WALLDORF, Germany, July 20, 2016 /PRNewswire/ -- SAP SE (NYSE: SAP)
today announced its financial results for the second quarter and
half year ended June 30, 2016.
"Our groundbreaking new architecture is accelerating momentum
across all businesses – cloud, core, and business networks. As a
result, SAP delivered a unique trifecta of double digit growth in
software, cloud and operating income. Our S/4HANA pipeline has
never been stronger and we confidently reiterate our full year
guidance," said Bill McDermott, SAP
CEO.
"We did what we said we would do – we delivered a strong Q2. I am
proud how SAP is navigating ahead with extraordinary success across
all business dimensions. Driven by our customer led innovation and
our successful business transformation we outperformed the
competition in top and bottom line growth," said Luka Mucic, SAP
CFO.
Business Highlights
Financial Highlights
SAP had strong growth in the cloud. Second quarter IFRS cloud
subscriptions and support revenue grew 30% year-over-year to €720
million. Non-IFRS cloud subscriptions and support revenue rose 30%
year-over-year (33% at constant currencies) to €721 million. New
cloud bookings[1] were up a solid 28% (31% at constant currencies)
in the second quarter and reached €255 million.
The rapidly expanding cloud business together with solid growth
in support revenue continued to drive the share of more predictable
revenue. The total of cloud subscriptions & support revenue and
software support revenue reached 63% of total revenue in the second
quarter 2016, up 1 percentage point.
SAP is significantly outpacing its main competitor in cloud and
software revenue. IFRS cloud and software revenue was €4.36
billion, an increase of 7%. Non-IFRS cloud and software revenue was
€4.36 billion, an increase of 7% (11% at constant currencies).
IFRS operating profit was up 81% to €1.27 billion. Non-IFRS
operating profit grew 9% to €1.52 billion (11% at constant
currencies). IFRS earnings per share increased 73% to €0.68.
Non-IFRS earnings per share increased 2% to €0.82.
For the six months ended June 30,
operating cash flow was €2.92 billion (2015: €2.78 billion), an
increase of 5% year-over-year, and free cash flow increased 1%
year-over-year to €2.52 billion (2015: €2.50 billion)
SAP S/4HANA, SAP's Next Generation Business Suite
SAP S/4HANA momentum remains strong as customers continue to
embrace the benefits of running a live business on a massively
simplified architecture. SAP added more than 500 SAP S/4HANA
customers in the quarter, of which approximately 40% are net new
SAP customers. Furthermore, with the SAP HANA Cloud Platform (HCP)
and its vibrant ecosystem, customers can extend functionalities,
build new applications and integrate across cloud and on-premise.
In addition, SAP HANA Enterprise Cloud continues to offer customers
a secure and fast option to migrate their mission-critical
processes to the cloud. The Hershey Company (USA), the Targin Group (Russia), Cathay Pacific (Hong Kong) and Roy Hill Holdings Pty Ltd.
(Australia) selected SAP S/4HANA
in the second quarter.
Human Capital Management
SAP continues to gain traction with its cloud-based Human Capital
Management solutions. SAP delivers total workforce management
solutions globally, which embed intelligent services to automate
processes. The customer count for SAP SuccessFactors Employee
Central, which is the core of our Human Capital Management
offerings, exceeded 1,250 at the end of the second quarter.
Customer Engagement and Commerce
SAP seamlessly combines customer engagement and commerce (CEC) for
an increasingly omni-channel world. Our hybris solution serves both
B2C and B2B across a wide range of industries, including retail,
telco, financial services, public sector, and manufacturing. SAP is
unique because it also enables businesses to connect the front and
back office in real-time and fulfill ecommerce in one end-to-end
value chain. CEC saw strong double-digit growth across its
on-premise and cloud offerings in the second quarter.
Business Networks
SAP is helping customers of all sizes embrace an increasingly
interdependent world. Each of SAP's business network solutions
connects a large ecosystem of customers, suppliers and partners.
These network solutions are highly synergistic to SAP's other
offerings.
Cloud subscriptions and support revenue in the SAP Business
Network segment was up 21% at constant currencies in the second
quarter. Cloud gross margin in the segment was 76%, up 1 percentage
point.
Approximately 2.2 million connected companies trade over
$820 billion of commerce[2] on the
Ariba network, more than 42 million end users process travel and
expenses effortlessly with Concur and customers managed over 2.6
million flexible workers in approximately 130 countries with the
Fieldglass platform over the past 12 months.
Regional Performance
The Company had a strong performance in the EMEA region,
successfully navigating through the post UK referendum uncertainty,
with an increase in cloud and software revenue of 7% (IFRS) and 11%
(non-IFRS at constant currencies). Cloud subscriptions and support
revenue grew 38% (IFRS) and 41% (non-IFRS at constant currencies).
In EMEA, SAP had strong double-digit software licenses revenue
growth in France, the Netherlands, Switzerland, across Southern Europe and again a solid performance
in Germany. Russia and Germany had very strong double-digit growth in
cloud subscriptions and support revenue.
In the Americas region, the Company grew cloud and software
revenue by 8% (IFRS) and 11% (non-IFRS at constant currencies) and
cloud subscriptions and support revenue by 26% (IFRS) and 29%
(non-IFRS at constant currencies). North
America delivered a solid second quarter and is back on
track with its half year performance. In Latin America, the political and macroeconomic
instability continued. However, SAP had strong double-digit growth
in software licenses revenue in Brazil and Mexico.
In the APJ region cloud and software revenue was up 7% (IFRS)
and 9% (non-IFRS at constant currencies), with cloud subscriptions
and support revenue growing by 44% (IFRS) and 47% (non-IFRS at
constant currencies). In APJ, SAP had strong double-digit software
licenses revenue growth in China
and India, whereas Japan had almost triple-digit growth. All
three countries also had double-digit growth in cloud subscriptions
and support revenue for the quarter.
1 New cloud bookings
consist of order entry of a given period that is expected to be
classified as cloud subscriptions and support revenue and results
from purchases by new customers and from incremental purchases by
existing customers. Consequently, orders to renew existing
contracts are not included. The order amount must be committed.
Consequently, due to their pay-per-use nature, business network
transaction fees which do not include a committed minimum
consumption are not reflected in the bookings metric (e.g. SAP
Ariba and SAP Fieldglass transaction-based fees). Amounts included
in the measures are generally annualized.
|
2 Network spend
volume is the total value of purchase orders transacted on the
Ariba Network in the trailing 12 months.
|
Financial Results at a Glance
Second Quarter
20161)
|
|
IFRS
|
Non-IFRS2)
|
€ million, unless
otherwise stated
|
Q2 2016
|
Q2 2015
|
∆ in %
|
Q2 2016
|
Q2 2015
|
∆ in %
|
∆ in %
const.
curr.
|
New Cloud
Bookings3)
|
N/A
|
N/A
|
N/A
|
255
|
199
|
28
|
N/A
|
Cloud subscriptions
and support
|
720
|
552
|
30
|
721
|
555
|
30
|
33
|
Software licenses and
support
|
3,639
|
3,510
|
4
|
3,640
|
3,510
|
4
|
7
|
Cloud and
software
|
4,359
|
4,062
|
7
|
4,361
|
4,065
|
7
|
11
|
Total
revenue
|
5,237
|
4,970
|
5
|
5,239
|
4,972
|
5
|
9
|
Share of predictable
revenue (in %)
|
63
|
62
|
1pp
|
63
|
62
|
1pp
|
|
Operating
profit
|
1,269
|
701
|
81
|
1,516
|
1,394
|
9
|
11
|
Profit after
tax
|
813
|
469
|
73
|
979
|
960
|
2
|
|
Basic earnings per
share (€)
|
0.68
|
0.39
|
73
|
0.82
|
0.80
|
2
|
|
Number of employees
(FTE)
|
79,962
|
74,497
|
7
|
N/A
|
N/A
|
N/A
|
N/A
|
|
|
|
Six Months
20161)
|
|
IFRS
|
Non-IFRS2)
|
€ million, unless
otherwise stated
|
Q1–Q2
2016
|
Q1–Q2
2015
|
∆ in %
|
Q1–Q2
2016
|
Q1–Q2
2015
|
∆ in %
|
∆ in %
const.
curr.
