<PAGE> 1
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
For the three-month period ended March 31, 2000
SAP AKTIENGESELLSCHAFT
SYSTEME, ANWENDUNGEN, PRODUKTE IN DER
DATENVERARBEITUNG
(Exact name of registrant as specified in its charter)
SAP CORPORATION
SYSTEMS, APPLICATIONS AND PRODUCTS IN DATA PROCESSING
(Translation of registrant's name into English)
Neurottstrasse 16
69190 Walldorf
Federal Republic of Germany
(Address of principal executive office)
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 [X] 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 [X]
If "Yes" is marked, indicate below the file number assigned to the registrant in
connection with Rule 12g3-2(b): 82-_______.
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SAP AKTIENGESELLSCHAFT
SYSTEME, ANWENDUNGEN, PRODUKTE IN DER DATENVERARBEITUNG
FORM 6-K
On April 19, 2000, SAP Aktiengesellschaft Systeme, Anwendungen, Produkte in der
Datenverarbeitung, a stock corporation organized under the laws of the Federal
Republic of Germany (the "Company"), issued a Press Release announcing its
results for the three-month period ended March 31, 2000 (the "Press Release").
The Press Release is attached as Exhibit 99.1 hereto and incorporated by
reference herein.
Any statements contained in the Press Release 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 "believe", "estimate", "intend", "may",
"will", "expect", "anticipate" and "project" and similar expressions as they
relate to the Company are intended to identify such forward-looking statements.
The Company 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 the Company's future
financial results are discussed more fully in the Company's filings with the
U.S. Securities and Exchange Commission (the "SEC"), including the Company's
Annual Report on Form 20-F for 1999 filed with the SEC on April 7, 2000. Readers
are cautioned not to place undue reliance on these forward-looking statements,
which speak only as of their dates.
1
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EXHIBITS
<TABLE>
<CAPTION>
Exhibit No. Exhibit
- ----------- -------
<S> <C>
99.1 Press Release, dated April 19, 2000.
</TABLE>
2
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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.
SAP AKTIENGESELLSCHAFT SYSTEME,
ANWENDUNGEN, PRODUKTE IN DER
DATENVERARBEITUNG
(Registrant)
By: /s/ Henning Kagermann
----------------------------------
Name: Prof. Dr. Henning Kagermann
Title: CEO and Co-Chairman
By: /s/ Dieter Matheis
----------------------------------
Name: Dieter Matheis
Title: CFO
Date: April 20, 2000
3
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EXHIBIT INDEX
<TABLE>
<CAPTION>
Exhibit No. Exhibit
- ----------- -------
<S> <C>
99.1 Press Release, dated April 19, 2000.
</TABLE>
4
<PAGE> 1
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PRESS INFORMATION [SAP LOGO]
FOR IMMEDIATE RELEASE
Contact: Gundolf Moritz
SAP AG
011-49-6227-7-44872
-or-
David Lowy
Taylor Rafferty Associates
212-889-4350
SAP ANNOUNCES 2000 FIRST QUARTER RESULTS
mySAP.com momentum continues in a challenging quarter
WALLDORF, Germany -- April 19, 2000 -- SAP AG (NYSE: SAP), the leading provider
of inter-enterprise software solutions, today announced its results for the
quarter ended March 31, 2000. In the first quarter of 2000, total revenue rose
10% over the first quarter of 1999 to E1.18 billion (1999 Q1: E1.08
billion). Pre-tax profit in the quarter before charges for the employee stock
appreciation rights program (STAR) was up 114% to E334 million (1999 Q1:
E156 million); pre-tax profit including STAR decreased 45% to E95
million (1999 Q1: E172 million). Financial and other non-operating income
was E206 million (1999 Q1: E-2 million). Net income for the quarter was
down 43% to E56 million (1999 Q1: E98 million).
