Double-Digit Growth Continues in a Challenging Market - SAP Driving the Transition to the Cloud and Gaining Market Share
SAP Announces Second Quarter and First Half Results 2013
WALLDORF, Germany, July 18, 2013 /PRNewswire/ --
- Three Years of Double-Digit Growth – Second Quarter 2013 Non-IFRS Software and Software-Related Service Revenue Increased 10% at Constant Currencies (7% at Actual Currencies to €3.35 Billion)
- Second Quarter 2013 Non-IFRS Software and Cloud Subscription Revenue Increased 7% at Constant Currencies (3% at Actual Currencies to €1.17 Billion)
- Triple-Digit Year-Over-Year Growth in Cloud Subscription and Support Revenue, Annual Cloud Revenue Run Rate Exceeded €930 Million
- Expanding Leadership in In-Memory Computing with SAP HANA
- Second Quarter 2013 Non-IFRS Operating Profit Reached €1.22 Billion, a 10% Increase at Constant Currencies (4% at Actual Currencies)
- SAP Reaffirms Non-IFRS Operating Profit Outlook and Remains Committed to Be a Double-Digit Growth Company with an Increase of at Least 10% in Non-IFRS Software and Software-Related Service Revenue at Constant Currencies in 2013
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SAP AG (NYSE: SAP) today announced its financial results for the second quarter and first half ended June 30, 2013.
BUSINESS HIGHLIGHTS IN THE SECOND QUARTER 2013
"The industry transformation we predicted back in 2010 is now happening at full speed and our strategy of innovation for growth is paying off," said Bill McDermott and Jim Hagemann Snabe, Co-CEOs of SAP. "We continued our double-digit growth momentum, we are leading the transformation of the industry, and our market opportunity is bigger than ever. We are gaining market share in a challenging macroeconomic environment, and with the HANA Enterprise Cloud, we are resolute to capture the future as the cloud company."
"SAP had a solid overall performance in the second quarter. We remained focused on operating discipline, resulting in double-digit growth in non-IFRS operating profit at constant currencies. We improved the profitability of our core business and see good traction in the cloud on our way towards building a profitable cloud business," said Werner Brandt, CFO of SAP. "We reaffirm our full year 2013 Non-IFRS operating profit outlook and remain committed to double-digit topline growth despite a difficult macroeconomic environment, in particular in Asia Pacific Japan and the rapid transition to the cloud."
Second quarter non-IFRS cloud subscription and support revenue increased 166% (171% at constant currencies) year-over-year to €183 million. SAP's non-IFRS cloud subscription and support revenue in the second quarter outperformed many cloud competitors on a sequential quarterly growth basis. The annual cloud revenue run rate has now reached €932 million[1]. With approximately 30 million cloud users, SAP has the largest subscriber base in the cloud market. Non-IFRS deferred cloud subscription and support revenue[2] was €361 million as of June 30, 2013, a year-over-year increase of 68%. The Ariba business is showing accelerated synergies. For the Ariba segment the trailing twelve month network spend volume[3] was approximately $465 billion, an increase of 27% year-over-year. More than 1.1 million companies are connected through the Ariba network, the world's largest Web-based business trading community.
SAP HANA, the Company's platform for real-time business applications, continues to be a major growth engine with €102 million software revenue contribution, growing 21% year-on-year. The Company continues to expect HANA software revenue of €650 - €700 million in 2013. Customers have already shown strong interest in SAP Business Suite powered by SAP HANA which was made generally available in May and -- together with HANA Enterprise Cloud -- is expected to drive adoption of the HANA platform.
SAP's double-digit growth momentum continued in the second quarter with Non-IFRS software and software-related service revenue increasing 10% at constant currencies (7% at actual currencies to €3.35 billion). Non-IFRS software and cloud subscription revenue in the quarter increased 7% at constant currencies (3% at actual currencies to €1.17 billion). Non-IFRS operating profit reached €1.22 billion in the quarter, a 10% increase at constant currencies (4% at actual currencies), resulting in a 60 basis points expansion of the non-IFRS operating margin at constant currencies despite a negative effect from the Ariba acquisition of 40 basis points. The margin performance demonstrates that the efficiency in SAP's core business has further improved.
Regional Performance
Second Quarter 2013
The Americas region delivered a strong second quarter in non-IFRS software and cloud subscription revenue[4] with 18% growth year-over-year, driven by excellent software revenue performance in Latin America -- in particular Brazil -- and strong cloud subscription and support revenue growth in North America. The EMEA region saw solid growth with non-IFRS software and cloud subscription revenue increasing 3% year-over-year, despite a continued difficult market environment and a tough year-over-year comparison. High single-digit software revenue growth in Germany contributed to this performance. Non-IFRS software and cloud subscription revenue in the Asia Pacific Japan (APJ) region declined 7%, mainly due to continued macroeconomic challenges. However, some markets in APJ, such as Southeast Asia and India, saw strong growth in software revenue.
First Half 2013
The Americas region delivered a strong first half in non-IFRS software and cloud subscription revenue with 29% growth year-over-year, driven by a very strong performance in the United States and Brazil. The EMEA region saw solid growth with non-IFRS software and cloud subscription revenue increasing 8% for the first half of 2013 which is an impressive result in light of continued market uncertainty. Non-IFRS software and cloud subscriptions revenue in the APJ region declined 7% in the first half of 2013.
[1] The annual revenue run rate is the second quarter 2013 cloud division revenue of €233 million multiplied by 4.
[2] Beginning in Q1 2013, SAP discloses non-IFRS deferred cloud subscription and support revenue, which is a subset of the total, non-IFRS deferred revenue number reported on the balance sheet.
[3] Network spend volume is the total value of purchase orders transacted on the Ariba Network in the trailing 12 months.
[4] Non-IFRS software and cloud subscription revenue in the regional paragraphs follow SAP's management view, which is calculated as the combination of software revenue based on location of negotiation and cloud subscription and support revenue based on customer location; growth rates at constant currencies. See SAP's second quarter and half year interim report for details.
