Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Xetra  >  SAP    SAP   DE0007164600

SAP (SAP)
My previous session
Most popular
  Report  
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsOfficial PublicationsSector newsMarketScreener StrategiesAnalyst Recommendations

SAP : Exclusive - SAP investigating its sales practices in Gulf region

share with twitter share with LinkedIn share with facebook
share via e-mail
0
11/22/2017 | 01:59pm EST
FILE PHOTO: SAP logo at SAP headquarters in Walldorf

DUBAI/LONDON (Reuters) - German business software giant SAP, which last month said its South African sales commissions were being probed by U.S. regulators, has launched an investigation into its business practices in the Gulf region, it said on Wednesday.

The company also said one of its executives in the Gulf region had resigned and another was on administrative leave, without giving further details.

SAP operates in more than 180 countries, selling business planning software that many of the world's top multinationals rely on to manage their far-flung business operations. It is a big supplier of corporate compliance software.

A source familiar with the matter said the individuals referred to by SAP were Tayfun Topkoc, the company's country manager for the United Arab Emirates, and Oman country manager Przemek Oledzki - whose LinkedIn profile identifies him as chief of staff for the UAE, Iran and Oman region.

The source added SAP's investigations related to the company's dealings with Iran, which are overseen by its Gulf States offices in Dubai.

Topkoc and Oledzki did not immediately respond to requests for comment via their email and social media profiles.

"We are currently investigating business activities in the region," SAP told Reuters in a statement, without specifying whether the matter concerned Iran.

"SAP is committed to the highest standards of business ethics and we always strive to operate with transparency and integrity. Please understand that we cannot say more while the investigation is ongoing," it said.

GLOBAL COMPLIANCE CRACKDOWN

Last month, SAP promised to make sweeping changes to its sales practices around the world after the company revealed it was the subject of a U.S. corruption probe tied to its South African business. (http://reut.rs/2jNUIey) (http://reut.rs/2z8By9x)

A spokesman declined to comment on whether the issues in the Gulf had arisen after the company put in place additional compliance and due diligence controls worldwide on the use of sales agents and resellers to win SAP contracts.

In April, SAP warned customers and sales partners that U.S. sanctions continued to restrict its dealings with Iran and the sale of the company's software there.

Despite the lifting of some sanctions by the European Union and the United States in early 2016 following a multinational nuclear deal, severe penalties could result from violating the remaining U.S. sanctions, the company said at that time.

In October, an SAP board member told Reuters that an internal probe by the company had found faults in its compliance and due diligence controls on how it conducts sales in South Africa and in other countries.

In response, SAP said it no longer would pay sales commissions on public sector deals in nations where risks of corruption in government contract awards remained high, such as Brazil, China, India, Russia, Iran and South Africa.

Last year, SAP was fined $3.9 million (£2.93 million) by U.S. securities regulators for failing to maintain internal controls to prevent a bribery scheme by a former sales executive who won lucrative contracts from the Panamanian government. (https://reut.rs/2vcPOIp)

(Reporting by Tom Arnold in Dubai and Eric Auchard in London; Editing by Greg Mahlich and Mark Potter)

By Tom Arnold and Eric Auchard

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on SAP
01/23SAP : Launch of a Citizens Agenda for the SDGs
PU
01/23HASSO PLATTNER FOUNDERS' AWARD FINAL : First-of-Its-Kind Digital Access Model
PU
01/23SAP : and Google Cloud Want to Make a Sustainable Difference—With You!
PU
01/23SAP : PM Discusses with SAP SE's CEO Investments in Egypt
AQ
01/23SAP : PM discusses with SAP SE's CEO investments in Egypt
AQ
01/22SAP : President Aliyev meets SAP CEO in Davos
AQ
01/21SAP : Women Lead the Way in Public-Private Partnerships to Drive a New Equality ..
PU
01/21SAP : How Baldinger Bakery Creates the Perfect Bun
PU
01/18SAP : Brands With Purpose Are the Big Winners in Retail
PU
01/18SAP : Let's Democratize Innovation
PU
More news
Financials (€)
Sales 2018 24 593 M
EBIT 2018 7 045 M
Net income 2018 4 409 M
Debt 2018 1 988 M
Yield 2018 1,58%
P/E ratio 2018 24,84
P/E ratio 2019 22,32
EV / Sales 2018 4,64x
EV / Sales 2019 4,14x
Capitalization 112 B
Chart SAP
Duration : Period :
SAP Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends SAP
Short TermMid-TermLong Term
TrendsBullishBearishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 34
Average target price 108 €
Spread / Average Target 18%
EPS Revisions
Managers
NameTitle
William R. McDermott Chief Executive Officer
Hasso Plattner Chairman-Supervisory Board
Christian Klein Chief Operating Officer
Luka Mucic Chief Financial Officer
Juergen Mueller Head-Innovation & Technology
Sector and Competitors
1st jan.Capitalization (M$)
SAP5.37%127 601
ORACLE CORPORATION9.06%175 642
INTUIT7.82%55 104
SERVICENOW INC4.30%33 296
CONSTELLATION SOFTWARE INC.6.19%14 729
TABLEAU SOFTWARE INC0.95%10 016