Slide 1: Second Quarter 2025 Results
Second Quarter 2025 Results Christian Klein, CEO Dominik Asam, CFO July 22, 2025 Public
Slide 2: Safe Harbor Statement
Second Quarter 2025 Results Presentation | July 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: Another quarter of outstanding results
Another quarter of outstanding results Cloud revenue in € millions (yoy @cc) Current cloud Cloud gross profit in € millions (yoy @cc) backlog 5,130 € millions 4,993 (+28%) (+26%) 18,052 4,708 (+27%) ▲ +22% (+28% @cc) 4,351 4,153 (+27%) Cloud (+25%) 3,856 revenue 3,745 (+31%) € millions (+30%) 3,458
Slide 5: Public
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Slide 6: Product innovation
Product innovation SAP’s AI and data innovations are arriving in the market and changing the way businesses run Unrivaled AI , including Joule Everything | Everywhere CFO CPO COO CHRO CRO CIO Shop Floor Performance & Goals Joule Accruals Agent Sourcing Agent Quote Creation Agent Supervisor Agent Ass
Slide 7: Simplification
Simplification Business AI reshapes jobs and processes across SAP, with triple-digit million value of AI-enabled efficiencies Unrivaled AI, including Joule Everything | Everywhere Engineering Sales & Marketing Services Finance Human Resources Digital Sales Joule for Joule for Developers Joule for Co
Slide 8: Our growth formula
Our growth formula Bringing together the best of SAP to diligently continue our transformation in H2 2025 and beyond Product innovation x Go-to-market x Simplification x People transformation = Reinventing how Accelerating our Setting SAP up for Hiring and upskilling Accelerating businesses run with
Slide 9: Dominik Asam, CFO
Dominik Asam CFO
Slide 10: SAP Q2 2025 Financial Results
Second Quarter 2025 Results Presentation | July 22, 2025 SAP Q2 2025 Financial Results Current cloud Total revenue Cloud & software Cloud revenue Cloud ERP Suite backlog revenue revenue € millions € millions € millions € millions € millions 18,052 9,027 7,966 5,130 4,422 ▲ +22% (+28% @cc) ▲ +9% (+12
Slide 11: Regional revenue performance
Second Quarter 2025 Results Presentation | July 22, 2025 Regional revenue performance AMERICAS EMEA APJ Cloud revenue Cloud revenue Cloud revenue ▲ +16% ▲ +29% ▲ +33% (+22% @cc) (+30% @cc) (+37% @cc) Cloud & Software Cloud & Software Cloud & Software revenue revenue revenue ▲ +7% ▲ +14% ▲ +14% (+13%
Slide 12: Revenue and gross profit development
Second Quarter 2025 Results Presentation | July 22, 2025 Revenue and gross profit development . Revenue Gross profit (Gross margin %) Non-IFRS in € millions, unless otherwise stated Q2 2025 ∆ in % ∆ in % @cc Q2 2025 ∆ in % ∆ in % @cc 3,856 Cloud 5,130 24 28 27 31 (75.2) SaaS/PaaS 5,045 26 30 IaaS 85
Slide 13: Tax rate, Cash flow, and Earnings per share
Second Quarter 2025 Results Presentation | July 22, 2025 Tax rate, Cash flow, and Earnings per share Effective tax rate Operating cash flow Free cash flow Earnings per share Q2 | € Q2 | percent Q2 | € millions Q2 | € millions IFRS Non-IFRS Basic Diluted Basic IFRS Non-IFRS 30.1 30.8 2,577 2,357 1.45
Slide 14: 2025 Financial outlook and Non-financial outlook
Second Quarter 2025 Results Presentation | July 22, 2025 2025 Financial outlook1 2025 Non-financial outlook Cloud revenue Cloud & Software Employee Customer Net revenue engagement index Promoter Score € billions @cc € billions @cc percent points 21.6 – 21.9 33.1 – 33.6 74 – 78 12 – 16 ▲ +26% – 28% (
