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Investor Relations

 

  • SAP stock increased 26% in 2015.
  • The market capitalization of SAP exceeded US$97 billion at the end of 2015.
  • Recommended dividend payout is €1.15 per share.

 

In 2015, our conversations with the financial community were highly focused on the soaring adoption of SAP S/4HANA, our strategy in business networks and the powerful combination of our rapidly expanding cloud business and our growing core business. Investors were keen to understand SAP’s position to capture the tremendous growth opportunities in the market.

SAP’s stock increased 26% in 2015 outperforming major indices such as the DAX. The market capitalization of SAP exceeded US$97 billion at the end of 2015. SAP is number 57 among the top 100 most valuable companies in the world.

Providing Transparency for Investors


Investor Relations Team and Senior Management at SAP Held More Than 360 Meetings

In over 360 one-on-one meetings held during investor road shows worldwide, in virtual format over Telepresence or video conference, and at investor events, senior management at SAP and the Investor Relations (IR) team answered inquiries from institutional investors and analysts about SAP’s business strategy. We also held telephone conferences and analyst meetings when we published our quarterly results. In addition, we continued our dialog with the debt investor community through regular calls on SAP’s financial performance.

SAP Capital Markets Day at the New York Stock Exchange

A particular highlight of our global Investor Relations program in 2015 was the Capital Markets Day in conjunction with the SAP S/4HANA product launch held at the New York Stock Exchange. At the Capital Markets Day, our customers BASF, Shell, and UnderAmour spoke about their relationship with SAP. In addition, our events for investors and financial analysts at the CeBIT fair in Hanover, Germany, and the SAPPHIRE NOW conference in Orlando, Florida, in the United States, were key elements of our IR program. SAP engages in regular dialog with social responsible investors (SRIs), providing insight into SAP’s environmental, social, and corporate governance policies. SAP also speaks at various retail shareholder events.

Communication Across Multiple Channels

We provide a wide range of information for investors about SAP and SAP stock online, including social media information on the SAP Investor Relations Twitter feed @sapinvestor, the quarterly SAP INVESTOR magazine, which investors can subscribe to free of charge, and a text message service. Shareholders can reach the IR team directly through a hotline and e-mail at investor@sap.com. We also publish an overview of the latest analyst assessments in collaboration with Vara Research. All key investor events at which members of our Global Managing Board speak are broadcast live on the Internet, and we post the presentation materials on the investor relations area of our public Web site.

Rewarding Our Investors – Dividend Payout of €1.15 Per Share

We believe our shareholders should benefit appropriately from the profit the Company made in 2015. In recent years, the payout has always been greater than 35% of profit after tax. We aim to continue our policy to pay a dividend totaling more than 35% of profit after tax in the future.

The Executive Board and the Supervisory Board will recommend to the Annual General Meeting of Shareholders that the total dividend will be increased by 5% to €1.15 per share (2014: €1.10). Based on this recommendation, the overall dividend payout ratio (which here means total distributed dividend as a percentage of profit) would be 45% (2014: 40%).

Stock chart

Stock Development and Comparison to Peer Indices


Key Facts About SAP Stock/SAP ADRs

Listings    
Germany   Berlin, Frankfurt, Stuttgart
United States (ADRs)   New York Stock Exchange
IDs and symbols    
WKN/ISIN   716460/DE0007164600
NYSE (ADRs)   803054204 (CUSIP)
Reuters   SAPG.F or .DE
Bloomberg   SAP GR
Weight (%) in indexes at 12/31/2015
DAX 30   7.80
Prime All Share   5.78
CDAX   6.07
HDAX   6.20
Dow Jones STOXX 50   2.02
Dow Jones EURO STOXX 50   3.33

A Volatile Year on Stock Markets Worldwide

Stock markets were volatile in 2015. The Greek debt crisis, fears over China's economy, the decision of the Federal Reserve to delay plans to increase interest rates, the migrant crisis, terror attacks, and falling oil prices negatively impacted share prices worldwide. A third loan program for Greece and the European Central Bank's commitment to its expansionary monetary policy lifted the markets and caused stocks to rally at the beginning and end of the year.

SAP Stock Outperforms the Indexes from the Second Quarter

Our stock reached its lowest price for the year on January 9, when it traded at €54.53. It recovered after the announcement of our preliminary results for full-year 2014 before fluctuating in its low range following the announcement of further results, outlook guidance, and medium-term targets for 2015. However, on February 12 it passed the €60 mark. The European Central Bank's loose monetary policy and its announcement of a bond purchase program at the end of January buoyed the markets. This helped lift the DAX 30, which crossed the 12,000 point level on March 12. Successful participation at the CeBIT trade fair and the Company's proposal to increase the dividend also boosted the price of SAP stock.

