SAP Announces Q4 and FY 2024 Results
SAP reported strong financial results for Q4 and FY 2024, with cloud revenue growing 25% to €17.14 billion and total revenue up 10% to €34.18 billion. The company's current cloud backlog reached €18.1 billion, up 32%, while total cloud backlog grew to €63.3 billion, up 43%.
Key highlights include Cloud ERP Suite revenue increasing 33% and the share of more predictable revenue rising to 83%. While IFRS operating profit declined 20% due to restructuring expenses of €3.1 billion, non-IFRS operating profit increased 25% to €8.15 billion.
For 2025, SAP expects cloud revenue of €21.6-21.9 billion (26-28% growth), cloud and software revenue of €33.1-33.6 billion (11-13% growth), and non-IFRS operating profit of €10.3-10.6 billion. The company announced a transformation program to conclude in early 2025, with total restructuring costs estimated at €3.2 billion.
SAP ha riportato risultati finanziari solidi per il Q4 e l'anno fiscale 2024, con un fatturato nel cloud che è cresciuto del 25% raggiungendo i 17,14 miliardi di euro e un fatturato totale aumentato del 10% a 34,18 miliardi di euro. L'attuale backlog del cloud dell'azienda ha raggiunto i 18,1 miliardi di euro, con un incremento del 32%, mentre il backlog totale del cloud è cresciuto a 63,3 miliardi di euro, con un aumento del 43%.
Tra i principali punti salienti, il fatturato della Cloud ERP Suite è aumentato del 33% e la quota di fatturato più prevedibile è salita all'83%. Sebbene l'utile operativo secondo gli IFRS sia diminuito del 20% a causa delle spese di ristrutturazione di 3,1 miliardi di euro, l'utile operativo non-IFRS è aumentato del 25% a 8,15 miliardi di euro.
Per il 2025, SAP prevede un fatturato cloud di 21,6-21,9 miliardi di euro (crescita del 26-28%), un fatturato complessivo di cloud e software di 33,1-33,6 miliardi di euro (crescita dell'11-13%) e un utile operativo non-IFRS di 10,3-10,6 miliardi di euro. L'azienda ha annunciato un programma di trasformazione che si concluderà all'inizio del 2025, con costi di ristrutturazione totali stimati a 3,2 miliardi di euro.
SAP reportó resultados financieros sólidos para el cuarto trimestre y el año fiscal 2024, con ingresos por nube creciendo un 25% alcanzando los 17.14 mil millones de euros y un ingreso total aumentando un 10% a 34.18 mil millones de euros. El backlog actual de la nube de la compañía alcanzó los 18.1 mil millones de euros, un incremento del 32%, mientras que el backlog total de la nube creció a 63.3 mil millones de euros, con un aumento del 43%.
Los aspectos más destacados incluyen un aumento del 33% en los ingresos de la suite ERP en la nube y una proporción de ingresos más predecible que alcanzó el 83%. Aunque la ganancia operativa bajo IFRS disminuyó un 20% debido a costos de reestructuración de 3.1 mil millones de euros, la ganancia operativa no-IFRS aumentó un 25% a 8.15 mil millones de euros.
Para 2025, SAP espera ingresos en la nube de 21.6-21.9 mil millones de euros (crecimiento del 26-28%), ingresos de nube y software de 33.1-33.6 mil millones de euros (crecimiento del 11-13%), y una ganancia operativa no-IFRS de 10.3-10.6 mil millones de euros. La compañía anunció un programa de transformación que concluirá a principios de 2025, con costos de reestructuración totales estimados en 3.2 mil millones de euros.
SAP는 2024년 4분기 및 회계연도에 대해 강력한 재무 실적을 보고했으며, 클라우드 수익은 25% 증가하여 171억 4천만 유로에 이르고, 전체 수익은 10% 증가하여 341억 8천만 유로에 이르렀습니다. 회사의 현재 클라우드 백로그는 181억 유로에 도달하여 32% 증가했으며, 전체 클라우드 백로그는 633억 유로로 43% 증가했습니다.
주요 하이라이트로는 클라우드 ERP 스위트 수익이 33% 증가하고, 더 예측 가능한 수익 비율이 83%로 상승한 것입니다. IFRS 기준 운영 이익은 31억 유로의 구조 조정 비용으로 인해 20% 감소했지만, 비 IFRS 기준 운영 이익은 25% 증가하여 81억 5천만 유로에 이르렀습니다.
