EX-99.1 2 d290278dex991.htm EXHIBIT 99.1 Exhibit 99.1

Exhibit 99.1

LOGO

For Immediate Release

January 25, 2012

SAP Reports Best Ever Results — Full-Year 2011 Software Revenue Increases 25% at Constant Currencies to €4 Billion — Non-IFRS Operating Profit €4.8 Billion at Constant Currencies

 

•  

Best Ever Software Revenue Performance: Full-Year 2011 Software Revenue Increases 22% to €3.97 Billion (25% at Constant Currencies)

 

•  

Exceeding Revenue Guidance: Full-Year 2011 Non-IFRS Software and Software-Related Service Revenue Increases 15% (17% at Constant Currencies)

 

•  

Exceeding Operating Profit Guidance: Full-Year 2011 Non-IFRS Operating Profit €4.71 Billion (€4.78 Billion at Constant Currencies), Resulting in Full-Year 2011 Non-IFRS Operating Margin Increasing by 1.1 Percentage Points at Constant Currencies to 33.1%

 

•  

Double-Digit Earnings Per Share Growth: 23% Increase in Full-Year 2011 Non-IFRS Earnings Per Share

 

•  

Record Operating Cash Flow: 29% Increase to €3.78 Billion

 

•  

Strong Contribution From Innovations: SAP HANA and Mobile €270 Million

WALLDORF, Germany — January 25, 2012 — SAP AG (NYSE: SAP) today announced its preliminary financial results for the fourth quarter and full-year ended December 31, 2011.

“SAP performed exceptionally well in 2011 clearly exceeding its guidance for revenue and profit. This record performance was driven by strong top line results with double-digit software revenue growth in all regions, resulting in year over year total revenue growth of €1.7 billion and a record cash flow,” said Werner Brandt, CFO of SAP. “We are well positioned to exceed our €20 billion revenue target and reach a 35% operating margin in 2015.”

“In an uncertain environment, we had the best year in our 40 year history and clearly outperformed the competition. We extended our leadership in enterprise applications, analytics and mobile and are reinventing the database and cloud markets,” said Bill McDermott and Jim Hagemann Snabe, co-CEOs of SAP. “We have significant momentum going into 2012, as our customers continue to benefit from faster innovation, easier adoption and our unmatched industry expertise.”

SAP Reports Fourth Quarter and Full-Year 2011 Results      Page  2   

 

FINANCIAL RESULTS IN DETAIL

FINANCIAL HIGHLIGHTS — Fourth Quarter 2011

 

       Fourth Quarter 20111)  
       IFRS        Non-IFRS2)  

€ million, unless
otherwise stated

      Q4 2011        Q4 2010        %
change		        Q4 2011        Q4 2010        %
change		        %  change
const.
curr.3)		  

Software revenue

        1,744           1,507           16           1,744           1,507           16           17   

Support revenue

        1,874           1,654           13           1,875           1,692           11           11   

Software and software-related service revenue

        3,720           3,273           14           3,721           3,311           12           13   

Total revenue

        4,498           4,058           11           4,499           4,096           10           10   

Total operating expenses

        -2,832           -3,514           -19           -2,718           -2,474           10           10   

- thereof TomorrowNow litigation

        6           -934           <-100           N/A           N/A           N/A           N/A   

Operating profit

        1,666           544           206           1,781           1,622           10           10   

Operating margin (%)

        37.0           13.4           23.6pp           39.6           39.6           0           0.1pp   

Profit after tax

        1,199           434           176           1,281           1,109           16        

Basic earnings per share (€)

        1.01           0.37           173           1.08           0.93           16        

Number of employees (FTE)

        55,765           53,513           4           N/A           N/A           N/A           N/A   

 

 

1) All figures are preliminary and unaudited.

 

2) Adjustments in the revenue line items are for the support revenue that would have been recognized had the acquired entities remained stand-alone entities but that SAP is not permitted to recognize as revenue under IFRS as a result of business combination accounting rules. Adjustments in the operating expense line items are for acquisition-related charges, share-based compensation expenses, restructuring and discontinued activities.

 

3) Constant currency revenue and operating profit figures are calculated by translating revenue and operating income of the current period using the average exchange rates from the previous year’s respective period instead of the current period. Constant currency period-over-period changes are calculated by comparing the current year’s non-IFRS constant currency numbers with the non-IFRS number of the previous year’s respective period.

Revenue — Fourth Quarter 2011

 

•  

IFRS software revenue was €1.74 billion (2010: €1.51 billion), an increase of 16% (17% at constant currencies).

 

•  

IFRS software and software-related service revenue was €3.72 billion (2010: €3.27 billion), an increase of 14%. Non-IFRS software and software-related service revenue was €3.72 billion (2010: €3.31 billion), an increase of 12% (13% at constant currencies).

 

•  

IFRS total revenue was €4.50 billion (2010: €4.06 billion), an increase of 11%. Non-IFRS total revenue was €4.50 billion (2010: €4.10 billion), an increase of 10% (10% at constant currencies).

Fourth Quarter 2011 non-IFRS software and software-related service revenue and total revenue exclude a deferred support revenue write-down from acquisitions of €1 million (2010: €38 million).

Profit — Fourth Quarter 2011

 

•  

IFRS operating profit was €1.67 billion (2010: €544 million), an increase of 206%. Non-IFRS operating profit was €1.78 billion (2010: €1.62 billion), an increase of 10% (10% at constant currencies).

SAP Reports Fourth Quarter and Full-Year 2011 Results      Page  3   

 

 

•  

IFRS operating margin was 37.0% (2010: 13.4%), an increase of 23.6 percentage points. Non-IFRS operating margin was 39.6% (2010: 39.6%), or 39.7% at constant currencies, an increase of 0.1 percentage points at constant currencies.

 

•  

IFRS profit after tax was €1.20 billion (2010: €434 million), an increase of 176%. Non-IFRS profit after tax was €1.28 billion (2010: €1.11 billion), an increase of 16%. IFRS basic earnings per share was €1.01 (2010: €0.37), an increase of 173%. Non-IFRS basic earnings per share was €1.08 (2010: €0.93), an increase of 16%.

 

•  

The IFRS and non-IFRS effective tax rates in the fourth quarter of 2011 were 25.9% (2010: 4.0%) and 26.1% (2010: 27.5%), respectively.

 

•  

Fourth quarter 2011 operating profit and operating margin were impacted by SAP’s continued investments in go-to-market activities intended to capture future growth opportunities, resulting in a sequential increase in headcount in sales and marketing by almost 500 full-time-equivalents (FTEs). Total headcount for the Group grew in the fourth quarter by almost 1,200 FTEs compared to the previous quarter.

