Form 6-K

SAP AG

(Registrant)

/s/ Werner Brandt

Name: Dr. Werner Brandt

Title: CFO

0001193125-12-163488.txt : 20120416 0001193125-12-163488.hdr.sgml : 20120416 20120416062653 ACCESSION NUMBER: 0001193125-12-163488 CONFORMED SUBMISSION TYPE: 6-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20120416 FILED AS OF DATE: 20120416 DATE AS OF CHANGE: 20120416 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SAP AG CENTRAL INDEX KEY: 0001000184 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-PREPACKAGED SOFTWARE [7372] IRS NUMBER: 000000000 STATE OF INCORPORATION: 2M FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 6-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-14251 FILM NUMBER: 12759845 BUSINESS ADDRESS: STREET 1: DIETMAR-HOPP-ALLEE 16 CITY: WALLDORF STATE: 2M ZIP: 69190 BUSINESS PHONE: 0114962277 MAIL ADDRESS: STREET 1: DIETMAR-HOPP-ALLEE 16 CITY: WALLDORF STATE: 2M ZIP: 69190 FORMER COMPANY: FORMER CONFORMED NAME: SAP AKTIENGESELLSCHAFT SYSTEMS APPLICATIONS PRODUCTS IN DATA DATE OF NAME CHANGE: 19960807 6-K 1 d334911d6k.htm FORM 6-K Form 6-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16 OF

THE SECURITIES EXCHANGE ACT OF 1934

April 16, 2012

Commission file number:

1-14251

SAP AG

(Exact name of registrant as specified in its charter)

SAP CORPORATION

(Translation of registrant’s name into English)

Dietmar-Hopp-Allee 16

69190 Walldorf

Federal Republic of Germany

(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F þ Form 40-F ¨

Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

Yes ¨ No þ

If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82- .

SAP AG

FORM 6-K

On April 13, 2012, SAP AG, a stock corporation organized under the laws of the Federal Republic of Germany (“SAP”), issued a press release (the “Press Release”) announcing SAP’s preliminary financial results for the first quarter ended March 31, 2012. The Press Release is attached as Exhibit 99.1 hereto and incorporated by reference herein.

This Press Release discloses certain non-IFRS measures. These measures are not prepared in accordance with IFRS and are therefore considered non-IFRS financial measures. The non-IFRS financial measures that we report should be considered in addition to, and not as substitutes for or superior to, revenue, operating income, cash flows, or other measures of financial performance prepared in accordance with IFRS.

Please refer to Explanations of Non-IFRS Measures online (www.sap.com/investor) for further information regarding the non-IFRS measures.

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 (the “SEC”), including SAP’s most recent Annual Report on Form 20-F for 2011 filed with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of their dates.

EXHIBITS


Exhibit No.		Exhibit

99.1		Press Release dated April 13, 2012

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Date: April 16, 2012

EXHIBIT INDEX


Exhibit No.		Exhibit

99.1		Press Release dated April 13, 2012

EX-99.1 2 d334911dex991.htm EXHIBIT 99.1 Exhibit 99.1

SAP Reports Preliminary First Quarter 2012 Results

Exhibit 99.1

LOGO

For Immediate Release

April 13, 2012

SAP Announces 2012 First Quarter Preliminary Results

•

First Quarter 2012 Non-IFRS Software and Software-Related Service Revenue Increased 12% to €2.63 Billion (10% at Constant Currencies)

•

First Quarter 2012 Software Revenue Increased 4% to €637 Million (1% at Constant Currencies)

•

First Quarter 2012 Non-IFRS Operating Profit Increased 7% to €834 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.


*SAP Reports Preliminary First Quarter 2012 Results*		Page 2

“Customers continue to see SAP as the trusted innovator in the Business Applications market and we are innovating ahead of schedule. We had strong growth in Asia Pacific/Japan, Latin America and Germany. We also moved swiftly to address the sales execution challenges in North America and are already seeing our measures deliver success,” said SAP Co-CEOs Bill McDermott and Jim Hagemann Snabe. “Our pipeline is robust with increasing demand for key innovations including HANA, real-time analytics, mobile, cloud as well as our core applications. We are confident we will deliver a strong second quarter and we confirm our full-year outlook.”

