SAP SE (SAP) has announced a profit after tax of 1.6 billion euros from continuing operations for the fourth quarter, reflecting a 35% increase compared to the previous year. Basic earnings per share, specific to continuing operations, rose to 1.37 euros from 1.05 euros. The company's non-IFRS operating profit experienced a 24% increase, reaching 2.44 billion euros, consistent when adjusted for currency fluctuations. Non-IFRS basic earnings per share from continuing operations improved to 1.40 euros from 1.12 euros. Total revenue for the fourth quarter climbed to 9.38 billion euros, marking an 11% rise year-over-year. Notably, cloud revenue saw a 27% uptick, amounting to 4.71 billion euros, maintaining the same increase when adjusted for constant currencies. Non-IFRS total revenue also reported an 11% increase, or 10% at constant currencies. During the quarter, there was a 32% growth in the current cloud backlog, totaling 18.08 billion euros, with a 29% increase when adjusted for constant currencies.
For the full year 2024, SAP's non-IFRS operating profit rose by 25% to 8.15 billion euros, with a 26% increase when adjusted for constant currencies. Non-IFRS basic earnings per share reached 4.53 euros, marking a 22% increase. By the end of December, the total cloud backlog had grown by 43% to 63.29 billion euros, reflecting a 40% increase at constant currencies.
Looking ahead to 2025, SAP anticipates cloud revenue of 21.6 to 21.9 billion euros at constant currencies, representing a 26% to 28% increase. Cloud and software revenue is projected to be between 33.1 to 33.6 billion euros at constant currencies, an 11% to 13% rise. The non-IFRS operating profit is expected to increase by 26% to 30% at constant currencies, reaching between 10.3 to 10.6 billion euros. The company does foresee a slight deceleration in the growth rate of the current cloud backlog in 2025.
