While we are satisfied with the numbers, we are committed to moving even faster and executing even more effectively, … Competition for Web-based products, particularly in the U.S., has been fierce and we will continue...

One-third of this is stand-alone, where no other applications come in.

We continued to demonstrate that organic growth is a very effective way to achieve success in this industry, and that it benefits our customers, partners and shareholders.

We are dedicated to providing our customers powerful solution offerings that deliver a scalable security backbone to support identity management across evolving corporate and IT landscapes, … Siemens identity management solution complements our platform and...

We’ll have about 100,000 customers, with 40 to 45 percent order entry coming from the market. New sources of revenue with high margins will be developed.

I’m convinced that she is really the right person for Germany. She’s very pragmatic, she can listen, and she is not always talking about these grand visions but about small executable steps. We are very...

India is starting to get expensive. We’ve decided to hire only a certain number of employees there and then to look around for other locations.

We see a lot of opportunity for growth — mostly organic but we will make fill-in acquisitions if we need to buy in certain expertise.

One reason we don’t have so much development in China is obviously that protection of intellectual property is not like in other countries.

According to the current indications that sales growth in the first quarter will be slightly below our previous year on year rate of 20 to 25 percent, we expect pre-tax profit to fall significantly.

Luckily, I hurt my foot so I had time to go over the proofs.

India is gradually becoming more expensive.

If SAP is to have a workers council, then it should be a workers council that is representative of the heart of the company. We have a duty to maintain our unique company culture and...

The parts of that market where we compete are both nine billion euros,

You have to respect that there is a law.

I would expect that in five years from now we would come close to that coverage,

Against this background we are confident of our earlier expectations that we will be able to grow pre-tax profits for the current year, excluding provisions for the STAR program, by 30 percent to 35 percent...

We’ll never substitute our core business, but [on-demand] will be an additional revenue stream.

The third quarter marked another strong performance for SAP. We had record third-quarter software revenues, we gained share against our peer group, and we extended our lead in the U.S.

Europe was solid as anticipated, and the U.S. exceeded our expectations and we continued to gain market share,

Everything that is applicable to consumption can be there for this type of on-demand model.

We are pleased to report another strong quarter for SAP,

We want to take on more people again in 2006.

We are pleased to say that we are off to a good start in 2006 with continued strong growth in software and product revenues for the first quarter.

Looking forward, our overall pipeline is healthy and we expect stronger software sales in the second and third quarters,