SAP has booked its first Australia profit in six years, thanks to the rapid growth of its cloud division and reduced expenses in the pandemic, but the software giant suffered a worrying revenue hit, particularly in its services division.

The $67 million profit increase in 2020 to $46.3 million came despite an overall 3 per cent slide in revenue to $1.15 billion, with the main culprit being a 16 per cent fall in revenue generated by its services business.