SAP reports 23% revenue growth for the first nine months
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SAP AG financial results for the third quarter and nine months ended 30 September, show sales increased 23% over 2000 to $4.5 billion ($3.7bn). In the third quarter of 2001, revenues rose 16% over the same period last year to $1.48 billion ($1.67bn).

Operating income, before charges for stock-based compensation programs and acquisition related charges, were flat at $181 million. Operating margin, excluding stock-based compensation and acquisition related charges, was 12% (14%).

Earnings before interest, taxes, depreciation and amortisation improved by 18% to $211 million ($180m). Net income for 3Q, adjusted for TopTier acquisition costs and the Commerce One impact, was $70 million ($79m).

"Recently we have seen significant changes in the software market, mainly in the US, with customers and prospects postponing decisions on purchases," said CEO Hasso Plattner. "However, companies remain committed to investing in the most cost-effective solutions available."

In the quarter, EMEA revenues increased 32% to $757 million ($575m) and in the Asia-Pacific region, revenues were down 6% to $175 million ($187m).

Revenues in the Americas region rose 7% to $551 million ($516m); however, at constant currency rates, revenues in the Americas would have risen 9%.

"We are pleased to have met our guidance for the first nine months of 2001, although we had thought software licence sales for the quarter would be stronger," said Henning Kagermann, co-chairman and CEO of SAP AG. "Consulting and training revenues contributed significantly to our revenue mix, and our regional strength was evident from robust results in Europe."



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