Tuesday, 29 April 2008

Software AG Reports “Strong” Q1 Profits

Business software solutions provider, Software AG reported its first quarter revenue for 2008 with group revenues amounting to 159.4 million Euros.

“Our core business of data management is running successfully worldwide,” said Karl-Heinz Streibich, CEO of Software AG.

“In the field of integration software we are doing very well in the US market, contrary to the general trend. In addition, we have succeeded in concluding deals with large customers in other regions and we have further growth potential.”

On the basis of the first quarter business development, the Executive Board confirmed the forecast for 2008: growth of Group revenue of between 24-27% (at constant currency) and an EBIT margin expected to reach 24%.