WALLDORF, Germany, Oct. 21, 2016 /PRNewswire/ -- SAP SE (NYSE: SAP)
today announced its financial results for the third quarter and
nine months ended September 30,
2016.
"Strong customer adoption of the SAP portfolio is driving
results beyond expectations. The S/4HANA innovation cycle is the
fastest in our history and is catalyzing the performance of all SAP
cloud solutions. We are a growth company and confidently raise our
guidance for the full year." - Bill
McDermott, CEO
"In the third quarter we demonstrated continued momentum and
strong execution. Year to date we are tracking to the upper end of
all outlook metrics set at the beginning of the year. Paired with a
robust pipeline, this gives us the confidence that we will deliver
yet another strong fourth quarter." - Luka Mucic, CFO
Business Highlights
Financial Highlights
Third quarter IFRS cloud subscriptions and support revenue grew 28%
year-over-year to €769 million. Non-IFRS cloud subscriptions and
support revenue rose 28% year-over-year (29% at constant
currencies) to €769 million. New cloud bookings1 were up
24% (24% at constant currencies) in the third quarter and reached
€265 million.
SAP's 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 64% of total revenue
in the third quarter 2016, up 1 percentage point.
SAP is outpacing its main competitor in cloud and software
revenue growth. IFRS cloud and software revenue was €4.45 billion,
an increase of 8%. Non-IFRS cloud and software revenue was €4.46
billion, an increase of 8% (9% at constant currencies).
IFRS operating profit was down 9% to €1.10 billion reflecting an
increase in stock based compensation expense following the strong
appreciation of SAP's share price in the third quarter. Non-IFRS
operating profit was up 1% to €1.64 billion. IFRS earnings per
share decreased 19% to €0.61. Non-IFRS earnings per share decreased
7% to €0.91. This decline was due to higher stock based
compensation expense (IFRS only) and lower non-operating and
financial income.
For the nine months ended September
30, operating cash flow was €3.63 billion (2015: €3.24
billion), an increase of 12% year-over-year, and free cash flow
increased 5% year-over-year to €2.96 billion (2015: €2.82
billion).
SAP S/4HANA and SAP HANA Cloud Platform
SAP added more than 400 SAP S/4HANA customers in the quarter, of
which approximately 40% are net new SAP customers. Customers
continue to embrace the benefits of running a live business on a
massively simplified architecture. The SAP HANA Cloud Platform
allows customers to extend functionalities, build new fast-paced
applications with rapid development tools, and integrate across
applications and deployment models. The HANA Cloud Platform is
instrumental in the Internet of Things (IoT) revolution by
providing connectivity to a large variety of devices and machines.
With SAP IoT technology, customers like Trenitalia, Italy's largest train company, are connecting
transportation vehicles and tools to revolutionize asset management
with real-time insights from sensors.
Human Capital Management
SAP continues to gain traction with its cloud-based Human Capital
Management solutions. SAP delivers total workforce management
solutions globally across permanent and contingent labor. SAP is
infusing intelligent services like automated matching of resumes to
open positions and machine learning to root out bias in the
workplace while promoting diversity and inclusion. The customer
count for SAP SuccessFactors Employee Central, which is the core of
our Human Capital Management offerings, exceeded 1,350 at the end
of the third 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 high double-digit year-over-year customer
growth in the third 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 17% at constant currencies in the third
quarter.
Approximately 2.4 million connected companies trade over
$840 billion of commerce on the
Ariba network, more than 44 million end users process travel and
expenses effortlessly with Concur and customers managed over 2.8
million flexible workers in approximately 130 countries with the
Fieldglass platform over the past 12 months.
Regional Revenue Performance
The Company had a strong performance in the EMEA region, with an
increase in cloud and software revenue of 6% (IFRS) and 8%
(non-IFRS at constant currencies). Cloud subscriptions and support
revenue grew 34% (IFRS) and 38% (non-IFRS at constant currencies).
In EMEA, SAP had double-digit software licenses revenue growth in
Germany, France, UK and South
Africa.
In the Americas region, the Company grew cloud and software
revenue by 9% (IFRS) and 9% (non-IFRS at constant currencies) and
cloud subscriptions and support revenue by 24% (IFRS) and 24%
(non-IFRS at constant currencies). In Latin America, despite continued macroeconomic
headwinds, SAP had solid double-digit growth in software licenses
revenue in Brazil and Mexico.
In the APJ region cloud and software revenue was up 13% (IFRS)
and 8% (non-IFRS at constant currencies), with cloud subscriptions
and support revenue growing by 50% (IFRS) and 46% (non-IFRS at
constant currencies). In APJ, SAP had double-digit software
licenses revenue growth in Japan,
Malaysia and Singapore and solid software licenses revenue
growth in SAP's Greater China
region2.
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 SAP's
Greater China region includes China, Hong Kong and
Taiwan.
|
Financial Results at a Glance
Third Quarter
20161)
|
|
IFRS
|
Non-IFRS2)
|
€ million, unless
otherwise stated
|
Q3 2016
|
Q3 2015
|
∆ in %
|
Q3 2016
|
Q3 2015
|
∆ in %
|
∆ in %
const.
curr.
|
New Cloud
Bookings3)
|
N/A
|
N/A
|
N/A
|
265
|
213
|
24
|
24
|
Cloud subscriptions
and support
|
769
|
599
|
28
|
769
|
600
|
28
|
29
|
Software licenses and
support
|
3,686
|
3,523
|
5
|
3,687
|
3,524
|
5
|
5
|
Cloud and
software
|
4,455
|
4,122
|
8
|
4,456
|
4,124
|
8
|
9
|
Total
revenue
|
5,375
|
4,985
|
8
|
5,375
|
4,987
|
8
|
8
|
Share of predictable
revenue (in %)
|
64
|
62
|
1pp
|
64
|
62
|
1pp
|
|
Operating
profit
|
1,103
|
1,214
|
–9
|
1,638
|
1,616
|
1
|
1
|
Profit after
tax
|
725
|
895
|
–19
|
1,089
|
1,173
|
–7
|
|
Basic earnings per
share (€)
|
0.61
|
0.75
|
–19
|
0.91
|
0.98
|
–7
|
|
Number of employees
(FTE)
|
82,426
|
75,643
|
9
|
N/A
|
N/A
|
N/A
|
N/A
|
First Nine Months
20161)
|
|
IFRS
|
Non-IFRS2)
|
€ million, unless
otherwise stated
|
Q1–Q3
2016
|
Q1–Q3
2015
|
∆ in %
|
Q1–Q3
2016
|
Q1–Q3
2015
|
∆ in %
|
∆ in %
const.
curr.
|
New Cloud
Bookings3)
|
N/A
|
N/A
|
N/A
|
664
|
529
|
26
|
27
|
Cloud subscriptions
and support
|
2,166
|
1,654
|
31
|
2,168
|
1,664
|
30
|
32
|
Software licenses and
support
|
10,497
|
10,183
|
3
|
10,500
|
10,184
|
3
|
5
|
Cloud and
software
|
12,663
|
11,837
|
7
|
12,668
|
11,848
|
7
|
8
|
Total
revenue
|
15,339
|
14,451
|
6
|
15,343
|
14,462
|
6
|
8
|
Share of predictable
revenue (in %)
|
65
|
63
|
2pp
|
65
|
63
|
2pp
|
|
Operating
profit
|
3,184
|
2,552
|
25
|
4,258
|
4,066
|
5
|
5
|
Profit after
tax
|
2,108
|
1,778
|
19
|
2,832
|
2,831
|
0
|
|
Basic earnings per
share (€)
|
1.77
|
1.49
|
19
|
2.37
|
2.37
|
0
|
|
Number of employees
(FTE)
|
82,426
|
75,643
|
9
|
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 is no IFRS equivalent.
|
|
Due to rounding,
numbers may not add up precisely.
|
Business Outlook 2016
The Company is raising its outlook for the full year 2016:
- The Company now expects full year 2016 non-IFRS cloud
subscriptions and support revenue to be in a range of €3.00 - €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 now expects full year 2016 non-IFRS cloud and
software revenue to increase by 6.5% - 8.5% at constant currencies
(2015: €17.23 billion).