|
New Cloud
Bookings3)
|
N/A
|
N/A
|
N/A
|
400
|
316
|
26
|
N/A
|
Cloud subscriptions
and support
|
1,397
|
1,056
|
32
|
1,399
|
1,063
|
32
|
33
|
Software licenses and
support
|
6,811
|
6,660
|
2
|
6,813
|
6,660
|
2
|
4
|
Cloud and
software
|
8,208
|
7,715
|
6
|
8,212
|
7,723
|
6
|
8
|
Total
revenue
|
9,964
|
9,467
|
5
|
9,967
|
9,475
|
5
|
7
|
Share of predictable
revenue (in %)
|
66
|
64
|
2pp
|
66
|
64
|
2pp
|
|
Operating
profit
|
2,082
|
1,339
|
56
|
2,620
|
2,451
|
7
|
8
|
Profit after
tax
|
1,382
|
882
|
57
|
1,742
|
1,657
|
5
|
|
Basic earnings per
share (€)
|
1.16
|
0.74
|
57
|
1.46
|
1.39
|
5
|
|
Number of employees
(FTE)
|
79,962
|
74,497
|
7
|
N/A
|
N/A
|
N/A
|
N/A
|
|
1) All
figures are unaudited.
|
2) For a
detailed description of SAP's non-IFRS measures see Explanation of
Non-IFRS Measures online. For a breakdown of the individual
adjustments see page F7 in this Quarterly Statement.
|
3) As this
is an order entry metric, there are no Non-IFRS
adjustments.
|
Business Outlook 2016
The Company reiterates the following 2016 outlook based on the
solid execution in the first half and a strong pipeline across all
regions led by S/4HANA's once in a generation innovation cycle:
- Based on the continued strong momentum in SAP's cloud business
the Company expects full year 2016 non-IFRS cloud subscriptions and
support revenue to be in a range of €2.95 - €3.05 billion at
constant currencies (2015: €2.30 billion). The upper end of this
range represents a growth rate of 33% at constant currencies.
- The Company expects full year 2016 non-IFRS cloud and software
revenue to increase by 6% - 8% at constant currencies (2015: €17.23
billion).
- The Company expects full-year 2016 non-IFRS operating profit to
be in a range of €6.4 billion - €6.7 billion at constant currencies
(2015: €6.35 billion).
While the Company's full-year 2016 business outlook is at
constant currencies, actual currency reported figures are expected
to continue to be impacted by exchange rate fluctuations. If
exchange rates remain at the end of June
2016 levels for the rest of the year, the Company expects
its non-IFRS cloud and software revenue growth rate as well as its
non-IFRS operating profit growth rate to experience a currency
impact in a range of -1 to +1 percentage points for the third
quarter 2016 (-2 to 0 percentage points for the full year
2016).
Additional Information
General Remarks About this Quarterly Statement
In the past, SAP's quarterly earnings reporting consisted of an
earnings press release with condensed financial information and an
interim report. This quarterly statement replaces both of these
documents and includes all relevant information of both of these
documents. Going forward, we issue a quarterly statement for each
of the four fiscal quarters. Additionally, we issue a half year
report and a full year integrated report as before.
For a more detailed description of all of SAP's non-IFRS
measures and their limitations as well as our constant currency and
free cash flow figures see Explanation of Non-IFRS Measures
online.
Webcast
SAP earnings conference call for financial analysts will take place
on Wednesday, July 20th at
2:00 PM (CEST) / 1:00 PM (GMT) / 8:00 AM
(EDT) / 5:00 AM (PDT). The
conference call will be web cast live on the Company's website at
www.sap.com/investor and will be available for replay.
About SAP
As market leader in enterprise application software, SAP (NYSE:
SAP) helps companies of all sizes and industries run better. From
back office to boardroom, warehouse to storefront, desktop to
mobile device – SAP empowers people and organizations to work
together more efficiently and use business insight more effectively
to stay ahead of the competition. SAP applications and services
enable more than 320,000 business and public sector customers to
operate profitably, adapt continuously, and grow sustainably. For
more information, visit www.sap.com.
For more information,
financial community only:
|
|
Stefan
Gruber
|
+49 (6227)
7-44872
|
investor@sap.com,
CET
|
Follow SAP Investor
Relations on Twitter at @sapinvestor.
|
|
|
|
For more information,
press only:
|
|
Nicola
Leske
|
+49 (6227)
7-50852
|
nicola.leske@sap.com,
CET
|
Daniel
Reinhardt
|
+49 (6227)
7-40201
|
daniel.reinhardt@sap.com, CET
|
Rajiv
Sekhri
|
+49 (6227)
7-74871
|
rajiv.sekhri@sap.com,
CET
|
|
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)
|
|
Financial and
Non-Financial Key Facts
|
|
€ millions, unless
otherwise stated
|
Q1
2015
|
Q2
2015
|
Q3
2015
|
Q4
2015
|
TY
2015
|
Q1
2016
|
Q2
2016
|
Revenues
|
|
|
|
|
|
|
|
Cloud subscriptions
and support (IFRS)
|
503
|
552
|
599
|
631
|
2,286
|
677
|
720
|
Cloud subscriptions
and support (non-IFRS)
|
509
|
555
|
600
|
632
|
2,296
|
678
|
721
|
% change –
yoy
|
131
|
129
|
116
|
76
|
109
|
33
|
30
|
% change constant
currency – yoy
|
95
|
92
|
90
|
60
|
82
|
33
|
33
|
Software licenses
(IFRS)
|
696
|
979
|
1,014
|
2,146
|
4,835
|
609
|
1,040
|
Software licenses
(non-IFRS)
|
696
|
979
|
1,015
|
2,146
|
4,836
|
609
|
1,042
|
% change –
yoy
|
12
|
2
|
7
|
15
|
10
|
–13
|
6
|
% change constant
currency – yoy
|
1
|
–7
|
4
|
11
|
4
|
–10
|
10
|
Software support
(IFRS)
|
2,454
|
2,531
|
2,509
|
2,600
|
10,093
|
2,564
|
2,598
|
Software support
(non-IFRS)
|
2,454
|
2,531
|
2,509
|
2,600
|
10,094
|
2,564
|
2,598
|
% change –
yoy
|
17
|
17
|
12
|
11
|
14
|
5
|
3
|
% change constant
currency – yoy
|
7
|
7
|
6
|
6
|
7
|
5
|
6
|
Software licenses and
support (IFRS)
|
3,150
|
3,510
|
3,523
|
4,745
|
14,928
|
3,172
|
3,639
|
Software licenses and
support (non-IFRS)
|
3,150
|
3,510
|
3,524
|
4,745
|
14,930
|
3,173
|
3,640
|
% change –
yoy
|
16
|
13
|
11
|
13
|
13
|
1
|
4
|
% change constant
currency – yoy
|
5
|
3
|
6
|
9
|
6
|
2
|
7
|
Cloud and software
(IFRS)
|
3,653
|
4,062
|
4,122
|
5,377
|
17,214
|
3,850
|
4,359
|
Cloud and software
(non-IFRS)
|
3,659
|
4,065
|
4,124
|
5,378
|
17,226
|
3,851
|
4,361
|
% change –
yoy
|
24
|
21
|
19
|
18
|
20
|
5
|
7
|
% change constant
currency – yoy
|
12
|
9
|
12
|
13
|
12
|
6
|
11
|
Total revenue
(IFRS)
|
4,497
|
4,970
|
4,985
|
6,342
|
20,793
|
4,727
|
5,237
|
Total revenue
(non-IFRS)
|
4,502
|
4,972
|
4,987
|
6,343
|
20,805
|
4,728
|
5,239
|
% change –
yoy
|
22
|
20
|
17
|
16
|
18
|
5
|
5
|
% change constant
currency – yoy
|
10
|
8
|
10
|
11
|
10
|
6
|
9
|
Share of predictable
revenue (IFRS, in %)
|
66
|
62
|
62
|
51
|
60
|
69
|
63
|
Share of predictable
revenue (non-IFRS, in %)
|
66
|
62
|
62
|
51
|
60
|
69
|
63
|
|
|
|
|
|
|
|
|
Profits
|
|
|
|
|
|
|
|
Operating profit
(IFRS)
|
638
|
701
|
1,214
|
1,700
|
4,252
|
813
|
1,269
|
Operating profit
(non-IFRS)
|
1,056
|
1,394
|
1,616
|
2,282
|
6,348
|
1,104
|
