Raises Full Year Outlook
- Current Cloud Backlog Up 24% (Up 22% At Constant Currencies)
- S/4HANA Current Cloud Backlog Up 60% (Up 58% At Constant Currencies)
- Cloud Revenue Up 20%
- Non-IFRS Operating Profit Up 2% (Up 2% At Constant Currencies)
- Raises Full Year Revenue and Profit Outlook On the Back of Strong Third Quarter
Our strategy is clearly working. Customers are choosing SAP for their business transformation in the cloud. We see record adoption of our applications and our platform. This has resulted in strong acceleration of our cloud growth.”
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Christian Klein, CEO
This has been an excellent quarter across all key financial metrics. We are seeing sustained, strong progress in SAP’s transformation. Our cloud business is growing at an accelerating pace and has led to our improved full year outlook.”
Luka Mucic, CFO
Business Update Third Quarter 2021
After an initial review of its third quarter 2021 performance, SAP SE (NYSE: SAP) today announced its preliminary financial results for the third quarter ended September 30th, 2021. All 2021 figures in this release are approximate due to the preliminary nature of the announcement.
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Businesses around the world are reevaluating their business models with increased urgency given the dramatic changes due to the pandemic and their ongoing focus on digital transformation. Customers are choosing SAP for its clearly differentiated capabilities. In addition to helping customers manage their technical migrations, SAP is helping customers redefine and optimize their core end-to-end business processes. This expertise is based on SAP’s unmatched knowledge of industry best practices from working with customers of all sizes across industries and geographies. This is reflected in SAP’s strong third quarter results which were above market expectations.
SAP is seeing continued strong demand and adoption of its ‘RISE with SAP’ offering, which customers of all sizes, including an increasing number of large clients, are selecting to manage their business transformation. As more customers adopt this holistic subscription offering, software licenses revenue decreased as anticipated.
SAP is seeing strong growth in current cloud backlog across its cloud portfolio, in particular with S/4HANA Cloud. Cloud revenue growth also accelerated sequentially.
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