SAP AG / Key word(s): Final Results/Preliminary Results
13.01.2012 14:47
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.
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- Record Software Revenue: Fourth Quarter 2011 Software Revenue Increases
16% to EUR1.74 Billion (17% at Constant Currencies); Full-Year 2011
Software Revenue Increases 22% to EUR3.97 Billion (25% at Constant
Currencies)
- Exceeding Revenue Guidance: Full-Year 2011 Non-IFRS Software and
Software-Related Service Revenue Increases 15% (17% at Constant
Currencies)
- Exceeding Operating Profit Guidance: Full-Year 2011 Non-IFRS Operating
Profit EUR4.71 Billion (EUR4.78 Billion at Constant Currencies)
- Strong Margin Growth: Expanding Full-Year 2011 Non-IFRS Operating
Margin by 1.1 Percentage Points at Constant Currencies to 33.1%
- Exceeding Company Expectations for SAP HANA and Mobile: More Than
EUR160 Million in Software Revenue From SAP HANA and More Than EUR100
Million in Software Revenue From Mobile Solutions in Full-Year 2011
WALLDORF, Germany - January 13, 2012 - After a preliminary review of its
2011 fourth quarter performance, SAP AG (NYSE: SAP) today announced its
best ever full-year and fourth quarter performance.
SAP's record performance was driven by outstanding growth in its core
applications business, strong momentum for analytics and mobile solutions
and accelerated growth for SAP's breakthrough technology SAP HANA. With
double-digit growth SAP outperformed the competition and gained significant
market share.
SAP significantly exceeded its EUR100 million 2011 target for SAP HANA
achieving software revenue of more than EUR160 million. SAP also exceeded
its EUR100 million 2011 target for mobile solutions, which contributed more
than EUR100 million in software revenue.
FINANCIAL RESULTS IN DETAIL
All 2011 figures in this release are approximate due to the preliminary
nature of the announcement.
Fourth Quarter 2011
- IFRS software revenue was EUR1.74 billion (2010: EUR1.51 billion), an
increase of 16% (17% at constant currencies).
- IFRS software and software-related service revenue was EUR3.72 billion
(2010: EUR3.27 billion), an increase of 14%. Non-IFRS software and
software-related service revenue was EUR3.72 billion (2010: EUR3.31
billion), an increase of 12% (13% at constant currencies).
- IFRS total revenue was EUR4.50 billion (2010: EUR4.06 billion), an
increase of 11%. Non-IFRS total revenue was EUR4.50 billion (2010:
EUR4.10 billion), an increase of 10% (10% at constant currencies).
- IFRS operating profit was EUR1.67 billion (2010: EUR0.54 billion), an
increase of 206%. Non-IFRS operating profit was EUR1.78 billion (2010:
EUR1.62 billion), an increase of 10% (10% at constant currencies).
- IFRS operating margin was 37.0% (2010: 13.4%), an increase of 23.6
percentage points. Non-IFRS operating margin was 39.6% (2010: 39.6%),
or 39.7% at constant currencies, an increase of 0.1 percentage points
at constant currencies.
- Fourth quarter 2011 operating profit and operating margin were impacted
by SAP's continued investments in go-to-market activities intended to
capture future growth opportunities, resulting in a sequential increase
in headcount in sales and marketing by almost 500 full-time-equivalents
(FTEs). Total headcount for the Group grew in the fourth quarter by
almost 1,200 FTEs compared to the previous quarter.
Fourth quarter 2011 non-IFRS operating profit excludes a deferred support
revenue write-down from acquisitions of EUR1 million, acquisition-related
charges of EUR115 million, profit from discontinued activities of EUR6
million, share-based compensation expenses of EUR3 million and
restructuring expenses of EUR2 million (2010: EUR38 million, EUR99 million,
expenses of EUR935 million, EUR9 million and -EUR2 million).
Full-Year 2011
- IFRS software revenue was EUR3.97 billion (2010: EUR3.27 billion), an
increase of 22% (25% at constant currencies).
- IFRS software and software-related service revenue was EUR11.32 billion
(2010: EUR9.79 billion), an increase of 16%. Non-IFRS software and
software-related service revenue was EUR11.35 billion (2010: EUR9.87
billion), an increase of 15% (17% at constant currencies). Our latest
non-IFRS software and software-related service revenue guidance was the
high end of the 10% â 14% range at constant currencies.
- IFRS total revenue was EUR14.23 billion (2010: EUR12.46 billion), an
increase of 14%. Non-IFRS total revenue was EUR14.26 billion (2010:
EUR12.54 billion), an increase of 14% (15% at constant currencies).
- IFRS operating profit was EUR4.88 billion (2010: EUR2.59 billion), an
increase of 88%. Non-IFRS operating profit was EUR4.71 billion (2010:
EUR4.01 billion), an increase of 18% (19% at constant currencies). Our
latest non-IFRS operating profit guidance was the high end of the
EUR4.45 â EUR4.65 billion range at constant currencies. Full-year IFRS
profit and margin numbers were favorably impacted by the re-measurement
of the TomorrowNow litigation provision while there was no such effect
on SAP's non-IFRS profit and margins.
- IFRS operating margin was 34.3% (2010: 20.8%), an increase of 13.5
percentage points. Non-IFRS operating margin was 33.0% (2010: 32.0%),
or 33.1% at constant currencies, an increase of 1.0 percentage points
(1.1 percentage points at constant currencies). Our latest operating
profit guidance resulted in an expected non-IFRS operating margin
increase in a range of 0.5 - 1.0 percentage points at constant
currencies.
Full-year 2011 non-IFRS operating profit excludes a deferred support
revenue write-down from acquisitions of EUR27 million, acquisition-related
charges of EUR448 million, profit from discontinued activities of EUR717
million, share-based compensation expenses of EUR69 million and
restructuring expenses of EUR4 million (2010: EUR74 million, EUR304
million, expenses of EUR983 million, EUR58 million and -EUR3 million).
SAP will provide further details of its fourth quarter and full-year 2011
results as well as its outlook for the full-year 2012 on January 25th.
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Information and Explaination of the Issuer to this News:
Full-year 2011 revenue, profit and cash flow figures include the revenue,
profits and cash flows from Sybase. For the prior-year periods those
numbers were only included since the acquisition (July 26, 2010).
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).
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 176,000 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.
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.
For more information, financial community only:
Stefan Gruber +49 (6227) 7-44872 investor@sap.com, CET
Follow SAP Investor Relations on Twitter at @sapinvestor.
13.01.2012 DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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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
End of Announcement DGAP News-Service
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DGAP-Adhoc: SAP AG: SAP Reports Best Ever Full-Year and Fourth Quarter - Full-Year 2011 Software Revenue Increases 25% At Constant Currencies to EUR 4 Billion
| Source: EQS Group AG