WALLDORF, Germany, October 21, 2024 — SAP SE reported higher third-quarter cloud revenue, backlog and operating profit and raised its full-year outlook for cloud and software revenue, non-IFRS operating profit and free cash flow. The updated ranges remain forward-looking and are presented at constant currencies where specified.

The quarter ended September 30, 2024. According to SAP's full third-quarter results release, current cloud backlog reached €15.4 billion, increasing 25% on a reported basis and 29% at constant currencies. Cloud revenue was €4.351 billion, up 25% reported and 27% at constant currencies.

Cloud ERP Suite led the reported expansion

Cloud ERP Suite revenue increased 34% and 36% at constant currencies. Total revenue reached €8.470 billion, up 9% reported and 10% at constant currencies. SAP said a significant part of cloud agreements signed during the quarter included artificial-intelligence use cases, while the published figures do not assign a separate revenue contribution to AI.

Current cloud backlog measures contracted cloud revenue expected to be recognised over the following 12 months. It is an indicator of committed business rather than revenue already earned, and it can be affected by contract timing, currency movements and customer implementation schedules.

Third-quarter indicators

  • current cloud backlog: €15.4 billion, up 29% at constant currencies;
  • cloud revenue: €4.351 billion, up 27% at constant currencies;
  • Cloud ERP Suite revenue: up 36% at constant currencies;
  • total revenue: €8.470 billion, up 10% at constant currencies;
  • non-IFRS operating profit: €2.244 billion, up 28% at constant currencies.

Profit and cash flow supported the revision

IFRS operating profit increased 29% to €2.214 billion. Non-IFRS operating profit rose 27% to €2.244 billion and 28% at constant currencies. The two measures are not interchangeable: non-IFRS reporting excludes defined items that remain part of the statutory IFRS accounts.

Chief Financial Officer Dominik Asam said SAP's 2024 transformation programme had begun producing efficiency improvements while the company retained top-line momentum. Management said its focus was carrying that performance into the fourth quarter amid a volatile environment.

A text-free physical financial chart shows a backlog reservoir, rising cloud and ERP columns, a widening profit channel, three higher outlook gates and an amber cash-flow stream
The outlook gates move higher, while the reservoir and columns distinguish committed backlog from reported revenue and profit.

SAP raised three 2024 outlook ranges

The company increased its constant-currency outlook for cloud and software revenue to €29.5 billion–€29.8 billion, from €29.0 billion–€29.5 billion. The non-IFRS operating-profit range moved to €7.8 billion–€8.0 billion at constant currencies, compared with €7.6 billion–€7.9 billion previously.

Free-cash-flow guidance increased to €3.5 billion–€4.0 billion from approximately €3.5 billion. These ranges express management's expectations at the release date. Currency effects, customer decisions, execution of the transformation programme and broader economic conditions can cause actual results to differ.

Management commentary

Chief Executive Officer Christian Klein described the quarter as strong and highlighted Cloud ERP Suite growth and progress in Business AI. SAP cited innovations including its Knowledge Graph, while the financial release appropriately reports AI as part of broader cloud agreements rather than as a separately audited segment.

The company continues to manage a transition toward cloud subscriptions and more predictable revenue. Investors and customers should evaluate the reported growth together with implementation capacity, renewal behaviour, transformation costs and the distinction between backlog and recognised sales.

About SAP SE

SAP SE develops enterprise applications and related cloud services used to manage finance, supply chains, human resources, procurement and other core processes. This announcement summarises company-reported third-quarter 2024 information and does not replace SAP's quarterly statement or risk disclosures.

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URL: https://news.sap.com/2024/10/sap-announces-q3-2024-results/