Sap Se
Sap Se

dpa-AFX/GNA – German software major SAP SE (SAP) announced its fourth quarter results on Friday, saying it expects fiscal 2021 adjusted operating profit of 7.8 billion euros to 8.2 billion euros (9.4 billion to 9.9 billion dollars), compared to last year’s 8.28 billion euros.

The outlook represents a 1-per-cent-to-6-per-cent drop at constant currencies.

Further, SAP expects 9.1 billion euros to 9.5 billion euros of non-IFRS cloud revenue, up 13 per cent to 18 per cent at constant currencies. The company projects 23.3 billion euros to 23.8 billion euros of non-IFRS cloud and software revenue, flat to up 2 per cent at constant currencies.

SAP said its 2021 outlook reflects its solid business momentum and current estimates concerning the timing and pace of recovery from the Covid-19 crisis. This outlook assumes the Covid-19 crisis will begin to recede as vaccine programs roll out globally, leading to a gradually improving demand environment in the second half of 2021.

Free cash flow is expected above 4.5 billion euros, compared to 6 billion euros last year.

SAP also confirmed its mid-term ambition, which was previously published along with third quarter results.

In its fourth quarter, the company reported profit after tax on IFRS basis of 1.93 billion euros, up 18 per cent from 1.64 billion euros last year. Non-IFRS profit after tax was 2.02 billion euros, compared to 2.19 billion euros a year ago.

Earnings per share was up 19 per cent year over year to 1.62 euros from 1.36 euros last year. Adjusted earnings per share were 1.69 euros, compared to 1.82 euros last year.

FRS operating profit increased 26 per cent year-over-year to 2.66 billion euros. Non-IFRS operating profit was down 3 per cent to 2.77 billion euros, while operating margin increased 1.4 percentage points year over year to 36.7 per cent.

Total revenue declined 6 per cent to 7.54 billion euros from 8.04 billion euros a year ago. Total revenue was down 2 per cent at constant currencies. Cloud and software revenue fell 4 per cent, while Cloud revenue grew 8 per cent.

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