SAP Announces Q4 And FY 2023 Results
SAP News, Tuesday, January 23rd, 2024
WALLDORF - SAP SE announced its financial results for the fourth quarter and fiscal year ended December 31, 2023.
SAP exceeds non-IFRS operating profit and cash flow outlook for FY 2023
Cloud revenue up 20% and up 23% at constant currencies for FY 2023, underpinned by 25% cloud revenue growth at constant currencies in the fourth quarter
Current cloud backlog of 13.7 billion Euros, up 25% and up 27% at constant currencies
IFRS cloud gross profit up 23%, non-IFRS cloud gross profit up 23% and up 27% at constant currencies in FY 2023
IFRS operating profit down 5%, non-IFRS operating profit up 9% and up 13% at constant currencies in FY 2023
2024 outlook anticipates accelerating cloud revenue growth
Planned transformation program including restructuring in 2024 reflects focus on scalability of operations and Business AI
2025 non-IFRS operating profit and free cash flow ambition updated to reflect updated non-IFRS definition as well as approximately half a billion Euro of incremental efficiency gains from the program