Slide 1: First Quarter 2025 Results
First Quarter 2025 Results Christian Klein, CEO Dominik Asam, CFO April 22, 2025 Public
Slide 2: Safe Harbor Statement
First Quarter 2025 Results Presentation | April 22, 2025 Safe Harbor Statement During this presentation we will make forward-looking statements which are predictions, projections, or other statements about future events. These statements are based on current expectations, forecasts, and assumptions
Slide 3: Christian Klein, CEO
Christian Klein CEO
Slide 4: Q1 was a fast-paced start into the year
Q1 was a fast-paced start into the year Cloud revenue in € millions (yoy @cc) Current cloud Cloud gross profit in € millions (yoy @cc) backlog 4,993 € millions (+26%) 18,202 4,708 (+27%) ▲ +28% (+29% @cc) 4,351 4,153 (+27%) (+25%) Cloud 3,928 (+25%) 3,745 revenue € millions (+30%) 3,458 4,993 3,209
Slide 5: Public
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Slide 6: Product innovation: BDC is the new center of gravity for business data
Product innovation BDC is the new center of gravity for business data SAP Business Data Cloud Finance HR Journal entries Workforce General ledger Compensation Cost object Rating AI/ML ? Cash flow Structured Unstructured Supply Chain Third-party data data Purchase orders Inflation data + Suppliers In
Slide 7: Product innovation: SAP has the ingredients to win in agentic AI
Product innovation SAP has the ingredients in place to win in agentic AI SAP Business AI CX agents Analytics agents Finance agents SAP Joule SAP Foundation Model SAP Knowledge Graph Supply chain agents HR agents Spend agents SAP Knowledge Graph SAP Business Spend Finance Data Cloud One semantical la
Slide 8: Unlocking efficiencies through SAP runs SAP
Simplification Unlocking efficiencies through “SAP runs SAP” Product Go-to-Market Corporate Functions 80% Up to 90 mins/day 90% support self-service rate for time savings per of core financial planning customers via AI-driven issue consultant with processes to run on resolution build on SAP GenAI Hu
Slide 9: Dominik Asam, CFO
Dominik Asam CFO
Slide 10: SAP Q1 2025 Financial Results
First Quarter 2025 Results Presentation | April 22, 2025 SAP Q1 2025 Financial Results Current cloud Total revenue Cloud & Software Cloud revenue Cloud ERP Suite backlog revenue revenue € millions € millions € millions € millions € millions 18,202 9,013 7,938 4,993 4,251 ▲ +28% (+29% @cc) ▲ +12% (+1
Slide 11: Regional revenue performance
First Quarter 2025 Results Presentation | April 22, 2025 Regional revenue performance AMERICAS EMEA APJ Cloud revenue Cloud revenue Cloud revenue ▲ +21% ▲ +30% ▲ +39% (+19% @cc) (+29% @cc) (+39% @cc) Cloud & software Cloud & software Cloud & software revenue revenue revenue ▲ +12% ▲ +14% ▲ +21% (+10
Slide 12: Revenue and gross profit development
First Quarter 2025 Results Presentation | April 22, 2025 Revenue and gross profit development . Revenue Gross profit (Gross margin %) Non-IFRS in € millions, unless otherwise stated Q1 2025 ∆ in % ∆ in % @cc Q1 2025 ∆ in % ∆ in % @cc 3,745 Cloud 4,993 27 26 31 30 (75.0) SaaS/PaaS 4,890 30 28 IaaS 10
Slide 13: Tax rate, Cash flow, and Earnings per share
First Quarter 2025 Results Presentation | April 22, 2025 Tax rate, Cash flow, and Earnings per share Effective tax rate Operating cash flow Free cash flow Earnings per share Q1 | € Q1 | percent Q1 | € billions Q1 | € billions IFRS Non-IFRS Basic Diluted Basic IFRS Non-IFRS 27.2 29.4 3.780 3.583 1.52