FINANCIAL RESULTS IN DETAIL
FINANCIAL HIGHLIGHTS – Second Quarter 2013
| Second Quarter 20131) |
|||||||
| IFRS |
Non- |
||||||
| € million, unless otherwise stated |
Q2 2013 |
Q2 2012 |
% |
Q2 2013 |
Q2 2012 |
% |
% change |
| Software |
982 |
1,059 |
−7 |
982 |
1,059 |
−7 |
−3 |
| Cloud subscriptions and support |
159 |
52 |
206 |
183 |
69 |
166 |
171 |
| Software and cloud subscriptions |
1,141 |
1,110 |
3 |
1,165 |
1,127 |
3 |
7 |
| Support |
2,177 |
2,013 |
8 |
2,182 |
2,014 |
8 |
11 |
| Software and software-related service revenue |
3,318 |
3,124 |
6 |
3,347 |
3,142 |
7 |
10 |
| Total revenue |
4,062 |
3,898 |
4 |
4,091 |
3,916 |
4 |
8 |
| Total operating expenses |
−3,074 |
−2,977 |
3 |
−2,873 |
−2,743 |
5 |
7 |
| Operating profit |
988 |
921 |
7 |
1,219 |
1,173 |
4 |
10 |
| Operating margin (%) |
24.3 |
23.6 |
0.7pp |
29.8 |
30.0 |
−0.2pp |
0.6pp |
| Profit after tax |
724 |
661 |
10 |
874 |
831 |
5 |
|
| Basic earnings per share (€) |
0.61 |
0.55 |
11 |
0.73 |
0.70 |
4 |
|
| Number of employees (FTE) |
64,937 |
60,972 |
7 |
N/A |
N/A |
N/A |
N/A |
| 1) All figures are unaudited. |
|||||||
| 2) For a detailed description of SAP's non-IFRS measures see Explanation of Non-IFRS Measures online. For a breakdown of the individual adjustments see page F8 in the appendix to this press release. |
|||||||
IFRS and non-IFRS software revenue was €982 million (2012: €1.06 billion), a decrease of 7% (3% at constant currencies). IFRS software and cloud subscription revenue was €1.14 billion (2012: €1.11 billion), an increase of 3%. Non-IFRS software and cloud subscription revenue was €1.17 billion (2012: €1.13 billion), an increase of 3% (7% at constant currencies). IFRS software and software-related service revenue was €3.32 billion (2012: €3.12 billion), an increase of 6%. Non-IFRS software and software-related service revenue was €3.35 billion (2012: €3.14 billion), an increase of 7% (10% at constant currencies). IFRS total revenue was €4.06 billion (2012: €3.90 billion), an increase of 4%. Non-IFRS total revenue was €4.09 billion (2012: €3.92 billion), an increase of 4% (8% at constant currencies).
IFRS operating profit was €988 million (2012: €921 million), an increase of 7%. Non-IFRS operating profit was €1.22 billion (2012: €1.17 billion), an increase of 4% (10% at constant currencies). IFRS operating margin was 24.3% (2012: 23.6%), an increase of 0.7 percentage points. Non-IFRS operating margin was 29.8% (2012: 30.0%), a decrease of 0.2 percentage points. Non-IFRS operating margin was 30.6% at constant currencies, an increase of 0.6 percentage points. Non-IFRS operating profit and operating margin for the second quarter 2013 were affected by the acquisition of Ariba, which impacted the operating margin by approximately 40 basis points.
IFRS profit after tax was €724 million (2012: €661 million), an increase of 10%. Non-IFRS profit after tax was €874 million (2012: €831 million), an increase of 5%. IFRS basic earnings per share was €0.61 (2012: €0.55), an increase of 11%. Non-IFRS basic earnings per share was €0.73 (2012: €0.70), an increase of 4%. The IFRS and non-IFRS effective tax rates were 24.8% (2012: 23.6%) and 26.8% (2012: 25.6%), respectively.
FINANCIAL HIGHLIGHTS – First Half 2013
| First-Half 20131) |
|||||||
| IFRS |
Non-IFRS2) |
||||||
| € million, unless otherwise stated |
1H 2013 |
1H 2012 |
% |
1H 2013 |
1H 2012 |
% |
% change |
| Software |
1,638 |
1,696 |
−3 |
1,638 |
1,696 |
−3 |
0 |
| Cloud subscriptions and support |
296 |
81 |
266 |
350 |
104 |
238 |
243 |
| Software and cloud subscriptions |
1,935 |
1,777 |
9 |
1,989 |
1,799 |
11 |
14 |
| Support |
4,286 |
3,966 |
8 |
4,295 |
3,968 |
8 |
11 |
| Software and software-related service revenue |
6,220 |
5,743 |
8 |
6,284 |
5,768 |
9 |
12 |
| Total revenue |
7,663 |
7,248 |
6 |
7,727 |
7,273 |
6 |
9 |
| Total operating expenses |
−6,029 |
−5,696 |
6 |
-5,607 |
-5,266 |
6 |
8 |
| Operating profit |
1,634 |
1,551 |
5 |
2,120 |
2,007 |
6 |
11 |
| Operating margin (%) |
21.3 |
21.4 |
−0.1pp |
27.4 |
27.6 |
−0.2pp |
0.4pp |
| Profit after tax |
1,244 |
1,104 |
13 |
1,563 |
1,414 |
11 |
|
| Basic earnings per share (€) |
1.04 |
0.93 |
12 |
1.31 |
1.19 |
10 |
|
| Number of employees (FTE) |
64,937 |
60,972 |
7 |
N/A |
N/A |
N/A |
N/A |
| 1) All figures are unaudited. |
|||||||
| 2) For a detailed description of SAP's non-IFRS measures see Explanation of Non-IFRS Measures online. For a breakdown of the individual adjustments see page F8 in the appendix to this press release. |
|||||||
IFRS and non-IFRS software revenue was €1.64 billion (2012: €1.70 billion), a decrease of 3%, (flat at constant currencies). IFRS software and cloud subscription revenue was €1.94 billion (2012: €1.78 billion), an increase of 9%. Non-IFRS software and cloud subscription revenue was €1.99 billion (2012: €1.80 billion), an increase of 11% (14% at constant currencies). IFRS software and software-related service revenue was €6.22 billion (2012: €5.74 billion), an increase of 8%. Non-IFRS software and software-related service revenue was €6.28 billion (2012: €5.77 billion), an increase of 9% (12% at constant currencies). IFRS total revenue was €7.66 billion (2012: €7.25 billion), an increase of 6%. Non-IFRS total revenue was €7.73 billion (2012: €7.27 billion), an increase of 6% (9% at constant currencies).
IFRS operating profit was €1.63 billion (2012: €1.55 billion), an increase of 5%. Non-IFRS operating profit was €2.12 billion (2012: €2.01 billion), an increase of 6% (11% at constant currencies). IFRS operating margin was 21.3% (2012: 21.4%), a decrease of 0.1 percentage points. Non-IFRS operating margin was 27.4% (2012: 27.6%), a decrease of 0.2 percentage points. Non-IFRS operating margin was 28.0% at constant currencies, an increase of 0.4 percentage points.