- The Company now expects full-year 2016 non-IFRS operating
profit to be in a range of €6.5 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 September 2016 levels for the rest of the year,
the Company expects its non-IFRS cloud and software revenue growth
rate to experience a currency impact in a range of -3 to -1
percentage points for the fourth quarter and the full year 2016 and
its non-IFRS operating profit growth rate to experience a currency
impact in a range of -2 to 0 percentage points for the fourth
quarter and the full year 2016.
Additional Information
General Remarks About this Quarterly Statement
Until
2015, 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.
Starting in 2016, 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 Friday, October 21st 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 335,000 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
|
Q3
2016
|
Revenues
|
|
|
|
|
|
|
|
|
Cloud subscriptions
and support (IFRS)
|
503
|
552
|
599
|
631
|
2,286
|
677
|
720
|
769
|
Cloud subscriptions
and support (non-IFRS)
|
509
|
555
|
600
|
632
|
2,296
|
678
|
721
|
769
|
% change –
yoy
|
131
|
129
|
116
|
76
|
109
|
33
|
30
|
28
|
% change constant
currency – yoy
|
95
|
92
|
90
|
60
|
82
|
33
|
33
|
29
|
Software licenses
(IFRS)
|
696
|
979
|
1,014
|
2,146
|
4,835
|
609
|
1,040
|
1,034
|
Software licenses
(non-IFRS)
|
696
|
979
|
1,015
|
2,146
|
4,836
|
609
|
1,042
|
1,034
|
% change –
yoy
|
12
|
2
|
7
|
15
|
10
|
–13
|
6
|
2
|
% change constant
currency – yoy
|
1
|
–7
|
4
|
11
|
4
|
–10
|
10
|
2
|
Software support
(IFRS)
|
2,454
|
2,531
|
2,509
|
2,600
|
10,093
|
2,564
|
2,598
|
2,653
|
Software support
(non-IFRS)
|
2,454
|
2,531
|
2,509
|
2,600
|
10,094
|
2,564
|
2,598
|
2,653
|
% change –
yoy
|
17
|
17
|
12
|
11
|
14
|
5
|
3
|
6
|
% change constant
currency – yoy
|
7
|
7
|
6
|
6
|
7
|
5
|
6
|
6
|
Software licenses and
support (IFRS)
|
3,150
|
3,510
|
3,523
|
4,745
|
14,928
|
3,172
|
3,639
|
3,686
|
Software licenses and
support (non-IFRS)
|
3,150
|
3,510
|
3,524
|
4,745
|
14,930
|
3,173
|
3,640
|
3,687
|
% change –
yoy
|
16
|
13
|
11
|
13
|
13
|
1
|
4
|
5
|
% change constant
currency – yoy
|
5
|
3
|
6
|
9
|
6
|
2
|
7
|
5
|
Cloud and software
(IFRS)
|
3,653
|
4,062
|
4,122
|
5,377
|
17,214
|
3,850
|
4,359
|
4,455
|
Cloud and software
(non-IFRS)
|
3,659
|
4,065
|
4,124
|
5,378
|
17,226
|
3,851
|
4,361
|
4,456
|
% change –
yoy
|
24
|
21
|
19
|
18
|
20
|
5
|
7
|
8
|
% change constant
currency – yoy
|
12
|
9
|
12
|
13
|
12
|
6
|
11
|
9
|
Total revenue
(IFRS)
|
4,497
|
4,970
|
4,985
|
6,342
|
20,793
|
4,727
|
5,237
|
5,375
|
Total revenue
(non-IFRS)
|
4,502
|
4,972
|
4,987
|
6,343
|
20,805
|
4,728
|
5,239
|
5,375
|
% change –
yoy
|
22
|
20
|
17
|
16
|
18
|
5
|
5
|
8
|
% change constant
currency – yoy
|
10
|
8
|
10
|
11
|
10
|
6
|
9
|
8
|
Share of predictable
revenue (IFRS, in %)
|
66
|
62
|
62
|
51
|
60
|
69
|
63
|
64
|
Share of predictable
revenue (non-IFRS, in %)
|
66
|
62
|
62
|
51
|
60
|
69
|
63
|
64
|
|
|
|
|
|
|
|
|
|
Profits
|
|
|
|
|
|
|
|
|
Operating profit
(IFRS)
|
638
|
701
|
1,214
|
1,700
|
4,252
|
813
|
1,269
|
1,103
|
Operating profit
(non-IFRS)
|
1,056
|
1,394
|
1,616
|
2,282
|
6,348
|
1,104
|
1,516
|
1,638
|
% change
|
15
|
13
|
19
|
7
|
13
|
5
|
9
|
1
|
% change constant
currency
|
–2
|
1
|
15
|
3
|
5
|
4
|
11
|
1
|
Profit after tax
(IFRS)
|
413
|
469
|
895
|
1,278
|
3,056
|
570
|
813
|
725
|
Profit after tax
(non-IFRS)
|
697
|
960
|
1,173
|
1,670
|
4,501
|
763
|
979
|
1,089
|
% change
|
5
|
2
|
16
|
6
|
8
|
9
|
2
|
–7
|
|
|
|
|
|
|
|
|
|
Margins
|
|
|
|
|
|
|
|
|
Cloud subscriptions
and support gross margin (IFRS, in %)
|
55.3
|
56.5
|
57.9
|
51.8
|
55.3
|
57.5
|
57.0
|
56.7
|
Cloud subscriptions
and support gross margin
(non-IFRS, in
%)
|
65.1
|
65.7
|
68.8
|
63.0
|
65.6
|
66.3
|
65.2
|
64.9
|
Software and support
gross margin (IFRS, in %)
|
82.8
|
84.0
|
85.0
|
86.1
|
84.7
|
84.2
|
86.1
|
85.4
|
Software and support
gross margin (non-IFRS, in %)
|
85.1
|
86.1
|
86.7
|
87.7
|
86.6
|
85.9
|
87.4
|
87.4
|
Cloud and software
gross margin (IFRS, in %)
|
79.0
|
80.3
|
81.1
|
82.1
|
80.8
|
79.5
|
81.3
|
80.5
|
Cloud and software
gross margin (non-IFRS, in %)
|
82.3
|
83.3
|
84.1
|
84.8
|
83.8
|
82.4
|
83.7
|
83.5
|
Gross margin (IFRS,
in %)
|
66.8
|
69.0
|
70.7
|
72.4
|
70.0
|
67.0
|
70.4
|
69.4
|
Gross margin
(non-IFRS, in %)
|
70.6
|
72.4
|
73.6
|
75.6
|
73.3
|
69.7
|
72.7
|
72.7
|
Operating margin
(IFRS, in %)
|
14.2
|
14.1
|
24.3
|
26.8
|
20.5
|
17.2
|
24.2
|
20.5
|
Operating margin
(non-IFRS, in %)
|
23.5
|
28.0
|
32.4
|
36.0
|
30.5
|
23.4
|
28.9
|
30.5
|
AT&S
Segment1) – Cloud subscriptions and support gross margin
(in %)
|
50
|
51
|
56
|
51
|
52
|
54
|
52
|
51
|
AT&S
Segment1) – Gross margin (in %)
|
71
|
73
|
74
|
77
|
74
|
70
|
73
|
74
|
AT&S
Segment1) – Segment margin (in %)
|
34
|
39
|
43
|
46
|
41
|
34
|
40
|
40
|
SAP BN
Segment2) – Cloud subscriptions and support gross margin
(in %)
|
75
|
75
|
77
|
72
|
75
|
75
|
76
|
77
|
SAP BN
Segment2) – Gross margin (in %)
|
68
|
68
|
71
|
65
|
68
|
67
|
68
|
68
|
SAP BN
Segment2) – Segment margin (in %)
|
18
|
16
|
24
|
20
|
19
|
16
|
18
|
20
|
|
|
|
|
|
|
|
|
|
Key Profit
Ratios
|
|
|
|
|
|
|
|
|