 

•  

Fourth quarter 2010 IFRS operating profit and operating margin were negatively impacted by the provision for the TomorrowNow litigation while there was no such effect on SAP’s non-IFRS operating profit and operating margin.

Fourth Quarter 2011 non-IFRS operating profit excludes a deferred support revenue write-down from acquisitions of €1 million, acquisition-related charges of €115 million, profit from discontinued activities of €6 million, share-based compensation expenses of €3 million and restructuring expenses of €2 million (2010: €38 million, €99 million, expenses of €935 million, €9 million and -€2 million). Fourth Quarter 2011 non-IFRS profit after tax and non-IFRS basic earnings per share exclude a deferred support revenue write-down from acquisitions of €1 million, acquisition-related charges of €78 million, profit from discontinued activities of €2 million, share-based compensation expenses of €4 million and restructuring expenses of €1 million (2010: €25 million, €70 million, expenses of €575 million, €6 million and -€1 million) net of tax.

SAP Reports Fourth Quarter and Full-Year 2011 Results      Page  4   

 

FINANCIAL HIGHLIGHTS — Full-Year 2011

 

       Full-Year 20111)  
       IFRS        Non-IFRS2)  

€ million, unless
otherwise stated

      FY 2011        FY 2010        %
change		        FY 2011        FY 2010        %
change		        %  change
const.
curr.3)		  

Software revenue

        3,970           3,265           22           3,970           3,265           22           25   

Support revenue

        6,967           6,133           14           6,994           6,207           13           14   

Software and software-related service revenue

        11,318           9,794           16           11,345           9,868           15           17   

Total revenue

        14,232           12,464           14           14,259           12,538           14           15   

Total operating expenses

        -9,353           -9,873           -5           -9,549           -8,531           12           13   

- thereof TomorrowNow litigation

        717           -981           <-100           N/A           N/A           N/A           N/A   

Operating profit

        4,879           2,591           88           4,710           4,007           18           19   

Operating margin (%)

        34.3           20.8           13.5pp           33.0           32.0           1.0pp           1.1pp   

Profit after tax

        3,441           1,813           90           3,371           2,738           23        

Basic earnings per share (€)

        2.89           1.52           90           2.83           2.30           23        

Number of employees (FTE)

        55,765           53,513           4           N/A           N/A           N/A           N/A   

 

 

1) All figures are preliminary and unaudited.

 

2) Adjustments in the revenue line items are for the support revenue that would have been recognized had the acquired entities remained stand-alone entities but that SAP is not permitted to recognize as revenue under IFRS as a result of business combination accounting rules. Adjustments in the operating expense line items are for acquisition-related charges, share-based compensation expenses, restructuring and discontinued activities.

 

3) Constant currency revenue and operating profit figures are calculated by translating revenue and operating income of the current period using the average exchange rates from the previous year’s respective period instead of the current period. Constant currency period-over-period changes are calculated by comparing the current year’s non-IFRS constant currency numbers with the non-IFRS number of the previous year’s respective period.

Revenue — Full-Year 2011

 

  •  

IFRS software revenue was €3.97 billion (2010: €3.27 billion), an increase of 22% (25% at constant currencies).

 

  •  

IFRS software and software-related service revenue was €11.32 billion (2010: €9.79 billion), an increase of 16%. Non-IFRS software and software-related service revenue was €11.35 billion (2010: €9.87 billion), an increase of 15% (17% at constant currencies).

 

  •  

IFRS total revenue was €14.23 billion (2010: €12.46 billion), an increase of 14%. Non-IFRS total revenue was €14.26 billion (2010: €12.54 billion), an increase of 14% (15% at constant currencies).

Full-Year 2011 Non-IFRS software and software-related service revenue as well as total revenue exclude a deferred support revenue write-down from acquisitions of €27 million (2010: €74 million).

Profit — Full-Year 2011

 

  •  

IFRS operating profit was €4.88 billion (2010: €2.59 billion), an increase of 88%. Non-IFRS operating profit was €4.71 billion (2010: €4.01 billion), an increase of 18% (19% at constant currencies).

 

  •  

IFRS operating margin was 34.3% (2010: 20.8%), an increase of 13.5 percentage points. Non-IFRS operating margin was 33.0% (2010: 32.0%), or 33.1% at constant currencies, an increase of 1.0 percentage points (1.1 percentage points at constant currencies).

SAP Reports Fourth Quarter and Full-Year 2011 Results      Page  5   

 

 

  •  

IFRS profit after tax was €3.44 billion (2010: €1.81 billion), an increase of 90%. Non-IFRS profit after tax was €3.37 billion (2010: €2.74 billion), an increase of 23%. IFRS basic earnings per share was €2.89 (2010: €1.52), an increase of 90%. Non-IFRS basic earnings per share was €2.83 (2010: €2.30), an increase of 23%.

 

  •  

Full year 2011 IFRS operating profit and operating margin numbers were favorably impacted by the re-measurement of the TomorrowNow litigation provision while full year 2010 IFRS operating profit and operating margin were negatively impacted by the TomorrowNow litigation provision. The provision in 2010 as well as the re-measurement in 2011 did not affect SAP’s non-IFRS operating profit and operating margin results.

 

  •  

The IFRS and non-IFRS effective tax rates in the first twelve months 2011 were 27.8% (2010: 22.5%) and 26.5% (2010: 27.2%), respectively.

 

  •  

The main reason for the significant year over year difference is the change in the measurement of the TomorrowNow litigation provision. While 2010 saw a tax rate reduction of almost 5 percentage points as a result of the significant increase of the TomorrowNow litigation provision, 2011 experienced the tax rate increase resulting from the reduction of the same provision. However, this increase was offset by tax effects related to intercompany financing.

 

  •  

The 2011 effective tax rate based on Non-IFRS profit was 26.5% and thus below the respective rate in 2010 (27.2%). The main reasons for the decrease were tax effects related to intercompany financing.

Full-Year 2011 non-IFRS operating profit excludes a deferred support revenue write-down from acquisitions of €27 million, acquisition-related charges of €448 million, profit from discontinued activities of €717 million, share-based compensation expenses of €69 million and restructuring expenses of €4 million (2010: €74 million, €304 million, expenses of €983 million, €58 million and -€3 million). Full-Year 2011 non-IFRS profit after tax and non-IFRS basic earnings per share exclude a deferred support revenue write-down from acquisitions of €18 million, acquisition-related charges of €303 million, profit from discontinued activities of €444 million, share-based compensation expenses of €51 million and restructuring expenses of €2 million (2010: €50 million, €221 million, expenses of €613 million, €42 million and -€1 million) net of tax.