2025년을 위해 SAP는 클라우드 수익이 216-219억 유로(26-28% 성장), 클라우드 및 소프트웨어 수익이 331-336억 유로(11-13% 성장), 비 IFRS 기준 운영 이익이 103-106억 유로일 것으로 예상하고 있습니다. 회사는 2025년 초에 끝날 변혁 프로그램을 발표했으며, 총 구조 조정 비용은 32억 유로로 추정됩니다.
SAP a annoncé des résultats financiers solides pour le quatrième trimestre et l'exercice fiscal 2024, avec des revenus cloud en hausse de 25% à 17,14 milliards d'euros et des revenus totaux en hausse de 10% à 34,18 milliards d'euros. Le backlog cloud actuel de l'entreprise a atteint 18,1 milliards d'euros, en hausse de 32%, tandis que le backlog total du cloud a augmenté à 63,3 milliards d'euros, en hausse de 43%.
Parmi les points forts, le chiffre d'affaires de la suite ERP cloud a augmenté de 33% et la part des revenus plus prévisibles a atteint 83%. Bien que le bénéfice opérationnel selon les normes IFRS ait diminué de 20% en raison des coûts de restructuration de 3,1 milliards d'euros, le bénéfice opérationnel non-IFRS a augmenté de 25% à 8,15 milliards d'euros.
Pour 2025, SAP prévoit des revenus cloud de 21,6 à 21,9 milliards d'euros (croissance de 26 à 28%), des revenus cloud et logiciels de 33,1 à 33,6 milliards d'euros (croissance de 11 à 13%) et un bénéfice opérationnel non-IFRS de 10,3 à 10,6 milliards d'euros. L'entreprise a annoncé un programme de transformation qui devrait se terminer début 2025, avec des coûts de restructuration totaux estimés à 3,2 milliards d'euros.
SAP hat starke Finanzzahlen für das vierte Quartal und das Geschäftsjahr 2024 berichtet, wobei die Cloud-Umsätze um 25% auf 17,14 Milliarden Euro gestiegen sind und der Gesamtumsatz um 10% auf 34,18 Milliarden Euro zugenommen hat. Der aktuelle Cloud-Backlog des Unternehmens erreichte 18,1 Milliarden Euro, was einem Anstieg von 32% entspricht, während der gesamte Cloud-Backlog auf 63,3 Milliarden Euro anwuchs, was einem Zuwachs von 43% entspricht.
Wichtige Highlights sind der Anstieg des Umsatzes der Cloud-ERP-Suite um 33% und der Anteil der vorhersehbareren Einnahmen, der auf 83% stieg. Während der operative Gewinn gemäß IFRS um 20% aufgrund von Restrukturierungskosten in Höhe von 3,1 Milliarden Euro zurückging, stieg der operative Gewinn ohne IFRS um 25% auf 8,15 Milliarden Euro.
Für 2025 erwartet SAP Cloud-Umsätze von 21,6 bis 21,9 Milliarden Euro (26-28% Wachstum), Cloud- und Software-Umsätze von 33,1 bis 33,6 Milliarden Euro (11-13% Wachstum) und einen Betriebsergebnis ohne IFRS von 10,3 bis 10,6 Milliarden Euro. Das Unternehmen kündigte ein Transformationsprogramm an, das Anfang 2025 abgeschlossen sein wird, mit geschätzten Gesamtrestrukturierungskosten von 3,2 Milliarden Euro.
- Cloud revenue grew 25% to €17.14 billion in FY2024
- Total cloud backlog increased 43% to €63.29 billion
- Cloud ERP Suite revenue up 33% to €14.17 billion
- Non-IFRS operating profit increased 25% to €8.15 billion
- Share of more predictable revenue increased to 83%
- IFRS operating profit declined 20% to €4.66 billion
- Free cash flow decreased 19% to €4.11 billion
- Software licenses revenue declined 21% to €1.40 billion
- Restructuring expenses of approximately €3.1 billion
- IFRS earnings per share decreased 14% to €2.68
Insights
SAP's FY2024 results reveal a compelling transformation story marked by three critical developments: cloud acceleration, AI integration and operational optimization.
The increase in predictable revenue to
The integration of AI into
Regional performance shows notable strength in APJ and EMEA, with China, France, India and Italy delivering outstanding results. This geographic diversification helps mitigate market-specific risks while creating multiple growth vectors.
