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SAP records “record demand” - and surprises in the third quarter

2021-10-13T08:27:02.078Z


Thanks to the well-running cloud business, the software manufacturer SAP has raised its forecast for the third time this year.


Thanks to the well-running cloud business, the software manufacturer SAP has raised its forecast for the third time this year.

Walldorf - Europe's largest software manufacturer SAP earned significantly more than expected in the third quarter just ended and raised its forecast.

Adjusted for special effects and before interest and taxes, the operating result of the software manufacturer SAP rose surprisingly by 2 percent to 2.10 billion euros, according to preliminary figures.

The Dax heavyweight announced on Tuesday evening in Walldorf.

Thanks to the cloud business, which has grown by a fifth, sales increased by 5 percent to 6.84 billion euros compared to the weak quarter of the previous year.

Analysts had previously expected a significantly weaker increase.

The bottom line was, at 1.42 billion euros, 14 percent less net profit than a year ago.

The decrease is mainly due to additional spending on share-based compensation for employees.

SAP boss increases the financial forecast

After the surprisingly good performance, SAP boss Christian Klein increased the forecast for the current year slightly.

According to this, the group now expects a currency-adjusted increase of 16 to 19 percent in cloud revenues.

Most recently, an increase of 15 to 18 percent was planned.

Adjusted operating profit is now expected to decrease by a maximum of 2 percent after adjusting for currency effects instead of 4 percent.

In the better case, SAP continues to consider a value as in the previous year to be possible at constant exchange rates.

SAP experiences "record demand"

"We are experiencing a record demand for our applications and our platform," said Klein, according to the announcement.

"This has led to a significant acceleration in our cloud growth." The cloud business is growing faster and faster and has led to the increased outlook for the full year, said CFO Luka Mucic.

(dpa / ph)

Source: merkur

All news articles on 2021-10-13

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