Slide 14: 2025 Financial outlook
First Quarter 2025 Results Presentation | April 22, 2025 2025 Financial outlook1 Cloud revenue Cloud & software revenue € billions @cc € billions @cc 21.6 – 21.9 33.1 – 33.6 ▲ +26% – 28% (2024: 17.14) ▲ +11% – 13% (2024: 29.83) Operating profit Free cash flow Effective tax rate € billions @cc € bill
Slide 15: Q&A
First Quarter 2025 Results Presentation | April 22, 2025 Q&A 2025 SAP SE or an SAP affiliate company. All rights reserved. ǀ PUBLIC 15
Slide 16: Appendix
First Quarter 2025 Results Presentation | April 22, 2025 Appendix 2025 SAP SE or an SAP affiliate company. All rights reserved. ǀ PUBLIC 16
Slide 17: Income statement: First quarter 2025
First Quarter 2025 Results Presentation | April 22, 2025 Appendix Income statement: First quarter 2025 IFRS Non-IFRS € millions, unless otherwise stated Q1 25 Q1 24 ∆% Q1 25 Q1 24 ∆% ∆ % @cc Cloud 4,993 3,928 27 4,993 3,928 27 26 Software licenses 183 203 -10 183 203 -10 -10 Software support 2,761 2
Slide 18: Gross margin development
First Quarter 2025 Results Presentation | April 22, 2025 Appendix Gross margin development Non-IFRS, in percent Q1 24 Q2 24 Q3 24 Q4 24 FY 24 Q1 25 Cloud 72.5 73.3 73.7 73.5 73.3 75.0 Software licenses & support 89.2 89.7 90.1 91.0 90.1 90.1 Cloud & software 79.8 80.2 80.5 81.0 80.4 80.6 Services 20
Slide 19: Cost ratios: First quarter 2025
First Quarter 2025 Results Presentation | April 22, 2025 Appendix Cost ratios: First quarter 2025 | Total revenue: €9.0bn Non-IFRS as percent of total revenue Research & Sales & General development marketing administration 18.5% €1.7bn 23.7% €2.1bn 4.0% €0.4bn -2.1pp | -2.0pp @cc -3.8pp | -3.8pp @cc
Slide 20: Balance sheet condensed: March 31, 2025 – IFRS
First Quarter 2025 Results Presentation | April 22, 2025 Appendix Balance sheet condensed: March 31, 2025 – IFRS Due to rounding, numbers may not add up precisely Assets Equity and liabilities € millions 03/31/25 12/31/24 € millions 03/31/25 12/31/24 Cash, cash equivalents and other financial assets
Slide 21: Cash flow development
First Quarter 2025 Results Presentation | April 22, 2025 Appendix Cash flow development Due to rounding, numbers may not add up precisely € millions, unless otherwise stated Q1 2025 Q1 2024 ∆ in % Operating cash flow 3,780 2,878 31 – Capital expenditure -168 -187 -10 – Proceeds from sales of PPE & i
Slide 22: Net debt
First Quarter 2025 Results Presentation | April 22, 2025 Appendix Net debt Due to rounding, numbers may not add up precisely € millions, unless otherwise stated 2025 2024 Net liquidity (+)/Net Debt (-) | 12/31/2024 | PY: 12/31/2023 1,695 3,521 Operating cash flow 3,780 2,878 Capital expenditure -168
Slide 23: Additional outlook information and Non-IFRS adjustments
First Quarter 2025 Results Presentation | April 22, 2025 Appendix Additional outlook information and Non-IFRS adjustments Due to rounding, numbers may not add up precisely The Company expects a full-year 2025 effective tax rate (Non-IFRS) of around 32% (2024: 32.2%). Actual Amounts Actual Amounts Es
Slide 24: Expected currency impact
First Quarter 2025 Results Presentation | April 22, 2025 Appendix Expected currency impact Expected currency impact based on March 31, 2025 Level applied for 2025 While SAP’s 2025 financial outlook for the income statement parameters is at constant currencies (including an average exchange rate of 1