The transformation program, while resulting in
The 2025 outlook, projecting cloud revenue growth of
- SAP meets or exceeds all financial outlook parameters for FY2024
- Current cloud backlog of
€18.1 billion , up32% and up29% at constant currencies - Total cloud backlog of
€63.3 billion , up43% and up40% at constant currencies - Cloud revenue up
25% and up26% at constant currencies in FY2024 - Cloud ERP Suite revenue up
33% and up34% at constant currencies in FY2024 - Total revenue up
10% and up10% at constant currencies in FY2024 - IFRS operating profit down
20% , non-IFRS operating profit up25% and up26% at constant currencies in FY2024 - 2025 outlook anticipates accelerating cloud revenue growth
WALLDORF,
Christian Klein, CEO:
Q4 was a strong finish to the year, with half of our cloud order entry including AI. Looking at the full year, we exceeded our cloud goals, accelerating cloud revenue and current cloud backlog growth against a much larger base. Total cloud backlog now stands at
Dominik Asam, CFO:
We are pleased with the strong close to 2024, where we exceeded our cloud and software revenue, non-IFRS operating profit, and free cash flow outlook. With current cloud backlog growth of
Financial Performance
Group results at a glance – Fourth quarter 2024
IFRS | Non-IFRS1 | |||||||
€ million, unless otherwise stated | Q4 2024 | Q4 2023 | ∆ in % | Q4 2024 | Q4 2023 | ∆ in % | ∆ in % | |
SaaS/PaaS | 4,585 | 3,515 | 30 | 4,585 | 3,515 | 30 | 30 | |
Thereof Cloud ERP Suite2 | 3,949 | 2,931 | 35 | 3,949 | 2,931 | 35 | 35 | |
Thereof Extension Suite3 | 636 | 584 | 9 | 636 | 584 | 9 | 6 | |
IaaS4 | 123 | 184 | –33 | 123 | 184 | –33 | –33 | |
Cloud revenue | 4,708 | 3,699 | 27 | 4,708 | 3,699 | 27 | 27 | |
Cloud and software revenue | 8,267 | 7,382 | 12 | 8,267 | 7,382 | 12 | 11 | |
Total revenue | 9,377 | 8,468 | 11 | 9,377 | 8,468 | 11 | 10 | |
Share of more predictable revenue (in %) | 81 | 77 | 4pp | 81 | 77 | 4pp | ||
Cloud gross profit | 3,429 | 2,658 | 29 | 3,458 | 2,669 | 30 | 29 | |
Gross profit | 6,943 | 6,204 | 12 | 6,972 | 6,216 | 12 | 12 | |
Operating profit (loss) | 2,016 | 1,902 | 6 | 2,436 | 1,969 | 24 | 24 | |
Profit (loss) after tax from continuing operations | 1,616 | 1,201 | 35 | 1,619 | 1,302 | 24 | ||
Profit (loss) after tax5 | 1,616 | 1,201 | 35 | 1,619 | 1,302 | 24 | ||
Earnings per share - Basic (in €) from continuing operations | 1.37 | 1.05 | 31 | 1.40 | 1.12 | 24 | ||
Earnings per share - Basic (in €)5 | 1.37 | 1.05 | 31 | 1.40 | 1.12 | 24 | ||
Net cash flows from operating activities from continuing operations | –551 | 1,926 | NA | |||||
Free cash flow | –918 | 1,670 | NA | |||||
1 For a breakdown of the individual adjustments see table "Non-IFRS Operating Expense Adjustments by Functional Areas" in this Quarterly Statement. |
Group results at a glance – Full year 2024
IFRS | Non-IFRS1 | |||||||
€ million, unless otherwise stated | Q1–Q4 2024 | Q1–Q4 2023 | ∆ in % | Q1–Q4 2024 | Q1–Q4 2023 | ∆ in % | ∆ in % | |
SaaS/PaaS | 16,601 | 12,916 | 29 | 16,601 | 12,916 | 29 | 29 | |
Thereof Cloud ERP Suite revenue2 | 14,166 | 10,626 | 33 | 14,166 | 10,626 | 33 | 34 | |
Thereof Extension Suite revenue3 | 2,435 | 2,290 | 6 | 2,435 | 2,290 | 6 | 6 | |
IaaS4 | 540 | 748 | –28 | 540 | 748 | –28 | –27 | |
Cloud revenue | 17,141 | 13,664 | 25 | 17,141 | 13,664 | 25 | 26 | |
Cloud and software revenue | 29,830 | 26,924 | 11 | 29,830 | 26,924 | 11 | 11 | |
Total revenue | 34,176 | 31,207 | 10 | 34,176 | 31,207 | 10 | 10 | |
Share of more predictable revenue (in %) | 83 | 81 | 3pp | 83 | 81 | 3pp | ||
Cloud gross profit | 12,481 | 9,780 | 28 | 12,559 | 9,821 | 28 | 28 | |
Gross profit | 24,932 | 22,534 | 11 | 25,011 | 22,603 | 11 | 11 | |
Operating profit (loss) | 4,665 | 5,799 | –20 | 8,153 | 6,514 | 25 | 26 | |
Profit (loss) after tax from continuing operations | 3,150 | 3,600 | –13 | 5,279 | 4,321 | 22 | ||
