March 29, 2001, 2:58 PM — BUSINESS SOFTWARE MAKER SAP released its annual report for fiscal year 2000 Thursday, providing final, audited financial results for the year. The company released preliminary figures in January.
Revenue for the year stood at $5.6 billion, an increase of 23 percent over the 1999 figure, SAP said in a statement. Net profit was up 5 percent at $562 million.
Of 2000 revenue, $586 million came from SAP's mySAP.com Internet-based software platform, a jump of 412 percent for the year. SAP has been pinning its growth hopes on mySAP license revenue.
"Throughout each of the quarters in 2000, the share of our revenues generated by the new mySAP.com e-business platform grew," wrote Hasso Platner and Henning Kagermann, co-chairmen and chief executive officers, in a letter introducing the annual report. "However, in the early quarters, revenue development caused some unease about the outlook for our new product."
They continued, "Even with these challenges, SAP moved forward successfully on all fronts to change itself from a vendor of components to a provider of solutions."
SAP has been seen as relatively insulated from the U.S. economic downturn, due to the small share of its 2000 sales in the United States compared with major software competitors. U.S. sales, at $1.64 billion, made up 30 percent of revenue, as against 49 percent accounted for by Europe, the Middle East, and Africa.