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DGAP-Adhoc: SAP SE: SAP Pre-Announces Outstanding -2-

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DJ DGAP-Adhoc: SAP SE: SAP Pre-Announces Outstanding Third Quarter Results



DGAP-Ad-hoc: SAP SE / Key word(s): Quarter Results/Preliminary Results
SAP SE: SAP Pre-Announces Outstanding Third Quarter Results

11-Oct-2019 / 00:05 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation
(EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

*SAP Pre-Announces Outstanding Third Quarter Results*

? New Cloud Bookings Up 38%, Software License Revenue Down 1%

? Cloud Revenue Up 37%

? Total Revenue Up 13%

? IFRS Operating Profit Up 36%; Non-IFRS Operating Profit Up 20%

? IFRS Operating Margin Up 4.2pp; Non-IFRS Operating Margin Up 1.7pp

? EPS Up 28% (IFRS) and Up 14% (Non-IFRS)

? Rapid Cloud Gross Margin Expansion Continues

After an initial review of its third quarter 2019 performance, SAP SE (NYSE:
SAP) today announced its preliminary financial results for the third quarter
ended September 30, 2019. All 2019 figures in this release are approximate
due to the preliminary nature of the announcement.

*Financial Highlights*

In the third quarter, new cloud bookings were up 38% (33% at constant
currencies) and up 50% excluding Infrastructure-as-a-Service (IaaS). A cloud
deal with a major partner contributed 17 percentage points to Q3 new cloud
bookings growth. The deal has a term of 3 years, with revenue recognition
starting in the fourth quarter 2019.
Cloud revenue grew 37% year over year to EUR1.79 billion (IFRS), up 37%
(non-IFRS) and 33% (non-IFRS at constant currencies). Software licenses
revenue was down 1% year over year to EUR0.93 billion (IFRS), down 1%
(non-IFRS) and down 4% (non-IFRS at constant currencies). Cloud and software
revenue grew 12% year over year to EUR5.63 billion (IFRS), up 13% (non-IFRS)
and 10% (non-IFRS at constant currencies). Total revenue grew 13% year over
year to EUR6.79 billion (IFRS), up 13% (non-IFRS) and 10% (non-IFRS at
constant currencies).

Cloud gross margin increased 5.9 percentage points year over year to 64.5%
(IFRS) and increased by 5.4 percentage points year over year to 69.0%
(non-IFRS) and 5.5 percentage points to 69.0% (non-IFRS at constant
currencies).

Operating profit increased 36% year over year to EUR1.68 billion (IFRS), up
20% (non-IFRS) and up 15% (non-IFRS at constant currencies). Operating
margin increased 4.2 percentage points year over year to 24.7% (IFRS) and
expanded by 1.7 percentage points year over year to 30.6% (non-IFRS) and 1.5
percentage points to 30.4% (non-IFRS at constant currencies).

Earnings per share was up 28% to EUR1.04 (IFRS) and up 14% to EUR1.30
(non-IFRS).

The Company will report its complete third quarter 2019 results on October
21st.

Contact:
Stefan Gruber
Investor Relations
Phone: +49 6227 744872
Email: investor@sap.com

Information and Explanation of the Issuer to this News:

_'The growth story at SAP continues with maximum strength. I couldn't be
prouder of this very significant top line and bottom line expansion,' said
Bill McDermott, SAP. 'The future is bright!'_

_'We have delivered a very strong result on the bottom line based on further
acceleration of our operational excellence initiative and restructuring
benefits in the third quarter. In parallel we have continued to execute
extremely well on our cloud transition in the first nine months - a dynamic
cloud business growing at 41% combined with a stable core, leading to double
digit topline growth' said Luka Mucic, SAP. 'It is with great confidence
that we reiterate our 2019 outlook.'_

*Business Outlook 2019*

The company reiterates its outlook for the full year 2019.

SAP continues to expect:

? Non-IFRS cloud revenue to be in a range of EUR6.7 - EUR7.0 billion at
constant currencies (2018: EUR5.03 billion), up 33% - 39% at constant
currencies.

? Non-IFRS cloud and software revenue to be in a range of EUR22.4 -
EUR22.7 billion at constant currencies (2018: EUR20.66 billion), up 8.5% -
10% at constant currencies.

? Non-IFRS operating profit to be in a range of EUR7.85 - EUR8.05 billion
at constant currencies (2018: EUR7.16 billion), up 9.5% - 12.5% at
constant currencies.

In addition, SAP expects total revenues to increase strongly, at a rate
lower than operating profit.