Cash Flow — Full-Year 2011

Operating cash flow was €3.78 billion (2010: €2.92 billion), an increase of 29%. Free cash flow was €3.33 billion (2010: €2.59 billion), an increase of 29%. Free cash flow was 23% of total revenue (2010: 21%). At December 31, 2011, SAP had a total group liquidity of €5.60 billion (December 31, 2010: €3.53 billion), which includes cash and cash equivalents and short term investments. Net liquidity at December 31, 2011 was €1.64 billion compared to -€850 million at December 31, 2010. This increase in net liquidity was mainly due to the increased operating cash flow in the fiscal year 2011.

SAP Reports Fourth Quarter and Full-Year 2011 Results      Page  6   

 

SuccessFactors

On December 3, 2011, SAP entered into a merger agreement with SuccessFactors, Inc., the market-leading provider of cloud-based human capital management solutions. A successful closing of the acquisition will add SuccessFactors’ team and technology to SAP’s powerful cloud assets, significantly accelerating SAP’s momentum as a provider of cloud applications, platforms and infrastructure. Currently, we expect the acquisition to close in the first quarter of 2012.

Change in Income Statement Presentation

In light of SAP’s strong focus on the cloud market, SAP intends to realign, for periods starting on or after January 1, 2012, its income statement to provide additional transparency on cloud-related revenue streams and revenues from multi-year licensing arrangements (formerly known as software subscriptions):

 

  •  

‘Cloud subscriptions and support’ will no longer be included in the line item ‘Subscription and other software-related service revenue’ but will be presented as a separate line item within ‘Software and software-related service revenue’

 

  •  

Revenues from multi-year licensing arrangements and all other revenues so far included in the ‘Subscription and other software-related service revenue’ line item will be split into their software portion and support portion with these portions being allocated to the ‘Software revenue’ and ‘Support revenue’ line items respectively.

This reclassification only affects sub items of ‘Software and software-related service revenue’. The total of ‘Software and software-related service revenue’ and consequently total revenue as well as profit numbers and operating margin figures will not be affected by this change. The financial section of this press release also includes the preliminary full year 2011 income statement and the reconciliations from non-IFRS numbers to IFRS numbers under the new format.

In addition, for periods starting on or after January 1, 2012, SAP has modified the definition of its non-IFRS revenue and profit measures. See the section below called Adjustment to Definition of Non-IFRS Revenue and Profit Measures for additional details.

SAP Reports Fourth Quarter and Full-Year 2011 Results      Page  7   

 

Business Outlook

Based on the expectation of a successful closing of the SuccessFactors acquisition in the first quarter of 2012, SAP is providing the following outlook for the full-year 2012:

 

  •  

The Company expects full-year 2012 non-IFRS software and software-related service revenue to increase in a range of 10% – 12% at constant currencies (2011: €11.35 billion). This includes a contribution of up to 2 percentage points from SuccessFactors’ business.

 

  •  

The Company expects full-year 2012 non-IFRS operating profit to be in a range of €5.05 billion – €5.25 billion at constant currencies (2011: €4.71 billion). Full-year 2012 non-IFRS operating profit excluding SuccessFactors is expected to be in a similar range.

 

  •  

The Company projects a full-year 2012 IFRS effective tax rate of 26.5% – 27.5% (2011: 27.8%) and a non-IFRS effective tax rate of 27.0%—28.0% (2011: 26.5%).

Major Customer Wins

In the fourth quarter of 2011, SAP closed major contracts in key regions:

EMEA

Deutsche Lufthansa AG, Bundesrechenzentrum GmbH, Lidl, Clariant International Ltd., FIAT, Vodafone

Americas

U.S. Department of Agriculture, ConAgra Foods, Inc., Ace Hardware Corporation, Delta Air Lines, Inc., Banco de Galicia y Buenos Aires S.A., Petróleos Mexicanos

Asia Pacific/Japan

Yonghui Superstores Co. Ltd., Tingyi Holding Corporation, Department of Finance and Deregulation, Usha International Ltd., Powercor, Sharp Corporation

HANA

Gonhermex, S.A. de C.V., Grupo Gonher, Schukat electronic Vertriebs GmbH, EBY-Brown Company LLC, Newell Rubbermaid, Inc., Coinstar, Inc., T-Mobile USA, Inc.

SAP Business ByDesign

EC Bioenergie GmbH, DESANO Pharmacy, Innogence Limited, Matchcode, metaio, Schaltbau Holding AG, Schukat electronic Vertriebs GmbH

Adjustment to Definition of Non-IFRS Revenue and Profit Measures

In light of SAP’s strong focus on the cloud market and considering the planned acquisition of SuccessFactors, SAP widens the range of revenues for which acquisition-related deferred revenue write-downs are adjusted in determining SAP’s non-IFRS revenue and profit numbers. SAP continues to adjust for deferred revenue write-downs, i.e. for revenues that would have been recognized had the acquired entities remained stand-alone entities but that SAP is not permitted to recognize as revenue under IFRS as a result of business combination accounting rules. However, in the definitions of SAP’s non-IFRS measures used through 2011, such adjustments for deferred revenue write downs were limited to support revenues. From 2012 onwards, SAP will additionally make such deferred revenue write -down adjustments for cloud subscription revenues and other similarly recurring revenues.

SAP Reports Fourth Quarter and Full-Year 2011 Results      Page  8   

 

All other non-IFRS measures will remain unchanged. Since the deferred revenue write-down adjustments for recurring revenues other than support revenue from acquisitions that were executed through 2011 were immaterial, SAP does not restate prior period non-IFRS measures to align with the new definition.

For a more detailed description of all of SAP’s non-IFRS adjustments and their limitations as well as our constant currency and free cash flow figures see Explanations of Non-IFRS Measures online (www.sap.com/investor).

Additional Information

Fourth Quarter and year-to-date 2011 revenue, profit and cash flow figures include the revenue, profits and cash flows from Sybase. For the prior-year periods those numbers were only included since the acquisition (July 26, 2010).

In 2011, SAP re-measured the provision recorded for the TomorrowNow litigation following the motion granted by the judge on the original jury verdict. The judge’s decision vacated the original verdict of $1.3 billion, but gave Oracle the choice of accepting $272 million or seeking a new trial. The deadline for Oracle to make that choice depended on the outcome and timing of a ruling on Oracle’s motion for an early appeal. The early appeal was denied on January 6, 2012, and Oracle now has the choice to accept the reduced damages of $272 million or seek a new trial to determine damages.

The re-measurement of the provision additionally reflects currency exchange rate changes and changes in the estimate of related legal expenses. While the resulting re-measurement of the TomorrowNow litigation provision favorably impacted SAP’s fiscal year 2011 IFRS operating profit and operating margin it did not have an effect on SAP’s fiscal year 2011 non-IFRS operating profit and operating margin.

