Business software giant SAP has reported the highest software revenues in its history, reaping total 2010 revenues of €12.4bn, up 11pc on last year.
The company also said the US$1.3bn judgment against the company – the largest amount of damages in a case of its kind – in a case taken by Oracle was “disproportionate and wrong.”
SAP reported software revenues of €3.2bn for 2010 and revenues of €9.2bn from software and software-related services revenue.
Impact of Oracle judgment
The company said the impact for 2010’s results arising from the Oracle V SAP/Tomorrow Now case had an impact of €56m for 2009 and €980m for 2010.
SAP said it believes the amount awarded by the jury in the court case was “disproportionate and wrong” and that it intends to file post-trial motions in the coming weeks requesting a reduction in the amount of damages rewarded or order a new trial.
“We finished 2010 with the highest fourth quarter for software revenue in our history. Our strong performance and our business outlook for 2011 demonstrates that SAP is confident about achieving double-digit growth and continued margin expansion,” said Werner Brandt, CFO of SAP.
“Moreover, in light of our excellent results and our confidence in our business going forward, we will recommend to the Supervisory Board that we increase our dividend by 20pc from €0.50 to €0.60 per share payable in 2011.”