WALLDORF, Germany — SAP SE (NYSE: SAP) today announced its financial results for the fourth quarter ended December 31, 2020.
Topline Exceeds Full Year Outlook
Operating Profit and Free Cash Flow Up Strongly
“RISE with SAP” To Drive Customers’ Business Transformation in the Cloud
- IFRS Cloud Revenue Up 17%, Non-IFRS Cloud Revenue Up 18% At Constant Currencies in FY 2020
- Current Cloud Backlog of €7.2 Billion, Up 14% At Constant Currencies
- IFRS Cloud Gross Margin 66.5%, Up 3.1pp; Non-IFRS Cloud Gross Margin Reaches 69.6%, Up 1.3pp At Constant Currencies in FY2020
- IFRS Operating Profit Up 48%; Non-IFRS Operating Profit Up 4% At Constant Currencies in FY 2020
- IFRS EPS Up 56%; Non-IFRS EPS Up 6% in FY 2020
- Operating Cash Flow At €7.2 Billion, Approximately Doubling Year over Year; Free Cash Flow at €6.0 Billion in FY 2020,
Significantly Exceeding Raised Outlook
- Customer Net Promoter Score Up Sharply; Employee Engagement Index at Record High
- 2021 Outlook Reflects Expedited Move to Cloud
- Successful IPO of Qualtrics
The world’s leading companies are turning to SAP to become intelligent enterprises. We are reinventing how businesses run by accelerating our customers’ transformation in the cloud. Our strong finish to the year and the launch of RISE with SAP, our new holistic business transformation offering, position us well to meet our new outlook targets.
Christian Klein, CEO
In a uniquely challenging environment, 2020 was a record year for cash flow in every single quarter and the full year. Our better-than-anticipated top line performance combined with our quick response on the cost side drove strong operating profit. SAP’s expedited shift to the cloud will drive long-term, sustainable growth while significantly increasing the resiliency and predictability of our business.
Luka Mucic, CFO