SAP financial figures offer few surprises, expects cloud transformation by 2018
January 20, 2015
Grazed from CloudTech. Author: James Bourne.
SAP has released its latest financial figures, and it’s to be expected; cloud subscriptions up, software subscriptions down, overall numbers ticking over, and a pledge that cloud profits will exceed software license revenues by 2018. The company has again shifted its long term goals, with a 2017 operating profit target now of €6.3bn to €7bn, from a previous total of €7.7bn – and it’s all due to the company’s aggressive shift towards cloud.
The full year figures weren’t anything to write home about, but it’s all going in the right direction. Non-IFRS operating profit stood at €5.64bn for 2014, an uptick of 3% on the year before, while total revenue stood at €17.58bn, an increase of 4%. The meatiest figures however were in the software and support sections. Cloud subscriptions and support went up 45% year on year to €1.1bn, while traditional software numbers were down 3%, to €4.4bn…
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