SAP Announces Further Share Repurchase Program

Rhea-AI Summary

SAP SE (NYSE: SAP) has announced a new share repurchase program of up to €500 million, set to run from August 1 to December 31, 2022. This initiative, authorized at the Annual General Meeting on May 17, 2018, will primarily support employee share-based compensation plans. This follows a previous buyback of 14 million shares for approximately €1.5 billion in 2020 and another 10 million shares for about €1 billion in the first half of 2022. The program aims to enhance shareholder value and maintain confidence in the company's future.

Positive

• New share repurchase program of €500 million enhances shareholder value.
• Continued commitment to share buybacks following previous programs.

Negative

• None.

WALLDORF, Germany, July 21, 2022 /PRNewswire/ -- SAP SE (NYSE: SAP) today announced a new share repurchase program. The program, with a volume of up to €500 million, is planned to be executed in the period between August 1 and December 31, 2022. It will be implemented based on the authorization granted by the Annual General Meeting of SAP SE on May 17, 2018, and in compliance with the restrictions set forth therein. Repurchased shares will primarily be used to service awards granted under share-based compensation plans for employees.

The new share repurchase program follows SAP's 2020 repurchase of around 14 million shares for about €1.5 billion and the repurchase of around 10 million shares for about €1 billion in the first half of 2022.

About SAP
SAP's strategy is to help every business run as an intelligent enterprise. As a market leader in enterprise application software, we help companies of all sizes and in all industries run at their best: SAP customers generate 87% of total global commerce. Our machine learning, Internet of Things (IoT), and advanced analytics technologies help turn customers' businesses into intelligent enterprises. SAP helps give people and organizations deep business insight and fosters collaboration that helps them stay ahead of their competition. We simplify technology for companies so they can consume our software the way they want – without disruption. Our end-to-end suite of applications and services enables business and public customers across 25 industries globally to operate profitably, adapt continuously, and make a difference. With a global network of customers, partners, employees, and thought leaders, SAP helps the world run better and improve people's lives. For more information, visit www.sap.com.

This document contains forward-looking statements], which are predictions, projections, or other statements about future events. These statements are based on current expectations, forecasts, and assumptions that are subject to risks and uncertainties that could cause actual results and outcomes to materially differ.  Additional information regarding these risks and uncertainties may be found in our filings with the Securities and Exchange Commission, including but not limited to the risk factors section of SAP's 2021 Annual Report on Form 20-F."

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SOURCE SAP SE

FAQ

What is the purpose of SAP's new share repurchase program?

The new share repurchase program aims to enhance shareholder value and primarily supports employee share-based compensation plans.

How much is SAP allocating for its new share buyback program?

SAP is allocating up to €500 million for its new share repurchase program.

When is SAP's share repurchase program scheduled to take place?

The share repurchase program is scheduled to run from August 1 to December 31, 2022.

How does SAP's new buyback program compare to previous programs?

This program follows previous buybacks of 14 million shares for €1.5 billion in 2020 and 10 million shares for about €1 billion in early 2022.