2. Financial Performance

1/3 forward

Significant growth once again in Group revenues

Group revenue rose to €159.4 million in Q1 2008 (Q1 2007: €124.7 million). It therefore exceeded the previous year’s result by 28 percent, or 37 percent following currency adjustment. This increase can be attributed to the acquisition of webMethods, Inc. as well as a positive trend in our operational business. This quarter also gave no indications that the weakened economy has influenced demand for IT products and services.

Product revenues (licenses and maintenance) increased by 26 percent to €114.8 million (Q1 2007: €91.4 million). Growth totaled 36 percent following currency adjustment.

The licensing revenues included in product revenues rose 28 percent following currency adjustment, or 18 unadjusted, to €55.4 million (Q1 2007: €46.9 million). Maintenance revenues grew by 44 percent following currency adjustment (unadjusted: 33 percent) to €59.4 million (Q1 2007: €44.5 million).

The Professional Services area generated revenues of €43.9 million, 35 percent (currency-adjusted: 40 percent) more than in 2007 (€32.6 million).

Revenues by Division

webMethods particularly strong in USA
Our webMethods Division achieved revenue growth of 88 percent in Q1 2008, earning a total of €68.7 million. Revenues in Q1 2007 amounted to €36.4 million. The largest share of this growth resulted from the acquisition of webMethods, Inc., which was not yet consolidated in Q1 2007. New business in the USA also turned in a very positive performance, although new business in Europe was somewhat less than expected. In the coming weeks we will be focusing on strengthening sales structures and management in order to ensure that we reach our targets for the year. The webMethods Division contributed 43 percent to Group revenues.

ETS enjoys worldwide success

Revenues in the ETS Division were €90.7 million in the first quarter (Q1 2007: €88.3 million). This represents a slight growth of 2 percent, or 9 percent following currency adjustment. The maintenance business was particularly encouraging, with a significant rise of 7 percent following currency adjustment. The measures introduced in recent months contributed to this positive outcome. Overall, the ETS Division contributed 57 percent to total revenues.


IFRS, unaudited
in € million



in %



22.2 13.8 +61


21.0 6.2 +268

Service & other

25.4 16.4 +55
Total 68.6 36.4 +93


33.2 33.1 +1


38.3 38.3 0

Service & other

19.2 16.9 +14
Total 90.7 88.3 +3