SAP confirms forecasts

Frankfurt - German software giant SAP said Thursday it is sticking to its full-year forecasts for 2014 after profits rose slightly in the first quarter.

SAP said that net profit rose by 3.0 percent to 534 million euros ($739 million) in the period from January to March, underlying or operating profit was up 12 percent at 723 million euros on a 3.0-percent increase in revenues to 3.698 billion euros.

Logo of German software maker SAP. Credit: Reuters

SAP publishes two sets of accounts, one according to international financial reporting standards (IFRS) and another according to national accounting standards or non-IFRS.

It provides forecasts based solely on non-IFRS data.

“Our outlook for the full-year 2014 ... remains unchanged,” SAP said.

Operating profit was projected to come out at 5.8-6.0 billion euros, which would represent an increase of 6.0-9.0 percent from 2013, the software maker said. - SAP