"SAP was prepared for a challenging first quarter -- and we got it. While we are
satisfied with the numbers, we are committed to moving even faster and executing
even more effectively," remarked Henning Kagermann, Co-Chairman and CEO of SAP
AG. "Competition for web-based products, particularly in the US, has been fierce
and we will continue to invest considerable resources to strengthen the
mySAP.com momentum. Looking forward, our overall pipeline is healthy and we
expect a stronger software sales activity in the second and third quarters."
CONTINUED STRENGTH IN EUROPE
In the first quarter, revenues in the Europe, the Middle East and Africa (EMEA)
region increased 15% to E608 million (1999 Q1: E529 million). The
Americas region decreased 3% to E436 million (1999 Q1: E448 million) and
in the Asia-Pacific region (APA), revenues were up 40% to E139 million (1999
Q1: E99 million).
Product revenues in the quarter rose 21% to E742 million (1999 Q1:E615 million)
including a 4% increase in software license revenue to E369 million (1999
Q1:E355 million); mySAP.com contributed E80 million or 22% of license sales
(1999 4Q: 16%). Of the total license sales New Dimensions products comprised E68
million or 18% of license revenues (1999 Q4: 11%). Consulting revenues decreased
3% to E332 million (1999 Q1:E343 million) while training revenues slipped 14% to
E95 million (1999 Q1:E110 million).
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BUILDING ON THE mySAP.com FOUNDATION
Alongside many new developments on the product side (see "First Quarter
Highlights" below), SAP made several strategic moves in the first quarter to
accommodate the rapidly growing market for its Internet offerings. In
particular, SAP announced the formation of two new subsidiaries to address the
growing markets of business-to-business marketplaces and application hosting;
the company launched a global marketing campaign.
The new marketplace company, SAPMarkets, will consolidate all of the mySAP.com
Marketplace efforts to provide customers with the technology and cross company
integration expertise they need to rapidly bring marketplaces to fruition. The
aim of SAPHosting, the new applications service provider (ASP) company is to
offer ASP services from SAP and to provide support and quality benchmarks to the
expanding network of mySAP.com ASP and hosting partners. SAPHosting will
initially focus its efforts in Europe.
"SAP is building the Internet structure for business-to-business collaboration
which is the most complete solution available. In the first quarter, we had
almost 100 mySAP.com deals, which shows SAP's focus on improving our customers'
business performance," commented Hasso Plattner, Co-Chairman and CEO of SAP AG
and interim CEO of SAPMarkets. "By forming separate businesses to address our
growing and changing markets, we have afforded ourselves the resources and
flexibility we need to maintain our market leadership."
In March 2000, SAP launched a multi-million Euro print, television and web-based
mySAP.com marketing campaign to demonstrate the unique advantages and ease of
use which mySAP.com delivers to an increasing number of non-R/3 users. The
message "you can. it does." has been well-received by the rapidly-expanding
mySAP.com ecosystem.
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FIRST QUARTER 2000 HIGHLIGHTS
CONTINUOUS SUCCESS OF mySAP.com:
The momentum of mySAP.com continued in the first quarter. New mySAP.com
customers in the quarter include: in the US, eBay, State of Arkansas; in Europe,
Buderus, Eurotunnel, Hubwoo.com; in Asia/Pacific, Kawasaki Heavy Industry and
Sanyo Electric.
mySAP.com comprises the following four elements:
- mySAP.com WORKPLACE: is a role-based enterprise portal that provides
single, unified Web-based access for users' needs in their business
role. It empowers users to perform effectively in dynamic, fast-paced,
market-driven work environments by putting the exact application,
information and services at their fingertips through an interface that
is easy to learn, tailor and use.
- mySAP.com BUSINESS APPLICATIONS: come in the e-commerce, Customer
Relationship Management, Supply Chain Management, Business
Intelligence, and Enterprise Resource Planning applications area.
mySAP.com Business Applications are fully integrated between
enterprises and between providers and end consumers.
