SAP SE announced its financial results for the fourth quarter and fiscal year ended December 31, 2024.
- SAP meets or exceeds all financial outlook parameters for FY2024
- Current cloud backlog of €18.1 billion, up 32% and up 29% at constant currencies
- Total cloud backlog of €63.3 billion, up 43% and up 40% at constant currencies
- Cloud revenue up 25% and up 26% at constant currencies in FY2024
- Cloud ERP Suite revenue up 33% and up 34% at constant currencies in FY2024
- Total revenue up 10% and up 10% at constant currencies in FY2024
- IFRS operating profit down 20%, non-IFRS operating profit up 25% and up 26% at constant currencies in FY2024
- 2025 outlook anticipates accelerating cloud revenue growth
“Q4 was a strong finish to the year, with half of our cloud order entry including AI. Looking at the full year, we exceeded our cloud goals, accelerating cloud revenue and current cloud backlog growth against a much larger base. Total cloud backlog now stands at €63 billion, up 40%. Revenue growth has returned to double-digits. Looking ahead, our strong position in data and Business AI gives us additional confidence that we will accelerate revenue growth through 2027.”
Christian Klein, CEO
“We are pleased with the strong close to 2024, where we exceeded our cloud and software revenue, non-IFRS operating profit, and free cash flow outlook. With current cloud backlog growth of 29%, we’ve demonstrated the strength of our strategy and our ability to deliver on our commitments. This progress solidly aligns with the Ambition 2025 we set four years ago and positions us well for continued growth this year and beyond.”
Dominik Asam, CFO