Profit (loss) after tax5 | 3,150 | 5,964 | –47 | 5,279 | 6,103 | –13 | ||
Earnings per share - Basic (in €) from continuing operations | 2.68 | 3.11 | –14 | 4.53 | 3.72 | 22 | ||
Earnings per share - Basic (in €)5 | 2.68 | 5.26 | –49 | 4.53 | 5.51 | –18 | ||
Net cash flows from operating activities from continuing operations | 5,220 | 6,210 | –16 | |||||
Free cash flow | 4,113 | 5,093 | –19 | |||||
1 For a breakdown of the individual adjustments see table "Non-IFRS Operating Expense Adjustments by Functional Areas" in this Quarterly Statement. |
Financial Highlights1
Fourth Quarter 2024
In the fourth quarter, current cloud backlog grew by
Software licenses revenue decreased by
The share of more predictable revenue increased by 4 percentage points to
IFRS cloud gross profit was up
IFRS operating profit was up
IFRS earnings per share (basic) increased
Free cash flow in the fourth quarter came in at –
Full Year 2024
SAP performed against its financial outlook as follows:
Actual 2023 | 2024 Outlook | Revised 2024 Outlook | Actual 2024 | |
Cloud revenue (at constant currencies) | ||||
Cloud and software revenue (at constant currencies) | ||||
Operating profit (non-IFRS, at constant currencies) | ||||
Free cash flow | approx. | |||
Effective tax rate (non-IFRS) | 30.3 % | approx. | approx. | 32.3 % |
As of December 31, total cloud backlog was up
For the full year, cloud revenue was up
The share of more predictable revenue increased by 3 percentage points year over year to
IFRS cloud gross profit was up
IFRS operating profit was down
IFRS earnings per share (basic) decreased
Free cash flow for the full year was down
Non-Financial Performance 2024
Customer Net Promoter Score (NPS) increased 3 points year over year to 12 in 2024, at the upper end of the outlook range.
After dropping to
The proportion of women in executive roles increased 0.3 percentage points to
Total carbon emissions were flat at 6.9 Mt in 2024, while we initially guided for a steady decrease.
Share Repurchase Program
In May 2023, SAP announced a share repurchase program with an aggregate volume of up to
2024 Transformation Program: Focus on scalability of operations and key strategic growth areas
In January 2024, SAP announced a company-wide restructuring program which is anticipated to conclude in early 2025. Overall expenses associated with the program are estimated to be approximately
Business Highlights
In the fourth quarter, customers around the globe continued to choose "RISE with SAP" to drive their end-to-end business transformations. These customers included: BASF, BERNMOBIL, BP International, Brose, Chevron Corporation, Colgate-Palmolive, Conagra Brands, dm-drogerie markt, EY, Ford Motor Company, Fressnapf, Freudenberg, FrieslandCampina, Hannover Medical School, K+S, Lanxess, Menasha Corporation, Mitie, NTPC, NTT DATA, Red Bull, Robert Bosch, Schaeffler Technologies, Schindler Group, The South Carolina Department of Administration, STADA Arzneimittel, and voestalpine.
Coles Group, Commerz Real, General Motors, H.B. Fuller, Hyundai Glovis, MAHLE International, SKF Group, and Trent Limited went live on SAP S/4HANA Cloud in the fourth quarter.
ACTUM Digital, CiboVita, Databricks, Inetum, Medical University of
Key customer wins across SAP's solution portfolio included: ABB, AOK Federal Association, B. Braun Group, Bayer, Digital China, KNAPP, Mengniu, Migros, Mondi, PwC Germany, SA Power Networks, Salling Group, SICK, and Unity Programme.
Ayala Land, Carlisle Companies, CP Foods, IBM, and Tchibo went live on SAP solutions.
In the fourth quarter, SAP's cloud revenue performance was particularly strong in APJ and EMEA and robust in the
For the full year,
On October 8, SAP announced powerful new capabilities that complement and extend Joule, including collaborative AI agents imbued with custom skills to complete complex cross-disciplinary tasks.
