WALLDORF (dpa-AFX) – Europe’s largest software maker SAP (SAP SE) did more business than expected last year thanks to the final boom, particularly in cloud software. Total sales rose 2 percent year-on-year to 27.8 billion euros in 2021, heavyweight DAX 40 announced Thursday night. “The accelerated growth promises even greater opportunities in the future,” said Christian Klein, President of SAP, who noted above all the success of the still young “Rise” product suite, which allows customers to switch more quickly to cloud software – that is, software for cross-use Network – should facilitate.
With the Walldorf-based company currently investing a lot of money in growth initiatives and cloud applications that aren’t yet profitable, earnings before interest and taxes adjusted for special effects — profit from day-to-day business — fell one percent to 8.23 billion euros. However, sales and earnings were slightly better than analysts had previously thought. In some cases, SAP has exceeded its own company expectations.
In sum, net profit rose 2% to 5.38 billion euros. True, SAP had to spend a lot of money on stock-based employee compensation. However, the group’s venture capital subsidiary Sapphire Ventures benefited from the good performance of its investments throughout the year.
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