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Software FY19 Profit Down

Software AG Monday reported full-year 2019 net income of 188.1 million euros or 2.54 euro per share, down from 195.0 million euros or 2.64 euro per share.

Sales for the year rose 3% to 890.6 million euros from 865.7 million euros last year.

EBITDA dropped to 260.3 million euros from 272.9 million euros last year.

"I am pleased to report that against a backdrop of significant transformation in 2019 Software AG delivered overall revenue growth and profit in line with guidance. This is a testament to our strategy, the strength of our products, and our increasingly strong position in the market. We have addressed and overcome challenges, particularly in our North America business, while renewed focus and sharper execution has allowed us to manage costs while investing behind key growth opportunities like our partner ecosystem and simplification of our product offering," CEO Sanjay Brahmawar said.

For the fourth quarter, net income dropped to 61.6 million euros or 0.83 euro per share from 71.5 million euros or 0.97 euro per share.

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