FRANKFURT (Thomson Financial) - SAP AG chief executive Henning Kagermann told the Frankfurter Allgemeine Sonntagszeitung he is disappointed with his company's share price development this year, which has underperformed the DAX index.
'We have more then doubled our share price between the beginning of 2003 and the end of 2006,' Kagermann told the newspaper.
'However, we naturally cannot be satisfied with the development of our share price this year.'
The chief executive added that some investors were not happy with the company's plans to continue to invest heavily in research and development.
'Some investors don't like it that we initially invest for one or two years prior to bringing new products to market,' he said.
'The market becomes lukewarm and some investors would rather wait until the success has been achieved.'
SAP will report its second quarter results on July 19. alfred.kueppers@thomson.com amk/jag COPYRIGHT Copyright AFX News Limited 2007. All rights reserved. The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.