Europe’s largest software manufacturer SAP is making further progress with the sale of its software for use over the Internet. In the first quarter, sales of such products from continuing operations increased by 24 percent year-on-year, as the Dax heavyweight announced in Walldorf. The order backlog in the division continued to grow strongly.

Overall, group revenues increased by 10 percent to 7.44 billion euros. SAP increased earnings before interest and taxes adjusted for special effects by 12 percent to 1.88 billion euros – that was about as much as experts had previously estimated. The US subsidiary Qualtrics, whose sale SAP recently announced, is already excluded from the values.

The bottom line is that net profit fell by 19 percent to 509 million euros. A year ago, however, increases in the value of company investments in start-ups had boosted profits significantly.