Effective tax rate
(IFRS, in %)
|
13.6
|
26.4
|
27.1
|
22.4
|
23.4
|
23.3
|
28.9
|
28.4
|
Effective tax rate
(non-IFRS, in %)
|
22.3
|
27.8
|
28.0
|
25.1
|
26.1
|
26.2
|
29.6
|
29.7
|
|
|
|
|
|
|
|
|
|
Earnings per share,
basic (IFRS, in €)
|
0.35
|
0.39
|
0.75
|
1.07
|
2.56
|
0.48
|
0.68
|
0.61
|
Earnings per share,
basic (non-IFRS, in €)
|
0.58
|
0.80
|
0.98
|
1.40
|
3.77
|
0.64
|
0.82
|
0.91
|
|
|
|
|
|
|
|
|
|
Order
Entry
|
|
|
|
|
|
|
|
|
New Cloud
Bookings
|
117
|
199
|
213
|
344
|
874
|
145
|
255
|
265
|
Deferred cloud
subscriptions and support revenue
(IFRS, quarter
end)
|
793
|
789
|
782
|
957
|
957
|
953
|
1,003
|
1,081
|
Orders – Number of
on-premise software deals
(in
transactions)
|
12,037
|
13,504
|
14,027
|
17,871
|
57,439
|
12,884
|
14,468
|
13,048
|
Share of software
orders greater than € 5 million (in % of total software order
entry)
|
23
|
24
|
24
|
31
|
27
|
17
|
29
|
26
|
Share of software
orders greater than € 1 million (in % of total software order
entry)
|
49
|
41
|
44
|
34
|
40
|
48
|
38
|
40
|
|
|
|
|
|
|
|
|
|
Liquidity and Cash
Flow
|
|
|
|
|
|
|
|
|
Net cash flows from
operating activities
|
2,366
|
410
|
466
|
397
|
3,638
|
2,482
|
439
|
707
|
Purchase of
intangible assets and property, plant, and equipment (without
acquisitions)
|
–139
|
–137
|
–148
|
–212
|
–636
|
–168
|
–237
|
–261
|
Free cash
flow
|
2,227
|
273
|
317
|
184
|
3,001
|
2,313
|
202
|
446
|
% of total revenue
(IFRS)
|
50
|
5
|
6
|
3
|
14
|
49
|
4
|
8
|
% of profit after tax
(IFRS)
|
539
|
58
|
35
|
14
|
98
|
406
|
25
|
61
|
Group liquidity,
gross
|
5,333
|
4,180
|
4,608
|
3,559
|
3,559
|
5,853
|
4,347
|
4,388
|
Group debt
|
–10,524
|
–10,432
|
–10,428
|
–9,174
|
–9,174
|
–9,080
|
–8,593
|
–8,134
|
Group liquidity,
net
|
–5,191
|
–6,251
|
–5,820
|
–5,615
|
–5,615
|
–3,227
|
–4,245
|
–3,746
|
Days' sales
outstanding (DSO, in days)3)
|
67
|
68
|
69
|
71
|
71
|
72
|
73
|
74
|
|
|
|
|
|
|
|
|
|
Financial
Position
|
|
|
|
|
|
|
|
|
Cash and cash
equivalents
|
4,635
|
3,923
|
3,844
|
3,411
|
3,411
|
5,743
|
4,206
|
4,112
|
Goodwill
|
22,896
|
22,300
|
22,222
|
22,689
|
22,689
|
21,922
|
22,354
|
22,276
|
Total
assets
|
43,753
|
41,088
|
40,649
|
41,390
|
41,390
|
42,884
|
41,788
|
41,601
|
Equity
|
22,117
|
20,801
|
21,540
|
23,295
|
23,295
|
22,920
|
22,963
|
23,764
|
Equity ratio (total
equity in % of total assets)
|
51
|
51
|
53
|
56
|
56
|
53
|
55
|
57
|
|
|
|
|
|
|
|
|
|
Non-Financials
|
|
|
|
|
|
|
|
|
Headcount (quarter
end)4)
|
74,551
|
74,497
|
75,643
|
76,986
|
76,986
|
78,230
|
79,962
|
82,426
|
Employee retention
(in %, rolling 12 months)
|
93.3
|
92.6
|
91.9
|
91.8
|
91.8
|
92.0
|
92.6
|
93.4
|
Women in management
(in %, quarter end)
|
22.3
|
22.9
|
23.2
|
23.6
|
23.6
|
23.6
|
24.1
|
24.3
|
Greenhouse gas
emissions (in kilotons)
|
145
|
125
|
110
|
75
|
455
|
120
|
95
|
85
|
|
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
|
|
Q3 2016
|
Q3 2015
|
∆ in %
|
Cloud subscriptions
and support
|
|
769
|
599
|
28
|
Software
licenses
|
|
1,034
|
1,014
|
2
|
Software
support
|
|
2,653
|
2,509
|
6
|
Software licenses and
support
|
|
3,686
|
3,523
|
5
|
Cloud and
software
|
|
4,455
|
4,122
|
8
|
Services
|
|
920
|
863
|
7
|
Total
revenue
|
|
5,375
|
4,985
|
8
|
|
|
|
|
|
Cost of cloud
subscriptions and support
|
|
–333
|
–252
|
32
|
Cost of software
licenses and support
|
|
–537
|
–528
|
2
|
Cost of cloud and
software
|
|
–870
|
–780
|
11
|
Cost of
services
|
|
–776
|
–680
|
14
|
Total cost of
revenue
|
|
–1,646
|
–1,460
|
13
|
Gross
profit
|
|
3,729
|
3,525
|
6
|
Research and
development
|
|
–766
|
–657
|
17
|
Sales and
marketing
|
|
–1,590
|
–1,269
|
25
|
General and
administration
|
|
–268
|
–239
|
12
|
Restructuring
|
|
1
|
–145
|
<-100
|
Other operating
income/expense, net
|
|
–4
|
–3
|
55
|
Total operating
expenses
|
|
–4,272
|
–3,771
|
13
|
Operating
profit
|
|
1,103
|
1,214
|
–9
|
|
|
|
|
|
Other non-operating
income/expense, net
|
|
–43
|
–26
|
65
|
Finance
income
|
|
32
|
102
|
–69
|
Finance
costs
|
|
–78
|
–60
|
30
|
Financial income,
net
|
|
–46
|
42
|
<-100
|
Profit before
tax
|
|
1,013
|
1,229
|
–18
|
|
|
|
|
|
Income tax
expense
|
|
–288
|
–333
|
–14
|
Profit after
tax
|
|
725
|
895
|
–19
|
Attributable to owners
of parent
|
|
730
|
898
|
–19
|
Attributable to
non-controlling interests
|
|
–5
|
–2
|
>100
|
|
|
|
|
|
Earnings per share,
basic (in €)1)
|
|
0.61
|
0.75
|
–19
|
Earnings per share,
diluted (in €)1)
|
|
0.61
|
0.75
|
–19
|
|
1) For the
three months ended September 30, 2016 and 2015, the weighted
average number of shares was 1,198 million (diluted 1,199 million)
and 1,198 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) – Nine
Months
|
|
€ millions, unless
otherwise stated
|
|
Q1–Q3
2016
|
Q1–Q3
2015
|
∆ in %
|
Cloud subscriptions
and support
|
|
2,166
|
1,654
|
31
|
Software
licenses
|
|
2,682
|
2,689
|
0
|
Software
support
|
|
7,815
|
7,494
|
4
|
Software licenses and
support
|
|
10,497
|
10,183
|
3
|
Cloud and
software
|
|
12,663
|
11,837
|
7
|
Services
|
|
2,675
|
2,614
|
2
|
Total
revenue
|
|
15,339
|
14,451
|
6
|
|
|
|
|
|
Cost of cloud
subscriptions and support
|
|
–930
|
–717
|
30
|
Cost of software
licenses and support
|
|
–1,543
|
–1,631
|
–5
|
Cost of cloud and
