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Software AG reports significant growth

Although a number of technology companies continue to struggle in the face of the ongoing economic downturn, some are thriving. One such winner is Software AG, which reported fourth-quarter 2001 revenue growth of 36% to 159.6 million euros.

Although a number of technology companies continue to struggle in the face of the ongoing economic downturn, some are thriving. One such winner is Software AG, which reported fourth-quarter 2001 revenue growth of 36% to 159.6 million euros. Based on consolidated preliminary financial data, earnings before interest, tax, depreciation and amortisation totalled 37.2 million euros – a 63% increase over the same quarter last year.

Software AG’s chief executive, Dr. Erwin Königs, described the financial results as some of the best the company has produced. “Despite unfavourable market conditions, 2001 was Software AG’s most successful fiscal year in its over 30-year history,” he said.

Moving forward, the company expects little to change in terms of economic conditions for 2002 and believes that customers will continue to invest predominantly in the improvement of their existing IT infrastructures, “in order to maximise productivity, cut costs and fully automate processes with their business partners.”

As a result, Software AG is predicting substantial growth in its server products will in the coming 12 months as ‘Total Business Integration’ ensures that the enterprise has to rationalise and integrate its IT systems.

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