FINANCIAL RESULTS IN DETAIL

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

FINANCIAL HIGHLIGHTS – First Quarter 2012


	First Quarter 2012¹⁾
	IFRS							Non-IFRS²⁾
€ billion, unless otherwise stated	Q1 2012		Q1 2011		% change			Q1 2012		Q1 2011		% change			% change const. curr.³⁾
Software		0.64		0.62		4	%		0.64		0.62		4	%		1	%
Software and software-related service revenue		2.62		2.33		13	%		2.63		2.34		12	%		10	%
Total revenue		3.35		3.02		11	%		3.36		3.04		10	%		8	%
Operating profit		0.63		0.60		6	%		0.83		0.78		7	%		3	%
- thereof TomorrowNow litigation		0.01		0.00		N/A			N/A		N/A		N/A			N/A
Operating margin (%)		18.8		19.7		–0.9pp			24.8		25.6		–0.8pp			–1.0pp

1)	All figures are preliminary and unaudited.

Adjustments in the revenue line items are for the revenue that would have been recognized had the acquired entities remained stand-alone entities but that SAP is not permitted to recognize as revenue under IFRS as a result of business combination accounting rules. Adjustments in the operating expense line items are for acquisition-related charges, share-based compensation expenses, restructuring and discontinued activities.

Constant currency revenue and operating profit figures are calculated by translating revenue and operating profit 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-IFRS constant currency numbers with the non-IFRS numbers of the previous year’s respective period.

First Quarter 2012

•

IFRS software revenue was €0.64 billion (2011: €0.62 billion), an increase of 4% (1% at constant currencies).


*SAP Reports Preliminary First Quarter 2012 Results*		Page 3

•

IFRS software and software-related service revenue was €2.62 billion (2011: €2.33 billion), an increase of 13%. Non-IFRS software and software-related service revenue was €2.63 billion (2011: €2.34 billion), an increase of 12% (10% at constant currencies).

•

IFRS total revenue was €3.35 billion (2011: €3.02 billion), an increase of 11%. Non-IFRS total revenue was €3.36 billion (2011: €3.04 billion), an increase of 10% (8% at constant currencies).

•

IFRS operating profit was €0.63 billion (2011: €0.60 billion), an increase of 6%. Non-IFRS operating profit was €0.83 billion (2011: €0.78 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 €7 million (2011: €17 million). Non-IFRS operating profit additionally excludes acquisition-related charges of €120 million, profit from discontinued activities of €7 million, share-based compensation expenses of €83 million and restructuring expenses of €0 million (2011: €112 million, expenses of €2 million, €52 million and €0 million).

Regional Performance — First Quarter 2012

•

IFRS and non-IFRS software revenue for the EMEA region: €279 million, an increase of 4% (increase of 4% at constant currencies).

•

IFRS software and software-related service revenue for the EMEA region: €1,233 million, an increase of 10%. Non-IFRS software and software-related service revenue: €1,234 million, an increase of 9% (increase of 9% at constant currencies).

•

IFRS and non-IFRS software and software-related service revenue for Germany: €371 million, an increase of 12% (increase of 12% at constant currencies).

•

IFRS and non-IFRS software revenue for the Americas region: €236 million, a decrease of 4% (decrease of 7% at constant currencies).

•

IFRS software and software-related service revenue for the Americas region: €946 million, an increase of 12%. Non-IFRS software and software-related service revenue: €952 million, an increase of 12% (increase of 8% at constant currencies).

•

IFRS software and software-related service revenue for the United States: €692 million, an increase of 12%. Non-IFRS software and software-related service revenue: €698 million, an increase of 11% (increase of 6% at constant currencies).

•

IFRS and non-IFRS software revenue for the APJ region: €123 million, an increase of 19% (increase of 16% at constant currencies).


*SAP Reports Preliminary First Quarter 2012 Results*		Page 4

•

IFRS software and software-related service revenue for the APJ region: €440 million, an increase of 22%. Non-IFRS software and software-related service revenue: €440 million, an increase of 22% (increase of 16% at constant currencies).

•

IFRS software and software-related service revenue for Japan: €144 million, an increase of 16%. Non-IFRS software and software-related service revenue: €144 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: €11.35 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 €5.05 billion — €5.25 billion at constant currencies (2011: €4.71 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: €838 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: €2.59 billion).

SAP will provide further details of its first quarter 2012 results on April 25th.

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


*SAP Reports Preliminary First Quarter 2012 Results*		Page 5

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 16^th, 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).

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.

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.


*SAP Reports Preliminary First Quarter 2012 Results*		Page 6

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)

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 more information, financial community only:


Stefan Gruber +49 (6227) 7-44872 investor@sap.com, CET

Follow SAP Investor Relations on Twitter at @sapinvestor.

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