DGAP-Adhoc

SAP SE: SAP Announces Preliminary Results for Q3 2021 - Seite 2

The share of more predictable revenue grew by 3 percentage points year over year to 77% in the third quarter.

IFRS operating profit decreased 15% to €1.25 billion and IFRS operating margin decreased by 4.3 percentage points to 18.2% due to higher share-based compensation expenses (primarily related to Qualtrics). Non-IFRS operating profit increased 2% to €2.10 billion (up 2% at constant currencies) and non-IFRS operating margin decreased by 0.9 percentage points to 30.7% (down 0.7 percentage points at constant currencies). Operating profit includes a disposal gain of €77 million related to the launch of SAP Fioneer, a dedicated Financial Services Industry unit jointly owned by SAP and Dediq.

Earnings per share decreased 10% to €1.19 (IFRS) and increased 2% to €1.74 (non-IFRS), including another strong contribution from Sapphire Ventures.
 

Business Outlook 2021

SAP is raising its full-year 2021 outlook, reflecting the strong business performance which is expected to continue to accelerate cloud revenue growth. The Company continues to expect a software licenses revenue decline for the full year as more customers turn to the 'RISE with SAP' subscription offering for their mission-critical core processes. This outlook also continues to assume the COVID-19 crisis will continue to recede as vaccine programs roll out globally.

SAP now expects:

• €9.4 - 9.6 billion cloud revenue at constant currencies (2020: €8.09 billion), up 16% to 19% at constant currencies. The previous range was €9.3 - 9.5 billion at constant currencies.
• €23.8 - 24.2 billion cloud and software revenue at constant currencies (2020: €23.23 billion), up 2% to 4% at constant currencies. The previous range was €23.6 - 24.0 billion at constant currencies.
• €8.1 - 8.3 billion operating profit at constant currencies (2020: €8.29 billion), flat to down 2% at constant currencies. The previous range was €7.95 - 8.25 billion at constant currencies.

SAP continues to expect the share of more predictable revenue to reach approximately 75% (2020: 72%).