Walldorf based SAP, the company which advertises an awful lot at airports, has posted its third quarter earnings ending 30 September 2011.
It has been doing very well since losing the action man Apotheker to HP.SAP posted its seventh consecutive quarter of double digit growth in the thrilling non-IFRS software, and software-related service revenues. The net profit after tax hit €1.74 billion for the quarter, a 150 percent boost from the same time last year.
SAP’s operating cash flow for the first nine months of 2011 sat at €3 billion, or a 45 percent increase from the same time last year.
While many other companies in the enterprise space had been considering culls, SAP’s workforce increased three percent.
In a statement, Bill McDermott, co-CEO, highlighted SAP’s exceptional software revenue growth. In fact, the fastest rate the company has seen in a decade. McDermott claimed that’s because “customers are shifting their investments to software that helps them grow and innovate.”
CFO Werner Brandt bragged that the Apotheker-less enterprise company has been doing particularly well. “Our momentum puts us on pace to achieve a record cash flow year,” he said. “Continued efficiency gains combined with operational excellence led to a very strong operating margin performance.”
SAP’s business outlook is optimistic. It feels that as companies carry on investing in IT – and SAP’s thrilling software – it will continue to grow. However, its outlook reported in July is unchanged.
Some of its favourite customer wins include Union Steel, Total SA, AOK, Unilver and American Railcar Industries, which are all as dynamically entertaining as they sound. Just like SAP!