software
|
|
–2,474
|
–2,349
|
5
|
Cost of
services
|
|
–2,282
|
–2,145
|
6
|
Total cost of
revenue
|
|
–4,756
|
–4,494
|
6
|
Gross
profit
|
|
10,583
|
9,957
|
6
|
Research and
development
|
|
–2,184
|
–2,049
|
7
|
Sales and
marketing
|
|
–4,461
|
–4,027
|
11
|
General and
administration
|
|
–727
|
–766
|
–5
|
Restructuring
|
|
–20
|
–563
|
–96
|
Other operating
income/expense, net
|
|
–5
|
0
|
<-100
|
Total operating
expenses
|
|
–12,154
|
–11,899
|
2
|
Operating
profit
|
|
3,184
|
2,552
|
25
|
|
|
|
|
|
Other non-operating
income/expense, net
|
|
–180
|
–228
|
–21
|
Finance
income
|
|
105
|
189
|
–44
|
Finance
costs
|
|
–210
|
–169
|
24
|
Financial income,
net
|
|
–105
|
20
|
<-100
|
Profit before
tax
|
|
2,900
|
2,344
|
24
|
|
|
|
|
|
Income tax
expense
|
|
–792
|
–567
|
40
|
Profit after
tax
|
|
2,108
|
1,778
|
19
|
Attributable to owners
of parent
|
|
2,118
|
1,783
|
19
|
Attributable to
non-controlling interests
|
|
–10
|
–5
|
98
|
|
|
|
|
|
Earnings per share,
basic (in €)1)
|
|
1.77
|
1.49
|
19
|
Earnings per share,
diluted (in €)1)
|
|
1.77
|
1.49
|
19
|
|
1) For the
nine months ended September 30, 2016 and 2015, the weighted average
number of shares was 1,198 million (diluted 1,199 million) and
1,196 million (diluted: 1,197 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 September 30,
2016 and December 31, 2015
|
€ millions
|
|
2016
|
2015
|
Cash and cash
equivalents
|
|
4,112
|
3,411
|
Other financial
assets
|
|
501
|
351
|
Trade and other
receivables
|
|
4,824
|
5,274
|
Other non-financial
assets
|
|
636
|
468
|
Tax assets
|
|
300
|
235
|
Total current
assets
|
|
10,374
|
9,739
|
Goodwill
|
|
22,276
|
22,689
|
Intangible
assets
|
|
3,730
|
4,280
|
Property, plant, and
equipment
|
|
2,373
|
2,192
|
Other financial
assets
|
|
1,411
|
1,336
|
Trade and other
receivables
|
|
111
|
87
|
Other non-financial
assets
|
|
396
|
332
|
Tax assets
|
|
391
|
282
|
Deferred tax
assets
|
|
539
|
453
|
Total non-current
assets
|
|
31,227
|
31,651
|
Total
assets
|
|
41,601
|
41,390
|
|
€ millions
|
|
2016
|
2015
|
Trade and other
payables
|
|
1,114
|
1,088
|
Tax
liabilities
|
|
249
|
230
|
Financial
liabilities
|
|
1,269
|
841
|
Other non-financial
liabilities
|
|
2,752
|
3,407
|
Provisions
|
|
192
|
299
|
Deferred
income
|
|
3,373
|
2,001
|
Total current
liabilities
|
|
8,949
|
7,867
|
Trade and other
payables
|
|
113
|
81
|
Tax
liabilities
|
|
448
|
402
|
Financial
liabilities
|
|
7,248
|
8,681
|
Other non-financial
liabilities
|
|
405
|
331
|
Provisions
|
|
191
|
180
|
Deferred tax
liabilities
|
|
392
|
448
|
Deferred
income
|
|
90
|
106
|
Total non-current
liabilities
|
|
8,888
|
10,228
|
Total
liabilities
|
|
17,837
|
18,095
|
Issued
capital
|
|
1,229
|
1,229
|
Share
premium
|
|
565
|
558
|
Retained
earnings
|
|
20,785
|
20,044
|
Other components of
equity
|
|
2,263
|
2,561
|
Treasury
shares
|
|
–1,101
|
–1,124
|
Equity attributable to
owners of parent
|
|
23,742
|
23,267
|
|
|
|
|
Non-controlling
interests
|
|
22
|
28
|
Total
equity
|
|
23,764
|
23,295
|
Total equity and
liabilities
|
|
41,601
|
41,390
|
|
Due to rounding,
numbers may not add up precisely.
|
Consolidated
Statements of Cash Flows of SAP Group (IFRS)
|
|
€ millions
|
Q1–Q3 2016
|
Q1–Q3 2015
|
Profit after
tax
|
2,108
|
1,778
|
Adjustments to
reconcile profit after taxes to net cash flows from operating
activities:
|
|
|
Depreciation and
amortization
|
932
|
965
|
Income tax
expense
|
792
|
567
|
Financial income,
net
|
105
|
–20
|
Decrease/increase in
sales and bad debt allowances on trade receivables
|
61
|
111
|
Other adjustments for
non-cash items
|
8
|
–12
|
Decrease/increase in
trade and other receivables
|
290
|
197
|
Decrease/increase in
other assets
|
–351
|
–212
|
Decrease/increase in
trade payables, provisions, and other liabilities
|
–583
|
–248
|
Decrease/increase in
deferred income
|
1,402
|
1,216
|
Interest
paid
|
–145
|
–111
|
Interest
received
|
57
|
60
|
Income taxes paid,
net of refunds
|
–1,048
|
–1,049
|
Net cash flows from
operating activities
|
3,628
|
3,241
|
Business combinations,
net of cash and cash equivalents acquired
|
–54
|
–13
|
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
|
–54
|
253
|
Purchase of
intangible assets or property, plant, and equipment
|
–666
|
–424
|
Proceeds from sales
of intangible assets or property, plant, and equipment
|
48
|
46
|
Purchase of equity or
debt instruments of other entities
|
–559
|
–1,709
|
Proceeds from sales
of equity or debt instruments of other entities
|
457
|
1,042
|
Net cash flows from
investing activities
|
–773
|
–793
|
Dividends
paid
|
–1,378
|
–1,316
|
Proceeds from
reissuance of treasury shares
|
24
|
58
|
Proceeds from
borrowings
|
401
|
1,745
|
Repayments of
borrowings
|
–1,394
|
–2,520
|
Transactions with
non-controlling interests
|
3
|
0
|
Net cash flows from
financing activities
|
–2,345
|
–2,033
|
Effect of foreign
currency rates on cash and cash equivalents
|
192
|
101
|
Net decrease/increase
in cash and cash equivalents
|
702
|
516
|
Cash and cash
equivalents at the beginning of the period
|
3,411
|
3,328
|
Cash and cash
equivalents at the end of the period
|
4,112
|
3,844
|
|
Due to rounding,
numbers may not add up precisely.