# #

2011 Annual Report

SAP’s 2011 Annual Report to Shareholders and 2011 Annual Report on Form 20-F are scheduled to be published on March 23, 2012, and will be available for download at www.sap.com/investor.

Webcast

SAP senior management will host a press conference in Frankfurt today at 10:00 AM (CET) / 9:00 AM (GMT) / 4:00 AM (Eastern) / 1:00 AM (Pacific), followed by an investor conference at 2:00 PM (CET) / 1:00 PM (GMT) / 8:00 AM (Eastern) / 5:00 AM (Pacific). Both conferences will be web cast live on the Company’s website at www.sap.com/investor and will be available for replay. Supplementary financial information pertaining to the full-year and quarterly results can be found at www.sap.com/investor.

About SAP

As market leader in enterprise application software, SAP (NYSE: SAP) helps companies of all sizes and industries run better. From back office to boardroom, warehouse to storefront, desktop to mobile device – SAP empowers people and organizations to work together more efficiently and use business insight more effectively to stay ahead of the competition. SAP applications and services enable more than 183,000 customers to operate profitably, adapt continuously, and grow sustainably. For more information, visit www.sap.com.

SAP Reports Fourth Quarter and Full-Year 2011 Results      Page  9   

 

# # #

Any statements contained in this document that are not historical facts are forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. Words such as “anticipate,” “believe,” “estimate,” “expect,” “forecast,” “intend,” “may,” “plan,” “project,” “predict,” “should” and “will” and similar expressions as they relate to SAP are intended to identify such forward-looking statements. SAP undertakes no obligation to publicly update or revise any forward-looking statements. All forward-looking statements are subject to various risks and uncertainties that could cause actual results to differ materially from expectations. The factors that could affect SAP’s future financial results are discussed more fully in SAP’s filings with the U.S. Securities and Exchange Commission (“SEC”), including SAP’s most recent Annual Report on Form 20-F filed with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of their dates.

© 2012 SAP AG. All rights reserved.

SAP, R/3, SAP NetWeaver, Duet, PartnerEdge, ByDesign, SAP BusinessObjects Explorer, StreamWork, SAP HANA, and other SAP products and services mentioned herein as well as their respective logos are trademarks or registered trademarks of SAP AG in Germany and other countries.

Business Objects and the Business Objects logo, BusinessObjects, Crystal Reports, Crystal Decisions, Web Intelligence, Xcelsius, and other Business Objects products and services mentioned herein as well as their respective logos are trademarks or registered trademarks of Business Objects Software Ltd. Business Objects is an SAP company. Sybase and Adaptive Server, iAnywhere, Sybase 365, SQL Anywhere, and other Sybase products and services mentioned herein as well as their respective logos are trademarks or registered trademarks of Sybase, Inc. Sybase is an SAP company.

All other product and service names mentioned are the trademarks of their respective companies. Data contained in this document serves informational purposes only. National product specifications may vary.

These materials are subject to change without notice. These materials are provided by SAP AG and its affiliated companies (“SAP Group”) for informational purposes only, without representation or warranty of any kind, and SAP Group shall not be liable for errors or omissions with respect to the materials. The only warranties for SAP Group products and services are those that are set forth in the express warranty statements accompanying such products and services, if any. Nothing herein should be construed as constituting an additional warranty.

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Appendix – Financial Information to Follow

LOGO

FINANCIAL INFORMATION

FOR THE FOURTH QUARTER 2011

(Condensed and Unaudited)

 

     Page  

Financial Statements (IFRS)

   

Income Statements – Quarter

      F1   

Income Statements – Twelve Months

      F2   

Statements of Financial Position

      F3   

Statements of Cash Flows

      F5   

Supplementary Financial Information

   

Reconciliations from Non-IFRS Numbers to IFRS Numbers

      F6 to F7   

Revenue by Region

      F8 to F9   

New Income Statement Format–Consolidated Income Statements

      F10   

New Income Statement Format–Reconciliations from Non-IFRS Numbers to IFRS Numbers

      F11   

Financial Statements (IFRS)

CONSOLIDATED INCOME STATEMENT

for the three months ended December 31

(Preliminary and Unaudited)

 

€ millions, unless
otherwise stated

    2011      2010      Change
in %		  

Software revenue

      1,744         1,507         16   

Support revenue

      1,874         1,654         13   

Subscription and other software-related service revenue

      102         112         –9   

Software and software-related service revenue

      3,720         3,273         14   

Consulting revenue

      615         625         –2   

Other service revenue

      163         160         2   

Professional services and other service revenue

      778         785         –1   

Total revenue

      4,498         4,058         11   

Cost of software and software-related services

      –607         –541         12   

Cost of professional services and other services

      –560         –593         –6   

Research and development

      –537         –487         10   

Sales and marketing

      –940         –788         19   

General and administration

      –203         –175         16   

Restructuring

      –2         2         <-100   

TomorrowNow litigation

      6         –934         <-100   

Other operating income/expense, net

      11         2         >100   

Total operating expenses

      –2,832         –3,514         –19   

Operating profit

      1,666         544         206   

Other non-operating income/expense, net

      –45         –50         –10   

Finance income

      46         21         >100   

Finance Cost TomorrowNow litigation

      1         –12         <-100   

Other finance costs

      –49         –51         –4   

Finance costs

      –48         –63         –24   

Financial income, net

      –2         –42         –95   

Profit before tax

      1,619         452         258   

Income tax TomorrowNow litigation

      –5         359         <-100   

Other income tax expense

      –415         –377         10   

Income tax expense

      –420         –18         2,233   

Profit after tax

      1,199         434         176   

Profit attributable to non-controlling interests

      0         0         0   

Profit attributable to owners of parent

      1,199         434         176   
        

Basic earnings per share, in €*

      1.01         0.37         173   

Diluted earnings per share, in €*

      1.01         0.37         173   

 

* for the three months ended December 31, 2011 and 2010 the weighted average number of shares were 1,190 million (Diluted: 1,190 million) and 1,188 million (Diluted: 1,188 million), respectively (treasury stock excluded).