IFRS profit after tax was €1.24 billion (2012: €1.10 billion), an increase of 13%. Non-IFRS profit after tax was €1.56 billion (2012: €1.41 billion), an increase of 11%. IFRS basic earnings per share was €1.04 (2012: €0.93), an increase of 12%. Non-IFRS basic earnings per share was €1.31 (2012: €1.19), an increase of 10%. The IFRS and non-IFRS effective tax rates were 21.5% (2012: 25.0%) and 24.5% (2012: 26.7%), respectively.
Operating cash flow was €2.48 billion (2012: €2.40 billion), an increase of 3%. Free cash flow was €2.22 billion (2012: €2.13 billion), an increase of 4%. Free cash flow was 29% of total revenue (2012: 29%). At June 30, 2013, SAP had a total group liquidity of €3.53 billion (December 31, 2012: €2.49 billion), which includes cash and cash equivalents and short term investments. Net liquidity at June 30, 2013 was -€1.49 billion compared to -€2.50 billion at December 31, 2012.
BUSINESS OUTLOOK
SAP reaffirms its full year 2013 non-IFRS operating profit outlook to be in a range of €5.85 billion - €5.95 billion at constant currencies (2012: €5.21 billion). Although the difficult macroeconomic environment in particular in Asia Pacific Japan and the rapid transition to the cloud have resulted in lower software revenue expectations, SAP remains committed to be a double-digit growth company with at least 10% growth in non-IFRS software and software-related service revenue at constant currencies in full year 2013 (2012: €13.25 billion). This replaces the previous growth outlook for non-IFRS software and software-related service revenue of 11% -13% at constant currencies and the underlying guidance for software and cloud subscription revenue.
In addition, SAP reaffirms its outlook for the fast-growing innovation categories cloud and in-memory. The company continues to expect full year 2013 non-IFRS cloud subscription and support revenue of around €750 million at constant currencies (2012: €343 million) and full year 2013 SAP HANA software revenue in a range of €650 - €700 million (2012: €392 million).
Additional Information
2013 revenue and profit figures include the revenue and profits from Ariba and SuccessFactors. The comparative numbers for 2012 do not include SuccessFactors until February 21, 2012 and Ariba until October 1, 2012.
For a more detailed description of all of SAP's non-IFRS measures and their limitations as well as our constant currency and free cash flow figures see Explanation of Non-IFRS Measures online.
Second Quarter 2013 Interim Report
SAP's second quarter 2013 Interim Report was published today and is available for download at www.sap.com/investor. The interim report includes an update on SAP's sustainability performance.
Webcast
SAP senior management will host a conference call for financial analysts and media on Thursday, July 18th at 2:00 PM (CEST) / 1:00 PM (GMT) / 8:00 AM (EDT) / 5:00 AM (PDT). The conference call will be web cast live on the Company's website at www.sap.com/investor and will be available for replay.
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 248,500 customers to operate profitably, adapt continuously, and grow sustainably. For more information, visit www.sap.com.
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.
© 2013 SAP AG. All rights reserved.
No part of this publication may be reproduced or transmitted in any form or for any purpose without the express permission of SAP AG. The information contained herein may be changed without prior notice.
Some software products marketed by SAP AG and its distributors contain proprietary software components of other software vendors. National product specifications may vary.
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
| FINANCIAL INFORMATION |
|
| FOR THE SECOND QUARTER 2013 |
|
| (Condensed and Unaudited) |
|
| Page |
|
| Financial Statements (IFRS) |
|
| Income Statements – Quarter |
F1 |
| Income Statements – Six Months |
F2 |
| Statements of Financial Position |
F3-F4 |
| Statements of Cash Flows |
F5 |
| Supplementary Financial Information |
|
| Reconciliation from Non-IFRS Numbers to IFRS Numbers |
F6-F7 |
| Non-IFRS Adjustments |
F8 |
| Revenue by Region |
F9-F12 |
| Financial Statements (IFRS) CONSOLIDATED INCOME STATEMENTS For the three months ended June 30 |
||||
| € millions, unless otherwise stated |
Note |
2013 |
2012 |
Change in % |
| Software |
982 |
1,059 |
-7 |
|
| Cloud subscriptions and support |
159 |
52 |
206 |
|
| Software and cloud subscriptions |
1,141 |
1,110 |
3 |
|
| Support |
2,177 |
2,013 |
8 |
|
| Software and software-related service revenue |
3,318 |
3,124 |
6 |
|
| Consulting |
580 |
617 |
-6 |
|
| Other services |
165 |
157 |
5 |
|
| Professional services and other service revenue |
744 |
774 |
-4 |
|
| Total revenue |
4,062 |
3,898 |
4 |
|
| Cost of software and software-related services |
-598 |
-568 |
5 |
|
| Cost of professional services and other services |
-609 |