|
Segment Reporting
(IFRS)
|
|
Applications,
Technology & Services
|
|
€ millions, unless
otherwise stated
|
Q3 2016
|
Q3 2015
|
∆ in %
|
∆ in %
|
Actual
Currency
|
Constant
Currency
|
Actual
Currency
|
Actual
Currency
|
Constant
Currency
|
Cloud subscriptions
and support
|
353
|
359
|
244
|
45
|
47
|
Software
licenses
|
1,013
|
1,017
|
1,001
|
1
|
2
|
Software
support
|
2,626
|
2,639
|
2,482
|
6
|
6
|
Software licenses and
support
|
3,639
|
3,656
|
3,482
|
4
|
5
|
Cloud and
software
|
3,992
|
4,014
|
3,727
|
7
|
8
|
Services
|
824
|
828
|
800
|
3
|
4
|
Total segment
revenue
|
4,816
|
4,843
|
4,526
|
6
|
7
|
Cost of cloud
subscriptions and support
|
–171
|
–171
|
–108
|
59
|
59
|
Cost of software
licenses and support
|
–461
|
–464
|
–453
|
2
|
2
|
Cost of cloud and
software
|
–632
|
–635
|
–560
|
13
|
13
|
Cost of
services
|
–635
|
–643
|
–613
|
4
|
5
|
Total cost of
revenue
|
–1,268
|
–1,278
|
–1,173
|
8
|
9
|
Segment gross
profit
|
3,548
|
3,565
|
3,353
|
6
|
6
|
Other segment
expenses
|
–1,598
|
–1,616
|
–1,420
|
13
|
14
|
Segment
profit
|
1,950
|
1,948
|
1,933
|
1
|
1
|
Margins
|
|
|
|
|
|
Cloud subscriptions
and support gross margin (in %)
|
51
|
52
|
56
|
–4pp
|
–4pp
|
Gross margin (in
%)
|
74
|
74
|
74
|
–0pp
|
–0pp
|
Segment margin (in
%)
|
40
|
40
|
43
|
–2pp
|
–2pp
|
SAP Business
Network
|
|
€ millions, unless
otherwise stated
|
Q3 2016
|
Q3 2015
|
∆ in %
|
∆ in %
|
Actual
Currency
|
Constant
Currency
|
Actual
Currency
|
Actual
Currency
|
Constant
Currency
|
Cloud subscriptions
and support
|
404
|
405
|
347
|
17
|
17
|
Software
licenses
|
0
|
0
|
0
|
0
|
0
|
Software
support
|
6
|
5
|
8
|
–31
|
–31
|
Software licenses and
support
|
5
|
5
|
8
|
–31
|
–32
|
Cloud and
software
|
410
|
410
|
355
|
15
|
16
|
Services
|
75
|
75
|
57
|
32
|
32
|
Total segment
revenue
|
485
|
486
|
412
|
18
|
18
|
Cost of cloud
subscriptions and support
|
–94
|
–94
|
–79
|
19
|
20
|
Cost of software
licenses and support
|
0
|
0
|
0
|
0
|
0
|
Cost of cloud and
software
|
–94
|
–95
|
–79
|
19
|
20
|
Cost of
services
|
–61
|
–62
|
–41
|
47
|
49
|
Total cost of
revenue
|
–155
|
–156
|
–120
|
29
|
30
|
Segment gross
profit
|
330
|
329
|
292
|
13
|
13
|
Other segment
expenses
|
–235
|
–238
|
–194
|
21
|
23
|
Segment
profit
|
95
|
92
|
98
|
–3
|
–7
|
Margins
|
|
|
|
|
|
Cloud subscriptions
and support gross margin (in %)
|
77
|
77
|
77
|
–1pp
|
–1pp
|
Gross margin (in
%)
|
68
|
68
|
71
|
–3pp
|
–3pp
|
Segment margin (in
%)
|
20
|
19
|
24
|
–4pp
|
–5pp
|
|
Due to rounding,
numbers may not add up precisely.
|
Applications,
Technology & Services
|
|
€ millions, unless
otherwise stated
|
Q1–Q3 2016
|
Q1–Q3 2015
|
∆ in %
|
∆ in %
|
Actual
Currency
|
Constant
Currency
|
Actual
Currency
|
Actual
Currency
|
Constant
Currency
|
Cloud subscriptions
and support
|
969
|
986
|
660
|
47
|
49
|
Software
licenses
|
2,629
|
2,682
|
2,647
|
–1
|
1
|
Software
support
|
7,738
|
7,839
|
7,416
|
4
|
6
|
Software licenses and
support
|
10,367
|
10,521
|
10,063
|
3
|
5
|
Cloud and
software
|
11,336
|
11,507
|
10,723
|
6
|
7
|
Services
|
2,454
|
2,499
|
2,406
|
2
|
4
|
Total segment
revenue
|
13,789
|
14,006
|
13,130
|
5
|
7
|
Cost of cloud
subscriptions and support
|
–461
|
–466
|
–313
|
47
|
49
|
Cost of software
licenses and support
|
–1,383
|
–1,402
|
–1,400
|
–1
|
0
|
Cost of cloud and
software
|
–1,845
|
–1,869
|
–1,713
|
8
|
9
|
Cost of
services
|
–1,983
|
–2,032
|
–1,880
|
6
|
8
|
Total cost of
revenue
|
–3,828
|
–3,900
|
–3,593
|
7
|
9
|
Segment gross
profit
|
9,961
|
10,106
|
9,537
|
4
|
6
|
Other segment
expenses
|
–4,701
|
–4,794
|
–4,456
|
5
|
8
|
Segment
profit
|
5,261
|
5,311
|
5,081
|
4
|
5
|
Margins
|
|
|
|
|
|
Cloud subscriptions
and support gross margin (in %)
|
52
|
53
|
53
|
–0pp
|
0pp
|
Gross margin (in
%)
|
72
|
72
|
73
|
–0pp
|
–0pp
|
Segment margin (in
%)
|
38
|
38
|
39
|
–1pp
|
–1pp
|
SAP Business
Network
|
|
€ millions, unless
otherwise stated
|
Q1–Q3 2016
|
Q1–Q3 2015
|
∆ in %
|
∆ in %
|
Actual
Currency
|
Constant
Currency
|
Actual
Currency
|
Actual
Currency
|
Constant
Currency
|
Cloud subscriptions
and support
|
1,166
|
1,171
|
981
|
19
|
19
|
Software
licenses
|
0
|
0
|
0
|
0
|
0
|
Software
support
|
20
|
20
|
25
|
–19
|
–20
|
Software licenses and
support
|
20
|
20
|
24
|
–19
|
–19
|
Cloud and
software
|
1,185
|
1,191
|
1,006
|
18
|
18
|
Services
|
218
|
220
|
174
|
25
|
26
|
Total segment
revenue
|
1,404
|
1,411
|
1,180
|
19
|
20
|
Cost of cloud
subscriptions and support
|
–278
|
–281
|
–238
|
17
|
18
|
Cost of software
licenses and support
|
0
|
0
|
–1
|
0
|
–47
|
Cost of cloud and
software
|
–278
|
–281
|
–238
|
17
|
18
|
Cost of
services
|
–177
|
–180
|
–130
|
36
|
39
|
Total cost of
revenue
|
–455
|
–461
|
–368
|
24
|
25
|
Segment gross
profit
|
949
|
950
|
812
|
17
|
17
|
Other segment
expenses
|
–694
|
–704
|
–584
|
19
|
21
|
Segment
profit
|
255
|
245
|
228
|
12
|
8
|
Margins
|
|
|
|
|
|
Cloud subscriptions
and support gross margin (in %)
|
76
|
76
|
76
|
0pp
|
0pp
|
Gross margin (in
%)
|
68
|
67
|
69
|
–1pp
|
–1pp
|
Segment margin (in
%)
|
18
|
17
|
19
|
–1pp
|
–2pp
|
|
Due to rounding,
numbers may not add up precisely.
