SAP Announces First Quarter 2009 Results

Strong Margin Performance Despite Decrease in Revenues

WALLDORF, Germany, April 29 /PRNewswire-FirstCall/ -- SAP AG (NYSE: SAP) today announced its preliminary financial results for the first quarter ended March 31, 2009.

FINANCIAL HIGHLIGHTS - First Quarter 2009

                                        SAP - First Quarter 2009*
                                   U.S. GAAP            Non-GAAP**
    Euro million, unless      Q1/     Q1/     %      Q1/   Q1/    %      %
     otherwise stated        2009    2008   change  2009   2008 change change
                                                                       cons-
                                                                        tant
                                                                       curr-
                                                                        ency
                                                                        ***
    Software
     revenues                  418    622    -33    418    622    -33    -34
    Software and             1,741  1,736      0  1,753  1,783     -2     -4
    software-related service
     revenues
    Total revenues           2,397  2,460     -3  2,409  2,507     -4     -6
    Total                    2,065  2,101     -2  1,999  2,018     -1     -3
     operating
     expenses
    - Thereof                  160      -      -    160      -      -      -
     restructu-
      ring charges
    Operating                  332    359     -8    410    489    -16    -17
     income
    Operating                 13.9   14.6 -0.7pp   17.0   19.5 -2.5pp -2.3pp
     margin %
    Income from                210    247    -15    267    345    -23      -
     continuing
     operations
    Net income                 204    242    -16    262    340    -23      -
    Basic EPS from            0.18   0.21    -14   0.22   0.29    -24      -
     cont.
     operations in
       euro

    *All figures are preliminary and unaudited.

    ** Revenue line items are adjusted for the Business Objects support
      revenue that Business Objects would have recognized had it remained a
      standalone entity but that SAP is not permitted to recognize as
      revenue under U.S. GAAP as a result of business combination
      accounting rules. Adjustments in the operating expense line items are
      for acquisition-related charges. See Explanation of Non-GAAP Measures
      at the end of the financial section of the press release for
      explanations of the Non-GAAP measures used in this press release and
      for related reconciliations to U.S. GAAP.

    *** Constant currency Non-GAAP revenue and operating income figures
      are calculated by translating Non-GAAP revenue and Non-GAAP operating
      income of the current period using the average exchange rates from
      the previous year's respective period instead of the current period.
      Constant currency period-over-period changes are calculated by
      comparing the current year's Non-GAAP constant currency numbers with
      the Non-GAAP number of the previous year's respective period. See
      Explanation of Non-GAAP Measures at the end of the financial section
      of the press release for details.

Revenues - First Quarter 2009

    --  U.S. GAAP software and software-related service revenues were euro 1.74
        billion (2008: euro 1.74 billion), flat year-over-year.  Non-GAAP
        software and software-related service revenues were euro 1.75 billion
        (2008: euro 1.78 billion), a decrease of 2% (4% at constant currencies).
    --  U.S. GAAP total revenues were euro 2.40 billion (2008: euro 2.46
        billion), a decrease of 3%.   Non-GAAP  total  revenues  were  euro  2.41
                billion  (2008:  euro  2.51  billion),  a  decrease  of  4%  (6%  at  constant
                currencies).
 
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