-644 |
-5 |
|
| Total cost of revenue |
-1,207 |
-1,212 |
0 |
|
| Gross profit |
2,855 |
2,686 |
6 |
|
| Research and development |
-567 |
-568 |
0 |
|
| Sales and marketing |
-1,059 |
-972 |
9 |
|
| General and administration |
-232 |
-222 |
5 |
|
| Restructuring |
-17 |
-4 |
<-100 |
|
| TomorrowNow litigation |
0 |
-2 |
<-100 |
|
| Other operating income/expense, net |
9 |
3 |
>100 |
|
| Total operating expenses |
-3,074 |
-2,977 |
3 |
|
| Operating profit |
988 |
921 |
7 |
|
| Other non-operating income/expense, net |
-2 |
-45 |
-95 |
|
| Finance income |
26 |
28 |
-6 |
|
| Finance costs |
-49 |
-39 |
27 |
|
| Financial income, net |
-23 |
-11 |
<-100 |
|
| Profit before tax |
963 |
865 |
11 |
|
| Income tax expense |
(6) |
-239 |
-204 |
17 |
| Profit after tax |
724 |
661 |
10 |
|
| Profit attributable to non-controlling interests |
0 |
0 |
N/A |
|
| Profit attributable to owners of parent |
725 |
661 |
10 |
|
| Earnings per share – basic (in €)* |
(7) |
0.61 |
0.55 |
11 |
| Earnings per share – diluted (in €)* |
(7) |
0.61 |
0.55 |
11 |
| * For the three months ended June 30, 2013 and 2012, the weighted average number of shares was 1,193 million (diluted 1,195 million) and 1,191 million (diluted: 1,192 million), respectively (treasury stock excluded). |
||||
| F1 |
||||
| CONSOLIDATED INCOME STATEMENTS For the six months ended June 30 |
||||
| € millions, unless otherwise stated |
Note |
2013 |
2012 |
Change in % |
| Software |
1,638 |
1,696 |
-3 |
|
| Cloud subscriptions and support |
296 |
81 |
266 |
|
| Software and cloud subscriptions |
1,935 |
1,777 |
9 |
|
| Support |
4,286 |
3,966 |
8 |
|
| Software and software-related service revenue |
6,220 |
5,743 |
8 |
|
| Consulting |
1,136 |
1,214 |
-6 |
|
| Other services |
306 |
291 |
5 |
|
| Professional services and other service revenue |
1,443 |
1,505 |
-4 |
|
| Total revenue |
7,663 |
7,248 |
6 |
|
| Cost of software and software-related services |
-1,202 |
-1,106 |
9 |
|
| Cost of professional services and other services |
-1,215 |
-1,268 |
-4 |
|
| Total cost of revenue |
-2,416 |
-2,374 |
2 |
|
| Gross profit |
5,246 |
4,874 |
8 |
|
| Research and development |
-1,124 |
-1,091 |
3 |
|
| Sales and marketing |
-2,034 |
-1,802 |
13 |
|
| General and administration |
-429 |
-431 |
-1 |
|
| Restructuring |
-31 |
-4 |
<-100 |
|
| TomorrowNow litigation |
0 |
5 |
-92 |
|
| Other operating income/expense, net |
5 |
1 |
>100 |
|
| Total operating expenses |
-6,029 |
-5,696 |
6 |
|
| Operating profit |
1,634 |
1,551 |
5 |
|
| Other non-operating income/expense, net |
-13 |
-53 |
-76 |
|
| Finance income |
56 |
52 |
8 |
|
| Finance costs |
-93 |
-78 |
19 |
|
| Financial income, net |
-37 |
-26 |
41 |
|
| Profit before tax |
1,584 |
1,472 |
8 |
|
| Income tax expense |
(6) |
-340 |
-368 |
-8 |
| Profit after tax |
1,244 |
1,104 |
13 |
|
| Profit attributable to non-controlling interests |
0 |
0 |
N/A |
|
| Profit attributable to owners of parent |
1,245 |
1,104 |
13 |
|
| Earnings per share – basic (in €)* |
(7) |
1.04 |
0.93 |
12 |
| Earnings per share – diluted (in €)* |
(7) |
1.04 |
0.93 |
12 |
| * For the six months ended June 30, 2013 and 2012, the weighted average number of shares was 1,193 million (diluted 1,195 million) and 1,191 million (diluted: 1,191 million), respectively (treasury stock excluded). |
||||
| Due to rounding, numbers may not add up precisely. |
||||
| F2 |
||||
| Consolidated Statements of Financial Position As at June 30, 2013, and December 31, 2012 |
|||
| € millions |
Notes |
2013 |
2012 |
| Cash and cash equivalents |
3,386 |
2,477 |
|
| Other financial assets |
(8) |
296 |
154 |
| Trade and other receivables |
(9) |
3,379 |
3,917 |
| Other non-financial assets |
408 |
294 |
|
| Tax assets |
308 |
156 |
|
| Total current assets |
7,776 |
6,998 |
|
| Goodwill |
13,333 |
13,227 |
|
| Intangible assets |
2,996 |
3,234 |
|
| Property, plant, and equipment |
1,751 |
1,708 |
|
| Other financial assets |
(8) |
495 |
509 |
| Trade and other receivables |
(9) |
92 |
88 |
| Other non-financial assets |
97 |
68 |
|
| Tax assets |
192 |
170 |
|
| Deferred tax assets |
761 |
708 |
|
| Total non-current assets |
19,717 |
19,711 |
|
| Total assets |
27,494 |
26,710 |
|
| F3 |
|||
| € millions |
Notes |
2013 |
2012 |
| Trade and other payables |
883 |
870 |
|
| Tax liabilities |
395 |
511 |
|
| Financial liabilities |
(10) |
1,365 |
802 |
| Other non-financial liabilities |
1,404 |
2,136 |
|
| Provision TomorrowNow litigation |
235 |
234 |
|
| Other provisions |
390 |
609 |
|
| Provisions |
624 |
843 |
|
| Deferred income |
(11) |
3,125 |
1,386 |
| Total current liabilities |
7,797 |
6,547 |
|
| Trade and other payables |
47 |
63 |
|
| Tax liabilities |
396 |
388 |
|
| Financial liabilities |
(10) |
3,859 |
4,446 |
| Other non-financial liabilities |
107 |
98 |
|
| Provisions |
330 |
361 |
|
| Deferred tax liabilities |
518 |
574 |
|
| Deferred income |
(11) |