On December 3, SAP and AWS announced GROW with SAP on AWS, which will allow customers of all sizes to rapidly deploy SAP's enterprise resource planning (ERP) solution while leveraging the reliability, security and scalability of the world's most broadly adopted cloud.
On December 16, SAP announced the general availability of the SAP Green Ledger solution, the most comprehensive carbon accounting system globally that integrates directly with customers' financial data.
Outlook 2025
The outlook 2025 replaces SAP's former Ambition 2025.
Financial Outlook 2025
For 2025, SAP now expects:
€21.6 – 21.9 billion cloud revenue at constant currencies (2024:€17.14 billion ), up26% to28% at constant currencies.€33.1 – 33.6 billion cloud and software revenue at constant currencies (2024:€29.83 billion ), up11% to13% at constant currencies.€10.3 – 10.6 billion non-IFRS operating profit at constant currencies (2024:€8.15 billion ), up26% to30% at constant currencies.- Approximately
€8.0 billion free cash flow at actual currencies (2024:€4.22 billion ), based on updated free cash flow definition (see section (N) 2025 Reporting Changes). - An effective tax rate (non-IFRS) of approximately
32% (2024:32.3% )2.
The company also expects current cloud backlog growth to slightly decelerate in 2025.
While SAP's 2025 financial outlook for the income statement parameters is at constant currencies (including an average exchange rate of
Currency Impact Assuming December 31, 2024 Rates Apply for 2025
In percentage points | Q1 2025 | FY 2025 |
Cloud revenue growth | +2.5pp | +2.5pp |
Cloud and software revenue growth | +2.0pp | +2.0pp |
Operating profit growth (non-IFRS) | +5.0pp | +4.0pp |
This includes an exchange rate of
Non-Financial Outlook 2025
For 2025, SAP now expects:
- A Customer Net Promoter Score of 12 to 16.
- The Employee Engagement Index to be in a range of
74% to78% . - To steadily increase the share of women in executive roles.
- To steadily decrease carbon emissions across the relevant value chain.
Additional Information
This press release and all information therein is preliminary and unaudited. Due to rounding, numbers may not add up precisely. The full Q4 and FY 2024 Quarterly Statement can be downloaded from: https://www.sap.com/investors/sap-2024-q4-statement.
SAP Annual General Meeting of Shareholders
The Annual General Meeting of Shareholders will take place on May 13, 2025, as a virtual event. The whole event will be webcast on the Company's website and online voting options will be available for shareholders. Further details will be published at https://www.sap.com/agm in early April.
SAP Performance Measures
For more information about our key growth metrics and performance measures, their calculation, their usefulness, and their limitations, please refer to the following document on our Investor Relations website: https://www.sap.com/investors/performance-measures
Webcast
SAP senior management will host a financial analyst conference call on Tuesday, January 28th at 07:00 AM (CET) / 06:00 AM (GMT) / 1:00 AM (EST) / Monday, January 27th 10:00 PM (PST), followed by a press conference at 10:00 AM (CET) / 9:00 AM (GMT) / 4:00 AM (EST) / 1:00 AM (PST). Both conferences will be webcast on the Company's website at https://www.sap.com/investor and will be available for replay. Supplementary financial information pertaining to the fourth quarter results can be found at https://www.sap.com/investor.
About SAP
As a global leader in enterprise applications and business AI, SAP (NYSE:SAP) stands at the nexus of business and technology. For over 50 years, organizations have trusted SAP to bring out their best by uniting business-critical operations spanning finance, procurement, HR, supply chain, and customer experience. For more information, visit www.sap.com.
For customers interested in learning more about SAP products: | |
Global Customer Center: | +49 180 534-34-24 |
United States Only: | +1 (800) 872-1SAP (+1-800-872-1727) |
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 2023 Annual Report on Form 20-F.
© 2025 SAP SE. All rights reserved.
SAP and other SAP products and services mentioned herein as well as their respective logos are trademarks or registered trademarks of SAP SE in
1 The Q4 2024 results were also impacted by other effects. For details, please refer to the disclosures on page 23 of this document.
2 The effective tax rate (non-IFRS) is a non-IFRS financial measure and is presented for supplemental informational purposes only. We do not provide an outlook for the effective tax rate (IFRS) due to the uncertainty and potential variability of gains and losses associated with equity securities, which are reconciling items between the two effective tax rates (non-IFRS and IFRS). These items cannot be provided without unreasonable efforts but could have a significant impact on our future effective tax rate (IFRS).
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SOURCE SAP SE
FAQ
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