|
Reconciliation
from Non-IFRS Numbers to IFRS Numbers
|
|
€ millions, unless
otherwise stated
|
Q3 2016
|
Q3 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
|
769
|
0
|
769
|
6
|
775
|
599
|
1
|
600
|
28
|
28
|
29
|
Software
licenses
|
1,034
|
0
|
1,034
|
3
|
1,037
|
1,014
|
1
|
1,015
|
2
|
2
|
2
|
Software
support
|
2,653
|
0
|
2,653
|
13
|
2,666
|
2,509
|
0
|
2,509
|
6
|
6
|
6
|
Software licenses and
support
|
3,686
|
0
|
3,687
|
17
|
3,703
|
3,523
|
1
|
3,524
|
5
|
5
|
5
|
Cloud and
software
|
4,455
|
1
|
4,456
|
23
|
4,479
|
4,122
|
2
|
4,124
|
8
|
8
|
9
|
Services
|
920
|
0
|
920
|
4
|
924
|
863
|
0
|
863
|
7
|
7
|
7
|
Total
revenue
|
5,375
|
1
|
5,375
|
27
|
5,402
|
4,985
|
2
|
4,987
|
8
|
8
|
8
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating Expense
Numbers
|
|
|
|
|
|
|
|
|
|
|
|
Cost of cloud
subscriptions and support
|
–333
|
63
|
–270
|
|
|
–252
|
65
|
–187
|
32
|
44
|
|
Cost of software
licenses and support
|
–537
|
71
|
–465
|
|
|
–528
|
61
|
–468
|
2
|
–1
|
|
Cost of cloud and
software
|
–870
|
135
|
–735
|
|
|
–780
|
126
|
–655
|
11
|
12
|
|
Cost of
services
|
–776
|
45
|
–732
|
|
|
–680
|
19
|
–661
|
14
|
11
|
|
Total cost of
revenue
|
–1,646
|
179
|
–1,466
|
|
|
–1,460
|
144
|
–1,316
|
13
|
11
|
|
Gross
profit
|
3,729
|
180
|
3,909
|
|
|
3,525
|
147
|
3,671
|
6
|
6
|
|
Research and
development
|
–766
|
86
|
–679
|
|
|
–657
|
25
|
–632
|
17
|
8
|
|
Sales and
marketing
|
–1,590
|
214
|
–1,376
|
|
|
–1,269
|
77
|
–1,191
|
25
|
16
|
|
General and
administration
|
–268
|
56
|
–211
|
|
|
–239
|
8
|
–230
|
12
|
–8
|
|
Restructuring
|
1
|
–1
|
0
|
|
|
–145
|
145
|
0
|
<-100
|
NA
|
|
Other operating
income/expense, net
|
–4
|
0
|
–4
|
|
|
–3
|
0
|
–3
|
55
|
55
|
|
Total operating
expenses
|
–4,272
|
534
|
–3,738
|
–39
|
–3,777
|
–3,771
|
400
|
–3,372
|
13
|
11
|
12
|
|
|
|
|
|
|
|
|
|
|
|
|
Profit
Numbers
|
|
|
|
|
|
|
|
|
|
|
|
Operating
profit
|
1,103
|
535
|
1,638
|
–12
|
1,625
|
1,214
|
402
|
1,616
|
–9
|
1
|
1
|
Other
non-operating income/expense, net
|
–43
|
0
|
–43
|
|
|
–26
|
0
|
–26
|
65
|
65
|
|
Finance
income
|
32
|
0
|
32
|
|
|
102
|
0
|
102
|
–69
|
–69
|
|
Finance
costs
|
–78
|
0
|
–78
|
|
|
–60
|
0
|
–60
|
30
|
30
|
|
Financial income,
net
|
–46
|
0
|
–46
|
|
|
42
|
0
|
42
|
<-100
|
<-100
|
|
Profit before
tax
|
1,013
|
535
|
1,548
|
|
|
1,229
|
402
|
1,631
|
–18
|
–5
|
|
Income tax
expense
|
–288
|
–171
|
–459
|
|
|
–333
|
–124
|
–457
|
–14
|
0
|
|
Profit after
tax
|
725
|
364
|
1,089
|
|
|
895
|
278
|
1,173
|
–19
|
–7
|
|
Attributable to owners
of parent
|
730
|
364
|
1,094
|
|
|
898
|
278
|
1,176
|
–19
|
–7
|
|
Attributable to
non-controlling interests
|
–5
|
0
|
–5
|
|
|
–2
|
0
|
–2
|
>100
|
>100
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Key
Ratios
|
|
|
|
|
|
|
|
|
|
|
|
Operating margin
(in %)
|
20.5
|
|
30.5
|
|
30.1
|
24.3
|
|
32.4
|
–3.8pp
|
–1.9pp
|
–2.3pp
|
Effective tax rate
(in %)3)
|
28.4
|
|
29.7
|
|
|
27.1
|
|
28.0
|
1.3pp
|
1.6pp
|
|
Earnings per
share, basic (in €)
|
0.61
|
|
0.91
|
|
|
0.75
|
|
0.98
|
–19
|
–7
|
|
|
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".
|
|
3) The
difference between our IFRS and non-IFRS effective tax rate in Q3
2016 and Q3 2015 mainly results from tax effects of
acquisition-related charges and share-based payment
expenses.
|
|
Due to rounding,
numbers may not add up precisely.
|
€ millions, unless
otherwise stated
|
Q1–Q3 2016
|
Q1–Q3 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
|
2,166
|
2
|
2,168
|
23
|
2,191
|
1,654
|
9
|
1,664
|
31
|
30
|
32
|
Software
licenses
|
2,682
|
2
|
2,685
|
54
|
2,739
|
2,689
|
1
|
2,690
|
0
|
0
|
2
|
Software
support
|
7,815
|
0
|
7,815
|
102
|
7,917
|
7,494
|
0
|
7,494
|
4
|
4
|
6
|
Software licenses and
support
|
10,497
|
3
|
10,500
|
156
|
10,656
|
10,183
|
1
|
10,184
|
3
|
3
|
5
|
Cloud and
software
|
12,663
|
4
|
12,668
|
179
|
12,847
|
11,837
|
11
|
11,848
|
7
|
7
|
8
|
Services
|
2,675
|
0
|
2,675
|
47
|
2,723
|
2,614
|
0
|
2,614
|
2
|
2
|
4
|
Total
revenue
|
15,339
|
4
|
15,343
|
226
|
15,569
|
14,451
|
11
|
14,462
|
6
|
6
|
8
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating Expense
Numbers
|
|
|
|
|
|
|
|
|
|
|
|
Cost of cloud
subscriptions and support
|
–930
|
181
|
–749
|
|
|
–717
|
162
|
–555
|
30
|
35
|
|
Cost of software
licenses and support
|
–1,543
|
170
|
–1,373
|
|
|
–1,631
|
207
|
–1,424
|
–5
|
–4
|
|
Cost of cloud and
software
|
–2,474
|
352
|
–2,122
|
|
|
–2,349
|
369
|
–1,979
|
5
|
7
|
|
Cost of
services
|
–2,282
|
74
|
–2,208
|
|
|
–2,145
|
111
|
–2,034
|
6
|
9
|
|
Total cost of
revenue
|
–4,756
|
426
|
–4,330
|
|
|
–4,494
|
480
|
–4,014
|
6
|
8
|
|
Gross
profit
|
10,583
|
430
|
11,013
|
|
|
9,957
|
491
|
10,448
|
6
|
5
|
|
Research and
development
|
–2,184
|
135
|
–2,049
|
|
|
–2,049
|
133
|
–1,917
|
7
|
7
|
|
Sales and
marketing
|
–4,461
|
405
|
–4,056
|
|
|
–4,027
|
268
|
–3,759
|
11
|
8
|
|
General and
administration
|
–727
|
83
|
–644
|
|
|
–766
|
60
|
–706
|
–5
|
–9
|
|
Restructuring
|
–20
|
20
|
0
|
|
|
–563
|
563
|
0
|
–96
|
NA
|
|
Other operating
income/expense, net
|
–5
|
0
|
–5
|
|
|
0
|
0
|
0
|
<-100
|
<-100
|
|
Total operating
expenses
|
–12,154
|
1,069
|
–11,085
|
–217
|
–11,302
|
–11,899
|
1,504
|
–10,396
|
2
|
7
|
9
|
|
|
|
|
|
|
|
|
|
|
|
|
Profit
Numbers
|
|
|
|
|
|
|
|
|
|
|
|
Operating
profit
|
3,184
|
1,073
|
4,258
|
10
|
4,268
|
2,552
|
1,514
|
4,066
|
25
|
5
|
5
|
Other
non-operating income/expense, net
|
–180
|
0
|
–180
|
|
|
–228
|
0
|
–228
|
–21
|
–21
|
|
Finance
income
|
105
|
0
|
105
|
|
|
189
|
0
|
189
|
–44
|
–44
|
|
Finance
costs
|
–210
|
0
|
–210
|
|
|
–169
|
0
|
–169
|
24
|
24
|
|
Financial income,
net
|
–105
|
0
|
–105
|
|
|
20
|
0
|
20
|
<-100
|
<-100
|
|
Profit before
tax
|
2,900
|
1,073
|
3,973
|
|
|
2,344
|
1,514
|
3,858
|
24
|
3
|
|
Income tax
expense
|
–792
|
–350
|
–1,142
|
|
|
–567
|
–461
|
–1,027
|
40
|
11
|
|
Profit after
tax
|
2,108
|
724
|
2,832
|
|
|
1,778
|
1,053
|
2,831
|
19
|
0
|
|
Attributable to owners
of parent
|
2,118
|
724
|
2,842
|
|
|
1,783
|
1,053
|
2,836
|
19
|
0
|
|
Attributable to
non-controlling interests
|
–10
|
0
|
–10
|
|
|
–5
|
0
|
–5
|
98
|
98
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Key
Ratios
|
|
|
|
|
|
|
|
|
|
|
|
Operating margin
(in %)
|
20.8
|
|
27.8
|
|
27.4
|
17.7
|
|
28.1
|
3.1pp
|
–0.4pp
|
–0.7pp
|
Effective tax rate
(in %)3)
|
27.3
|
|
28.7
|
|
|
24.2
|
|
26.6
|
3.1pp
|
2.1pp
|
|
Earnings per
share, basic (in €)
|
1.77
|
|
2.37
|
|
|
1.49
|
|
2.37
|
19
|
0
|
|
|
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".