62 |
62 |
| Total non-current liabilities |
5,319 |
5,991 |
|
| Total liabilities |
13,116 |
12,538 |
|
| Issued capital |
1,229 |
1,229 |
|
| Share premium |
521 |
492 |
|
| Retained earnings |
14,212 |
13,973 |
|
| Other components of equity |
-263 |
-194 |
|
| Treasury shares |
-1,330 |
-1,337 |
|
| Equity attributable to owners of parent |
14,369 |
14,163 |
|
| Non-controlling interests |
9 |
8 |
|
| Total equity |
(12) |
14,378 |
14,171 |
| Equity and liabilities |
27,494 |
26,710 |
|
| F4 |
| CONSOLIDATED STATEMENTS OF CASH FLOWS For the six months ended June 30 |
||
| € millions |
2013 |
2012 |
| Profit after tax |
1,244 |
1,104 |
| Adjustments to reconcile profit after taxes to net cash provided by operating activities: |
||
| Depreciation and amortization |
478 |
402 |
| Income tax expense |
340 |
368 |
| Financial income, net |
37 |
26 |
| Decrease/increase in sales and bad debt allowances on trade receivables |
38 |
26 |
| Other adjustments for non-cash items |
44 |
24 |
| Decrease/increase in trade and other receivables |
470 |
362 |
| Decrease/increase in other assets |
-129 |
-134 |
| Decrease/increase in trade payables, provisions, and other liabilities |
-945 |
-752 |
| Decrease/increase in deferred income |
1,735 |
1,629 |
| Cash outflows due to TomorrowNow litigation |
-1 |
-4 |
| Interest paid |
-80 |
-96 |
| Interest received |
33 |
47 |
| Income taxes paid, net of refunds |
-782 |
-602 |
| Net cash flows from operating activities |
2,482 |
2,400 |
| Business combinations, net of cash and cash equivalents acquired |
-99 |
-2,757 |
| Purchase of intangible assets and property, plant, and equipment |
-265 |
-275 |
| Proceeds from sales of intangible assets or property, plant, and equipment |
23 |
22 |
| Purchase of equity or debt instruments of other entities |
-1,200 |
-558 |
| Proceeds from sales of equity or debt instruments of other entities |
1,079 |
941 |
| Net cash flows from investing activities |
-462 |
-2,627 |
| Dividends paid |
-1,013 |
-1,310 |
| Purchase of treasury shares |
0 |
-53 |
| Proceeds from reissuance of treasury shares |
9 |
69 |
| Proceeds from issuing shares (share-based payments) |
0 |
14 |
| Proceeds from borrowings |
0 |
1,002 |
| Repayments of borrowings |
0 |
-1,023 |
| Net cash flows from financing activities |
-1,004 |
-1,301 |
| Effect of foreign exchange rates on cash and cash equivalents |
-107 |
-61 |
| Net decrease/increase in cash and cash equivalents |
909 |
-1,589 |
| Cash and cash equivalents at the beginning of the period |
2,477 |
4,965 |
| Cash and cash equivalents at the end of the period |
3,386 |
3,376 |
| F5 |
||
| SUPPLEMENTARY FINANCIAL INFORMATION |
|||||||||||
| (UNAUDITED) |
|||||||||||
| RECONCILIATION FROM NON-IFRS NUMBERS TO IFRS NUMBERS The following tables present 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. |
|||||||||||
| for the three months ended June 30 |
|||||||||||
| € millions, unless otherwise stated |
2013 |
2012 |
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 |
982 |
0 |
982 |
41 |
1,022 |
1,059 |
0 |
1,059 |
-7 |
-7 |
-3 |
| Cloud subscriptions and support |
159 |
24 |
183 |
4 |
187 |
52 |
17 |
69 |
206 |
166 |
171 |
| Software and cloud subscriptions |
1,141 |
24 |
1,165 |
45 |
1,209 |
1,110 |
17 |
1,127 |
3 |
3 |
7 |
| Support |
2,177 |
5 |
2,182 |
62 |
2,245 |
2,013 |
1 |
2,014 |
8 |
8 |
11 |
| Software and software-related service revenue |
3,318 |
29 |
3,347 |
107 |
3,454 |
3,124 |
18 |
3,142 |
6 |
7 |
10 |
| Consulting |
580 |
0 |
580 |
16 |
595 |
617 |
0 |
617 |
-6 |
-6 |
-3 |
| Other services |
165 |
0 |
165 |
4 |
169 |
157 |
0 |
157 |
5 |
5 |
7 |
| Professional services and other service revenue |
744 |
0 |
744 |
19 |
764 |
774 |
0 |
774 |
-4 |
-4 |
-1 |
| Total revenue |
4,062 |
29 |
4,091 |
127 |
4,218 |
3,898 |
18 |
3,916 |
4 |
4 |
8 |
| Operating Expense Numbers |
|||||||||||
| Cost of software and software-related services |
-598 |
76 |
-522 |
-568 |
77 |
-491 |
5 |
6 |
|||
| Cost of professional services and other services |
-609 |
23 |
-586 |
-644 |
34 |
-610 |
-5 |
-4 |
|||
| Total cost of revenue |
-1,207 |
99 |
-1,108 |
-1,212 |
111 |
-1,101 |
0 |
1 |
|||
| Gross profit |
2,855 |
129 |
2,984 |
2,686 |
129 |
2,815 |
6 |
6 |
|||
| Research and development |
-567 |
17 |
-551 |
-568 |
45 |
-523 |
0 |
5 |
|||
| Sales and marketing |
-1,059 |
44 |
-1,015 |
-972 |
56 |
-916 |
9 |
11 |
|||
| General and administration |
-232 |
24 |
-208 |
-222 |
16 |
-206 |
5 |
1 |
|||
| Restructuring |
-17 |
17 |
0 |
-4 |
4 |
0 |
<-100 |
N/A |
|||
| TomorrowNow litigation |
0 |
0 |
0 |
-2 |
2 |
0 |
<-100 |
N/A |
|||
| Other operating income/expense, net |
9 |
0 |
9 |
3 |
0 |
3 |
>100 |
>100 |
|||
| Total operating expenses |
-3,074 |
201 |
-2,873 |
-54 |
-2,926 |
-2,977 |
234 |
-2,743 |
3 |
5 |
7 |
| Profit Numbers |
|||||||||||
| Operating profit |
988 |
230 |
1,219 |
73 |
1,292 |
921 |
252 |
1,173 |
7 |
4 |
10 |
