Non-IFRS software and software-related service revenue was EUR2.63 billion (2011: EUR2.34 billion), an increase of 12% (10% at constant currencies).
- IFRS total revenue was EUR3.35 billion (2011: EUR3.02 billion), an increase of 11%. Non-IFRS total revenue was EUR3.36 billion (2011: EUR3.04 billion), an increase of 10% (8% at constant currencies).
- IFRS operating profit was EUR0.63 billion (2011: EUR0.60 billion), an increase of 6%. Non-IFRS operating profit was EUR0.83 billion (2011: EUR0.78 billion), an increase of 7% (3% at constant currencies).
- IFRS operating margin was 18.8% (2011: 19.7%), a decrease of 0.9 percentage points. Non-IFRS operating margin was 24.8% (2011: 25.6%), or 24.6% at constant currencies, a decrease of 0.8 percentage points (a decrease of 1.0 percentage points at constant currencies).
- Total headcount for the Group grew organically in the first quarter by approximately 1,700 FTEs year-over-year in order to capture future growth opportunities. Total headcount for the group at the end of the     first quarter was 59,400.

First quarter 2012 non-IFRS software and software-related service revenue and non-IFRS operating profit excludes a deferred revenue write-down from acquisitions of EUR7 million (2011: EUR17 million). Non-IFRS operating profit additionally excludes acquisition-related charges of EUR120 million, profit from discontinued activities of EUR7 million, share-based compensation expenses of EUR83 million and restructuring expenses of EUR0 million (2011: EUR112 million, expenses of EUR2 million, EUR52 million and EUR0 million).

Regional Performance - First Quarter 2012

- IFRS and non-IFRS software revenue for the EMEA region: EUR279 million, an increase of 4% (increase of 4% at constant currencies).
- IFRS software and software-related service revenue for the EMEA region: EUR1,233 million, an increase of 10%. Non-IFRS software and software-related service revenue: EUR1,234 million, an increase of 9%     (increase of 9% at constant currencies).

- IFRS and non-IFRS software and software-related service revenue for Germany: EUR371 million, an increase of 12% (increase of 12% at     constant currencies).

- IFRS and non-IFRS software revenue for the Americas region: EUR236 million, a decrease of 4% (decrease of 7% at constant currencies).
- IFRS software and software-related service revenue for the Americas region: EUR946 million, an increase of 12%. Non-IFRS software and software-related service revenue: EUR952 million, an increase of 12%     (increase of 8% at constant currencies).

- IFRS software and software-related service revenue for the United States: EUR692 million, an increase of 12%. Non-IFRS software and software-related service revenue: EUR698 million, an increase of 11%     (increase of 6% at constant currencies).

- IFRS and non-IFRS software revenue for the APJ region: EUR123 million, an increase of 19% (increase of 16% at constant currencies).
- IFRS software and software-related service revenue for the APJ region: EUR440 million, an increase of 22%. Non-IFRS software and software-related service revenue: EUR440 million, an increase of 22%     (increase of 16% at constant currencies).

- IFRS software and software-related service revenue for Japan: EUR144 million, an increase of 16%. Non-IFRS software and software-related service revenue: EUR144 million, an increase of 15% (increase of 6% at     constant currencies).

Business Outlook

SAP reiterates the following outlook for the full-year 2012:
- The Company expects full-year 2012 non-IFRS software and software-related service revenue to increase in a range of 10% - 12% at constant currencies (2011: EUR11.35 billion). This includes a contribution of up to 2 percentage points from SuccessFactors'     business.

- The Company expects full-year 2012 non-IFRS operating profit to be in a range of EUR5.05 billion - EUR5.25 billion at constant currencies (2011: EUR4.71 billion). Full-year 2012 non-IFRS operating profit excluding SuccessFactors is expected to be in a similar range.
- The Company projects a full-year 2012 IFRS effective tax rate of 26.5% - 27.5% (2011: 27.9%) and a non-IFRS effective tax rate of 27.0% -     28.0% (2011: 26.6%).

In addition to the full-year outlook, SAP is providing the following outlook for the second quarter 2012:

- The Company expects second quarter 2012 software revenue to increase in a range of 15% - 20% at constant currencies (second quarter 2011:     EUR838 million).

- The Company expects second quarter 2012 non-IFRS software and software-related service revenue to increase in a range of 14% - 16% at constant currencies (second quarter 2011: EUR2.59 billion).
SAP will provide further details of its first quarter 2012 results on April 25th.




Information and Explaination of the Issuer to this News:
Financial Analyst and Media Conference Call

SAP senior management will host a conference call for financial analysts and media today at 2:30 pm (CET) / 1:30 pm (GMT)/ 8:30 am (Eastern) / 5:30 am (Pacific).
 
