SAP SE Q4 Non-IFRS Operating Profit Rises 12%; Cloud And Software Revenue Up 8%

(RTTNews) - SAP SE (SAP) reported that its fourth-quarter non-IFRS basic earnings per share was up 21% to 1.82 euros. Operating profit increased 12% (non-IFRS) and up 9% (non-IFRS at constant currencies) to 2.84 billion euros.

Fourth-quarter total revenue grew 8% year over year to 8.04 billion euros (IFRS), up 8% (non-IFRS) and up 6% (non-IFRS at constant currencies). Cloud and software revenue grew 8% year over year to 6.85 billion euros (IFRS), up 8% (non-IFRS) and 6% (non-IFRS at constant currencies).

In the fourth quarter, new cloud bookings were 878 million euros, up 19% (up 17% at constant currencies) and up 20% excluding Infrastructure-as-a-Service (IaaS).

Fiscal 2019 non-IFRS basic earnings per share increased 18% to 5.11 euros. Total revenue was up 12% year over year to 27.55 billion euros (IFRS), up 12% (non-IFRS) and up 9% at (non-IFRS at constant currencies).

For fiscal 2020, SAP SE now expects non-IFRS operating profit to be in a range of 8.9 billion euros to 9.3 billion euros at constant currencies, up 8% - 13% at constant currencies. Non-IFRS total revenue is expected to be in a range of 29.2 billion euros to 29.7 billion euros at constant currencies, up 6% - 8% at constant currencies.

Over the period from 2018 through 2023, SAP continues to expect: increase the non-IFRS operating margin by one percentage point per year on average; reach a non-IFRS cloud gross margin of 75%; and grow to more than 35 billion euros in non-IFRS total revenue, with more than triple non-IFRS cloud revenue.