SAP said on Thursday that 2009 preliminary software and software-related service revenues were 8.2 billion euros ($11.92 billion), a drop of around 5 percent at constant currencies.

While software and software-related service revenues for the fourth quarter dropped around 2 percent, that figure unexpectedly rose 5 percent in the Asian/Pacific/Japan region.

SAP, founded in 1972 in Walldorf near Heidelberg, cut its outlook three months ago on weakness in Japan and emerging markets, saying it expected its 2009 software and software-related sales to decline by between 6 and 8 percent.

Chief Executive Leo Apotheker said at the time he expected the fourth quarter to be SAP's "largest quarter by far" and that he preferred to be prudent in his outlook.

Previously, it had forecast a decline between 4 percent and 6 percent.

DZ Bank analyst Oliver Finger said on Thursday licence revenue in the fourth quarter topped expectations.

"The licence revenue is the most important trigger as it shows that SAP could catch up also some momentum in the top line. This is very important for the future development of support revenues," Finger added.

He said SAP presented "quite a solid set of numbers" but said a delay of price increases for maintenance fees could put some pressure on the stock price.

Software licensing and maintenance fees account for the major chunk of total revenues at SAP.
SAP shares gained more than 4 percent to its highest level since October 2008 before slipping back to 35.34 euros, up 1.9 percent, outpacing the German blue-chip index .GDAXI which was up 0.4 percent by 1618 GMT.

SAP's operating margin for the year was around 27.5 percent at constant currencies, exceeding SAP's target range 25.5-27.0 percent, SAP said in a statement on Thursday ahead of its scheduled Jan. 27 release date.

SAP has so far not given an outlook for 2010, saying only that while the worst of the economic crisis was over it was too early to speak of an upswing.