SAP SE First Quarter 2024 Results
Christian Klein, CEO
Dominik Asam, CFO
April 22, 2024
Public
First Quarter 2024 Results Presentation | April 22, 2024
Safe Harbor Statement
During this presentation we will make 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.
2024 SAP SE or an SAP affiliate company. All rights reserved. ǀ PUBLIC | 2 |
First Quarter 2024 Results Presentation | April 22, 2024
We're off to a strong start in 2024
Current cloud backlog
- millions
14,179
- +27% (+28% @cc)
Cloud revenue
- millions
3,928
- +24% (+25% @cc)
Cloud ERP Suite revenue
- millions
3,167
- +31% (+32% @cc)
Cloud revenue in € millions (yoy @cc)
Cloud gross profit in € millions (yoy @cc)
2.669 | |||
2.535 | (+30%) | ||
2.368 | (+28%) | ||
2.249 | (+23%) | ||
(+27%) |
Q1 23 | Q2 23 | Q3 23 | Q4 23 |
2.849
(+28%)
Q1 24
2024 SAP SE or an SAP affiliate company. All rights reserved. ǀ PUBLIC | All numbers are in € millions, non-IFRS unless otherwise stated, SAP continuing operations excl. Qualtrics |
4
First Quarter 2024 Results Presentation | April 22, 2024
2024 SAP SE or an SAP affiliate company. All rights reserved. ǀ PUBLIC | 5 |
First Quarter 2024 Results Presentation | April 22, 2024
We aim to accelerate total revenue growth through 2027
>37.5
10% CAGR2 [23-25]
31.2
Total revenue
>21.5 | |||
26% CAGR2 | |||
[23-25] | |||
17.0 - 17.3 | |||
Cloud revenue | 13.7 | ||
~10.0 | |||
Operating profit1 | |||
6.5 | 7.6 - 7.9 | 24% CAGR2 | |
[23-25] | |||
2023 | 2024 | 2025 | |
Actual | Outlook | Ambition |
Aiming to accelerate
through 2027
2027
RISE with SAP powered by a CLEAN CORE via BTP
still with significant potential in installed base and in cross-selling
GROW with SAP
with accelerated traction in the (net new) mid-market allowing for significant cross-sell potential
Innovation
with Business AI commercialized throughout the portfolio and Growth Areas close to our core
1: New non-IFRS definition incl. share-based compensation; estimates for historic data (2021-2022) | 2: Compound Annual Growth Rate adjusted for the Ambition 2025 USD rate assumption of 1.10 USD/ EUR | |
2024 SAP SE or an SAP affiliate company. All rights reserved. ǀ PUBLIC | 6 |
First Quarter 2024 Results Presentation | April 22, 2024
RISE & GROW have significant untapped growth potential
with Cloud ERP & BTP
RISE with SAP
On Premise
Business
transformation
via
clean core*
GROW with SAP
Net New
On Premise
Private Cloud | remaining support revenue |
conversion potential at 2-3x1 | |
ü | Innovation | ||
extensibility potential per € | ü | Modularity | |
of software spend | |||
ü | Scalability | ||
Public Cloud | ü | Integration | |
net new customer share | |||
in Q1 |
into LoB portfolio
Supply chain management
Human capital management
Spend
management and business network
Customer
relationship management
Business
Technology
Platform
1. Total Year 2023 | |
2024 SAP SE or an SAP affiliate company. All rights reserved. ǀ PUBLIC *clean core: Approach to get and keep S/4HANA Cloud, private edition up-to-date, documented, unmodified, consistent, efficient and cloud compliant | 7 |
First Quarter 2024 Results Presentation | April 22, 2024
Achieve real-world results with SAP Business AI
1 | Joule | ||||
2 | |||||
Cloud | Supply chain | Human capital | Spend | Customer | Business |
relationship | Technology | ||||
ERP | management | management | management | ||
management | Platform | ||||
3
1 Joule
Unified copilot experience across our portfolio
2 AI Capabilities
Embedded or customized
AI by partner, customer, or SAP
3 AI Foundation
Integrated enterprise data, security, and compliance
2024 SAP SE or an SAP affiliate company. All rights reserved. ǀ PUBLIC | 8 |
First Quarter 2024 Results Presentation | April 22, 2024
SAP Q1 2024 Financial Results
Current cloud | Total revenue | Cloud & Software | Cloud revenue | Cloud ERP Suite |
backlog | revenue | revenue | ||
€ millions | € millions | € millions | € millions | € millions |
14,179 | 8,041 | 6,960 | 3,928 | 3,167 |
▲ +27% (+28% @cc) | ▲ +8% (+9% @cc) | ▲ +9% (+11% @cc) | ▲ +24% (+25% @cc) | ▲ +31% (+32% @cc) |
Cloud gross profit | Gross profit | Operating profit | |||
(Cloud gross margin in%) | (Gross margin in %) | ||||
€ millions | € millions | € millions | |||
IFRS | Non-IFRS | IFRS | Non-IFRS | IFRS | Non-IFRS |
2,837 | 2,849 | 5,762 | 5,774 | -787 | 1,533 |
72.2% | 72.5% | 71.7% | 71.8% | ||
▲ +27% | ▲ +27% (+28% @cc) | ▲ +9% | ▲ +9% (+10% @cc) | ▼ N/A | ▲ +16% (+19% @cc) |
2024 SAP SE or an SAP affiliate company. All rights reserved. ǀ PUBLIC | 10 |
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SAP SE published this content on 22 April 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 April 2024 20:38:02 UTC.