*Ambition 2020 and 2023*

*Ambition 2020*

SAP continues to expect:

? EUR8.6 - EUR9.1 billion non-IFRS cloud revenue

? EUR28.6 - EUR29.2 billion non-IFRS total revenue

? The share of more predictable revenue (defined as the total of cloud
revenue and software support revenue) in a range of 70% - 75%

? EUR8.8 - EUR9.1 billion non-IFRS operating profit

_Ambition 2023_

Over the period from 2018 through 2023, SAP continues to expect to:

? More than triple non-IFRS cloud revenue (2018: EUR5.03 billion)

? Grow to more than EUR35 billion in non-IFRS total revenue (2018:
EUR24.74 billion)

? Approach a share of more predictable revenue of 80%

? Reach a Non-IFRS cloud gross margin of 75%

? Increase the non-IFRS operating margin by one percentage point per year
on average, representing a total expansion of approximately 500 basis
points.

*Additional Information*

This press release and all information therein is unaudited.

The 2019 numbers include Qualtrics' revenues and profits only from the
acquisition date of January 23rd. The comparative numbers for full year 2018
do not include Qualtrics revenues and profits and include Callidus revenue
and profits only from the April 5th, 2018 acquisition date.

_Definition of key growth metrics_

New cloud bookings are the total of all orders received in a given period
the revenue from which is expected to be classified as cloud revenue and
that result from purchases by new customers and from incremental purchases
by existing customers. Consequently, orders to renew existing contracts are
not included in this metric. 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 (annualized
contract value ACV).

Share of more predictable revenue is the total of non-IFRS cloud revenue and
non-IFRS software support revenue as a percentage of total revenue.

_Third Quarter 2019 Quarterly Statement_

SAP's third quarter 2019 quarterly statement will be published on October
21, 2019 and will be available for download at www.sap.com/investor.

_Webcast_

SAP senior management will host a financial analyst conference call on
Monday, October 21st at 2:00 PM (CET) / 1:00 PM (GMT) / 8:00 AM (Eastern) /
5:00 AM (Pacific). The call will be webcast live on the Company's website at
www.sap.com/investor [1] and will be available for replay. Supplementary
financial information pertaining to the third quarter results can be found
at www.sap.com/investor [1].

_Special Capital Markets Day_

SAP will host a Special Capital Markets Day on November 12, 2019 in New York
City.

_About SAP_

As the Experience Company powered by the Intelligent Enterprise, SAP is the
market leader in enterprise application software, helping companies of all
sizes and in all industries run at their best: 77% of the world's
transaction revenue touches an SAP(R) system. Our machine learning, Internet
of Things (IoT), and advanced analytics technologies help turn customers'
businesses into intelligent enterprises. SAP helps give people and
organizations deep business insight and fosters collaboration that helps
them stay ahead of their competition. We simplify technology for companies
so they can consume our software the way they want - without disruption. Our
end-to-end suite of applications and services enables more than 437,000
business and public customers to operate profitably, adapt continuously, and
make a difference. With a global network of customers, partners, employees,
and thought leaders, SAP helps the world run better and improve people's
lives. For more information, visit http://www.sap.com [2].

*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:*

Rajiv Sekhri +49 (6227) 7-74871 rajiv.sekhri@sap.com, CET
Marcus Winkler +49 (6227) 7-67497 marcus.winkler@sap.com, CET

Note to editors:

To preview and download broadcast-standard stock footage and press photos
digitally, please visit www.sap.com/photos [3]. On this platform, you can
find high resolution material for your media channels. To view video stories
on diverse topics, visit www.sap-tv.com [4]. From this site, you can embed
videos into your own Web pages, share video via e-mail links and subscribe
to RSS feeds from SAP TV.

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.
(c) 2019 SAP SE. All rights reserved.

No part of this publication may be reproduced or transmitted in any form or

(MORE TO FOLLOW) Dow Jones Newswires

October 10, 2019 18:05 ET ( 22:05 GMT)


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. All other product and
service names mentioned are the trademarks of their respective companies.
Please see www.sap.com/about/legal/copyright.html [5] for additional
trademark information and notice.

11-Oct-2019 CET/CEST The DGAP Distribution Services include Regulatory
Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de
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, TecDAX
Listed: Regulated Market in Berlin, Frankfurt (Prime Standard),
Stuttgart; Regulated Unofficial Market in Dusseldorf, Hamburg,
Hanover, Munich, Tradegate Exchange; NYSE
EQS News ID: 888605

End of Announcement DGAP News Service

888605 11-Oct-2019 CET/CEST


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(END) Dow Jones Newswires

October 10, 2019 18:05 ET ( 22:05 GMT)
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