 

F1

CONSOLIDATED INCOME STATEMENT

for the twelve months ended December 31

(Preliminary and Unaudited)

 

€ millions, unless

otherwise stated

    2011      2010      Change
in %		  

Software revenue

      3,970         3,265         22   

Support revenue

      6,967         6,133         14   

Subscription and other software-related service revenue

      381         396         –4   

Software and software-related service revenue

      11,318         9,794         16   

Consulting revenue

      2,341         2,197         7   

Other service revenue

      573         473         21   

Professional services and other service revenue

      2,914         2,670         9   

Total revenue

      14,232         12,464         14   

Cost of software and software-related services

      –2,111         –1,823         16   

Cost of professional services and other services

      –2,232         –2,071         8   

Research and development

      –1,939         –1,729         12   

Sales and marketing

      –3,080         –2,645         16   

General and administration

      –718         –636         13   

Restructuring

      –4         3         <-100   

TomorrowNow litigation

      717         –981         <-100   

Other operating income/expense, net

      14         9         56   

Total operating expenses

      –9,353         –9,873         –5   

Operating profit

      4,879         2,591         88   

Other non-operating income/expense, net

      –79         –186         –58   

Finance income

      123         73         68   

Finance costs TomorrowNow litigation

      8         –12         <-100   

Other finance costs

      –168         –128         31   

Finance costs

      –160         –140         14   

Financial income, net

      –37         –67         –45   

Profit before tax

      4,763         2,338         104   

Income tax TomorrowNow litigation

      –281         377         <-100   

Other income tax expense

      –1,041         –902         15   

Income tax expense

      –1,322         –525         152   

Profit after tax

      3,441         1,813         90   

Profit attributable to non-controlling interests

      1         2         –50   

Profit attributable to owners of parent

      3,440         1,811         90   
        

Basic earnings per share, in €*

      2.89         1.52         90   

Diluted earnings per share, in €*

      2.89         1.52         90   

 

* for the twelve months ended December 31, 2011 and 2010 the weighted average number of shares were 1,189 million (Diluted: 1,190 million) and 1,188 million (Diluted: 1,189 million), respectively (treasury stock excluded).

 

F2

CONSOLIDATED STATEMENTS OF FINANCIAL POSITION

as at December 31, 2011 and December 31, 2010

(Preliminary and Unaudited)

 

€ millions

    2011      2010  

Cash and cash equivalents

      4,965         3,518   

Other financial assets

      816         158   

Trade and other receivables

      3,494         3,099   

Other non-financial assets

      205         181   

Tax assets

      214         187   

Total current assets

      9,694         7,143   

Goodwill

      8,709         8,428   

Intangible assets

      2,024         2,376   

Property, plant, and equipment

      1,551         1,449   

Other financial assets

      538         475   

Trade and other receivables

      84         78   

Other non-financial assets

      39         31   

Tax assets

      146         122   

Deferred tax assets

      466         737   

Total non-current assets

      13,557         13,696   

Total assets

      23,251         20,839   

 

F3

€ millions

    2011      2010  

Trade and other payables

      979         923   

Tax liabilities

      379         164   

Financial liabilities

      1,331         142   

Other non-financial liabilities

      1,994         1,726   

Provision TomorrowNow litigation

      231         997   

Other provisions

      315         290   

Provisions

      546         1,287   

Deferred income

      1,048         911   

Total current liabilities

      6,277         5,153   

Trade and other payables

      43         30   

Tax liabilities

      410         369   

Financial liabilities

      2,925         4,449   

Other non-financial liabilities

      91         85   

Provisions

      273         292   

Deferred tax liabilities

      477         574   

Deferred income

      44         63   

Total non-current liabilities

      4,263         5,862   

Total liabilities

      10,540         11,015   

Issued capital

      1,228         1,227   

Share premium

      421         337   

Retained earnings

      12,468         9,767   

Other components of equity

      –37         –142   

Treasury shares

      –1,377         –1,382   

Equity attributable to owners of parent

      12,703         9,807   

Non-controlling interests

      8         17   

Total equity

      12,711         9,824   

Equity and liabilities

      23,251         20,839   

 

F4

CONSOLIDATED STATEMENTS OF CASH FLOWS

for the twelve months ended December 31

(Preliminary and Unaudited)

 

€ millions

    2011      2010  

Profit after tax

      3,441         1,813   

Adjustments to reconcile profit after taxes to net cash provided by operating activities:

      

Depreciation and amortization

      724         534   

Income tax expense

      1,322         525   

Financial income, net

      37         67   

Decrease/increase in sales and bad debt allowances on trade receivables

      –18         –49   

Other adjustments for non-cash items

      17         29   

Decrease/increase in trade receivables

      –428         –123   

Decrease/increase in other assets

      –76         –122   

Decrease/increase in trade payables, provisions and other liabilities

      –335         1,116   

Decrease/increase in deferred income

      124         66   

Cash outflows due to TomorrowNow litigation

      –53         –102   

Interest paid

      –139         –66   

Interest received

      92         52   

Income taxes paid, net of refunds

      –932         –818   

Net cash flows from operating activities

      3,776         2,922   

Business combinations, net of cash and cash equivalents acquired

      –188         –4,194   

Purchase of intangible assets and property, plant and equipment

      –445         –334   

Proceeds from sales of intangible assets or property, plant, and equipment

      55         44   

Purchase of equity or debt instruments of other entities

      –2,045         –842   

Proceeds from sales of equity or debt instruments of other entities

      1,398         1,332   

Net cash flows from investing activities

      –1,225         –3,994   

Purchase of non-controlling interests

      –28         0   

Dividends paid

      –713         –594   

Purchase of treasury shares

      –246         –220   

Proceeds from reissuance of treasury shares

      252         127   

Proceeds from issuing shares (share-based compensation)

      46         23   

Proceeds from borrowings

      519         5,380   

Repayments of borrowings

      –1,005         –2,196   

Net cash flows from financing activities

      –1,175         2,520   

Effect of foreign exchange rates on cash and cash equivalents

      71         186   

Net decrease/increase in cash and cash equivalents

      1,447         1,634   

Cash and cash equivalents at the beginning of the period

      3,518         1,884   

Cash and cash equivalents at the end of the period

      4,965         3,518   

 

F5

Supplementary Financial Information

RECONCILIATIONS FROM NON-IFRS NUMBERS TO IFRS NUMBERS

(Preliminary and Unaudited)

The following table presents a reconciliation from our non-IFRS numbers (including our non-IFRS at constant currency numbers) to the respective most comparable IFRS numbers. Note: Our non-IFRS numbers are not prepared under a comprehensive set of accounting rules or principles.

