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Business

SAP raises revenue forecast

Europe's biggest software company, SAP of Germany, has raised its revenue forecast for the whole of 2012. The company sees itself in good shape after the crucial acquisition of a US cloud computing firm.

German software company SAP on Wednesday revised its 2012 revenue estimates to reflect the firm's growing confidence in its current market position.

SAP said it had now penciled in a 10.5 to 12.5-percent increase in full-year software and software-related sales, up from 11.35 billion euros ($14.7 billion) in 2011. "Assuming that the macroeconomic environment does not deteriorate, we expect to reach the upper end of the projected growth range," the company said in a statement.

The firm said it reckoned with over 5.05 billion euros in 2012 profits, compared with 4.7 billion euros in the previous year.

Clouded awareness?

SAP's third-quarter operating profit looked impressive at 1.24 billion euros, marking a 10-percent increase. But net profit slumped by 3.0 percent as earnings were impacted negatively by currency hedging in connection with acquisition policies.

SAP completed the takeover of California-based Ariba, a specialist in cloud computing. The German software giant aims to become the continent's or even the world's leading firm dealing with cloud-based business networks.

Through Ariba and other recent takeovers, SAP has increased its total workforce by roughly 6,000 to total 61,344 globally.

hg/hc  (AFP, dapd)