SAP Systems Integration AG
SAP Systems Integr. AG english
SAP SI increases earnings considerably and reduces revenue target
Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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SAP SI increases earnings considerably and reduces revenue target
Dresden, April 29, 2003. SAP Systems Integration AG (SAP SI) increased earnings
considerably in the first quarter of 2003. The consolidated earnings before
interest and tax (EBIT) went up by 35.7 percent over the same quarter the
previous year to 7.7 million euros (previous year: 5.6 million euros). This
corresponds to an EBIT margin of 11.8 percent (previous year: 7.6 percent).
Earnings per share were 50 percent higher than in same quarter the previous year
at 0.15 euros. Revenues were down 12.9 percent to 64.8 million euros due to the
economic situation and currency translation (previous year: 74.4 million
euros).
Since it is still impossible to forecast economic and political developments and
since willingness to invest continues to be low on the IT market, the company
has changed its revenue target for 2003. SAP SI no longer expects to generate
organic revenue growth in fiscal 2003. The assumption to date had been revenue
growth in the low single-digit percentage range. However, partly in view of the
cost-cutting measures taken in recent quarters, the company continues to assume
that the profitability target (EBIT margin of 12 percent to 14 percent) will be
reached and that profitability will therefore be improved substantially over the
previous year. SAP SI meets a definite reluctance to invest, particularly in
the German core market. The company is not expecting a major improvement in the
situation in the second half of the year any more either. A further increase in
profitability therefore continues to have top priority for SAP SI.
Further information:
On April 29, 2003, at 8:00 am SAP SI will publish a press release on the
quarterly results. It will be available under
http://www.sap-si.com/press/press_releases/
Additional information can be obtained by phone:
Stephan Kahlhöfer, SAP SI AG, +49 6257 95-2525
Please direct your e-mails to: investor@sap-si.com
end of ad-hoc-announcement (c)DGAP 29.04.2003
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WKN: 501111; ISIN: DE0005011118; Index: TecDAX, NEMAX 50
Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin-
Bremen, Düsseldorf, Hamburg, Hannover, München, Stuttgart
290749 Apr 03
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