 

    Three months ended December 31  

€ millions, unless
otherwise stated

   2011     2010     Change in %  
    IFRS     Adj.*     Non-
IFRS*		     Currency
impact**		     Non-IFRS
constant
currency**		     IFRS     Adj.*     Non-
IFRS*		     IFRS     Non-
IFRS*		     Non-IFRS
constant
currency**		  

Revenue Numbers

                                                                                        

Software revenue

     1,744        0        1,744        17        1,761        1,507        0        1,507        16        16        17   

Support revenue

     1,874        1        1,875        –3        1,872        1,654        38        1,692        13        11        11   

Subscription and other software-related service revenue

     102        0        102        –1        101        112        0        112        –9        –9        –10   

Software and software-related service revenue

     3,720        1        3,721        13        3,734        3,273        38        3,311        14        12        13   

Consulting revenue

     615        0        615        1        616        625        0        625        –2        –2        –1   

Other service revenue

     163        0        163        1        164        160        0        160        2        2        3   

Professional services and other service revenue

     778        0        778        2        780        785        0        785        –1        –1        –1   

Total revenue

     4,498        1        4,499        15        4,514        4,058        38        4,096        11        10        10   

Operating Expense Numbers

                                                                                        

Cost of software and software-related services

     –607        69        –538            –541        64        –477        12        13     

Cost of professional services and other services

     –560        5        –555            –593        5        –588        –6        –6     

Research and development

     –537        5        –532            –487        0        –487        10        9     

Sales and marketing

     –940        32        –908            –788        34        –754        19        20     

General and administration

     –203        7        –196            –175        5        –170        16        15     

Restructuring

     –2        2        0            2        –2        0        <-100        0     

TomorrowNow litigation

     6        –6        0            –934        934        0        <-100        0     

Other operating income/expense, net

     11        0        11                        2        0        2        >100        >100           

Total operating expenses

     –2,832        114        –2,718        –5        –2,723        –3,514        1,041        –2,474        –19        10        10   

Profit Numbers

                                                                                        

Operating profit

     1,666        115        1,781        10        1,791        544        1,079        1,622        206        10        10   

Other non-operating income/expense, net

     –45        0        –45            –50        –14        –64        –10        –30     

Finance income

     46        0        46            21        0        21        >100        >100     

Finance Cost TomorrowNow litigation

     1        –1        0            –12        12        0        <-100        0     

Other finance costs

     –49        0        –49            –51        0        –51        –4        –4     

Finance costs

     –48        –1        –49                        –63        12        –51        –24        –4           

Financial income, net

     –2        –1        –3                        –42        12        –30        –95        –90           

Profit before tax

     1,619        114        1,733            452        1,077        1,529        258        13     

Income tax TomorrowNow litigation

     –5        5        0            359        –359        0        <-100        0     

Other income tax expense

     –415        –37        –452            –377        –43        –420        10        8     

Income tax expense

     –420        –32        –452                        –18        –402        –420        2,233        8           

Profit after tax

     1,199        82        1,281            434        675        1,109        176        16     

Profit attributable to non-controlling interests

     0        0        0            0        0        0        0        0     

Profit attributable to owners of parent

     1,199        82        1,281            434        675        1,109        176        16     

Key Ratios

                                                                                        

Operating margin in %

     37.0          39.6          39.7        13.4          39.6        23.6pp        0        0.1pp   

Effective tax rate in %

     25.9          26.1            4.0          27.5        21.9pp        –1.4pp     

Basic earnings per share, in €*

     1.01          1.08            0.37          0.93        173        16     

 

F6

    Twelve months ended December 31  

€ millions, unless
otherwise stated

   2011     2010     Change in %  
    IFRS     Adj.*     Non-
IFRS*		     Currency
impact**		     Non-IFRS
constant
currency**		     IFRS     Adj.*     Non-
IFRS*		     IFRS     Non-
IFRS*		     Non-IFRS
constant
currency**		  

Revenue Numbers

                                                                                        

Software revenue

     3,970        0        3,970        96        4,066        3,265        0        3,265        22        22        25   

Support revenue

     6,967        27        6,994        58        7,052        6,133        74        6,207        14        13        14   

Subscription and other software-related service revenue

     381        0        381        –1        380        396        0        396        –4        –4        –4   

Software and software-related service revenue

     11,318        27        11,345        153        11,498        9,794        74        9,868        16        15        17   

Consulting revenue

     2,341        0        2,341        35        2,376        2,197        0        2,197        7        7        8   

Other service revenue

     573        0        573        8        581        473        0        473        21        21        23   

Professional services and other service revenue

     2,914        0        2,914        43        2,957        2,670        0        2,670        9        9        11   

Total revenue

     14,232        27        14,259        196        14,455        12,464        74        12,538        14        14        15   

Operating Expense Numbers

                                                                                        

Cost of software and software-related services

     –2,111        285        –1,826            –1,823        202        –1,621        16        13     

Cost of professional services and other services

     –2,232        33        –2,199            –2,071        18        –2,053        8        7     

Research and development

     –1,939        41        –1,898            –1,729        23        –1,706        12        11     

Sales and marketing

     –3,080        127        –2,953            –2,645        95        –2,550        16        16     

General and administration

     –718        31        –687            –636        26        –610        13        13     

Restructuring

     –4        4        0            3        –3        0        <-100        0     

TomorrowNow litigation

     717        –717        0            –981        981        0        <-100        0     

Other operating income/expense, net

     14        0        14                        9        0        9        56        56           

Total operating expenses

     –9,353        –196        –9,549        –128        –9,677        –9,873        1,342        –8,531        –5        12        13   

Profit Numbers

                                                                                        

Operating profit

     4,879        –169        4,710        68        4,778        2,591        1,416        4,007        88        18        19   

Other non-operating income/expense, net

     –79        0        –79            –186        –4        –190        –58        –58     

Finance income

     123        0        123            73        0        73        68        68     

Finance costs TomorrowNow litigation

     8        –8        0            –12        12        0        <-100        0     

Other finance costs

     –168        0        –168            –128        0        –128        31        31     

Finance costs

     –160        –8        –168                        –140        12        –128        14        31           

Financial income, net

     –37        –8        –45                        –67        12        –55        –45        –18           

Profit before tax

     4,763        –177        4,586            2,338        1,424        3,762        104        22     

Income tax TomorrowNow litigation

     –281        281        0            377        –377        0        <-100        0     

Other income tax expense

     –1,041        –174        –1,215            –902        –122        –1,024        15        19     

Income tax expense

     –1,322        107        –1,215                        –525        –499        –1,024        152        19           

Profit after tax

     3,441        –70        3,371            1,813        925        2,738        90        23     

Profit attributable to non-controlling interests

     1        0        1            2        0        2        –50        –50     

Profit attributable to owners of parent

     3,440        –70        3,370            1,811        925        2,736        90        23     

Key Ratios

                                                                                        

Operating margin in %

     34.3          33.0          33.1        20.8          32.0        13.5pp        1.0pp        1.1pp   

Effective tax rate in %

     27.8          26.5            22.5          27.2        5.3pp        –0.7pp     

Basic earnings per share, in €*

     2.89          2.83            1.52          2.30        90        23     

 

* Adjustments in the revenue line items are for support revenue that entities acquired by SAP would have recognized had they remained stand-alone entities but that SAP is not permitted to recognize as revenue under IFRS as a result of business combination accounting rules. Adjustments in the operating expense line items are for acquisition-related charges, share-based compensation expenses, restructuring expenses and discontinued activities.

