SAP SE ADS (SAP) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning and thank you very much for joining us today for our Q4 and full year results press conference. A warm welcome to everyone here in the room and, of course, a warm welcome to everyone joining us virtually. As always, Christian, our CEO, and Dominic, our CFO, will share some brief remarks and we will then move into the Q&A session. Everyone joining online, please feel free to submit questions at any time. Maybe one disclaimer as always, unless stated otherwise, all numbers on these calls are non-IFRS and growth rates and percentage points changes are non-IFRS year on year at constant currencies. And with this, let's not waste any time. Over to you, Christian. Yeah, thank you, Monika, and welcome everyone here at our headquarter in Waldorf, and of course also to those who are joining us virtually from all over the world. I have actually, from my remarks, I have two rather big points. First, 2025, you have seen the numbers. Let me share also some more background on these numbers, and then, of course, also the outlook for 2026 and the years to come. And, of course, there I will also double down on the topic of AI. Now, Talking about 2025, I mean, first, when you look at the set of numbers, I would say I'm very happy with how SAP again once delivered a very successful year. You can look at cloud and software. We achieved our outlook. And please also remember in the half year one, we had a rough start. There were some geopolitical tensions, especially in the public sector. We actually had our challenges to actually do deals and still we achieved our outlook for the year. We overachieved and beat our outlook for operating profit and cash flow. It's not only about cost discipline. It's also the way how we transform SAP, how we make the internal processes more eff...