SAP AG Q1 2006 Earnings Conference Call Transcript (SAP)

SAP AG (SAP)
Q1 2006 Earnings Conference Call
April 20th 2006, 9:00 AM.

Executives:

Stefan Gruber, Director, Investor Relations
Werner Brandt, Chief Financial Officer
Henning Kagermann, Chief Executive Officer

Analysts:

John Frederick, J.P Morgan
Gill, Citigroup
Mark Bryan, Deutsche Bank
Adam Shepherd, Dresdner
Rick Sherlund, Goldman Sachs
Gary Rollo, Morgan Stanley
Charles DiBona, Sanford Bernstein
Raimo Lenschow, Merrill Lynch
Michael Briest, UBS
Matthew Hammond, Credit Suisse
Michael Schacht, Cheuvreux
Alla Gorelova, Sal Oppenheim

Presentation

Stefan Gruber, Director, Investor Relations

Good morning or good afternoon. This is Stefan Gruber. Thank you for joining us to discuss SAP’s First Quarter 2006 Results. I am joined in Waldorf by Henning Kagermann and Werner Brandt. And Leo Apotheker joins us by phone from Paris. Werner will discuss the Q1 financials in detail and Henning will then provide some further commentary on the quarter’s performance and SAP’s product successes.

Before we start with the call, I would like to remind everybody about the upcoming SAPPHIRE conferences in Orlando and Paris, in May. We will be holding investor briefings in Orlando on Wednesday the 17th of May and in Paris on Tuesday, May 30th. In addition, I will make a few remarks about forward-looking statements.

Any statements made during this call that are not historical facts are forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. Words such as “anticipate