| Other non-operating income/expense, net |
-2 |
0 |
-2 |
-45 |
0 |
-45 |
-95 |
-95 |
|||
| Finance income |
26 |
0 |
26 |
28 |
0 |
28 |
-6 |
-6 |
|||
| Finance costs |
-49 |
0 |
-49 |
-39 |
0 |
-39 |
27 |
27 |
|||
| Financial income, net |
-23 |
0 |
-23 |
-11 |
0 |
-11 |
<-100 |
<-100 |
|||
| Profit before tax |
963 |
230 |
1,194 |
865 |
252 |
1,117 |
11 |
7 |
|||
| Income tax expense |
-239 |
-81 |
-320 |
-204 |
-82 |
-286 |
17 |
12 |
|||
| Profit after tax |
724 |
149 |
874 |
661 |
170 |
831 |
10 |
5 |
|||
| Profit attributable to non-controlling interests |
0 |
0 |
0 |
0 |
0 |
0 |
N/A |
N/A |
|||
| Profit attributable to owners of parent |
725 |
149 |
874 |
661 |
170 |
831 |
10 |
5 |
|||
| Key Ratios |
|||||||||||
| Operating margin in % |
24.3 |
29.8 |
30.6 |
23.6 |
30.0 |
0.7pp |
-0.2pp |
0.6pp |
|||
| Effective tax rate in % |
24.8 |
26.8 |
23.6 |
25.6 |
1.2pp |
1.2pp |
|||||
| Earnings per share – basic (in €)* |
0.61 |
0.73 |
0.55 |
0.70 |
11 |
4 |
|||||
| Deferred cloud subscriptions and support revenue |
354 |
7 |
361 |
155 |
60 |
215 |
>100 |
68 |
|||
| F6 |
|||||||||||
| for the six months ended June 30 |
|||||||||||
| € millions, unless otherwise stated |
2013 |
2012 |
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 |
1,638 |
0 |
1,638 |
52 |
1,690 |
1,696 |
0 |
1,696 |
-3 |
-3 |
0 |
| Cloud subscriptions and support |
296 |
54 |
350 |
6 |
356 |
81 |
23 |
104 |
266 |
238 |
243 |
| Software and cloud subscriptions |
1,935 |
54 |
1,989 |
57 |
2,046 |
1,777 |
23 |
1,799 |
9 |
11 |
14 |
| Support |
4,286 |
10 |
4,295 |
106 |
4,402 |
3,966 |
2 |
3,968 |
8 |
8 |
11 |
| Software and software-related service revenue |
6,220 |
64 |
6,284 |
163 |
6,448 |
5,743 |
25 |
5,768 |
8 |
9 |
12 |
| Consulting |
1,136 |
0 |
1,136 |
24 |
1,160 |
1,214 |
0 |
1,214 |
-6 |
-6 |
-4 |
| Other services |
306 |
0 |
306 |
6 |
313 |
291 |
0 |
291 |
5 |
5 |
7 |
| Professional services and other service revenue |
1,443 |
0 |
1,443 |
30 |
1,473 |
1,505 |
0 |
1,505 |
-4 |
-4 |
-2 |
| Total revenue |
7,663 |
64 |
7,727 |
194 |
7,921 |
7,248 |
25 |
7,273 |
6 |
6 |
9 |
| Operating Expense Numbers |
|||||||||||
| Cost of software and software-related services |
-1,202 |
173 |
-1,028 |
-1,106 |
149 |
-957 |
9 |
7 |
|||
| Cost of professional services and other services |
-1,215 |
51 |
-1,164 |
-1,268 |
64 |
-1,204 |
-4 |
-3 |
|||
| Total cost of revenue |
-2,416 |
224 |
-2,192 |
-2,374 |
213 |
-2,161 |
2 |
1 |
|||
| Gross profit |
5,246 |
288 |
5,535 |
4,874 |
238 |
5,112 |
8 |
8 |
|||
| Research and development |
-1,124 |
38 |
-1,086 |
-1,091 |
68 |
-1,023 |
3 |
6 |
|||
| Sales and marketing |
-2,034 |
96 |
-1,939 |
-1,802 |
110 |
-1,692 |
13 |
15 |
|||
| General and administration |
-429 |
33 |
-396 |
-431 |
40 |
-391 |
-1 |
1 |
|||
| Restructuring |
-31 |
31 |
0 |
-4 |
4 |
0 |
<-100 |
N/A |
|||
| TomorrowNow litigation |
0 |
0 |
0 |
5 |
-5 |
0 |
-92 |
N/A |
|||
| Other operating income/expense, net |
5 |
0 |
5 |
1 |
0 |
1 |
>100 |
>100 |
|||
| Total operating expenses |
-6,029 |
422 |
-5,607 |
-94 |
-5,701 |
-5,696 |
430 |
-5,266 |
6 |
6 |
8 |
| Profit Numbers |
|||||||||||
| Operating profit |
1,634 |
486 |
2,120 |
100 |
2,220 |
1,551 |
456 |
2,007 |
5 |
6 |
11 |
| Other non-operating income/expense, net |
-13 |
0 |
-13 |
-53 |
0 |
-53 |
-76 |
-76 |
|||
| Finance income |
56 |
0 |
56 |
52 |
0 |
52 |
8 |
8 |
|||
| Finance costs |
-93 |
0 |
-93 |
-78 |
1 |
-77 |
19 |
21 |
|||
| Financial income, net |
-37 |
0 |
-37 |
-26 |
1 |
-25 |
41 |
48 |
|||
| Profit before tax |
1,584 |
486 |
2,070 |
1,472 |
457 |
1,929 |
8 |
7 |
|||
| Income tax expense |
-340 |
-167 |
-507 |
-368 |
-147 |
-515 |
-8 |
-2 |
|||
| Profit after tax |
1,244 |
318 |
1,563 |
1,104 |
310 |
1,414 |
13 |
11 |
|||
| Profit attributable to non-controlling interests |
0 |
0 |
0 |
0 |
0 |
0 |
N/A |
N/A |
|||
| Profit attributable to owners of parent |
1,245 |
318 |
1,563 |
1,104 |
310 |
1,414 |
13 |
11 |
|||
| Key Ratios |
|||||||||||
| Operating margin in % |
21.3 |
27.4 |
28.0 |
21.4 |
27.6 |
-0.1pp |
-0.2pp |
0.4pp |
|||
| Effective tax rate in % |
21.5 |
24.5 |
25.0 |
26.7 |
-3.5pp |
-2.2pp |
|||||
| Earnings per share – basic (in €)* |
1.04 |
1.31 |
0.93 |
1.19 |
12 |
10 |
|||||
| Deferred cloud subscriptions and support revenue |
354 |
7 |
361 |
155 |
60 |
215 |
>100 |
68 |
|||
| * Adjustments in the revenue line items are for support revenue, cloud subscription revenue, and other similarly recurring revenues 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 and operating income 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. |
|||||||||||
| F7 |
|||||||||||
| NON-IFRS ADJUSTMENTS |
||||
| € millions, unless otherwise stated |
04/01/ - 6/30/2013
|
01/01/ - 6/30/2013
|
04/01/ - 6/30/2012
|
01/01/ - 6/30/2012
|
| Software and software-related service revenue (IFRS) |
3,318 |
6,220 |
3,124 |
5,743 |
| Adjustment for deferred revenue write-down |
29 |
64 |
18 |
25 |