The participant dial-in details for the call are as follows:  
United Kingdom: +44 (0) 20 7784 1036
United States: +1 646 254 3362
France: +33 (0) 1 70 48 01 66
Germany: +49 (0) 69 2999 3286
 
Passcode: 9884953

A replay of the call will be available for two weeks following the call. Replay numbers can be found below:
 
Germany: +49 (0) 69 2222 2236
United Kingdom: +44 (0) 20 7111 1244
United States: +1 347 366 9565
France: +33 (0) 1 74 20 28 00
 
Replay Passcode: 9884953
 

Additional Information

First quarter 2012 revenue, profit and cash flow figures include the revenue, profits and cash flows from SuccessFactors starting on February 16th, 2012. For the prior-year period those numbers were not included.
For a more detailed description of the non-IFRS adjustments and their limitations as well as our constant currency and free cash flow figures see Explanations of Non-IFRS Measures online (www.sap.com/investor).
For more information, financial community only:
Stefan Gruber +49 (6227) 7-44872 investor@sap.com, CET
Follow SAP Investor Relations on Twitter at @sapinvestor.
For more information, press only:

Christoph Liedtke +49 (6227) 7-50383 christoph.liedtke@sap.com, CET Hubertus Kuelps +49 (6227) 7-40011 hubertus.kuelps@sap.com, CET Jim Dever +1 (610) 661-2161 james.dever@sap.com, ET Lynn Ong +65 6768 6439 lynn.ong@sap.com, SGT (GMT +8)
For customers interested in learning more about SAP products: Global Customer Center:  +49 180 534-34-24
United States Only: 1 (800) 872-1SAP (1-800-872-1727)

About SAP 
As market leader in enterprise application software, SAP (NYSE: SAP) helps companies of all sizes and industries run better. From back office to boardroom, warehouse to storefront, desktop to mobile device - SAP empowers people and organizations to work together more efficiently and use business insight more effectively to stay ahead of the competition. SAP applications and services enable more than 183,000 customers to operate profitably, adapt continuously, and grow sustainably. For more information, visit www.sap.com.

Any statements contained in this document that are not historical facts are forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. Words such as 'anticipate,' 'believe,' 'estimate,' 'expect,' 'forecast,' 'intend,' 'may,' 'plan,' 'project,' 'predict,' 'should' and 'will' and similar expressions as they relate to SAP are intended to identify such forward-looking statements. SAP undertakes no obligation to publicly update or revise any forward-looking statements. All forward-looking statements are subject to various risks and uncertainties that could cause actual results to differ materially from expectations. The factors that could affect SAP's future financial results are discussed more fully in SAP's filings with the U.S. Securities and Exchange Commission ('SEC'), including SAP's most recent Annual Report on Form 20-F filed with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of their dates.

(c) 2012 SAP AG. All rights reserved.
SAP, R/3, SAP NetWeaver, Duet, PartnerEdge, ByDesign, SAP BusinessObjects Explorer, SAP HANA, StreamWork, and other SAP products and services mentioned herein as well as their respective logos are trademarks or registered trademarks of SAP AG in Germany and other countries. Business Objects and the Business Objects logo, BusinessObjects, Crystal Reports, Crystal Decisions, Web Intelligence, Xcelsius, and other Business Objects products and services mentioned herein as well as their respective logos are trademarks or registered trademarks of Business Objects Software Ltd. Business Objects is an SAP company. Sybase and Adaptive Server, iAnywhere, Sybase 365, SQL Anywhere, and other Sybase products and services mentioned herein as well as their respective logos are trademarks or registered trademarks of Sybase, Inc. Sybase is an SAP company. Crossgate, m@gic EDDY, B2B 360 , and B2B 360 Services are registered trademarks of Crossgate AG in Germany and other countries. Crossgate is an SAP company.
All other product and service names mentioned are the trademarks of their respective companies. Data contained in this document serves informational purposes only. National product specifications may vary. These materials are subject to change without notice. These materials are provided by SAP AG and its affiliated companies ('SAP Group') for informational purposes only, without representation or warranty of any kind, and SAP Group shall not be liable for errors or omissions with respect to the materials. The only warranties for SAP Group products and services are those that are set forth in the express warranty statements accompanying such products and services, if any. Nothing herein should be construed as constituting an additional warranty.

Note to editors:
To preview and download broadcast-standard stock footage and press photos digitally, please visit www.sap.com/photos. On this platform, you can find high resolution material for your media channels. To view video stories on diverse topics, visit www.sap-tv.com. From this site, you can embed videos into your own Web pages, share video via e-mail links and subscribe to RSS feeds from SAP TV.

13.04.2012 DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de

 
Language:     English
Company:      SAP AG
              Dietmar-Hopp-Allee 16
              69190 Walldorf
              Germany
Phone:        +49 (0)6227 - 74 74 74
Fax:          +49 (0)6227 - 75 75 75
E-mail:       investor@sap.com
Internet:     www.sap.com
ISIN:         DE0007164600
WKN:          716460
Indices:      DAX
Listed: Regulierter Markt in Berlin, Frankfurt (Prime Standard), Stuttgart; Freiverkehr in Düsseldorf, Hamburg, Hannover,               München; Terminbörse EUREX; NYSE
 
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