SAP deserves better than expected

Released on 13.10. 2021

  • Good figures: Europe’s largest software manufacturer SAP increases its business outlook. Photo: Uwe Anspach

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The business with software over the net is growing strongly. This is one of the reasons why the industry giant SAP can come up with good numbers. The people of Walldorf are more confident for the year as a whole.

Walldorf (dpa) – Europe’s largest software manufacturer SAP has earned significantly more than expected and has increased the business outlook. The operating result before interest and taxes adjusted for special effects rose in the second quarter by two percent to 2.1 billion euros, as the Dax heavyweight announced on Tuesday evening in Walldorf.

Experts had with expected a noticeable decline. The group sees itself as the world market leader in software for managing companies.

Because the software for use via the network (cloud software) continues to be popular with customers and new product initiatives are also bearing fruit , increased sales compared to the weak prior-year quarter by five percent to 6, 84 billion euros. Experts had expected a significantly weaker increase. The Walldorf share rose significantly on Wednesday.

The bottom line remained at 1, 42 billion euros 14 percent less net profit than in the same period last year. Above all, more money was needed for the share-based remuneration of employees.

“We are experiencing record demand for our applications and our platform,” said SAP CEO Christian Klein. “This has led to a significant acceleration in our cloud growth.”

Klein raised the financial forecast for the current year. In the cloud business, the group expects currency-adjusted sales growth of 16 to 19 percent. Last stood 15 to 18 percent in plan. In the case of currency-adjusted figures, exchange rate fluctuations with other currencies are hidden. Adjusted operating profit should now decrease by a maximum of two percent after adjusting for currency effects instead of four percent.

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