SAP SE / Key word(s): Quarter Results/Preliminary Results
13.10.2015 02:38
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
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SAP Announces Preliminary Third Quarter and Nine Months 2015 Results
- Strong Growth in New Cloud Bookings: Up 102%
- Non-IFRS Cloud and Software Revenue Up 19% to EUR4.12 Billion
- Non-IFRS Operating Profit Increased 19% to EUR1.62 Billion
- Reiterates Full Year 2015 Outlook
WALLDORF, Germany - October 13, 2015 - After an initial review of its third
quarter 2015 performance, SAP SE (NYSE: SAP) today announced its
preliminary financial results for the third quarter and nine months ended
September 30, 2015.
SAP again delivered strong growth in the cloud, outpacing most pure cloud
competitors even without the contribution from the Concur acquisition.
Third quarter non-IFRS cloud subscriptions and support revenue grew 116%
year-over-year (90% at constant currencies) to EUR600 million. New cloud
bookings, the key measure for SAP's sales success in the cloud, increased
102% in the third quarter to EUR216 million.
The Company had very strong top and bottom line growth. Non-IFRS cloud and
software revenue increased 19% (12% at constant currencies) to EUR4.12
billion. Non-IFRS operating profit increased 19% (15% at constant
currencies) to EUR1.62 billion. Non-IFRS basic earnings per share was
EUR0.98 (2014: EUR0.84), an increase of 16%.
FINANCIAL RESULTS IN THE THIRD QUARTER 2015 (1)
All 2015 figures in this release are approximate due to the preliminary
nature of the announcement.
<pre>
IFRS Non-
IFRS (2)
EUR billion, unless Q3 Q3 % Q3 Q3 % % change
otherwise stated 2015 2014 chan 2015 2014 chan const. curr.
ge ge
Cloud subscriptions and
support 0.60 0.28 116% 0.60 0.28 116% 90%
Software licenses 1.01 0.95 7% 1.02 0.95 7% 4%
Software support 2.51 2.23 12% 2.51 2.23 12% 6%
Software licenses and
support 3.52 3.18 11% 3.52 3.18 11% 6%
Cloud and software 4.12 3.46 19% 4.12 3.46 19% 12%
Total revenue 4.98 4.25 17% 4.99 4.26 17% 10%
Operating profit 1.21 1.16 5% 1.62 1.36 19% 15%
-
Operating margin (in %) 24.3 27.2 2.9pp 32.4 31.8 0.6pp 1.3pp
Basic earnings per share
(EUR) 0.75 0.74 2% 0.98 0.84 16%
</pre>
(1) All figures are preliminary and unaudited.
(2) For a detailed description of SAP's non-IFRS measures see Explanation
of Non-IFRS Measures online
FINANCIAL RESULTS IN THE FIRST NINE MONTHS 2015 (1)
<pre>
IFRS Non-
IFRS (2)
EUR billion, unless 9M 9M % 9M 9M % % change
otherwise stated 2015 2014 chan 2015 2014 chan const. curr.
ge ge
Cloud subscriptions and
support 1.65 0.74 124% 1.66 0.74 124% 92%
Software licenses 2.69 2.53 6% 2.69 2.53 6% -1%
Software support 7.49 6.49 16% 7.49 6.49 15% 7%
Software licenses and
support 10.18 9.02 13% 10.18 9.02 13% 4%
Cloud and software 11.84 9.76 21% 11.85 9.76 21% 11%
Total revenue 14.45 12.10 19% 14.46 12.11 19% 9%
Operating profit 2.55 2.58 -1% 4.07 3.51 16% 5%
- -
Operating margin (in %) 17.7 21.3 3.6pp 28.1 29.0 0.9pp -1.0pp
Basic earnings per share
(EUR) 1.49 1.65 -10% 2.37 2.19 8%
</pre>
(1) All figures are preliminary and unaudited.
(2) For a detailed description of SAP's non-IFRS measures see Explanation
of Non-IFRS Measures online.
BUSINESS OUTLOOK 2015
The Company reiterates the following 2015 outlook:
- Based on the strong momentum in SAP's cloud business the Company
expects full-year 2015 non-IFRS cloud subscriptions and support revenue
to be in a range of EUR1.95 - EUR2.05 billion at constant currencies
(2014: EUR1.10 billion). The upper end of this range represents a
growth rate of 86% at constant currencies. Concur and Fieldglass are
expected to contribute approximately 50 percentage points to this
growth.
- The Company expects full year 2015 non-IFRS cloud and software revenue
to increase by 8% - 10% at constant currencies (2014: EUR14.33
billion).
- The Company expects full-year 2015 non-IFRS operating profit to be in a
range of EUR5.6 billion - EUR5.9 billion at constant currencies (2014:
EUR5.64 billion).
The company will report its complete third quarter and nine months 2015
results
on October 20th.
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Information and Explaination of the Issuer to this News:
'SAP is uniquely positioned to help our customers become digital
businesses. Our flagship S/4HANA is rapidly gaining market share. HANA is
redefining the database industry as the standard real-time platform. Our
cloud solutions for workforce engagement are best in class and our
omni-channel customer experience solutions are growing faster than best of
breed competitors. Our HANA Cloud Platform for the Internet of Things and
Business Networks for inter-enterprise collaboration are redefining the
business software industry. We are firmly reiterating our full year
guidance', said SAP CEO Bill McDermott.
SAP CFO Luka Mucic said: 'Our strong double-digit growth in cloud and
software revenue was mainly driven by excellent results in mature markets.
SAP's global resilience helped us also sail through stormy waters in
emerging markets where we expect to continue to see volatility and economic
challenges. Our surge in operating profit reflects our business
transformation's continued success and the improving profitability of our
cloud offerings.'
Additional Information
2015 revenue and profit figures include the full revenue and profit from
Concur and Fieldglass. The comparative numbers for 2014 include Concur
starting December 4 and May 2.
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.
Third Quarter 2015 Interim Report
SAP's third quarter 2015 Interim Report will be published on October 20,
2015 and will be available for download at www.sap.com/investor.
Webcast
SAP earnings conference call for financial analysts will take place on
Tuesday, October 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 293,500 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
Andy Kendzie +1 (202) 312-3919 andy.kendzie@sap.com, ET
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)
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# # #
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Language: English
Company: SAP SE
Dietmar-Hopp-Allee 16
69190 Walldorf
Germany
Phone: +49 (0)6227 - 74 74 74
Fax: +49 (0)6227 - 75 75 75
E-mail: investor@sap.com
Internet: www.sap.com
ISIN: DE0007164600
WKN: 716460
Indices: DAX
Listed: Regulated Market in Berlin, Frankfurt (Prime Standard),
Stuttgart; Regulated Unofficial Market in Dusseldorf,
Hamburg, Hanover, Munich; Terminbörse EUREX; NYSE
End of Announcement DGAP News-Service
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DGAP-Adhoc: SAP SE: Cloud Business Surges, Up 116% - Record Third Quarter Non-IFRS Cloud and Software Revenue - Non-IFRS Operating Profit Up 19%
| Source: EQS Group AG