|
3) The
difference between our IFRS and non-IFRS effective tax rate in the
first nine months of 2016 mainly results from tax effects of
acquisition-related charges and share-based payment expenses. The
difference between our IFRS and non-IFRS effective tax rate in the
first nine months of 2015 mainly results from tax effects of
acquisition-related charges, restructuring and share-based payment
expenses.
|
|
Due to rounding,
numbers may not add up precisely.
|
Non-IFRS
Adjustments – Actuals and Estimates
|
|
€ millions
|
Estimated Amounts
for Full Year 2016
|
Q3 2016
|
Q1–Q3
2016
|
Q3 2015
|
Q1–Q3
2015
|
Operating profit
(IFRS)
|
|
1,103
|
3,184
|
1,214
|
2,552
|
Revenue
adjustments
|
<20
|
1
|
4
|
2
|
11
|
Adjustment for
acquisition-related charges
|
670 to 720
|
168
|
504
|
183
|
554
|
Adjustment for
share-based payment expenses
|
770 to 840
|
368
|
545
|
72
|
386
|
Adjustment for
restructuring
|
30 to 50
|
–1
|
20
|
145
|
563
|
Operating expense
adjustments
|
|
534
|
1,069
|
400
|
1,504
|
Operating profit
adjustments
|
|
535
|
1,073
|
402
|
1,514
|
Operating profit
(Non-IFRS)
|
|
1,638
|
4,258
|
1,616
|
4,066
|
Non-IFRS
Adjustments by Functional Areas
|
|
€ millions
|
Q3 2016
|
Q3 2015
|
IFRS
|
Acquisition-
related
|
SBP1)
|
Restruc-
turing
|
Non- IFRS
|
IFRS
|
Acquisition-
Related
|
SBP1)
|
Restruc-
turing
|
Non-IFRS
|
Cost of cloud and
software
|
–870
|
98
|
36
|
0
|
–735
|
–780
|
116
|
10
|
0
|
–655
|
Cost of
services
|
–776
|
3
|
42
|
0
|
–732
|
–680
|
6
|
12
|
0
|
–661
|
Research and
development
|
–766
|
3
|
84
|
0
|
–679
|
–657
|
3
|
22
|
0
|
–632
|
Sales and
marketing
|
–1,590
|
67
|
147
|
0
|
–1,376
|
–1,269
|
57
|
21
|
0
|
–1,191
|
General and
administration
|
–268
|
–3
|
59
|
0
|
–211
|
–239
|
1
|
7
|
0
|
–230
|
Restructuring
|
1
|
0
|
0
|
–1
|
0
|
–145
|
0
|
0
|
145
|
0
|
Other operating
income/expense, net
|
–4
|
0
|
0
|
0
|
–4
|
–3
|
0
|
0
|
0
|
–3
|
Total operating
expenses
|
–4,272
|
168
|
368
|
–1
|
–3,738
|
–3,771
|
183
|
72
|
145
|
–3,372
|
1) Share-based Payments
|
|
|
€ millions
|
Q1–Q3 2016
|
Q1–Q3 2015
|
IFRS
|
Acquisition- related
|
SBP1)
|
Restruc-
turing
|
Non-
IFRS
|
IFRS
|
Acquisition-
Related
|
SBP1)
|
Restruc-
turing
|
Non-IFRS
|
Cost of cloud and
software
|
–2,474
|
293
|
58
|
0
|
–2,122
|
–2,349
|
325
|
42
|
0
|
–1,979
|
Cost of
services
|
–2,282
|
9
|
65
|
0
|
–2,208
|
–2,145
|
48
|
63
|
0
|
–2,034
|
Research and
development
|
–2,184
|
7
|
128
|
0
|
–2,049
|
–2,049
|
34
|
102
|
0
|
–1,917
|
Sales and
marketing
|
–4,461
|
190
|
214
|
0
|
–4,056
|
–4,027
|
144
|
122
|
0
|
–3,759
|
General and
administration
|
–727
|
4
|
79
|
0
|
–644
|
–766
|
2
|
58
|
0
|
–706
|
Restructuring
|
–20
|
0
|
0
|
20
|
0
|
–563
|
0
|
0
|
563
|
0
|
Other operating
income/expense, net
|
–5
|
0
|
0
|
0
|
–5
|
0
|
0
|
0
|
0
|
0
|
Total operating
expenses
|
–12,154
|
504
|
545
|
20
|
–11,085
|
–11,899
|
554
|
386
|
563
|
–10,396
|
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
|
Q3 2016
|
Q1–Q3 2016
|
Q3 2015
|
Q1–Q3 2015
|
Cost of cloud and
software
|
0
|
2
|
4
|
64
|
Cost of
services
|
0
|
5
|
35
|
180
|
Research and
development
|
1
|
4
|
69
|
178
|
Sales and
marketing
|
–2
|
8
|
33
|
121
|
General and
administration
|
0
|
1
|
4
|
20
|
Restructuring
expenses
|
–1
|
20
|
145
|
563
|
Revenue by Region
(IFRS and Non-IFRS)
|
|
|
|
|
€ millions
|
Q3 2016
|
Q3 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
|
182
|
0
|
182
|
6
|
188
|
136
|
0
|
136
|
34
|
34
|
38
|
Americas
|
508
|
0
|
508
|
3
|
511
|
411
|
1
|
412
|
24
|
23
|
24
|
APJ
|
78
|
0
|
78
|
–2
|
76
|
52
|
0
|
52
|
50
|
50
|
46
|
Cloud subscriptions
and support revenue
|
769
|
0
|
769
|
6
|
775
|
599
|
1
|
600
|
28
|
28
|
29
|
|
|
|
|
|
|
|
|
|
|
|
|
Cloud and software
revenue by region
|
EMEA
|
1,942
|
0
|
1,942
|
47
|
1,989
|
1,833
|
0
|
1,834
|
6
|
6
|
8
|
Americas
|
1,820
|
1
|
1,821
|
8
|
1,828
|
1,675
|
2
|
1,677
|
9
|
9
|
9
|
APJ
|
693
|
0
|
693
|
–32
|
661
|
614
|
0
|
614
|
13
|
13
|
8
|
Cloud and software
revenue
|
4,455
|
1
|
4,456
|
23
|
4,479
|
4,122
|
2
|
4,124
|
8
|
8
|
9
|
|
|
|
|
|
|
|
|
|
|
|
|
Total revenue by
region
|
Germany
|
749
|
0
|
749
|
0
|
748
|
687
|
0
|
687
|
9
|
9
|
9
|
Rest of
EMEA
|
1,567
|
0
|
1,567
|
54
|
1,620
|
1,518
|
0
|
1,518
|
3
|
3
|
7
|
Total EMEA
|
2,315
|
0
|
2,315
|
53
|
2,369
|
2,205
|
0
|
2,205
|
5
|
5
|
7
|
United
States
|
1,772
|
1
|
1,773
|
4
|
1,777
|
1,662
|
2
|
1,664
|
7
|
7
|
7
|
Rest of
Americas
|
462
|
0
|
462
|
6
|
469
|
374
|
0
|
374
|
24
|
24
|
25
|
Total
Americas
|
2,234
|
1
|
2,235
|
11
|
2,246
|
2,036
|
2
|
2,038
|
10
|
10
|
10
|
Japan
|
214
|
0
|
214
|
–33
|
181
|
171
|
0
|
171
|
25
|
25
|
6
|
Rest of APJ
|
611
|
0
|
611
|
–4
|
607
|
572
|
0
|
572
|
7
|
7
|
6
|
Total APJ
|
825
|
0
|
825
|
–37
|
788
|
744
|
0
|
744
|
11
|
11
|
6
|
Total
revenue
|
5,375
|
1
|
5,375
|
27
|
5,402
|
4,985
|
2
|
4,987
|
8
|
8
|
8
|
|
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–Q3 2016
|
Q1–Q3 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
|
511
|
0
|
512
|
11
|
522
|
365
|
1
|
366
|
40
|
40
|
43
|
Americas
|
1,450
|