 

** Constant currency revenue figures are calculated by translating revenue of the current period using the average exchange rates from the previous year’s respective period instead of the current period. Constant currency period-over-period changes are calculated by comparing the current year’s non-IFRS constant currency numbers with the non-IFRS number of the previous year’s respective period.

Differences may exist due to rounding.

 

F7

REVENUE BY REGION

(Preliminary and Unaudited)

The following table presents our IFRS and non-IFRS revenue by region based on customer location. The table also presents a reconciliation from our non-IFRS revenue (including our non-IFRS revenue at constant currency) to the respective most comparable IFRS revenue. Note: Our non-IFRS revenues are not prepared under a comprehensive set of accounting rules or principles.

 

     Three months ended December 31  

€ millions

    2011      2010      Change in %  
     IFRS      Adj.*      Non-
IFRS*		      Currency
impact**		      Non-IFRS
constant
currency**		      IFRS      Adj.*      Non-
IFRS*		      IFRS      Non-
IFRS*		      Non-IFRS
constant
currency**		  

Software revenue by region

                                                                                                   

EMEA

      844         0         844         7         851         724         0         724         17         17         18   

Americas

      612         0         612         10         622         553         0         553         11         11         12   

Asia Pacific Japan

      288         0         288         1         289         230         0         230         25         25         26   

Software revenue

      1,744         0         1,744         17         1,761         1,507         0         1,507         16         16         17   
                                

Software and software-related service revenue by region

                                                                                                   

Germany

      577         0         577         0         577         524         0         524         10         10         10   

Rest of EMEA

      1,260         0         1,260         9         1,269         1,122         11         1,133         12         11         12   

Total EMEA

      1,837         0         1,837         9         1,846         1,646         11         1,657         12         11         11   

United States

      895         0         895         –5         890         804         21         825         11         8         8   

Rest of Americas

      379         0         379         18         397         331         3         334         15         13         19   

Total Americas

      1,274         1         1,275         12         1,287         1,135         24         1,159         12         10         11   

Japan

      182         0         182         –13         169         133         2         135         37         35         25   

Rest of Asia Pacific Japan

      428         0         428         4         432         358         2         360         20         19         20   

Total Asia Pacific Japan

      609         0         609         –8         601         492         3         495         24         23         21   

Software and software-related service revenue

      3,720         1         3,721         13         3,734         3,273         38         3,311         14         12         13   
                                

Total revenue by region

                                                                                                   

Germany

      728         0         728         1         729         724         0         724         1         1         1   

Rest of EMEA

      1,501         0         1,501         11         1,512         1,350         11         1,361         11         10         11   

Total EMEA

      2,230         0         2,230         10         2,240         2,074         11         2,085         8         7         7   

United States

      1,108         0         1,108         –7         1,101         1,012         21         1,033         9         7         7   

Rest of Americas

      462         0         462         20         482         402         3         405         15         14         19   

Total Americas

      1,569         1         1,570         13         1,583         1,414         24         1,438         11         9         10   

Japan

      202         0         202         –14         188         153         2         155         32         30         21   

Rest of Asia Pacific Japan

      497         0         497         5         502         418         2         420         19         18         20   

Total Asia Pacific Japan

      699         0         699         –9         690         571         3         574         22         22         20   

Total revenue

      4,498         1         4,499         15         4,514         4,058         38         4,096         11         10         10   

 

F8

     Twelve months ended December 31  

€ millions

    2011      2010      Change in %  
     IFRS      Adj.*      Non-
IFRS*		      Currency
impact**		      Non-IFRS
constant
currency**		      IFRS      Adj.*      Non-
IFRS*		      IFRS      Non-
IFRS*		      Non-IFRS
constant
currency**		  

Software revenue by region

                                                                                                   

EMEA

      1,773         0         1,773         14         1,787         1,471         0         1,471         21         21         21   

Americas

      1,482         0         1,482         75         1,557         1,247         0         1,247         19         19         25   

Asia Pacific Japan

      714         0         714         8         722         547         0         547         31         31         32   

Software revenue

      3,970         0         3,970         96         4,066         3,265         0         3,265         22         22         25   
                                

Software and software-related service revenue by region

                                                                                                   

Germany

      1,725         0         1,725         0         1,725         1,564         0         1,564         10         10         10   

Rest of EMEA

      3,804         8         3,812         –5         3,807         3,319         20         3,339         15         14         14   

Total EMEA

      5,528         8         5,536         –4         5,532         4,883         20         4,903         13         13         13   

United States

      2,870         15         2,885         146         3,031         2,497         42         2,539         15         14         19   

Rest of Americas

      1,088         2         1,090         31         1,121         930         5         935         17         17         20   

Total Americas

      3,958         17         3,975         178         4,153         3,427         47         3,474         15         14         20   

Japan

      579         1         580         –24         556         448         3         451         29         29         23   

Rest of Asia Pacific Japan

      1,253         1         1,254         4         1,258         1,036         4         1,040         21         21         21   

Total Asia Pacific Japan

      1,832         2         1,834         –21         1,813         1,484         7         1,491         23         23         22   

Software and software-related service revenue

      11,318         27         11,345         153         11,498         9,794         74         9,868         16         15         17   
                                

Total revenue by region

                                                                                                   

Germany

      2,346         0         2,346         0         2,346         2,195         0         2,195         7         7         7   

Rest of EMEA

      4,644         8         4,652         –5         4,647         4,068         20         4,089         14         14         14   

Total EMEA

      6,990         8         6,998         –6         6,992         6,263         20         6,283         12         11         11   

United States

      3,699         15         3,714         189         3,903         3,243         42         3,286         14         13         19   

Rest of Americas

      1,392         2         1,394         37         1,431         1,192         5         1,197         17         16         20   

Total Americas

      5,091         17         5,108         226         5,334         4,435         47         4,482         15         14         19   

Japan

      652         1         653         –28         625         513         3         516         27         27         21   

Rest of Asia Pacific Japan

      1,499         1         1,500         2         1,502         1,253         4         1,256         20         19         20   

Total Asia Pacific Japan

      2,151         2         2,153         –25         2,128         1,766         7         1,772         22         22         20   

Total revenue

      14,232         27         14,259         196         14,455         12,464         74         12,538         14         14         15   

 

F9

NEW INCOME STATEMENTS FORMAT – CONSOLIDATED INCOME STATEMENT

for the twelve months ended December 31

(Preliminary and Unaudited)

