SAP 1Q Net Profit Rose; Confirms Pre-Announced Figures
22 April 2021 - 3:37PM
Dow Jones News
By Mauro Orru
SAP SE said Thursday that net profit for the first quarter rose
on year, while it confirmed an increase in operating profit as
pre-announced earlier this month.
Reporting on a non-IFRS basis, the German software company said
first-quarter net profit rose to 1.65 billion euros ($1.99 billion)
from EUR1.02 billion in the first quarter of 2020.
The company said earlier this month that operating profit rose
to EUR1.74 billion from EUR1.48 billion, with operating margin
climbing to 27.4% from 22.7%.
Total revenue fell to EUR6.35 billion from EUR6.52 billion as
pre-announced, with cloud revenue rising to EUR2.15 billion from
EUR2.01 billion and software-licenses revenue increasing to EUR483
million from EUR451 million.
SAP also reiterated the guidance for 2021 that it raised earlier
in the month, projecting non-IFRS operating profit at constant
currencies between EUR7.8 billion and EUR8.2 billion. Non-IFRS
cloud revenue at constant currencies for the year should come in
between EUR9.2 billion and EUR9.5 billion, while non-IFRS cloud and
software revenue at constant currencies should be between EUR23.4
billion and EUR23.8 billion.
"The first quarter of 2021 was unique in many ways. We had the
highest order entry growth across cloud and software in five years
while posting the strongest increase in non-IFRS operating profit
and margin in a decade," SAP's Chief Financial Officer Luka Mucic
said.
Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94
(END) Dow Jones Newswires
April 22, 2021 01:22 ET (05:22 GMT)
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