The stock markets continued their climb in early April. On April 10, the DAX reached 12,374.73 points, an all-time high, and SAP stock surpassed €69. Shortly after, fears that Greece might leave the euro area weighed on stock markets for a time. After we published our first-quarter results on April 21, the price of SAP stock climbed to €68.94, and then to €70.72 on April 27, exceeding its record closing price from March 7, 2000. During the remainder of the second quarter, the price of SAP stock moved broadly in sympathy with general sentiment, which was disturbed by the crisis in Greece, weak economic data from the United States, and a strong euro.

The outcome of Greece's referendum and China's stock market crash weighed on markets in early July. After we announced our second-quarter results on July 21, SAP stock fell to €67.80 in a weak market environment. The negative sentiment continued into August and dragged our stock down to below the €60 mark on August 21. In the second half of September, the Federal Reserve delayed its plans to raise interest rates, which unsettled investors primarily in Europe. The DAX moved back below the 10,000-point mark. The Volkswagen crisis also weighed on market sentiment, and, on September 24, SAP stock slipped to €55.89, its lowest point of the quarter.

At the start of October, hopes of a further central bank stimulus package temporarily lifted market sentiment. SAP stock also benefited from strong third-quarter results. After we presented our results, SAP stock rose to €66.50, while the DAX fell slightly. On October 27, our stock again passed the €70 mark and, on November 20, reached €74.85, its highest value for the year and an all-time high. In the first half of December, market sentiment was cautious following weak economic data from China and a strong euro before improving after the Federal Reserve raised interest rates. SAP stock ended the year at €73.38.

Capital Stock Unchanged

SAP’s capital stock as at December 31, 2015, was €1,228,504,232 (2014: €1,228,504,232). It is issued as 1,228,504,232 no-par shares, each with an attribute value of €1 in relation to capital stock.

Shareholder Structure


The proportion of our stock in free float increased again slightly in 2015. Applying the definition accepted on the Frankfurt Stock Exchange, which excludes treasury stock from the free float, as at December 31, 2015, the free float stood at 77.5% (December 31, 2014: 75.7%). In January 2016, approximately 20% (January 2015: 22%) of the stock was under the control of SAP founders Hasso Plattner, Dietmar Hopp, the Klaus Tschira community of heirs, and their trusts and holding companies.

Institutions in Ireland and the United Kingdom represented the largest regional group of shareholders, holding 17% of the stock in January 2016 (January 2015: 15%). Institutions in North America held around 16% of the stock in January 2016 (January 2015: 16%), followed by continental European investors outside Germany, who held approximately 14% in January 2016 (January 2015: 14%). Institutions in Germany held 8% (January 2015: 7%) and investors from the rest of the world held 2% (January 2015: 3%) of the stock in January 2015. Of these institutional investors, 10% were classified as socially responsible investors (SRIs) in January 2016 (January 2015: 10%). Private or unidentified investors held 18% (January 2015: 19%) in January 2016. Also as of January 2016, SAP held 2.5% (January 2015: 2.7%) of the stock in treasury.

Return on SAP Common Stock — WKN 716460/ISIN DE007164600

Percent, unless otherwise stated            
Initial investment €10,000            
Date of investment   38,717   40,543   42,004
Period of investment   10 years   5 years   1 year
Value at 12/31/20151) (in €)   22,317   21,002   12,798
Average annual return   8.4   16.0   28.0
Performance comparators            
DAX 30 Performance — total return index   7.1   9.2   9.6
REX General Bond — total return index   4.1   4.0   0.5
S&P 500 Composite — total return index   8.2   17.4   12.9
S&P North American Technology Software Index   11.4   17.8   25.3

1) Assuming all dividends were reinvested

Source: Datastream

Return on SAP ADRs — 803054204 (CUSIP)

Percent, unless otherwise stated            
Initial investment €10,000            
Date of investment   38,717   40,543   42,004
Period of investment   10 years   5 years   1 year
Value at 12/31/20151) (in US$)   19,918   16,870   11,561
Average annual return   7.1   11.0   15.6
Performance comparators            
S&P 500 Composite — total return index   7.3   12.6   1.4

1) Assuming all dividends were reinvested

Source: Datastream

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