- mySAP.com MARKETPLACES: are business hubs on the Internet that
provide an infrastructure for collaborative business. More than 5,600
companies have registered with the mySAP.com Marketplace. Together with
Deutsche Bank SAP will jointly provide financial and trading services
to facilitate collaborative electronic business based on the technology
infrastructure of mySAP.com Marketplaces. Deutsche Bank and SAP also
plan to jointly create and operate industry-specific marketplaces based
on mySAP.com Marketplace technology. SAP and a group of leading global
chemical companies announced that they will form an independent joint
venture with the goal of creating the leading electronic marketplace
for the chemical and pharmaceutical industries using mySAP.com
e-business and marketplace technology. Danone and Nestle S. A., world
leaders in the food industry, announced the creation of Europe's first
Internet marketplace for e-procurement in the consumer goods sector.
This marketplace is scheduled to go live in July this year and will be
based on the mySAP.com e-business platform.
- APPLICATION HOSTING WITH mySAP.com: provides access to mySAP.com
applications and solutions via networks. Companies of all industries
and of various sizes are embracing the SAP hosting business model to
take advantage of the lower cost of ownership and rapid deployment of
Internet business solutions.
YOU CAN. IT DOES.
SAP launched a major global advertising campaign during the first quarter. The
campaign, which includes a strong mix of TV, print and on-line media, is part of
SAP's communication programme developed to build mySAP.com into a powerful
brand. The new tag line -- "you can. it does." -- is designed to encapsulate the
real empowerment provided to both businesses and individuals through the use of
mySAP.com and the Internet. The campaign will run throughout 2000.
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SAPMARKETS
SAP announced in March the formation of a new subsidiary -- SAPMarkets --
dedicated to creating and powering globally interconnected Business-to-Business
marketplaces on the Internet. Following the successful introduction of mySAP.com
last year, this move underlines a new quality in developing, marketing and
operating Internet-based marketplaces and providing collaborative business
solutions. The new company will operate globally with headquarters in Palo Alto,
California and is expected to open for business in May 2000.
CEBIT
mySAP.com was the central theme for SAP at this year's CeBIT in Hannover, the
world's largest information technology trade fair. At CeBIT, SAP announced the
creation of a new company, SAPHosting, which will be dedicated to the rapidly
growing Internet application service provider (ASP) and application hosting
business.
<PAGE> 5
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FIRST QUARTER KEY FIGURES
<TABLE>
<CAPTION>
Q1 2000 Q1 1999 % Change
------- ------- --------
<S> <C> <C> <C>
Revenues (E mill.) ............................................. 1,183 1,076 10
Income before taxes (E mill.) .................................. 95 172 - 45
Net profit (E mill.) ........................................... 56 98 - 43
Headcount as of Mar. 31 ........................................ 22,298 20,406 9
- in Germany (operational) .................................... 3,497 3,050 15
</TABLE>
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 "believe," "estimate," "intend," "may,"
"will," "expect," and "project" and similar expressions as they relate to the
Company are intended to identify such forward-looking statements. The Company
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 the Company's future financial
results are discussed more fully in the Company's filings with the U.S.
Securities and Exchange Commission (the "SEC"), including the Company's Annual
Report on Form 20-F for 1999 filed with the SEC on April 7, 2000. Readers are
cautioned not to place undue reliance on these forward-looking statements, which
speak only as of their dates
SAP AG preference and common shares are listed on the Frankfurt Stock Exchange
as well as a number of other exchanges. In the US, SAP's American Depositary
Receipts (ADRs), each worth one-twelfth of a preference share, trade on the New
York Stock Exchange under the symbol "SAP". SAP is a component of the DAX, the
index of 30 German blue chip companies.
Information on the SAP AG preference shares is available on Bloomberg under the
symbol SAP3 GR, on Reuters under SAPG_p.F or DE and on Quotron under SAGVD.EU.
Information on the SAP common shares is available on Bloomberg under the symbol
SAP GR, on Reuters under SAPG.F and on Quotron under SAGR.EU. Additional
information is available on SAP AG's home page: http://www.sap.com.
