SAP SE Form 6-K Summary
Business Context and Reporting Period
This Form 6-K, filed on July 13, 2006, by SAP AG (SAP SE), incorporates by reference a press release announcing preliminary financial results for the second quarter ended June 30, 2006. The filing serves to disclose these results to U.S. investors pursuant to Rule 13a-16 of the Securities Exchange Act of 1934.
Key Financial Metrics
The filing text does not provide specific numerical values for revenue, profit, cash flow, margins, debt, or liquidity. It explicitly states that the attached press release (Exhibit 99.1) contains these figures, including GAAP and non-GAAP measures such as pro forma operating income, pro forma operating margin, pro forma net income, and pro forma earnings per share (EPS). The filing also notes the disclosure of currency-adjusted year-on-year changes in revenue and operating income, but the specific amounts are not present in the provided text.
Material Changes and Non-GAAP Measures
The document details the methodology for calculating non-GAAP pro forma measures, which exclude specific expenses to reflect core operations:
- Stock-based compensation: Excludes expenses for plans such as STAR, LTI, SOP, EDSP, and Incentive Plan 2010, as well as settlement expenses related to mergers and acquisitions.
- Acquisition-related charges: Excludes amortization of intangible assets acquired in business or intellectual property acquisitions.
- Impairment-related charges: Excludes other-than-temporary impairment charges on minority equity investments.
Management utilizes these pro forma measures for internal reporting and variable compensation criteria, asserting they provide meaningful supplemental information.
Guidance, Outlook, and Risks
The filing contains standard forward-looking statement disclaimers. It warns that statements using terms such as "anticipate," "believe," "estimate," "expect," "forecast," "intend," "may," "plan," "project," "predict," "should," and "will" are subject to risks and uncertainties that could cause actual results to differ materially from expectations. SAP undertakes no obligation to update these statements. Specific risks are referenced as being discussed in the company's most recent Annual Report on Form 20-F for 2005.
Investor Verification Checklist
- Review the attached Press Release (Exhibit 99.1) for specific Q2 2006 revenue, operating income, and EPS figures.
- Verify the reconciliation between reported GAAP results and the disclosed pro forma non-GAAP measures.
- Assess the impact of currency fluctuations on year-on-year growth metrics as noted in the press release.
- Consult the 2005 Form 20-F for a detailed discussion of risk factors affecting future financial results.