| Software and software-related service revenue (Non-IFRS) |
3,347 |
6,284 |
3,142 |
5,768 |
| Operating profit (IFRS) |
988 |
1,634 |
921 |
1,551 |
| Revenue Adjustments (per above) |
29 |
64 |
18 |
25 |
| Adjustment for discontinued activities |
0 |
0 |
2 |
-5 |
| Adjustment for acquisition-related charges |
145 |
283 |
130 |
250 |
| Adjustment for stock-based compensation expenses |
39 |
109 |
98 |
181 |
| Adjustment for restructuring |
17 |
31 |
4 |
4 |
| Operating expense adjustments |
201 |
422 |
234 |
430 |
| Operating profit adjustments |
230 |
486 |
252 |
456 |
| Operating profit (Non-IFRS) |
1,219 |
2,120 |
1,173 |
2,007 |
| Profit after tax (IFRS) |
724 |
1,244 |
661 |
1,104 |
| Revenue adjustments (per above) |
29 |
64 |
18 |
25 |
| Operating profit adjustments (per above) |
201 |
422 |
234 |
430 |
| Adjustments pre-tax |
230 |
486 |
252 |
457 |
| Taxes on adjustments |
-81 |
-167 |
-82 |
-147 |
| Profit after tax (Non-IFRS) |
874 |
1,563 |
831 |
1,414 |
| Due to rounding, numbers may not add up precisely. |
F8 |
| REVENUE BY REGION |
|||||||||||
| The following table presents our IFRS and non-IFRS revenue by region. Details regarding the different views (based on location of contract negotiation respectively by customer location are described in the note "Segment and Geographic Information" of our Consolidated Financial Statements. 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. |
|||||||||||
| Revenues by Region – Management View |
|||||||||||
| for the three months ended June 30 |
|||||||||||
| € millions |
2013 |
2012 |
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 |
417 |
0 |
417 |
7 |
424 |
419 |
0 |
419 |
-1 |
-1 |
1 |
| Americas |
391 |
0 |
391 |
21 |
412 |
435 |
0 |
435 |
-10 |
-10 |
-5 |
| APJ |
174 |
0 |
174 |
13 |
187 |
205 |
0 |
205 |
-15 |
-15 |
-9 |
| Software revenue |
982 |
0 |
982 |
41 |
1,022 |
1,059 |
0 |
1,059 |
-7 |
-7 |
-3 |
| Software revenue by location of negotiation and cloud subscription revenue by region |
|||||||||||
| EMEA |
441 |
0 |
441 |
7 |
448 |
437 |
0 |
437 |
1 |
1 |
3 |
| Americas |
518 |
24 |
542 |
24 |
566 |
465 |
17 |
482 |
11 |
13 |
18 |
| APJ |
181 |
0 |
181 |
14 |
195 |
209 |
0 |
209 |
-13 |
-13 |
-7 |
| Software revenue by location of negotiation and cloud subscription revenue |
1,141 |
24 |
1,165 |
45 |
1,209 |
1,110 |
17 |
1,127 |
3 |
3 |
7 |
| Revenues by Regions – Location of Customers |
|||||||||||
| for the three months ended June 30 |
|||||||||||
| € millions |
2013 |
2012 |
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 |
416 |
0 |
416 |
7 |
423 |
453 |
0 |
453 |
-8 |
-8 |
-7 |
| Americas |
391 |
0 |
391 |
20 |
411 |
395 |
0 |
395 |
-1 |
-1 |
4 |
| APJ |
175 |
0 |
175 |
14 |
189 |
210 |
0 |
210 |
-17 |
-17 |
-10 |
| Software revenue |
982 |
0 |
982 |
41 |
1,022 |
1,059 |
0 |
1,059 |
-7 |
-7 |
-3 |
| Cloud subscriptions and support revenue by region |
|||||||||||
| EMEA |
24 |
0 |
24 |
1 |
25 |
18 |
0 |
18 |
35 |
35 |
37 |
| Americas |
127 |
24 |
151 |
3 |
154 |
30 |
17 |
47 |
>100 |
>100 |
>100 |
| APJ |
8 |
0 |
8 |
0 |
8 |
4 |
0 |
4 |
97 |
97 |
103 |
| Cloud subscriptions and support revenue |
159 |
24 |
183 |
4 |
187 |
52 |
17 |
69 |
206 |
166 |
171 |
| Software and cloud subscription revenue by region |
|||||||||||
| EMEA |
440 |
0 |
440 |
7 |
447 |
471 |
0 |
471 |
-6 |
-6 |
-5 |
| Americas |
518 |
24 |
542 |
23 |
565 |
426 |
16 |
442 |
22 |
22 |
28 |
| APJ |
183 |
0 |
183 |
14 |
197 |
214 |
0 |
214 |
-15 |
-15 |
-8 |
| Software and cloud subscription revenue |
1,141 |
24 |
1,165 |
45 |
1,209 |
1,110 |
17 |
1,127 |
3 |
3 |
7 |
| F9 |
|||||||||||
| Software and software-related service revenue |
|||||||||||
| Germany |
455 |
0 |
455 |
0 |
455 |
436 |
0 |
436 |
4 |
4 |
4 |
| Rest of EMEA |
1,054 |
0 |
1,054 |
19 |
1,073 |
1,026 |
0 |
1,026 |
3 |
3 |
5 |
| Total EMEA |
1,509 |
0 |
1,509 |
20 |
1,529 |
1,462 |
0 |
1,462 |
3 |
3 |
5 |
| United States |
953 |
29 |
982 |
26 |
1,008 |
843 |
18 |
861 |
13 |
14 |
17 |
| Rest of Americas |
337 |
0 |
337 |
18 |
355 |
292 |
0 |
292 |
16 |
16 |
22 |
| Total Americas |
1,290 |
29 |
1,319 |
43 |
1,362 |
1,135 |
18 |
1,153 |
14 |
14 |
18 |
| Japan |
128 |
0 |
128 |
34 |
162 |
171 |
0 |
171 |
-25 |
-25 |
-6 |
| Rest of APJ |
390 |
0 |
390 |
11 |
401 |
356 |
0 |
356 |
10 |
10 |
13 |
| Total APJ |
519 |
0 |
519 |
44 |
563 |
527 |
0 |
527 |
-2 |
-2 |
7 |
| Software and software-related |
3,318 |
29 |
3,347 |
107 |
3,454 |
3,124 |
18 |
3,142 |
6 |
7 |
10 |
| Total revenue by region |
|||||||||||
| Germany |
591 |
0 |
591 |
0 |
591 |
575 |
0 |
575 |
3 |
3 |
3 |
| Rest of EMEA |
1,254 |
0 |
1,254 |
24 |
1,278 |
1,233 |
0 |
1,233 |
2 |
2 |
4 |
| Total EMEA |
1,845 |
0 |
1,845 |
24 |
1,869 |
1,808 |
0 |
1,808 |
2 |
2 |
3 |
| United States |
1,185 |
29 |
1,214 |
30 |
1,244 |
1,085 |
18 |
1,103 |
9 |
10 |
13 |
| Rest of Americas |
419 |
0 |
420 |
21 |
441 |
382 |
0 |
382 |
10 |
10 |
15 |
| Total Americas |
1,604 |
29 |
1,634 |
51 |