1,516
|
% change
|
15
|
13
|
19
|
7
|
13
|
5
|
9
|
% change constant
currency
|
–2
|
1
|
15
|
3
|
5
|
4
|
11
|
Profit after tax
(IFRS)
|
413
|
469
|
895
|
1,278
|
3,056
|
570
|
813
|
Profit after tax
(non-IFRS)
|
697
|
960
|
1,173
|
1,670
|
4,501
|
763
|
979
|
% change
|
5
|
2
|
16
|
6
|
8
|
9
|
2
|
|
|
|
|
|
|
|
|
Margins
|
|
|
|
|
|
|
|
Cloud subscriptions
and support gross margin (IFRS, in %)
|
55.3
|
56.5
|
57.9
|
51.8
|
55.3
|
57.5
|
57.0
|
Cloud subscriptions
and support gross margin (non-IFRS, in %)
|
65.1
|
65.7
|
68.8
|
63.0
|
65.6
|
66.3
|
65.2
|
Software and support
gross margin (IFRS, in %)
|
82.8
|
84.0
|
85.0
|
86.1
|
84.7
|
84.2
|
86.1
|
Software and support
gross margin (non-IFRS, in %)
|
85.1
|
86.1
|
86.7
|
87.7
|
86.6
|
85.9
|
87.4
|
Cloud and software
gross margin (IFRS, in %)
|
79.0
|
80.3
|
81.1
|
82.1
|
80.8
|
79.5
|
81.3
|
Cloud and software
gross margin (non-IFRS, in %)
|
82.3
|
83.3
|
84.1
|
84.8
|
83.8
|
82.4
|
83.7
|
Gross margin (IFRS,
in %)
|
66.8
|
69.0
|
70.7
|
72.4
|
70.0
|
67.0
|
70.4
|
Gross margin
(non-IFRS, in %)
|
70.6
|
72.4
|
73.6
|
75.6
|
73.3
|
69.7
|
72.7
|
Operating margin
(IFRS, in %)
|
14.2
|
14.1
|
24.3
|
26.8
|
20.5
|
17.2
|
24.2
|
Operating margin
(non-IFRS, in %)
|
23.5
|
28.0
|
32.4
|
36.0
|
30.5
|
23.4
|
28.9
|
AT&S
Segment1) – Cloud subscriptions and support gross
margin
(in %)
|
50
|
51
|
56
|
51
|
52
|
54
|
52
|
AT&S
Segment1) – Gross margin (in %)
|
71
|
73
|
74
|
77
|
74
|
70
|
73
|
AT&S
Segment1) – Segment margin (in %)
|
34
|
39
|
43
|
46
|
41
|
34
|
40
|
SAP BN
Segment2) – Cloud subscriptions and support gross margin
(in %)
|
75
|
75
|
77
|
72
|
75
|
75
|
76
|
SAP BN
Segment2) – Gross margin (in %)
|
68
|
68
|
71
|
65
|
68
|
67
|
68
|
SAP BN
Segment2) – Segment margin (in %)
|
18
|
16
|
24
|
20
|
19
|
16
|
18
|
|
|
|
|
|
|
|
|
Key Profit
Ratios
|
|
|
|
|
|
|
|
Effective tax rate
(IFRS, in %)
|
13.6
|
26.4
|
27.1
|
22.4
|
23.4
|
23.3
|
28.9
|
Effective tax rate
(non-IFRS, in %)
|
22.3
|
27.8
|
28.0
|
25.1
|
26.1
|
26.2
|
29.6
|
|
|
|
|
|
|
|
|
Earnings per share,
basic (IFRS, in €)
|
0.35
|
0.39
|
0.75
|
1.07
|
2.56
|
0.48
|
0.68
|
Earnings per share,
basic (non-IFRS, in €)
|
0.58
|
0.80
|
0.98
|
1.40
|
3.77
|
0.64
|
0.82
|
|
|
|
|
|
|
|
|
Order
Entry
|
|
|
|
|
|
|
|
New Cloud
Bookings
|
117
|
199
|
213
|
345
|
874
|
145
|
255
|
Deferred cloud
subscriptions and support revenue
(IFRS, quarter
end)
|
793
|
789
|
782
|
957
|
957
|
953
|
1,003
|
Orders – Number of
on-premise software deals (in transactions)
|
12,037
|
13,504
|
14,027
|
17,871
|
57,439
|
12,884
|
14,468
|
Share of software
orders worth more than €5 million (in %)
|
23
|
24
|
24
|
31
|
27
|
17
|
29
|
Share of software
orders worth less than €1 million (in %)
|
49
|
41
|
44
|
34
|
40
|
48
|
38
|
|
|
|
|
|
|
|
|
Liquidity and Cash
Flow
|
|
|
|
|
|
|
|
Net cash flows from
operating activities
|
2,366
|
410
|
466
|
397
|
3,638
|
2,482
|
439
|
Purchase of
intangible assets and property, plant, and equipment (without
acquisitions)
|
–139
|
–137
|
–148
|
–212
|
–636
|
–168
|
–237
|
Free cash
flow
|
2,227
|
273
|
317
|
184
|
3,001
|
2,313
|
202
|
% of total revenue
(IFRS)
|
50
|
5
|
6
|
3
|
14
|
49
|
4
|
% of profit after tax
(IFRS)
|
539
|
58
|
35
|
14
|
98
|
406
|
25
|
Group liquidity,
gross
|
5,333
|
4,180
|
4,608
|
3,559
|
3,559
|
5,853
|
4,347
|
Group debt
|
–10,524
|
–10,432
|
–10,428
|
–9,174
|
–9,174
|
–9,080
|
–8,593
|
Group liquidity,
net
|
–5,191
|
–6,251
|
–5,820
|
–5,615
|
–5,615
|
–3,227
|
–4,245
|
Days' sales
outstanding (DSO, in days)3)
|
67
|
68
|
69
|
71
|
71
|
73
|
73
|
|
|
|
|
|
|
|
|
Financial
Position
|
|
|
|
|
|
|
|
Cash and cash
equivalents
|
4,635
|
3,923
|
3,844
|
3,411
|
3,411
|
5,743
|
4,206
|
Goodwill
|
22,896
|
22,300
|
22,222
|
22,689
|
22,689
|
21,922
|
22,354
|
Total
assets
|
43,753
|
41,088
|
40,649
|
41,390
|
41,390
|
42,884
|
41,788
|
Equity
|
22,117
|
20,801
|
21,540
|
23,295
|
23,295
|
22,920
|
22,963
|
Equity ratio (total
equity in % of total assets)
|
51
|
51
|
53
|
56
|
56
|
53
|
55
|
|
|
|
|
|
|
|
|
Non-Financials
|
|
|
|
|
|
|
|
Headcount (quarter
end)4)
|
74,551
|
74,497
|
75,643
|
76,986
|
76,986
|
78,230
|
79,962
|
Employee retention
(in %, rolling 12 months)
|
93.3
|
92.6
|
91.9
|
91.8
|
91.8
|
92.0
|
92.6
|
Women in management
(in %, quarter end)
|
22.3
|
22.9
|
23.2
|
23.6
|
23.6
|
23.6
|
24.1
|
Greenhouse gas
emissions (in kilotons)
|
145
|
125
|
110
|
75
|
455
|
120
|
95
|
|
1)
Applications, Technology & Services Segment
|
2) SAP
Business Network Segment
|
3) Days'
sales outstanding measures the length of time it takes to collect
receivables. SAP calculates DSO by dividing the average invoiced
accounts receivables balance of the last 12 months by the average
monthly sales of the last 12 months.
|
4) In
full-time equivalents
|
Due to rounding,
numbers may not add up precisely.
|
Consolidated
Income Statements of SAP Group (IFRS) – Quarter
|
|
€ millions, unless
otherwise stated
|
|
Q2 2016
|
Q2 2015
|
∆ in %
|
Cloud subscriptions
and support
|
|
720
|
552
|
30
|
Software
licenses
|
|
1,040
|
979
|
6
|
Software
support
|
|
2,598
|
2,531
|
3
|
Software licenses and
support
|
|
3,639
|
3,510
|
4
|
Cloud and
software
|
|
4,359
|
4,062
|
7
|
Services
|
|
878
|
908
|
–3
|
Total
revenue
|
|
5,237
|
4,970
|
5
|
|
|
|
|
|
Cost of cloud
subscriptions and support
|
|
–310
|
–240
|
29
|
Cost of software
licenses and support
|
|
–507
|
–560
|
–10
|
Cost of cloud and
software
|
|
–816
|
–800
|
2
|
Cost of
services
|
|
–733
|
–738
|
–1
|
Total cost of
revenue
|
|
–1,549
|
–1,539
|
1
|
Gross
profit
|
|
3,688
|
3,431
|
7
|
Research and
development
|
|
–710
|
–698
|
2
|
Sales and
marketing
|
|
–1,473
|
–1,412
|
4
|
General and
administration
|
|
–229
|
–256
|
–10
|
Restructuring
|
|
–11
|
–367
|
–97
|
Other operating
income/expense, net
|
|
4
|
3
|
33
|
Total operating
expenses
|
|
–3,968
|
–4,269
|
–7
|
Operating
profit
|
|
1,269
|
701
|
81
|
|
|
|
|
|
Other non-operating
income/expense, net
|
|
–101
|
–53
|
91
|
Finance
income
|
|
38
|
39
|
–2
|
Finance
costs
|
|
–62
|
–50
|
23
|
Financial income,
net
|
|
–23
|
–11
|
>100
|
Profit before
tax
|
|
1,144
|
637
|
80
|
|
|
|
|
|
Income tax
expense
|
|
–331
|
–168
|
97
|
Profit after
tax
|
|
813
|
469
|
73
|
Attributable to owners
of parent
|
|
816
|
471
|
73
|
Attributable to
non-controlling interests
|
|
–3
|
–3
|
23
|
|
|
|
|
|
Earnings per share,
basic (in €)1)
|
|
0.68
|
0.39
|
73
|
Earnings per share,
diluted (in €)1)
|
|
0.68
|
0.39
|
73
|
|
1) For the
three months ended June 30, 2016 and 2015, the weighted average
number of shares was 1,198 million (diluted 1,199 million) and
1,196 million (diluted: 1,198 million), respectively (treasury
stock excluded).
