Printer Friendly

Germany : SAP Announces First Quarter 2014 Results.

AP AG today announced its financial results for the first quarter ended March 31, 2014.

Fast Cloud Growth Ahead of Annual Outlook Growth Range: Non-IFRS Cloud Subscriptions and Support Revenue Increased 38% at Constant Currencies (32% at Actual Currencies)

Strong Cloud Billings Growth: Non-IFRS Calculated Cloud Billings Increased 36% at Constant Currencies; Annual Cloud Revenue Run Rate Approaching 1.1 Billion

SSRS Revenue Growth Ahead of Annual Outlook Growth Range: Non-IFRS Software and Software-Related Service Revenue Increased 9% at Constant Currencies (4% at Actual Currencies to 3.06 Billion Impacted by Strong Currency Headwinds)

Broad Adoption of SAP HANA as the Real-Time Business Platform: More Than 3,200 HANA Customers, Approaching 1,000 Customers for Business Suite on HANA, Vibrant Ecosystem with More Than 1,200 Start-Ups Developing on HANA Platform

Growing Operating Profit and Accelerating Shift to the Cloud: Non-IFRS Operating Profit Increased 7% at Constant Currencies (2% at Actual Currencies to 919 Million Impacted by Strong Currency Headwinds)

SAP is successfully transitioning to the cloud demonstrated by fast growth in cloud and a solid performance in the core business, which drove revenue growth in the first quarter 2014. Non-IFRS cloud subscriptions and support revenue increased 38% at constant currencies (32% at actual currencies). Non-IFRS software and support revenue increased 7% at constant currencies (2% at actual currencies). Non-IFRS software and software-related service revenue grew 9% at constant currencies (4% at actual currencies).

We are well on our way to becoming THE cloud company powered by SAP HANA with fast growth in the cloud and broad adoption of HANA as the real-time business platform, said Bill McDermott and Jim Hagemann Snabe, Co-CEOs of SAP. We offer our entire Business Suite in the cloud and are leading the market with the most comprehensive end-to-end HR cloud solution. And our customers can manage all workers, goods and services through the world s largest business network in the SAP cloud.

Our 9% constant currency growth in non-IFRS software and software-related service revenue puts us ahead of our annual outlook growth range, said Werner Brandt, CFO of SAP. We slightly increased our operating margin while accelerating our cloud business. Operating profit was up 7% on a non-IFRS constant currency basis in the quarter driving strong operating cash flow, which increased by 9% to 2.35 billion. This result brought us back to positive net liquidity in a relatively short time frame after sizable acquisitions in the past two years. SAP s annual cloud revenue run rate is now approaching 1.1 billion or $1.5 billion. Non-IFRS calculated cloud billings increased 36% year-over-year at constant currencies.

2014 Al Bawaba (Albawaba.com) Provided by Syndigate.info , an Albawaba.com company
COPYRIGHT 2014 Al Bawaba (Middle East) Ltd.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2014 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Mena Report
Article Type:Financial report
Date:Apr 17, 2014
Words:446
Previous Article:Germany : BASF to build new world-scale plant for specialty amines in Ludwigshafen.
Next Article:Germany : ILA 2014: Rohde & Schwarz presents its portfolio for safer airborne radiocommunications.
Topics:

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters