Frankfurt  - Shares in German software giant SAP AG fell more than 13 per cent Tuesday after it joined the growing list of European companies cutting their business forecasts in the wake of the world financial crisis.

Walldorf-based SAP said its third-quarter net profit fell 5 per cent to 408 million euros (510 million dollars) from 388 million euros in the same period last year.

This was despite a 14-per-cent increase in total revenue from 2.43 billion euros to 2.76 billion euros. However, SAP's key software license sales growth slowed to 7 per cent from 11 per cent a year earlier, the group said.

SAP said the "uncertain economic situation" had forced it to abandon its revenue projection and to lower its operating margin forecast.

Instead of between the 28.5 and 29 per cent range, SAP said it now expects a margin of 28 per cent. This is provided it can increase software and software-related service revenues.

SAP shares fell 13.1 per cent to 21.33 euros following the release of the results.

However, the group's earnings before interest and tax rose from 606 million euros to 614 million euros.

"This is a good result especially when considering that the end of quarter the decisions on purchases by our customers was strongly influenced by the world financial crisis," said SAP chief Henning Kagermann.

"We've been through uncertainty before, and have always emerged as a better, stronger and more efficient company," he said. (dpa)