Business software giant SAP has reported strong double-digit growth in sales and profit for last year, with software leading the charge.
Europe’s biggest software firm made sales worth €12.5bn and a profit of just over €4bn in 2011. These were 15% and 19% increases on 2010, respectively.
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Software sales grew 22% last year to €3.97bn, while sales of support contracts increased 14% to €6.97bn.
“This record performance was driven by strong top line results, with double-digit software revenue growth in all regions, resulting in year-over-year total revenue growth of €1.7bn and a record cash flow,” said Werner Brandt, CFO of SAP.
Brandt said SAP is aiming to make sales worth €20bn in 2015.