|
Due to rounding,
numbers may not add up precisely.
|
Consolidated
Statements of Income of SAP Group (IFRS) – Half Year
|
|
€ millions, unless
otherwise stated
|
|
Q1–Q2 2016
|
Q1–Q2 2015
|
∆ in %
|
Cloud subscriptions
and support
|
|
1,397
|
1,056
|
32
|
Software
licenses
|
|
1,649
|
1,675
|
–2
|
Software
support
|
|
5,162
|
4,985
|
4
|
Software licenses and
support
|
|
6,811
|
6,660
|
2
|
Cloud and
software
|
|
8,208
|
7,715
|
6
|
Services
|
|
1,755
|
1,751
|
0
|
Total
revenue
|
|
9,964
|
9,467
|
5
|
|
|
|
|
|
Cost of cloud
subscriptions and support
|
|
–597
|
–465
|
28
|
Cost of software
licenses and support
|
|
–1,007
|
–1,103
|
–9
|
Cost of cloud and
software
|
|
–1,604
|
–1,568
|
2
|
Cost of
services
|
|
–1,506
|
–1,465
|
3
|
Total cost of
revenue
|
|
–3,110
|
–3,034
|
3
|
Gross
profit
|
|
6,854
|
6,433
|
7
|
Research and
development
|
|
–1,419
|
–1,393
|
2
|
Sales and
marketing
|
|
–2,871
|
–2,758
|
4
|
General and
administration
|
|
–460
|
–528
|
–13
|
Restructuring
|
|
–22
|
–418
|
–95
|
Other operating
income/expense, net
|
|
–1
|
3
|
<-100
|
Total operating
expenses
|
|
–7,882
|
–8,128
|
–3
|
Operating
profit
|
|
2,082
|
1,339
|
56
|
|
|
|
|
|
Other non-operating
income/expense, net
|
|
–136
|
–201
|
–32
|
Finance
income
|
|
73
|
87
|
–16
|
Finance
costs
|
|
–132
|
–109
|
21
|
Financial income,
net
|
|
–59
|
–22
|
>100
|
Profit before
tax
|
|
1,887
|
1,115
|
69
|
|
|
|
|
|
Income tax
expense
|
|
–504
|
–233
|
>100
|
Profit after
tax
|
|
1,382
|
882
|
57
|
Attributable to owners
of parent
|
|
1,388
|
885
|
57
|
Attributable to
non-controlling interests
|
|
–5
|
–3
|
74
|
|
|
|
|
|
Earnings per share,
basic (in €)1)
|
|
1.16
|
0.74
|
57
|
Earnings per share,
diluted (in €)1)
|
|
1.16
|
0.74
|
57
|
|
1) For the
six months ended June 30, 2016 and 2015, the weighted average
number of shares was 1,198 million (diluted 1,199 million) and
1,196 million (diluted: 1,198 million), respectively (treasury
stock excluded).
|
Due to rounding,
numbers may not add up precisely.
|
Consolidated
Statements of Financial Position of SAP Group (IFRS)
|
|
as at June 30, 2016
and December 31, 2015
|
€ millions
|
|
2016
|
2015
|
Cash and cash
equivalents
|
|
4,206
|
3,411
|
Other financial
assets
|
|
386
|
351
|
Trade and other
receivables
|
|
5,025
|
5,275
|
Other non-financial
assets
|
|
636
|
468
|
Tax assets
|
|
296
|
235
|
Total current
assets
|
|
10,549
|
9,739
|
Goodwill
|
|
22,354
|
22,689
|
Intangible
assets
|
|
3,884
|
4,280
|
Property, plant, and
equipment
|
|
2,284
|
2,192
|
Other financial
assets
|
|
1,278
|
1,336
|
Trade and other
receivables
|
|
106
|
87
|
Other non-financial
assets
|
|
375
|
332
|
Tax assets
|
|
401
|
282
|
Deferred tax
assets
|
|
558
|
453
|
Total non-current
assets
|
|
31,239
|
31,651
|
Total
assets
|
|
41,788
|
41,390
|
|
€ millions
|
|
2016
|
2015
|
Trade and other
payables
|
|
1,047
|
1,088
|
Tax
liabilities
|
|
268
|
230
|
Financial
liabilities
|
|
323
|
841
|
Other non-financial
liabilities
|
|
2,274
|
3,407
|
Provisions
|
|
191
|
299
|
Deferred
income
|
|
4,470
|
2,001
|
Total current
liabilities
|
|
8,574
|
7,867
|
Trade and other
payables
|
|
94
|
81
|
Tax
liabilities
|
|
417
|
402
|
Financial
liabilities
|
|
8,705
|
8,681
|
Other non-financial
liabilities
|
|
300
|
331
|
Provisions
|
|
201
|
180
|
Deferred tax
liabilities
|
|
426
|
448
|
Deferred
income
|
|
106
|
106
|
Total non-current
liabilities
|
|
10,250
|
10,228
|
Total
liabilities
|
|
18,824
|
18,095
|
Issued
capital
|
|
1,229
|
1,229
|
Share
premium
|
|
580
|
558
|
Retained
earnings
|
|
20,054
|
20,044
|
Other components of
equity
|
|
2,189
|
2,561
|
Treasury
shares
|
|
–1,114
|
–1,124
|
Equity attributable to
owners of parent
|
|
22,938
|
23,267
|
|
|
|
|
Non-controlling
interests
|
|
26
|
28
|
Total
equity
|
|
22,963
|
23,295
|
Total equity and
liabilities
|
|
41,788
|
41,390
|
|
Due to rounding,
numbers may not add up precisely.
|
Consolidated
Statements of Cash Flows of SAP Group (IFRS)
|
|
€ millions
|
Q1–Q2 2016
|
Q1–Q2 2015
|
Profit after
tax
|
1,382
|
882
|
Adjustments to
reconcile profit after taxes to net cash flows from operating
activities:
|
|
|
Depreciation and
amortization
|
615
|
646
|
Income tax
expense
|
504
|
233
|
Financial income,
net
|
59
|
22
|
Decrease/increase in
sales and bad debt allowances on trade receivables
|
60
|
14
|
Other adjustments for
non-cash items
|
12
|
–21
|
Decrease/increase in
trade and other receivables
|
114
|
32
|
Decrease/increase in
other assets
|
–309
|
–156
|
Decrease/increase in
trade payables, provisions, and other liabilities
|
–1,165
|
–412
|
Decrease/increase in
deferred income
|
2,493
|
2,361
|
Interest
paid
|
–120
|
–90
|
Interest
received
|
36
|
40
|
Income taxes paid,
net of refunds
|
–760
|
–776
|
Net cash flows from
operating activities
|
2,921
|
2,775
|
Business combinations,
net of cash and cash equivalents acquired
|
–16
|
–10
|
Cash receipts from
derivative financial instruments related to business
combinations
|
0
|
266
|
Total cash flows for
business combinations, net of cash and cash equivalents
acquired
|
–16
|
256
|
Purchase of
intangible assets and property, plant, and equipment
|
–406
|
–276
|
Proceeds from sales
of intangible assets or property, plant, and equipment
|
33
|
27
|
Purchase of equity or
debt instruments of other entities
|
–320
|
–1,099
|
Proceeds from sales
of equity or debt instruments of other entities
|
308
|
868
|
Net cash flows from
investing activities
|
–401
|
–224
|
Dividends
paid
|
–1,378
|
–1,316
|
Proceeds from
reissuance of treasury shares
|
15
|
24
|
Proceeds from
borrowings
|
1
|
1,745
|
Repayments of
borrowings
|
–544
|
–2,520
|
Transactions with
non-controlling interests
|
3
|
0
|
Net cash flows from
financing activities
|
–1,902
|
–2,067
|
Effect of foreign
currency rates on cash and cash equivalents
|
177
|
111
|
Net decrease/increase
in cash and cash equivalents
|
796
|
595
|
Cash and cash
equivalents at the beginning of the period
|
3,411
|
3,328
|
Cash and cash
equivalents at the end of the period
|
4,206
|
3,923
|
|
Due to rounding,
numbers may not add up precisely.
