Sap Se - SAP STOCK NEWS

SAP SE announced that Chief Technology Officer and Executive Board Member Dr.-Ing. Jürgen Müller will leave the company's Executive Board, effective September 30, 2024. This decision comes after a mutual agreement with the SAP Supervisory Board following an incident at a past company event where Müller's behavior was deemed inappropriate. Müller apologized and took full responsibility for his actions.

Müller played a important role in establishing the SAP Business Technology Platform (BTP), which serves over 23,000 live customers. In the interim, SAP CEO Christian Klein will assume responsibility for most of the Technology and Innovation Board area, while the Global Security & Cloud Compliance team will join the Customer Services & Delivery Board area under Thomas Saueressig.

SAP is actively supporting social enterprises through its corporate social responsibility strategy, which includes knowledge transfer and social procurement. The company's Acceleration Collective initiative, hosted on the TRANSFORM Support Hub, facilitates pro bono consulting for social enterprises. In 2023, 120 SAP employees completed 51 projects, generating an in-kind contribution of $458,835. This initiative benefits both social enterprises and SAP employees, fostering growth and valuable experiential learning.

The press release highlights several successful collaborations, including SAP employees assisting organizations like Faces Up Uganda, Elli Cares, Key Farmers Cameroon, and Alexa Goodman Consulting. These projects ranged from enhancing strategic plans and funding strategies to optimizing online presence and scaling operations.

SAP SE announced that Xerox Holdings Corp. has chosen multiple SAP solutions to transform its enterprise architecture as part of its multi-year Reinvention. Xerox selected the RISE with SAP solution to move to the cloud, adopting a clean core approach to streamline operations across markets and business processes. By implementing SAP S/4HANA Cloud, Xerox aims to reduce IT costs, standardize global processes, and simplify its application landscape.

Xerox will also utilize other cloud solutions, including SAP Business AI, the SAP Customer Experience portfolio, SAP Business Technology Platform (SAP BTP), and supply management solutions. This integrated platform will provide real-time insights across finance, supply chain, and sales functions, enabling greater agility and cost reduction. Additionally, Xerox will leverage SAP's digital supply chain solutions to optimize operations and improve inventory visibility across nearly 145 countries.

SAP SE announced that Executive Board members Scott Russell and Julia White will leave the company on August 31, 2024. Russell, Chief Revenue Officer, helped customers transition to the cloud, while White, Chief Marketing and Solutions Officer, modernized marketing and built product marketing for a cloud-first model. CEO Christian Klein will temporarily lead sales, and product marketing will be integrated with product teams. The SAP Supervisory Board views this as an opportunity to enter the next growth phase, focusing on a Suite- and AI-first strategy. These changes aim to accelerate SAP's transformation and strengthen its position as a leading enterprise software company.

SAP has been recognized as one of the world's most sustainable companies in 2024, ranking 15th out of 500 companies in a study by TIME magazine and Statista. The study measures companies' performance against climate programs and emissions targets. SAP's commitment to sustainability is reflected in its comprehensive portfolio of cloud-based and AI-enabled sustainability solutions, helping customers across 26 industries become more sustainable.

SAP has received numerous sustainability accolades, including:

• 48th position in Corporate Knights' Global 100 ranking
• Top 5% in S&P Global's Corporate Sustainability Assessment
• Gold medal from EcoVadis, ranking in the 94th percentile
• Inclusion in the FTSE4Good Index Series
• 3rd place in IDC Sustainability Index for Software Providers
• AAA rating from MSCI ESG Research
• Low-risk ESG rating from Sustainalytics

These recognitions underscore SAP's role as a leader in sustainable business practices and its commitment to achieving net-zero emissions across its entire value chain by 2030.

SAP announced strong Q2 2024 results, with cloud revenue up 25% to €4.15 billion and total revenue up 10% to €8.29 billion. The company's cloud momentum continued, with current cloud backlog growing 28% to €14.81 billion. Cloud ERP Suite revenue saw significant growth of 33%. While IFRS operating profit decreased 11% due to restructuring expenses, non-IFRS operating profit increased 33% to €1.94 billion. SAP reiterated its 2024 financial outlook and increased its 2025 operating profit ambition to reflect anticipated efficiency gains from its expanded transformation program. The company continues to focus on Business AI and cloud growth, with several major customer wins and partnerships announced during the quarter.

SAP is taking a leading role in the business coalition to end plastic waste, leveraging its software to help customers manage material flows, including plastics. SAP's customers generate almost 90% of the world's global business, giving the company unique insights into the challenges posed by complex regulations and the need to align upstream efforts with downstream solutions.

The company is observing a new trend towards eco modulation, which involves material-level incentives to promote the use of more recyclable materials. SAP believes that businesses can play a important role in eliminating plastic pollution and is committed to supporting this effort through its technology and expertise.

WayCool Foods, India's leading agritech company, has partnered with SAP to implement RISE with SAP and SAP S/4HANA to digitalize its food supply chain. This initiative has resulted in a 96% reduction in food wastage and a 13% increase in farmers' average income. The integrated platform connects data from farmers through processing, warehouses, and retail, transforming the food chain from supplier-driven to demand-driven. WayCool's AI-powered data insights help align food supply with actual market demand, improving efficiency and quality. The company plans to expand its digitalized business model to Southeast Asia, the Middle East, and Africa to promote sustainable agriculture globally.

The EU is set to implement the EU Regulation on Deforestation-free (EUDR) products in December 2024 to combat deforestation and forest degradation. The regulation affects industries including consumer products, chemicals, pharma, agriculture, energy, retail, automotive, and forestry, impacting commodities like cocoa, coffee, soy, wood, palm oil, rubber, and cattle. Companies must perform due diligence, including supplier risk assessments and daily reporting to ensure products are deforestation-free. Non-compliance may lead to fines and reputational risks. SAP's Green Token software is being upgraded to support EUDR compliance, enabling automated due diligence reporting, traceability, and audit history.