SAP, the world’s largest software provider, reported a surge in fourth quarter profits capping off what it described as the ‘best year’ in its 40-year history.
Net profit for the quarter almost tripled to €1.2bn (£1bn) compared to the same period last year, while total revenue increased by 11% to €4.5bn.
Full-year net profit increased to €3.4bn, while revenues reached €14.2bn.
SAP said it expects software and software-related services revenue to increase by 10-12% in 2012 and that operating profit is expected to increase from €4.7bn to between €5.05bn and €5.25bn, or as much as 11.5%.
“SAP performed exceptionally well in 2011, clearly exceeding its guidance for revenue and profit,” said SAP’s chief financial officer Werner Brandt.
“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.”