WALLDORF — The SAP SE today reported fourth quarter and fiscal year 2024 (January 1 – December 31) results.
- SAP meets or exceeds all metrics in its full-year 2024 financial outlook.
- Current Cloud Backlog increases by 32% to €18.1 billion or by 29% in constant currency.
- Total cloud backlog increases by 43% to €63.3 billion or by 40% in constant currency.
- Cloud revenue increases 25% for the full year 2024 or 26% at constant currencies.
- Cloud ERP Suite revenue increases 33% for full-year 2024 or 34% on a constant currency basis.
- Sales revenue will increase by 10% for the full year 2024 or by 10% after adjusting for currency effects.
- Operating profit (IFRS) falls by 20% for the full year 2024, operating profit (non-IFRS) increases by 25% or by 26% after adjusting for currency effects.
- According to the outlook for 2025, cloud revenue growth is expected to accelerate.
“We ended 2024 with a strong fourth quarter and already half of our cloud contract wins included AI application scenarios. We exceeded our cloud targets for the full year and achieved accelerated growth in cloud revenue and current cloud backlog despite the strong prior year. The total cloud backlog grew by 40% and is now €63 billion. In addition, we returned to double-digit revenue growth. Due to our strong position in data and enterprise AI, we are confident that we will accelerate our revenue growth through 2027.”
Christian Klein, CEO
“We are pleased with the strong finish to 2024, exceeding our outlook for cloud and software revenue, operating profit (non-IFRS) and free cash flow. With Current Cloud Backlog growth of 29%, we demonstrated the strength of our strategy and demonstrated our ability to deliver on our commitments. This progress is in line with our 2025 target that we set four years ago. This sets us up for continued growth this year and beyond set up.”
Dominik Asam, CFO