|
Segment Reporting
(IFRS)
|
|
Applications,
Technology & Services
|
|
€ millions
|
Q2 2016
|
Q2 2015
|
∆ in %
|
∆ in %
|
Actual Currency
|
Constant Currency
|
Actual Currency
|
Actual Currency
|
Constant Currency
|
Cloud subscriptions
and support
|
321
|
331
|
220
|
46
|
50
|
Software
licenses
|
1,025
|
1,057
|
964
|
6
|
10
|
Software
support
|
2,572
|
2,652
|
2,504
|
3
|
6
|
Software licenses and
support
|
3,596
|
3,709
|
3,467
|
4
|
7
|
Cloud and
software
|
3,917
|
4,039
|
3,687
|
6
|
10
|
Services
|
827
|
853
|
822
|
1
|
4
|
Total segment
revenue
|
4,744
|
4,893
|
4,509
|
5
|
9
|
Cost of cloud
subscriptions and support
|
–155
|
–159
|
–107
|
46
|
50
|
Cost of software
licenses and support
|
–461
|
–477
|
–482
|
–4
|
–1
|
Cost of cloud and
software
|
–617
|
–637
|
–588
|
5
|
8
|
Cost of
services
|
–671
|
–697
|
–628
|
7
|
11
|
Total cost of
revenue
|
–1,288
|
–1,334
|
–1,216
|
6
|
10
|
Segment gross
profit
|
3,456
|
3,559
|
3,293
|
5
|
8
|
Total segment
expenses
|
–1,570
|
–1,624
|
–1,528
|
3
|
6
|
Segment
profit
|
1,886
|
1,936
|
1,764
|
7
|
10
|
Margins
|
|
|
|
|
|
Cloud subscriptions
and support gross margin (in %)
|
52
|
52
|
51
|
0pp
|
0pp
|
Gross margin (in
%)
|
73
|
73
|
73
|
0pp
|
0pp
|
Segment margin (in
%)
|
40
|
40
|
39
|
1pp
|
0pp
|
|
SAP Business
Network
|
|
€ millions
|
Q2 2016
|
Q2 2015
|
∆ in %
|
∆ in %
|
Actual
Currency
|
Constant
Currency
|
Actual
Currency
|
Actual Currency
|
Constant
Currency
|
Cloud subscriptions
and support
|
389
|
397
|
329
|
18
|
21
|
Software
licenses
|
0
|
0
|
0
|
0
|
0
|
Software
support
|
7
|
7
|
9
|
–18
|
–17
|
Software licenses and
support
|
7
|
7
|
9
|
–16
|
–14
|
Cloud and
software
|
396
|
405
|
337
|
17
|
20
|
Services
|
72
|
74
|
62
|
15
|
18
|
Total segment
revenue
|
468
|
479
|
400
|
17
|
20
|
Cost of cloud
subscriptions and support
|
–92
|
–95
|
–83
|
11
|
14
|
Cost of software
licenses and support
|
0
|
0
|
0
|
0
|
0
|
Cost of cloud and
software
|
–92
|
–95
|
–83
|
11
|
14
|
Cost of
services
|
–60
|
–62
|
–46
|
29
|
34
|
Total cost of
revenue
|
–152
|
–156
|
–129
|
18
|
21
|
Segment gross
profit
|
316
|
322
|
271
|
17
|
19
|
Total segment
expenses
|
–233
|
–240
|
–207
|
13
|
16
|
Segment
profit
|
83
|
82
|
64
|
30
|
28
|
Margins
|
|
|
|
|
|
Cloud subscriptions
and support gross margin (in %)
|
76
|
76
|
75
|
2pp
|
1pp
|
Gross margin (in
%)
|
68
|
67
|
68
|
0pp
|
0pp
|
Segment margin (in
%)
|
18
|
17
|
16
|
2pp
|
1pp
|
|
Applications,
Technology & Services
|
|
€ millions
|
Q1-Q2 2016
|
Q1-Q2 2015
|
∆ in %
|
∆ in %
|
Actual
Currency
|
Constant
Currency
|
Actual
Currency
|
Actual
Currency
|
Constant
Currency
|
Cloud subscriptions
and support
|
616
|
628
|
416
|
48
|
51
|
Software
licenses
|
1,616
|
1,665
|
1,646
|
–2
|
1
|
Software
support
|
5,112
|
5,200
|
4,934
|
4
|
5
|
Software licenses and
support
|
6,728
|
6,865
|
6,580
|
2
|
4
|
Cloud and
software
|
7,344
|
7,493
|
6,997
|
5
|
7
|
Services
|
1,629
|
1,670
|
1,607
|
1
|
4
|
Total segment
revenue
|
8,973
|
9,163
|
8,604
|
4
|
7
|
Cost of cloud
subscriptions and support
|
–290
|
–295
|
–206
|
41
|
43
|
Cost of software
licenses and support
|
–922
|
–938
|
–947
|
–3
|
–1
|
Cost of cloud and
software
|
–1,212
|
–1,234
|
–1,153
|
5
|
7
|
Cost of
services
|
–1,348
|
–1,389
|
–1,267
|
6
|
10
|
Total cost of
revenue
|
–2,560
|
–2,622
|
–2,420
|
6
|
8
|
Segment gross
profit
|
6,413
|
6,541
|
6,184
|
4
|
6
|
Total segment
expenses
|
–3,072
|
–3,147
|
–3,036
|
1
|
4
|
Segment
profit
|
3,341
|
3,394
|
3,148
|
6
|
8
|
Margins
|
|
|
|
|
|
Cloud subscriptions
and support gross margin (in %)
|
53
|
53
|
51
|
2pp
|
2pp
|
Gross margin (in
%)
|
71
|
71
|
72
|
0pp
|
0pp
|
Segment margin (in
%)
|
37
|
37
|
37
|
1pp
|
0pp
|
|
SAP Business
Network
|
|
€ millions
|
Q1-Q2 2016
|
Q1-Q2 2015
|
∆ in %
|
∆ in %
|
Actual
Currency
|
Constant
Currency
|
Actual
Currency
|
Actual
Currency
|
Constant Currency
|
Cloud subscriptions
and support
|
761
|
766
|
634
|
20
|
21
|
Software
licenses
|
0
|
0
|
0
|
0
|
0
|
Software
support
|
14
|
14
|
17
|
–14
|
–14
|
Software licenses and
support
|
14
|
14
|
16
|
–13
|
–13
|
Cloud and
software
|
776
|
780
|
651
|
19
|
20
|
Services
|
143
|
145
|
117
|
22
|
24
|
Total segment
revenue
|
919
|
925
|
768
|
20
|
20
|
Cost of cloud
subscriptions and support
|
–184
|
–186
|
–159
|
16
|
17
|
Cost of software
licenses and support
|
0
|
0
|
0
|
0
|
0
|
Cost of cloud and
software
|
–184
|
–186
|
–159
|
15
|
17
|
Cost of
services
|
–116
|
–118
|
–88
|
31
|
34
|
Total cost of
revenue
|
–300
|
–305
|
–248
|
21
|
23
|
Segment gross
profit
|
619
|
621
|
520
|
19
|
19
|
Total segment
expenses
|
–462
|
–469
|
–390
|
18
|
20
|
Segment
profit
|
157
|
152
|
130
|
21
|
17
|
Margins
|
|
|
|
|
|
Cloud subscriptions
and support gross margin (in %)
|
76
|
76
|
75
|
1pp
|
1pp
|
Gross margin (in
%)
|
67
|
67
|
68
|
0pp
|
–1pp
|
Segment margin (in
%)
|
17
|
16
|
17
|
0pp
|
–1pp
|
Reconciliation
from Non-IFRS Numbers to IFRS Numbers
|
|
€ millions, unless
otherwise stated
|
Q2 2016
|
Q2 2015
|
∆ in %
|
IFRS
|
Adj.1)
|
Non-
IFRS1)
|
Currency
Impact2)
|
Non-IFRS
Constant
Currency2)
|
IFRS
|
Adj.1)
|
Non-
IFRS1)
|
IFRS
|
Non-
IFRS1)
|
Non-IFRS
Constant
Currency2)
|
Revenue
Numbers
|
|
|
|
|
|
|
|
|
|
|
|
Cloud subscriptions
and support
|
720
|
1
|
721
|
19
|
740
|
552
|
2
|
555
|
30
|
30
|
33
|
Software
licenses
|
1,040
|
2
|
1,042
|
33
|
1,075
|
979
|
0
|
979
|
6
|
6
|
10
|
Software
support
|
2,598
|
0
|
2,598
|
81
|
2,679
|
2,531
|
0
|
2,531
|
3
|
3
|
6
|
Software licenses and
support
|
3,639
|
2
|
3,640
|
114
|
3,755
|
3,510
|
0
|
3,510
|
4
|
4
|
7
|
Cloud and
software
|
4,359
|
2
|
4,361
|
133
|
4,494
|
4,062
|
2
|
4,065
|
7
|
7
|
11
|
Services
|
878
|
0
|
878
|
29
|
907
|
908
|
0
|
908
|
–3
|
–3
|
0
|
Total
revenue
|
5,237
|
2
|
5,239
|
162
|
5,401
|
4,970
|
2
|
4,972
|
5
|
5
|
9
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating Expense
Numbers
|
|
|
|
|
|
|
|
|
|
|
|
Cost of cloud
subscriptions and support
|
–310
|
59
|
–251
|
|
|
–240
|
50
|
–190
|
29
|
32
|
|
Cost of software
licenses and support
|
–507
|
47
|
–460
|
|
|
–560
|
73
|
–487
|
–10
|
–6
|
|
Cost of cloud and
software
|
–816
|
106
|
–711
|
|
|
–800
|
123
|
–677
|
2
|
5
|
|
Cost of
services
|
–733
|
12
|
–721
|
|
|
–738
|
43
|
–695
|
–1
|
4
|
|
Total cost of
revenue
|
–1,549
|
118
|
–1,431
|
|
|
–1,539
|
166
|
–1,372
|
1
|
4
|
|
Gross
profit
|
3,688
|
120
|
3,808
|
|
|
3,431
|
169
|
3,600
|
7
|
6
|
|
Research and
development
|
–710
|
21
|
–689
|
|
|
–698
|
53
|
–645
|
2
|
7
|
|
Sales and
marketing
|
–1,473
|
82
|
–1,391
|
|
|
–1,412
|
94
|
–1,318
|
4
|
6
|
|
General and