# # #
(Tables to follow)
<PAGE> 6
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SAP GROUP
PRELIMINARY INCOME STATEMENT - FIRST QUARTER
(IN E MILLIONS)
<TABLE>
<CAPTION>
2000 1999 D
---- ---- -
<S> <C> <C> <C>
Software revenue ......................................... 369 355 4%
Maintenance revenue ...................................... 373 260 43%
Product revenue ............................................. 742 615 21%
Consulting revenue ....................................... 332 343 -3%
Training revenue ......................................... 95 110 -14%
Service revenue ............................................. 427 453 -6%
Other revenue ............................................... 14 8 75%
------ ----- ------
TOTAL REVENUE ..................................................... 1,183 1,076 10%
------ ----- ------
Cost of product ............................................. -126 -97 30%
Cost of service ............................................. -366 -394 -7%
Research and development .................................... -194 -140 39%
Sales and marketing ......................................... -288 -228 26%
General and administration .................................. -74 -47 57%
Other income/expenses, net .................................. -7 -12 -42%
------ ----- ------
TOTAL OPERATING EXPENSE EXCL. STAR ................................ -1,055 -918 15%
------ ----- ------
STAR expense ................................................ -239 16 -1594%
------ ----- ------
TOTAL OPERATING EXPENSE INCL. STAR ................................ -1,294 -902 43%
------ ----- ------
OPERATING INCOME .................................................. -111 174 -164%
------ ----- ------
Other non-operating income/expenses, net .......................... -32 -6 433%
Financial income, net ............................................. 238 4 5850%
------ ----- ------
ICOME BEFORE INCOME TAXES ......................................... 95 172 -45%
------ ----- ------
Income taxes ...................................................... -38 -74 -49%
------ ----- ------
Minority interest ................................................. -1 0
NET INCOME ........................................................ 56 98 -43%
------ ----- ------
BASIC EARNINGS PER SHARE (IN E)
Ordinary shares ............................................. 0.53 0.92 -42%
Preference shares ........................................... 0.56 0.95 -41%
------ ----- ------
DSO (IN DAYS) ..................................................... 106 108
------ -----
</TABLE>
FIGURES ARE REPORTED ACCORDING TO US-GAAP.
<PAGE> 7
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SAP GROUP
PRELIMINARY CONSOLIDATED BALANCE SHEET - FIRST QUARTER
(IN E MILLIONS)
ASSETS
<TABLE>
<CAPTION>
03/31/2000 12/31/1999
---------- ----------
<S> <C> <C>
INTANGIBLE ASSETS .......................................................... 122 120
PROPERTY, PLANT AND EQUIPMENT .............................................. 807 794
FINANCIAL ASSETS ........................................................... 455 610
------ ------
FIXED ASSETS................................................................ 1,384 1,524
INVENTORIES/ACCOUNTS RECEIVABLES............................................ 1,919 2,157
LIQUID ASSETS............................................................... 1,566 810
CURRENT ASSETS.............................................................. 3,485 2,967
DEFERRED TAXES.............................................................. 392 284
PREPAID EXPENSES............................................................ 88 52
------ ------
TOTAL ASSET................................................................. 5,349 4,827
====== ======
</TABLE>
SHAREHOLDERS' EQUITY AND LIABILITIES
<TABLE>
<CAPTION>
03/31/2000 12/31/1999
---------- ----------
<S> <C> <C>
SHAREHOLDERS' EQUITY ....................................................... 2,525 2,559
MINORITY INTEREST ......................................................... 9 9
RESERVES AND ACCRUED LIABILITIES ........................................... 1,326 1,326
OTHER LIABILITIES .......................................................... 621 671
DEFERRED INCOME ............................................................ 868 310
------ ------
TOTAL SHAREHOLDERS' EQUITY AND LIABILITIES ................................. 5,349 4,827
====== ======
</TABLE>
FIGURES ARE REPORTED ACCORDING TO US-GAAP.