1,685 |
1,468 |
18 |
1,486 |
9 |
10 |
13 |
| Japan |
145 |
0 |
145 |
38 |
183 |
195 |
0 |
195 |
-25 |
-25 |
-6 |
| Rest of APJ |
467 |
0 |
467 |
14 |
481 |
427 |
0 |
427 |
9 |
9 |
13 |
| Total APJ |
612 |
0 |
612 |
52 |
664 |
622 |
0 |
622 |
-2 |
-2 |
7 |
| Total revenue |
4,062 |
29 |
4,091 |
127 |
4,218 |
3,898 |
18 |
3,916 |
4 |
4 |
8 |
| F10 |
|||||||||||
| Revenues by Region – Management View |
|||||||||||
| for the six months ended June 30 |
|||||||||||
| € millions |
2013 |
2012 |
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 |
715 |
0 |
715 |
11 |
726 |
694 |
0 |
694 |
3 |
3 |
4 |
| Americas |
645 |
0 |
645 |
24 |
669 |
674 |
0 |
674 |
-4 |
-4 |
-1 |
| APJ |
278 |
0 |
278 |
17 |
295 |
328 |
0 |
328 |
-15 |
-15 |
-10 |
| Software revenue |
1,638 |
0 |
1,638 |
52 |
1,690 |
1,696 |
0 |
1,696 |
-3 |
-3 |
0 |
| Software revenue by location of negotiation and cloud subscription revenue by region |
|||||||||||
| EMEA |
766 |
0 |
766 |
11 |
777 |
722 |
0 |
722 |
6 |
6 |
8 |
| Americas |
875 |
55 |
930 |
28 |
958 |
721 |
23 |
744 |
21 |
25 |
29 |
| APJ |
294 |
0 |
294 |
17 |
311 |
333 |
0 |
333 |
-12 |
-12 |
-7 |
| Software revenue by location of negotiation and cloud subscription revenue |
1,935 |
54 |
1,989 |
57 |
2,046 |
1,777 |
23 |
1,799 |
9 |
11 |
14 |
| F11 |
|||||||||||
| Revenues by Regions – Location of Customers |
|||||||||||
| for the six months ended June 30 |
|||||||||||
| € millions |
2013 |
2012 |
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 |
716 |
0 |
716 |
11 |
727 |
731 |
0 |
731 |
-2 |
-2 |
-1 |
| Americas |
643 |
0 |
643 |
23 |
666 |
631 |
0 |
631 |
2 |
2 |
6 |
| APJ |
280 |
0 |
280 |
17 |
297 |
333 |
0 |
333 |
-16 |
-16 |
-11 |
| Software revenue |
1,638 |
0 |
1,638 |
52 |
1,690 |
1,696 |
0 |
1,696 |
-3 |
-3 |
0 |
| Cloud subscriptions and support revenue by region |
|||||||||||
| EMEA |
51 |
0 |
51 |
0 |
51 |
28 |
0 |
28 |
81 |
80 |
83 |
| Americas |
230 |
54 |
284 |
5 |
289 |
47 |
23 |
70 |
>100 |
>100 |
>100 |
| APJ |
15 |
0 |
15 |
1 |
16 |
5 |
0 |
5 |
>100 |
>100 |
>100 |
| Cloud subscriptions and support revenue |
296 |
54 |
350 |
6 |
356 |
81 |
23 |
104 |
266 |
238 |
243 |
| Software and cloud subscription |
|||||||||||
| EMEA |
766 |
0 |
766 |
12 |
778 |
759 |
0 |
759 |
1 |
1 |
2 |
| Americas |
873 |
54 |
927 |
28 |
955 |
678 |
23 |
701 |
29 |
32 |
36 |
| APJ |
295 |
0 |
295 |
18 |
313 |
339 |
0 |
339 |
-13 |
-13 |
-8 |
| Software and cloud subscription revenue |
1,935 |
54 |
1,989 |
57 |
2,046 |
1,777 |
23 |
1,799 |
9 |
11 |
14 |
| F11 |
|||||||||||
| Software and software-related service revenue by region |
|||||||||||
| Germany |
854 |
0 |
854 |
0 |
854 |
807 |
0 |
807 |
6 |
6 |
6 |
| Rest of EMEA |
1,990 |
0 |
1,990 |
33 |
2,023 |
1,887 |
1 |
1,888 |
5 |
5 |
7 |
| Total EMEA |
2,844 |
0 |
2,844 |
33 |
2,877 |
2,694 |
1 |
2,695 |
6 |
6 |
7 |
| United States |
1,760 |
63 |
1,824 |
30 |
1,854 |
1,535 |
24 |
1,559 |
15 |
17 |
19 |
| Rest of Americas |
644 |
0 |
645 |
32 |
677 |
546 |
0 |
546 |
18 |
18 |
24 |
| Total Americas |
2,405 |
64 |
2,469 |
62 |
2,531 |
2,081 |
24 |
2,105 |
16 |
17 |
20 |
| Japan |
263 |
0 |
263 |
55 |
318 |
315 |
0 |
315 |
-17 |
-17 |
1 |
| Rest of APJ |
709 |
0 |
709 |
12 |
721 |
652 |
0 |
652 |
9 |
9 |
11 |
| Total APJ |
971 |
0 |
971 |
68 |
1,039 |
967 |
0 |
967 |
0 |
0 |
7 |
| Software and software-related service revenue |
6,220 |
64 |
6,284 |
163 |
6,448 |
5,743 |
25 |
5,768 |
8 |
9 |
12 |
| Total revenue by region |
|||||||||||
| Germany |
1,116 |
0 |
1,116 |
0 |
1,116 |
1,092 |
0 |
1,092 |
2 |
2 |
2 |
| Rest of EMEA |
2,385 |
0 |
2,385 |
40 |
2,425 |
2,291 |
1 |
2,292 |
4 |
4 |
6 |
| Total EMEA |
3,502 |
0 |
3,502 |
39 |
3,541 |
3,383 |
1 |
3,384 |
4 |
3 |
5 |
| United States |
2,209 |
63 |
2,272 |
36 |
2,308 |
1,998 |
24 |
2,022 |
11 |
12 |
14 |
| Rest of Americas |
796 |
0 |
797 |
39 |
836 |
715 |
0 |
715 |
11 |
11 |
17 |
| Total Americas |
3,005 |
64 |
3,069 |
75 |
3,144 |
2,714 |
24 |
2,738 |
11 |
12 |
15 |
| Japan |
296 |
0 |
296 |
63 |
359 |
360 |
0 |
360 |
-18 |
-18 |
0 |
| Rest of APJ |
860 |
0 |
860 |
16 |
876 |
791 |
0 |
791 |
9 |
9 |
11 |
| Total APJ |
1,156 |
0 |
1,156 |
79 |
1,235 |
1,151 |
0 |
1,151 |
0 |
0 |
7 |
| Total revenue |
7,663 |
64 |
7,727 |
194 |
7,921 |
7,248 |
25 |
7,273 |
6 |
6 |
9 |
| * Adjustments in the revenue line items are for support revenue, cloud subscription revenue, and other similarly recurring revenues 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. ** 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. For a more detailed description of these adjustments and their limitations as well as our constant currency figures, see our Web site www.sap.com/corporate-en/investors/newsandreports/reporting-framework.epx under "Non-IFRS Measures and Estimates." Due to rounding, numbers may not add up precisely. |
|||||||||||
| F12 |
|||||||||||
SOURCE SAP AG
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