 

€ millions, unless
otherwise stated

    2011      2010      Change
in %		  

Software

      4,106         3,410         20   

Support

      7,194         6,370         13   

Cloud subscriptions and -support

      18         14         29   

Software and software-related service revenue

      11,318         9,794         16   

Consulting

      2,341         2,197         7   

Other services

      573         473         21   

Professional services and other service revenue

      2,914         2,670         9   

Total revenue

      14,232         12,464         14   

Cost of software and software-related services

      –2,111         –1,823         16   

Cost of professional services and other services

      –2,232         –2,071         8   

Total cost of revenue

      –4,343         –3,894         12   

Gross profit

      9,889         8,570         15   

Research and development

      –1,939         –1,729         12   

Sales and marketing

      –3,080         –2,645         16   

General and administration

      –718         –636         13   

Restructuring

      –4         3         <-100   

TomorrowNow litigation

      717         –981         <-100   

Other operating income/expense, net

      14         9         56   

Total operating expenses

      –9,353         –9,873         –5   

Operating profit

      4,879         2,591         88   

Other non-operating income/expense, net

      –79         –186         –58   

Finance income

      123         73         68   

Finance costs TomorrowNow litigation

      8         –12         <-100   

Other finance costs

      –168         –128         31   

Finance costs

      –160         –140         14   

Financial income, net

      –37         –67         –45   

Profit before tax

      4,763         2,338         104   

Income tax TomorrowNow litigation

      –281         377         <-100   

Other income tax expense

      –1,041         –902         15   

Income tax expense

      –1,322         –525         152   

Profit after tax

      3,441         1,813         90   

Profit attributable to non-controlling interests

      1         2         –50   

Profit attributable to owners of parent

      3,440         1,811         90   
        

Basic earnings per share, in €*

      2.89         1.52         90   

Diluted earnings per share, in €*

      2.89         1.52         90   

 

F10

NEW INCOME STATEMENTS FORMAT – RECONCILIATIONS FROM NON-IFRS NUMBERS TO IFRS NUMBERS (NEW)

(Preliminary and Unaudited)

 

    Twelve months ended December 31  

€ millions, unless
otherwise stated

   2011     2010     Change in %  
    IFRS     Adj.*     Non-
IFRS*		     Currency
impact**		     Non-IFRS
constant
currency**		     IFRS     Adj.*     Non-
IFRS*		     IFRS     Non-
IFRS*		     Non-IFRS
constant
currency**		  

Revenue Numbers

                                                                                        

Software

     4,106        0        4,106        96        4,202        3,410        0        3,410        20        20        23   

Support

     7,194        27        7,221        57        7,278        6,370        74        6,444        13        12        13   

Cloud subscriptions and -support

     18        0        18        0        18        14        0        14        29        29        29   

Software and software-related service revenue

     11,318        27        11,345        153        11,498        9,794        74        9,868        16        15        17   

Consulting

     2,341        0        2,341        35        2,376        2,197        0        2,197        7        7        8   

Other services

     573        0        573        8        581        473        0        473        21        21        23   

Professional services and other service revenue

     2,914        0        2,914        43        2,957        2,670        0        2,670        9        9        11   

Total revenue

     14,232        27        14,259        196        14,455        12,464        74        12,538        14        14        15   

Operating Expense Numbers

                                                                                        

Cost of software and software-related services

     –2,111        285        –1,826            –1,823        202        –1,621        16        13     

Cost of professional services and other services

     –2,232        33        –2,199            –2,071        18        –2,053        8        7     

Total cost of revenue

     –4,343        318        –4,025            –3,894        220        –3,674        12        10     

Gross profit

     9,889        345        10,234            8,570        294        8,864        15        15     

Research and development

     –1,939        41        –1,898            –1,729        23        –1,706        12        11     

Sales and marketing

     –3,080        127        –2,953            –2,645        95        –2,550        16        16     

General and administration

     –718        31        –687            –636        26        –610        13        13     

Restructuring

     –4        4        0            3        –3        0        <-100        0     

TomorrowNow litigation

     717        –717        0            –981        981        0        <-100        0     

Other operating income/expense, net

     14        0        14                        9        0        9        56        56           

Total operating expenses

     –9,353        –196        –9,549        –128        –9,677        –9,873        1,342        –8,531        –5        12        13   

Profit Numbers

                                                                                        

Operating profit

     4,879        –169        4,710        68        4,778        2,591        1,416        4,007        88        18        19   

Other non-operating income/expense, net

     –79        0        –79            –186        –4        –190        –58        –58     

Finance income

     123        0        123            73        0        73        68        68     

Finance costs TomorrowNow litigation

     8        –8        0            –12        12        0        <-100        0     

Other finance costs

     –168        0        –168            –128        0        –128        31        31     

Finance costs

     –160        –8        –168                        –140        12        –128        14        31           

Financial income, net

     –37        –8        –45                        –67        12        –55        –45        –18           

Profit before tax

     4,763        –177        4,586            2,338        1,424        3,762        104        22     

Income tax TomorrowNow litigation

     –281        281        0            377        –377        0        <-100        0     

Other income tax expense

     –1,041        –174        –1,215            –902        –122        –1,024        15        19     

Income tax expense

     –1,322        107        –1,215                        –525        –499        –1,024        152        19           

Profit after tax

     3,441        –70        3,371            1,813        925        2,738        90        23     

Profit attributable to non-controlling interests

     1        0        1            2        0        2        –50        –50     

Profit attributable to owners of parent

     3,440        –70        3,370            1,811        925        2,736        90        23     

Key Ratios

                                                                                        

Operating margin in %

     34.3          33.0          33.1        20.8          32.0        13.5pp        1.0pp        1.1pp   

Effective tax rate in %

     27.8          26.5            22.5          27.2        5.3pp        –0.7pp     

Basic earnings per share, in €*

     2.89          2.83            1.52          2.30        90        23     

 

* Adjustments in the revenue line items are for support revenue that entities acquired by SAP would have recognized had they remained stand-alone entities but that SAP is not permitted to recognize as revenue under IFRS as a result of business combination accounting rules. See Explanations of Non-IFRS Measures for details.

 

F11

** Constant currency revenue figures are calculated by translating revenue of the current period using the average exchange rates from the previous year’s respective period instead of the current period. Constant currency period-over-period changes are calculated by comparing the current year’s non-IFRS constant currency numbers with the non-IFRS number of the previous year’s respective period.

Differences may exist due to rounding.

For a more detailed description of these adjustments and their limitations as well as our constant currency and free cash flow figures see Explanations of Non-IFRS Measures online (www.sap.com/about/investor/index.epx).

 

F12