Frankfurt The strains of the war in Ukraine overshadowed the accelerated growth at SAP. Operating profit fell by seven percent to 1.68 billion euros in the second quarter on a currency-adjusted basis, as the software group announced on Thursday.
Against this background, the company only expects a result of EUR 7.6 to 7.9 billion for the full year, instead of EUR 7.8 to 8.25 billion as before. Here, the withdrawal of Russia and Belarus with about 350 million euros had a negative impact.
By contrast, revenues increased in the second quarter, especially in the important cloud business. Adjusted for currency effects, they rose by about a quarter to EUR 3.06 billion. The order backlog in this area rose similarly sharply, reaching a volume of 10.4 billion euros. Total revenues rose five percent to 7.52 billion euros and exceeded analyst expectations of an average of 7.32 billion euros.
“Our transition to the cloud business is proceeding faster than planned and we have exceeded sales expectations,” said company CEO Christian Klein. “Cloud revenues have now become the largest revenue stream.“