SAP highlights cloud business success on publication of full year results for 2017
SAP has revealed its accounts for both the final quarter and full year for 2017, with a particular emphasis on its surge in cloud revenues.
Over the year as a whole, earnings from its cloud and software business rose by 8% - with the last quarter seeing a notable 31% rise in cloud bookings.
Launched in 2012, SAP Cloud Platform allows partners to build cloud applications on its open platform services. Cloud subscriptions and support revenue made the German company €3.8bn over the course of the 12 months.
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"We ended the year strongly with new cloud bookings surging 31% on top of a stellar prior Q4," said CFO Luka Mucic. "This paves the way for the strong growth and margin expansion we expect in 2018 and beyond."
Total revenues across the company grew from €23.461bn in 2016 to €23.464bn in 2017, with operating cashflow up 9% to €5bn.
To help businesses through digital transformations, SAP is currently embarked on a transition programme to its newest ERP platform SAP S/4Hana, which it revealed in 2015 and which currently has 7,900 users.