SAP has announced €7.077 billion in first-quarter revenue, up 11 percent from last year.
The outfit which makes management software which no one is quite sure what it does says its Cloud revenue was €2.820 billion, up 31 percent, and nearly 40 percent of the supplier’s overall sales.
The war in Ukraine has had a negative impact on the supplier’s revenue and could result in €300 million in losses during the year.
Its CEO, Christian Klein, put out a statement on 2 March, Standing in solidarity, which expressed support for western government economic sanctions against Russia and announced a battery of humanitarian aid efforts, including the opening up of SAP offices as a shelter for refugees. The statement also announced the stoppage of operations in Russia, and was updated, on 9 March, with an announcement of the suspension of sales in Russia and its ally Belarus.
In the quarterly statement, the company said: “In the first quarter, SAP’s business was impacted by the war in Ukraine. At the beginning of March, SAP stopped all new sales in Russia and Belarus. In addition, SAP started to shut down its cloud operations and intends to stop the support and maintenance of its on-premise products in Russia.
“Current cloud backlog was lowered by approximately €60 million due to the termination of existing cloud engagements, and operating profit by approximately €70 million due to reduced on-premise revenues.”