administration
|
–229
|
12
|
–217
|
|
|
–256
|
10
|
–246
|
–10
|
–12
|
|
Restructuring
|
–11
|
11
|
0
|
|
|
–367
|
367
|
0
|
–97
|
NA
|
|
Other operating
income/expense, net
|
4
|
0
|
4
|
|
|
3
|
0
|
3
|
33
|
33
|
|
Total operating
expenses
|
–3,968
|
245
|
–3,724
|
–134
|
–3,858
|
–4,269
|
691
|
–3,578
|
–7
|
4
|
8
|
|
|
|
|
|
|
|
|
|
|
|
|
Profit
Numbers
|
|
|
|
|
|
|
|
|
|
|
|
Operating
profit
|
1,269
|
247
|
1,516
|
28
|
1,543
|
701
|
693
|
1,394
|
81
|
9
|
11
|
Other
non-operating income/expense, net
|
–101
|
0
|
–101
|
|
|
–53
|
0
|
–53
|
91
|
91
|
|
Finance
income
|
38
|
0
|
38
|
|
|
39
|
0
|
39
|
–2
|
–2
|
|
Finance
costs
|
–62
|
0
|
–62
|
|
|
–50
|
0
|
–50
|
23
|
23
|
|
Financial income,
net
|
–23
|
0
|
–23
|
|
|
–11
|
0
|
–11
|
>100
|
>100
|
|
Profit before
tax
|
1,144
|
247
|
1,391
|
|
|
637
|
693
|
1,330
|
80
|
5
|
|
Income tax
expense
|
–331
|
–81
|
–412
|
|
|
–168
|
–201
|
–369
|
97
|
11
|
|
Profit after
tax
|
813
|
167
|
979
|
|
|
469
|
492
|
960
|
73
|
2
|
|
Attributable to owners
of parent
|
816
|
167
|
982
|
|
|
471
|
492
|
963
|
73
|
2
|
|
Attributable to
non-controlling interests
|
–3
|
0
|
–3
|
|
|
–3
|
0
|
–3
|
23
|
23
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Key
Ratios
|
|
|
|
|
|
|
|
|
|
|
|
Operating margin
(in %)
|
24.2
|
|
28.9
|
|
28.6
|
14.1
|
|
28.0
|
10.1pp
|
0.9pp
|
0.5pp
|
Effective tax rate
(in %)
|
28.9
|
|
29.6
|
|
|
26.4
|
|
27.8
|
2.5pp
|
1.8pp
|
|
Earnings per
share, basic (in €)
|
0.68
|
|
0.82
|
|
|
0.39
|
|
0.80
|
73
|
2
|
|
|
1)
Adjustments in the revenue line items are for software support
revenue, cloud subscriptions and support revenue, and other
similarly recurring revenues that entities acquired by SAP would
have recognized had they remained stand-alone entities but that SAP
is not permitted to recognize as revenue under IFRS as a result of
business combination accounting rules. Adjustments in the operating
expense line items are for acquisition-related charges, share-based
payment expenses, as well as restructuring expenses.
|
2)
Constant currency revenue and operating income figures are
calculated by translating revenue and operating income of the
current period using the average exchange rates from the previous
year's respective period instead of the current period. Constant
currency period-over-period changes are calculated by comparing the
current year's non-IFRS constant currency numbers with the non-IFRS
number of the previous year's respective period.
|
For a more detailed
description of these adjustments and their limitations as well as
our constant currency figures, see our Web site
www.sap.com/corporate-en/investors/newsandreports/reporting-framework.epx
under "Non-IFRS Measures, Adjustments and Full-Year
Estimates".
|
|
Due to rounding,
numbers may not add up precisely.
|
€ millions, unless
otherwise stated
|
Q1–Q2 2016
|
Q1–Q2 2015
|
∆ in
%
|
IFRS
|
Adj.1)
|
Non-
IFRS1)
|
Currency
Impact2)
|
Non-IFRS
Constant Currency2)
|
IFRS
|
Adj.1)
|
Non-
IFRS1)
|
IFRS
|
Non-
IFRS1)
|
Non-IFRS
Constant Currency2)
|
Revenue
Numbers
|
|
|
|
|
|
|
|
|
|
|
|
Cloud subscriptions
and support
|
1,397
|
1
|
1,399
|
17
|
1,415
|
1,056
|
8
|
1,063
|
32
|
32
|
33
|
Software
licenses
|
1,649
|
2
|
1,651
|
51
|
1,702
|
1,675
|
0
|
1,675
|
–2
|
–1
|
2
|
Software
support
|
5,162
|
0
|
5,163
|
88
|
5,251
|
4,985
|
0
|
4,985
|
4
|
4
|
5
|
Software licenses and
support
|
6,811
|
2
|
6,813
|
139
|
6,953
|
6,660
|
0
|
6,660
|
2
|
2
|
4
|
Cloud and
software
|
8,208
|
4
|
8,212
|
156
|
8,368
|
7,715
|
8
|
7,723
|
6
|
6
|
8
|
Services
|
1,755
|
0
|
1,755
|
43
|
1,799
|
1,751
|
0
|
1,751
|
0
|
0
|
3
|
Total
revenue
|
9,964
|
4
|
9,967
|
200
|
10,167
|
9,467
|
8
|
9,475
|
5
|
5
|
7
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating Expense
Numbers
|
|
|
|
|
|
|
|
|
|
|
|
Cost of cloud
subscriptions and support
|
–597
|
118
|
–479
|
|
|
–465
|
98
|
–368
|
28
|
30
|
|
Cost of software
licenses and support
|
–1,007
|
99
|
–908
|
|
|
–1,103
|
146
|
–957
|
–9
|
–5
|
|
Cost of cloud and
software
|
–1,604
|
217
|
–1,387
|
|
|
–1,568
|
244
|
–1,325
|
2
|
5
|
|
Cost of
services
|
–1,506
|
30
|
–1,476
|
|
|
–1,465
|
92
|
–1,373
|
3
|
7
|
|
Total cost of
revenue
|
–3,110
|
247
|
–2,864
|
|
|
–3,034
|
336
|
–2,698
|
3
|
6
|
|
Gross
profit
|
6,854
|
250
|
7,104
|
|
|
6,433
|
344
|
6,777
|
7
|
5
|
|
Research and
development
|
–1,419
|
49
|
–1,370
|
|
|
–1,393
|
108
|
–1,285
|
2
|
7
|
|
Sales and
marketing
|
–2,871
|
191
|
–2,680
|
|
|
–2,758
|
190
|
–2,568
|
4
|
4
|
|
General and
administration
|
–460
|
27
|
–433
|
|
|
–528
|
52
|
–476
|
–13
|
–9
|
|
Restructuring
|
–22
|
22
|
0
|
|
|
–418
|
418
|
0
|
–95
|
NA
|
|
Other operating
income/expense, net
|
–1
|
0
|
–1
|
|
|
3
|
0
|
3
|
<-100
|
<-100
|
|
Total operating
expenses
|
–7,882
|
535
|
–7,348
|
–177
|
–7,525
|
–8,128
|
1,104
|
–7,024
|
–3
|
5
|
7
|
|
|
|
|
|
|
|
|
|
|
|
|
Profit
Numbers
|
|
|
|
|
|
|
|
|
|
|
|
Operating
profit
|
2,082
|
538
|
2,620
|
22
|
2,642
|
1,339
|
1,112
|
2,451
|
56
|
7
|
8
|
Other
non-operating income/expense, net
|
–136
|
0
|
–136
|
|
|
–201
|
0
|
–201
|
–32
|
–32
|
|
Finance
income
|
73
|
0
|
73
|
|
|
87
|
0
|
87
|
–16
|
–16
|
|
Finance
costs
|
–132
|
0
|
–132
|
|
|
–109
|
0
|
–109
|
21
|
21
|
|
Financial income,
net
|
–59
|
0
|
–59
|
|
|
–22
|
0
|
–22
|
>100
|
>100
|
|
Profit before
tax
|
1,887
|
538
|
2,425
|
|
|
1,115
|
1,112
|
2,227
|
69
|
9
|
|
Income tax
expense
|
–504
|
–178
|
–683
|
|
|
–233
|
–338
|
–571
|
>100
|
20
|
|
Profit after
tax
|
1,382
|
360
|
1,742
|
|
|
882
|
775
|
1,657
|
57
|
5
|
|
Attributable to owners
of parent
|
1,388
|
360
|
1,748
|
|
|
885
|
775
|
1,660
|
57
|
5
|
|
Attributable to
non-controlling interests
|
–5
|
0
|
–5
|
|
|
–3
|
0
|
–3
|
74
|
74
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Key
Ratios
|
|
|
|
|
|
|
|
|
|
|
|
Operating margin
(in %)
|
20.9
|
|
26.3
|
|
26.0
|
14.1
|
|
25.9
|
6.8pp
|
0.4pp
|
0.1pp
|
Effective tax rate
(in %)
|
26.7
|
|
28.1
|
|
|
20.9
|
|
25.6
|
5.8pp
|
2.5pp
|
|
Earnings per
share, basic (in €)
|
1.16
|
|
1.46
|
|
|
0.74
|
|
1.39
|
57
|
5
|
|
|
1)
Adjustments in the revenue line items are for software support
revenue, cloud subscriptions and support revenue, and other
similarly recurring revenues that entities acquired by SAP would
have recognized had they remained stand-alone entities but that SAP
is not permitted to recognize as revenue under IFRS as a result of
business combination accounting rules. Adjustments in the operating
expense line items are for acquisition-related charges, share-based
payment expenses, as well as restructuring expenses.
