Sale of SAP SI stake boosts earnings per share
In April 2004, Software AG signed a contract to
transfer its 1,272,100-strong stockholding in SAP
Systems Integration AG (SAP SI) to SAP AG, Walldorf,
in return for a payment of €20.40 per share.
The sale will generate €26.0 million for Software
AG, which will further strengthen liquidity. As a
result of this transaction, an extraordinary profit of
€24 million will be posted for the second quarter.
This €0.88 per share profit is expected to lift fullyear
EPS to between €2.50 to €2.60.
By resolution of the annual shareholders’ meeting
on April 30, 2004, Dr. Andreas Bereczky, Director of
Production at German public-service TV broadcaster
ZDF, Mainz, was elected to succeed Dr. Peter Lex on
the Software AG Supervisory Board.