Slide 15: Q&A
Second Quarter 2025 Results Presentation | July 22, 2025 Q&A 2025 SAP SE or an SAP affiliate company. All rights reserved. ǀ PUBLIC 15
Slide 16: Appendix
Second Quarter 2025 Results Presentation | July 22, 2025 Appendix 2025 SAP SE or an SAP affiliate company. All rights reserved. ǀ PUBLIC 16
Slide 17: Income statement: Second quarter 2025
Second Quarter 2025 Results Presentation | July 22, 2025 Appendix Income statement: Second quarter 2025 IFRS Non-IFRS € millions, unless otherwise stated Q2 25 Q2 24 ∆% Q2 25 Q2 24 ∆% ∆ % @cc Cloud 5,130 4,153 24 5,130 4,153 24 28 Software licenses 194 229 -15 194 229 -15 -13 Software support 2,642
Slide 18: Income statement: First six months 2025
Second Quarter 2025 Results Presentation | July 22, 2025 Appendix Income statement: First six months 2025 IFRS Non-IFRS € millions, unless otherwise stated Q1-Q2 25 Q1-Q2 24 ∆% Q1-Q2 25 Q1-Q2 24 ∆% ∆ % @cc Cloud 10,124 8,082 25 10,124 8,082 25 27 Software licenses 377 432 -13 377 432 -13 -12 Softwar
Slide 19: Gross margin development
Second Quarter 2025 Results Presentation | July 22, 2025 Appendix Gross margin development Non-IFRS, in percent Q1 24 Q2 24 Q3 24 Q4 24 FY 24 Q1 25 Q2 25 Cloud 72.5 73.3 73.7 73.5 73.3 75.0 75.2 Software licenses & support 89.2 89.7 90.1 91.0 90.1 90.1 89.0 Cloud & software 79.8 80.2 80.5 81.0 80.4
Slide 20: Cost ratios: Second quarter 2025
Second Quarter 2025 Results Presentation | July 22, 2025 Appendix Cost ratios: Second quarter 2025 | Total revenue: €9.0bn Non-IFRS as percent of total revenue Research & Sales & General development marketing administration 17.9% €1.6bn 23.1% €2.1bn 4.0% €0.4bn -1.4pp | -1.4pp @cc -2.8pp | -2.7pp @c
Slide 21: Cost ratios: First six months 2025
Second Quarter 2025 Results Presentation | July 22, 2025 Appendix Cost ratios: First six months 2025 | Total revenue: €18.0bn Non-IFRS as percent of total revenue Research & Sales & General development marketing administration 18.2% €3.3bn 23.4% €4.2bn 4.0% €0.7bn -1.8pp | -1.7pp @cc -3.3pp | -3.2pp
Slide 22: Balance sheet condensed: June 30, 2025 – IFRS
Second Quarter 2025 Results Presentation | July 22, 2025 Appendix Balance sheet condensed: June 30, 2025 – IFRS Due to rounding, numbers may not add up precisely Assets Equity and liabilities € millions 6/30/25 12/31/24 € millions 6/30/25 12/31/24 Cash, cash equivalents and other financial assets 10
Slide 23: Cash flow development
Second Quarter 2025 Results Presentation | July 22, 2025 Appendix Cash flow development Due to rounding, numbers may not add up precisely € millions, unless otherwise stated Q1-Q2 2025 Q1-Q2 2024 ∆ in % Operating cash flow 6,357 4,388 45 – Purchase of PPE & intangibles -358 -365 -2 – Proceeds from s
Slide 24: Net debt
Second Quarter 2025 Results Presentation | July 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 Net cash flows from operating activities 6,357 4,388 Cap
Slide 25: Additional outlook information and Non-IFRS adjustments
Second Quarter 2025 Results Presentation | July 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 approximately 32% (2024: 32.2%). Actual Amounts Actual Amo
Slide 26: Expected currency impact
Second Quarter 2025 Results Presentation | July 22, 2025 Appendix Expected currency impact Expected currency impact based on June 30, 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.