|
2)
Constant currency revenue and operating income figures are
calculated by translating revenue and operating income of the
current period using the average exchange rates from the previous
year's respective period instead of the current period. Constant
currency period-over-period changes are calculated by comparing the
current year's non-IFRS constant currency numbers with the non-IFRS
number of the previous year's respective period.
|
For a more detailed
description of these adjustments and their limitations as well as
our constant currency figures, see our Web site
www.sap.com/corporate-en/investors/newsandreports/reporting-framework.epx
under "Non-IFRS Measures, Adjustments and Full-Year
Estimates".
|
|
Due to rounding,
numbers may not add up precisely.
|
Non-IFRS
Adjustments – Actuals and Estimates
|
|
€ millions
|
Estimated Amounts
for Full Year 2016
|
Q2 2016
|
Q1–Q2
2016
|
Q2 2015
|
Q1–Q2 2015
|
Operating profit
(IFRS)
|
|
1,269
|
2,082
|
701
|
1,339
|
Revenue
adjustments
|
<20
|
2
|
4
|
2
|
8
|
Adjustment for
acquisition-related charges
|
680 to 730
|
166
|
336
|
188
|
371
|
Adjustment for
share-based payment expenses
|
560 to 610
|
67
|
177
|
135
|
314
|
Adjustment for
restructuring
|
30 to 50
|
11
|
22
|
367
|
418
|
Operating expense
adjustments
|
|
245
|
535
|
691
|
1,104
|
Operating profit
adjustments
|
|
247
|
538
|
693
|
1,112
|
Operating profit
(Non-IFRS)
|
|
1,516
|
2,620
|
1,394
|
2,451
|
Non-IFRS
Adjustments by Functional Areas
|
|
€ millions
|
Q2 2016
|
Q2 2015
|
IFRS
|
Acquisition-
Related
|
SBP1)
|
Restruc-
turing
|
Non-
IFRS
|
IFRS
|
Acquisition-
Related
|
SBP1)
|
Restruc-
turing
|
Non-
IFRS
|
|
Cost of cloud and
software
|
–816
|
97
|
8
|
0
|
–711
|
–800
|
106
|
15
|
0
|
–677
|
|
Cost of
services
|
–733
|
3
|
9
|
0
|
–721
|
–738
|
21
|
22
|
0
|
–695
|
|
Research and
development
|
–710
|
2
|
19
|
0
|
–689
|
–698
|
16
|
40
|
0
|
–645
|
|
Sales and
marketing
|
–1,473
|
59
|
23
|
0
|
–1,391
|
–1,412
|
45
|
49
|
0
|
–1,318
|
|
General and
administration
|
–229
|
4
|
8
|
0
|
–217
|
–256
|
1
|
9
|
0
|
–246
|
|
Restructuring
|
–11
|
0
|
0
|
11
|
0
|
–367
|
0
|
0
|
367
|
0
|
|
Other operating
income/expense, net
|
4
|
0
|
0
|
0
|
4
|
3
|
0
|
0
|
0
|
3
|
|
Total operating
expenses
|
–3,968
|
166
|
67
|
11
|
–3,724
|
–4,269
|
188
|
135
|
367
|
–3,578
|
|
1) Share-based Payments
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
€ millions
|
Q1–Q2 2016
|
Q1–Q2 2015
|
IFRS
|
Acquisition-
Related
|
SBP1)
|
Restruc-
turing
|
Non-
IFRS
|
IFRS
|
Acquisition-
Related
|
SBP1)
|
Restruc-
turing
|
Non- IFRS
|
Cost of cloud and
software
|
–1,604
|
195
|
22
|
0
|
–1,387
|
–1,568
|
209
|
32
|
0
|
–1,325
|
Cost of
services
|
–1,506
|
6
|
24
|
0
|
–1,476
|
–1,465
|
41
|
50
|
0
|
–1,373
|
Research and
development
|
–1,419
|
5
|
44
|
0
|
–1,370
|
–1,393
|
31
|
80
|
0
|
–1,285
|
Sales and
marketing
|
–2,871
|
123
|
67
|
0
|
–2,680
|
–2,758
|
88
|
102
|
0
|
–2,568
|
General and
administration
|
–460
|
7
|
20
|
0
|
–433
|
–528
|
1
|
51
|
0
|
–476
|
Restructuring
|
–22
|
0
|
0
|
22
|
0
|
–418
|
0
|
0
|
418
|
0
|
Other operating
income/expense, net
|
–1
|
0
|
0
|
0
|
–1
|
3
|
0
|
0
|
0
|
3
|
Total operating
expenses
|
–7,882
|
336
|
177
|
22
|
–7,348
|
–8,128
|
371
|
314
|
418
|
–7,024
|
1)
Share-based Payments
|
|
|
|
|
|
|
|
|
|
|
|
|
|
If not presented in a
separate line item in our income statement, the restructuring
expenses would break down as follows:
|
€ millions
|
Q2 2016
|
Q1–Q2
2016
|
Q2 2015
|
Q1–Q2
2015
|
Cost of cloud and
software
|
1
|
2
|
53
|
60
|
Cost of
services
|
2
|
5
|
129
|
145
|
Research and
development
|
0
|
3
|
101
|
109
|
Sales and
marketing
|
8
|
11
|
73
|
88
|
General and
administration
|
0
|
1
|
11
|
16
|
Restructuring
expenses
|
11
|
22
|
367
|
418
|
Revenue by Region
(IFRS and Non-IFRS)
|
|
€ millions
|
Q2 2016
|
Q2 2015
|
∆ in
%
|
|
IFRS
|
Adj.1)
|
Non-
IFRS1)
|
Currency
Impact2)
|
Non-IFRS
Constant Currency2)
|
IFRS
|
Adj.1)
|
Non-
IFRS1)
|
IFRS
|
Non-
IFRS1)
|
Non-IFRS
Constant Currency2)
|
Cloud subscriptions
and support revenue by region
|
|
|
|
|
|
|
EMEA
|
168
|
0
|
168
|
4
|
172
|
122
|
0
|
122
|
38
|
38
|
41
|
Americas
|
482
|
0
|
483
|
14
|
496
|
382
|
2
|
384
|
26
|
26
|
29
|
APJ
|
70
|
0
|
70
|
2
|
71
|
49
|
0
|
49
|
44
|
44
|
47
|
Cloud subscriptions
and support revenue
|
720
|
1
|
721
|
19
|
740
|
552
|
2
|
555
|
30
|
30
|
33
|
|
|
|
|
|
|
|
|
|
|
|
|
Cloud and software
revenue by region
|
|
|
|
|
|
|
EMEA
|
1,872
|
0
|
1,872
|
67
|
1,938
|
1,749
|
0
|
1,749
|
7
|
7
|
11
|
Americas
|
1,809
|
2
|
1,812
|
53
|
1,865
|
1,679
|
2
|
1,681
|
8
|
8
|
11
|
APJ
|
678
|
0
|
678
|
13
|
691
|
634
|
0
|
634
|
7
|
7
|
9
|
Cloud and software
revenue
|
4,359
|
2
|
4,361
|
133
|
4,494
|
4,062
|
2
|
4,065
|
7
|
7
|
11
|
|
|
|
|
|
|
|
|
|
|
|
|
Total revenue by
region
|
|
|
|
|
|
|
Germany
|
681
|
0
|
681
|
0
|
681
|
630
|
0
|
630
|
8
|
8
|
8
|
Rest of
EMEA
|
1,588
|
0
|
1,589
|
77
|
1,666
|
1,509
|
0
|
1,509
|
5
|
5
|
10
|
Total EMEA
|
2,270
|
0
|
2,270
|
77
|
2,347
|
2,139
|
0
|
2,139
|
6
|
6
|
10
|
United
States
|
1,739
|
2
|
1,741
|
35
|
1,776
|
1,654
|
2
|
1,656
|
5
|
5
|
7
|
Rest of
Americas
|
427
|
0
|
427
|
33
|
460
|
411
|
0
|
411
|
4
|
4
|
12
|
Total
Americas
|
2,165
|
2
|
2,167
|
68
|
2,235
|
2,064
|
2
|
2,066
|
5
|
5
|
8
|
Japan
|
200
|
0
|
200
|
–20
|
180
|
152
|
0
|
152
|
32
|
32
|
19
|
Rest of APJ
|
602
|
0
|
602
|
36
|
639
|
615
|
0
|
615
|
–2
|
–2
|
4
|
Total APJ
|
802
|
0
|
802
|
17
|
819
|
767
|
0
|
767
|
5
|
5
|
7
|
Total
revenue
|
5,237
|
2
|
5,239
|
162
|
5,401
|
4,970
|
2
|
4,972
|
5
|
5
|
9
|
|
1)
Adjustments in the revenue line items are for support revenue,
cloud subscriptions and support revenue, and other similarly
recurring revenues that entities acquired by SAP would have
recognized had they remained stand-alone entities but that SAP is
not permitted to recognize as revenue under IFRS as a result of
business combination accounting rules.