1
|
1,451
|
12
|
1,463
|
1,145
|
8
|
1,152
|
27
|
26
|
27
|
APJ
|
205
|
0
|
205
|
1
|
206
|
145
|
0
|
146
|
41
|
41
|
41
|
Cloud subscriptions
and support revenue
|
2,166
|
2
|
2,168
|
23
|
2,191
|
1,654
|
9
|
1,664
|
31
|
30
|
32
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cloud and software
revenue by region
|
EMEA
|
5,499
|
1
|
5,499
|
144
|
5,643
|
5,145
|
1
|
5,146
|
7
|
7
|
10
|
Americas
|
5,213
|
4
|
5,216
|
42
|
5,258
|
4,870
|
9
|
4,879
|
7
|
7
|
8
|
APJ
|
1,952
|
0
|
1,952
|
–6
|
1,946
|
1,823
|
0
|
1,823
|
7
|
7
|
7
|
Cloud and software
revenue
|
12,663
|
4
|
12,668
|
179
|
12,847
|
11,837
|
11
|
11,848
|
7
|
7
|
8
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total revenue by
region
|
|
|
|
|
|
|
|
Germany
|
2,035
|
0
|
2,035
|
–1
|
2,034
|
1,875
|
0
|
1,875
|
9
|
9
|
8
|
Rest of
EMEA
|
4,597
|
1
|
4,597
|
167
|
4,764
|
4,402
|
1
|
4,403
|
4
|
4
|
8
|
Total EMEA
|
6,632
|
1
|
6,632
|
166
|
6,798
|
6,277
|
1
|
6,278
|
6
|
6
|
8
|
United
States
|
5,116
|
4
|
5,120
|
13
|
5,133
|
4,779
|
9
|
4,788
|
7
|
7
|
7
|
Rest of
Americas
|
1,260
|
0
|
1,260
|
51
|
1,310
|
1,184
|
0
|
1,184
|
6
|
6
|
11
|
Total
Americas
|
6,376
|
4
|
6,380
|
64
|
6,444
|
5,962
|
9
|
5,971
|
7
|
7
|
8
|
Japan
|
583
|
0
|
583
|
–62
|
521
|
478
|
0
|
478
|
22
|
22
|
9
|
Rest of APJ
|
1,748
|
0
|
1,748
|
58
|
1,806
|
1,734
|
0
|
1,734
|
1
|
1
|
4
|
Total APJ
|
2,331
|
0
|
2,331
|
–3
|
2,327
|
2,212
|
0
|
2,212
|
5
|
5
|
5
|
Total
revenue
|
15,339
|
4
|
15,343
|
226
|
15,569
|
14,451
|
11
|
14,462
|
6
|
6
|
8
|
|
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
|
|
|
30.9.2016
|
30.9.2015
|
Full-time
equivalents
|
EMEA
|
Americas
|
APJ
|
Total
|
EMEA
|
Americas
|
APJ
|
Total
|
Cloud and
software
|
6,260
|
3,996
|
5,330
|
15,586
|
5,986
|
3,853
|
4,778
|
14,617
|
Services
|
6,423
|
4,044
|
3,921
|
14,388
|
6,558
|
3,769
|
3,567
|
13,895
|
Research and
development
|
10,219
|
4,704
|
7,780
|
22,702
|
9,399
|
4,129
|
6,723
|
20,251
|
Sales and
marketing
|
8,425
|
8,861
|
4,365
|
21,651
|
7,582
|
7,611
|
3,836
|
19,029
|
General and
administration
|
2,578
|
1,723
|
1,012
|
5,314
|
2,494
|
1,665
|
1,019
|
5,177
|
Infrastructure
|
1,552
|
785
|
447
|
2,784
|
1,493
|
789
|
392
|
2,674
|
SAP Group (September
30)
|
35,458
|
24,113
|
22,855
|
82,426
|
33,512
|
21,817
|
20,315
|
75,643
|
Thereof acquisitions
1)
|
37
|
68
|
0
|
105
|
0
|
0
|
0
|
0
|
SAP Group (average
first nine months)
|
34,552
|
23,193
|
21,809
|
79,555
|
33,466
|
21,751
|
19,487
|
74,705
|
1) Acquisitions closed between
January 1 and September 30 of the respective
year.
|
Any statements contained in this document that are not
historical facts are forward-looking statements as defined in the
U.S. Private Securities Litigation Reform Act of 1995. Words such
as "anticipate," "believe," "estimate," "expect," "forecast,"
"intend," "may," "plan," "project," "predict," "should" and "will"
and similar expressions as they relate to SAP are intended to
identify such forward-looking statements. SAP undertakes no
obligation to publicly update or revise any forward-looking
statements. All forward-looking statements are subject to various
risks and uncertainties that could cause actual results to differ
materially from expectations. The factors that could affect SAP's
future financial results are discussed more fully in SAP's filings
with the U.S. Securities and Exchange Commission ("SEC"), including
SAP's most recent Annual Report on Form 20-F filed with the SEC.
Readers are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of their dates.
© 2016 SAP SE. All rights reserved.
No part of this publication may be reproduced or transmitted in
any form or for any purpose without the express permission of SAP
SE. The information contained herein may be changed without prior
notice.
Some software products marketed by SAP SE and its distributors
contain proprietary software components of other software vendors.
National product specifications may vary.
These materials are provided by SAP SE and its affiliated
companies ("SAP Group") for informational purposes only, without
representation or warranty of any kind, and SAP Group shall not be
liable for errors or omissions with respect to the materials. The
only warranties for SAP Group products and services are those that
are set forth in the express warranty statements accompanying such
products and services, if any. Nothing herein should be construed
as constituting an additional warranty.
SAP and other SAP products and services mentioned herein as well
as their respective logos are trademarks or registered trademarks
of SAP SE (or an SAP affiliate company) in Germany and other countries. Please see
http://www.sap.com/corporate-en/legal/copyright/index.epx#trademark
for additional trademark information and notices.
Photo
- http://photos.prnewswire.com/prnh/20161020/431046-INFO
Logo -
http://photos.prnewswire.com/prnh/20110126/AQ34470LOGO
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/sap-raises-outlook-after-strong-third-quarter-300349024.html
SOURCE SAP SE