The manager places the cloud at the heart of the strategy.
(Photo: AP)
Walldorf Europe’s largest software company SAP boosted growth in the first quarter. However, the investments in the expansion of the business with software for use over the network and the withdrawal from Russia weighed on the result.
The operating result adjusted for special effects fell by four percent to 1.68 billion euros in the first three months of the year compared to the previous year, the Dax heavyweight announced on Friday in Walldorf.
The bottom line is that profits fell by 41 percent to 632 million euros. Sales, on the other hand, rose by eleven percent to almost 7.1 billion euros. The group thus exceeded the experts’ expectations in terms of revenue, but missed them in terms of earnings. The forecasts for the current year were confirmed as expected.
More: SAP in the mid-life crisis: How Germany’s most important tech group is fighting for its future
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