|
2)
Constant currency revenue figures are calculated by translating
revenue of the current period using the average exchange rates from
the previous year's respective period instead of the current
period. Constant currency period-over-period changes are calculated
by comparing the current year's non-IFRS constant currency numbers
with the non-IFRS number of the previous year's respective
period.
|
|
For a more detailed
description of these adjustments and their limitations as well as
our constant currency figures, see our Web site
www.sap.com/corporate-en/investors/newsandreports/reporting-framework.epx
under "Non-IFRS Measures and Estimates".
|
|
Due to rounding,
numbers may not add up precisely.
|
€ millions
|
Q1–Q2 2016
|
Q1–Q2 2015
|
∆ in
%
|
|
IFRS
|
Adj.1)
|
Non-
IFRS1)
|
Currency
Impact2)
|
Non-IFRS Constant Currency2)
|
IFRS
|
Adj.1)
|
Non-
IFRS1)
|
IFRS
|
Non-
IFRS1)
|
Non-IFRS
Constant Currency2)
|
Cloud subscriptions
and support revenue by region
|
|
|
|
|
|
|
EMEA
|
329
|
0
|
329
|
5
|
334
|
229
|
1
|
230
|
44
|
43
|
45
|
Americas
|
942
|
1
|
943
|
9
|
952
|
733
|
7
|
740
|
28
|
27
|
29
|
APJ
|
127
|
0
|
127
|
3
|
130
|
93
|
0
|
93
|
36
|
35
|
39
|
Cloud subscriptions
and support revenue
|
1,397
|
1
|
1,399
|
17
|
1,415
|
1,056
|
8
|
1,063
|
32
|
32
|
33
|
|
|
|
|
|
|
|
|
|
|
|
|
Cloud and software
revenue by region
|
|
|
|
|
|
|
EMEA
|
3,557
|
1
|
3,558
|
96
|
3,654
|
3,311
|
1
|
3,312
|
7
|
7
|
10
|
Americas
|
3,393
|
3
|
3,396
|
34
|
3,429
|
3,195
|
7
|
3,202
|
6
|
6
|
7
|
APJ
|
1,259
|
0
|
1,259
|
26
|
1,285
|
1,209
|
0
|
1,209
|
4
|
4
|
6
|
Cloud and software
revenue
|
8,208
|
4
|
8,212
|
156
|
8,368
|
7,715
|
8
|
7,723
|
6
|
6
|
8
|
|
|
|
|
|
|
|
|
|
|
|
|
Total revenue by
region
|
|
|
|
|
|
|
Germany
|
1,286
|
0
|
1,286
|
0
|
1,286
|
1,188
|
0
|
1,188
|
8
|
8
|
8
|
Rest of
EMEA
|
3,030
|
0
|
3,031
|
113
|
3,144
|
2,884
|
1
|
2,885
|
5
|
5
|
9
|
Total EMEA
|
4,316
|
1
|
4,317
|
113
|
4,430
|
4,072
|
1
|
4,073
|
6
|
6
|
9
|
United
States
|
3,344
|
3
|
3,347
|
9
|
3,356
|
3,117
|
6
|
3,123
|
7
|
7
|
7
|
Rest of
Americas
|
798
|
0
|
798
|
44
|
842
|
810
|
0
|
810
|
–1
|
–1
|
4
|
Total
Americas
|
4,142
|
3
|
4,145
|
53
|
4,198
|
3,926
|
7
|
3,933
|
5
|
5
|
7
|
Japan
|
369
|
0
|
369
|
–28
|
341
|
306
|
0
|
307
|
20
|
20
|
11
|
Rest of APJ
|
1,137
|
0
|
1,137
|
62
|
1,199
|
1,162
|
0
|
1,162
|
–2
|
–2
|
3
|
Total APJ
|
1,506
|
0
|
1,506
|
34
|
1,539
|
1,468
|
0
|
1,469
|
3
|
3
|
5
|
Total
revenue
|
9,964
|
4
|
9,967
|
200
|
10,167
|
9,467
|
8
|
9,475
|
5
|
5
|
7
|
|
1)
Adjustments in the revenue line items are for support revenue,
cloud subscriptions and support revenue, and other similarly
recurring revenues that entities acquired by SAP would have
recognized had they remained stand-alone entities but that SAP is
not permitted to recognize as revenue under IFRS as a result of
business combination accounting rules.
|
2)
Constant currency revenue figures are calculated by translating
revenue of the current period using the average exchange rates from
the previous year's respective period instead of the current
period. Constant currency period-over-period changes are calculated
by comparing the current year's non-IFRS constant currency numbers
with the non-IFRS number of the previous year's respective
period.
|
For a more detailed
description of these adjustments and their limitations as well as
our constant currency figures, see our Web
site www.sap.com/corporate-en/investors/newsandreports/reporting-framework.epx
under "Non-IFRS Measures and Estimates".
|
|
Due to rounding,
numbers may not add up precisely.
|
Employees by
Region and Functional Areas
|
|
|
30.6.2016
|
30.6.2015
|
Full-time
equivalents
|
EMEA
|
Americas
|
APJ
|
Total
|
EMEA
|
Americas
|
APJ
|
Total
|
Cloud and
software
|
6,214
|
4,054
|
5,084
|
15,352
|
5,899
|
3,805
|
4,915
|
14,619
|
Services
|
6,443
|
4,006
|
3,738
|
14,187
|
6,673
|
3,806
|
3,193
|
13,672
|
Research and
development
|
9,927
|
4,501
|
7,382
|
21,810
|
9,247
|
3,994
|
6,148
|
19,389
|
Sales and
marketing
|
8,109
|
8,350
|
4,202
|
20,661
|
7,703
|
7,497
|
3,797
|
18,997
|
General and
administration
|
2,542
|
1,677
|
990
|
5,208
|
2,461
|
1,661
|
1,017
|
5,139
|
Infrastructure
|
1,530
|
772
|
443
|
2,745
|
1,483
|
811
|
387
|
2,681
|
SAP Group (June
30)
|
34,764
|
23,359
|
21,838
|
79,962
|
33,467
|
21,574
|
19,456
|
74,497
|
Thereof acquisitions
1)
|
25
|
25
|
0
|
50
|
0
|
0
|
0
|
0
|
SAP Group (average
first half year)
|
34,284
|
22,861
|
21,416
|
78,561
|
33,469
|
21,740
|
19,171
|
74,381
|
|
1) Acquisitions closed between
January 1 and June 30 of the respective
year.
|
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