SAP resilient amid COVID-19 crisis
SAP has reported its Q2 and half-year results which show a sharp increase in operating and free cash flow and a cloud backlog that is up by 21 percent to €6.65bn.
SAP’s half-year results showed total revenue (IFRS) increased by 2 percent to €13.26bn, cloud revenues (IFRS) increased by 21 percent to €4.05bn, and operating profit increased by more than 100 percent to €2.49bn.
Christian Klein, SAP CEO said: “This quarter demonstrated that our intelligent enterprise strategy clearly resonates with customers around the world. More than ever, the pandemic has proven that digitalisation is no longer an option but a must-have to withstand challenging times and to achieve desired business outcomes. We will continue to invest in innovative offerings for our customers to drive business transformations and run complex business processes. We also aim to expand the eco-system on our business technology platform to complement our solutions and foster growth.”