2023-04-21 01:07:02 ET
- SAP SE press release ( NYSE: SAP ): Q1 GAAP EPS of €0.35 misses by €0.77 .
- Revenue of €7.44B (+9.9% Y/Y) beats by €50M .
- Cloud revenue up 24% and up 22% at constant currencies, up 1 percentage point sequentially. S/4HANA cloud revenue up 77% and up 75% at constant currencies.
- Current cloud backlog up 25%, both at nominal and constant currencies, a sequential growth improvement of 1 percentage point.
- IFRS cloud gross profit up 28%, non-IFRS cloud gross profit up 28% and up 27 % at constant currencies fueling double-digit non-IFRS operating profit growth
- IFRS operating profit down 45%, non-IFRS operating profit up 12% and up 12% at constant currencies
- 2023 outlook updated to reflect the expected Qualtrics divestiture. SAP reaffirms outlook for continuing operations including anticipated acceleration of topline and operating profit growth.
- €14.0 – 14.4 billion cloud revenue at constant currencies (2022: €11.43 billion), up 23% to 26% at constant currencies.
- €26.9 – 27.4 billion cloud and software revenue at constant currencies (2022: €25.39 billion), up 6% to 8% at constant currencies.
- €8.6 – 8.9 billion non-IFRS operating profit at constant currencies (2022: €7.99 billion), up 8% to 11% at constant currencies.
- Free cash flow of approximately €4.9 billion.
- A full-year effective tax rate (IFRS) of 28.0% to 32.0% (2022: 32.0%) and an effective tax rate (non-IFRS) of 26.0% to 28.0% (2022: 29.6%).
For further details see:
SAP SE reports mixed Q1 earnings; updates FY23 outlook