Dresden, Germany based SAP Systems Integration has announced strong revenue growth in the third quarter as its parent, SAP AG, gears-up to take the company private and de-list it from the Frankfurt Stock Exchange.
According to preliminary figures released by SAP SI last week, the company has grown revenue by almost 29% to 90.8 million euros in the third quarter ended September 30, 2004. Earnings before interest and tax (EBIT) rose by 60.8% to 17.9 million euros, with an EBIT margin of 19.7% compared to 15.8% in 2003, claims the company.
This puts revenue for the first nine months at 253.3 million euros, up 26.1%, with EBIT for the period up 55.3% to 42.1 million. These figures do not include revenue generated from the sale for an undisclosed amount of SAP SI’s Swiss and US subsidiaries to SAP AG at the start of October.
Walldorf, Germany-based SAP AG, which now owns 92% of SAP SI following its strategy to acquire the company outright in June, announced at the start of October that it was preparing to de-list the company from the Frankfurt Stock Exchange.