Result Center
            

Financial Highlights

• Digital Business momentum continues with bookings growth of 15 percent, Digital Business product revenue growth of 8 percent and margin expansion of 4.6 percentage points year-on-year.
• Transformation delivering revenue and profit expansion with 10 percent total product revenue growth and an operating margin (EBITA, non-IFRS) of 19.9 percent in the first quarter.
• Increasing quality and predictability of revenue with 10 percent recurring revenue growth. Recurring revenue accounted for 89 percent of product revenue.
• 2022 and 2023 organic guidance unchanged supported by solid first-quarter momentum in revenue and profit.
  
• StreamSets acquisition now closed with clear value creation plan initiated to complement continued strong double digit standalone growth.

Strategic Highlights

• Key growth drivers all delivering, with 57 new logo wins, strong retention underpinning Digital Business net retention rate (NRR) above 100, and migration multiplier of 1.5x in the first quarter.
• Product innovation in API Management with cloud-native vendor-agnostic developer portal, improved user experience and new partnerships with Cequence Security, Salt Security and Noname Security driving differentiation.
• New Digital Business innovation driving cross-sell from Adabas & Natural (A&N) with 8 out of top 10 A&N deals in the quarter including Digital Business cross-sell success.
• Salesforce specialization driving success with sales teams now aligned to key growth product areas. Digital Business conversion rate continued to improve year-on-year.