WALLDORF SAP SE (NYSE: SAP) today announced its financial results for the first quarter ended March 31, 2021.

Stellar Start to 2021
Fastest Growth in New Cloud Business in Five Years Reaccelerates Current Cloud Backlog, Up 19% at Constant Currencies, to €7.6 Billion

  • S/4HANA Current Cloud Backlog Up 43% At Constant Currencies
    Highlighting SAP’s Accelerated Cloud Transition
  • IFRS EPS Up 29%; Non-IFRS EPS Up 63%
  • Operating Cash Flow Up 3% To €3.09 Billion; Free Cash Flow Up 10% to €2.85 Billion

We are seeing very strong order entry growth across our applications portfolio. And we are just getting started. Our new offering ‘RISE with SAP’ is rapidly becoming a massive accelerator to our customers’ business transformations with our platform at the center. Together with our unique ecosystem of more than 22,000 partners and with a strong innovation pipeline for the year, we are well on track with our strategy to deliver robust cloud growth.

Christian Klein, CEO

The first quarter of 2021 was unique in many ways. We had the highest order entry growth across cloud and software in five years while posting the strongest increase in Non-IFRS operating profit and margin in a decade. Free cash flow was up double-digit compared to a record prior year. In the mid term SAP’s expedited shift to the cloud will accelerate topline growth and significantly increase the resiliency and predictability of our business.”

Luka Mucic, CFO

Read the Q1 2021 Quarterly Statement