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Primary Consolidated Financial Statements


✓ Assured


Consolidated Income Statements of SAP Group for the Years Ended December 31

€ millions, unless otherwise stated   Notes   2018   2017   2016
Cloud subscriptions and support       4,993   3,769   2,993
Software licenses       4,647   4,872   4,859
Software support       10,981   10,908   10,571
Software licenses and support       15,628   15,780   15,431
Cloud and software       20,622   19,549   18,424
Services       4,086   3,912   3,639
Total revenue   (A.1), (C.2)   24,708   23,461   22,062
                 
Cost of cloud subscriptions and support       −2,068   −1,660   −1,313
Cost of software licenses and support       −2,092   −2,234   −2,182
Cost of cloud and software       −4,160   −3,893   −3,495
Cost of services       −3,302   −3,158   −3,089
Total cost of revenue       −7,462   −7,051   −6,583
Gross profit       17,246   16,410   15,479
Research and development       −3,624   −3,352   −3,044
Sales and marketing       −6,781   −6,924   −6,265
General and administration       −1,098   −1,075   −1,005
Restructuring   (B.6)   −19   −182   −28
Other operating income/expense, net       −20   1   −3
Total operating expenses       −19,005   −18,584   −16,928
Operating profit       5,703   4,877   5,135
                 
Other non-operating income/expense, net   (C.3)   −56   −36   −234
Finance income       371   476   230
Finance costs       −418   −288   −259
Financial income, net   (C.4)   −47   188   −29
Profit before tax   (C.2)   5,600   5,029   4,872
                 
Income tax expense   (C.5)   −1,511   −983   −1,242
Profit after tax       4,088   4,046   3,629
Attributable to owners of parent       4,083   4,008   3,642
Attributable to non-controlling interests       6   38   −13
                 
Earnings per share, basic (in €)   (C.6)   3.42   3.35   3.04
Earnings per share, diluted (in €)   (C.6)   3.42   3.35   3.04

 

The accompanying Notes are an integral part of these Consolidated Financial Statements.

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Consolidated Statements of Comprehensive Income of SAP Group for the Years Ended December 31

€ millions   Notes   2018   2017   2016
Profit after tax       4,088   4,046   3,629
Items that will not be reclassified to profit or loss                
Remeasurements on defined benefit pension plans, before tax       12   29   −10
Income taxes relating to remeasurements on defined benefit pension plans       −1   −7   2
Remeasurements on defined benefit pension plans, net of tax       11   22   −8
Other comprehensive income for items that will not be reclassified to profit or loss, net of tax       11   22   −8
Items that will be reclassified subsequently to profit or loss                
Gains (losses) on exchange differences on translation, before tax       910   −2,730   865
Reclassification adjustments on exchange differences on translation, before tax       0   0   −1
Exchange differences, before tax       910   −2,730   864
Income taxes relating to exchange differences on translation       0   −2   −25
Exchange differences, net of tax   (E.2)   910   −2,732   839
Gains (losses) on remeasuring available-for-sale financial assets, before tax       0   114   −18
Reclassification adjustments on available-for-sale financial assets, before tax       0   −250   −26
Available-for-sale financial assets, before tax   (F.2), (F.3)   0   −136   −44
Income taxes relating to available-for-sale financial assets       0   1   1
Available-for-sale financial assets, net of tax   (E.2)   0   −135   −43
Gains (losses) on cash flow hedges/cost of hedging, before tax       −10   81   −24
Reclassification adjustments on cash flow hedges/cost of hedging, before tax       −22   −41   8
Cash flow hedges/cost of hedging, before tax   (F.1), (F.3)   −32   39   −15
Income taxes relating to cash flow hedges/cost of hedging       9   −10   4
Cash flow hedges/cost of hedging, net of tax   (E.2)   −23   29   −11
Other comprehensive income for items that will be reclassified to profit or loss, net of tax       887   −2,838   785
Other comprehensive income, net of tax       898   −2,816   777
Total comprehensive income       4,986   1,229   4,406
Attributable to owners of parent       4,980   1,191   4,418
Attributable to non-controlling interests       6   38   −13

 

The accompanying Notes are an integral part of these Consolidated Financial Statements.

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Consolidated Statements of Financial Position of SAP Group as at December 31

€ millions   Notes   2018   2017
Cash and cash equivalents   (E.3)   8,627   4,011
Other financial assets   (D.5), (E.3)   448   990
Trade and other receivables   (A.2)   6,362   5,899
Other non-financial assets   (A.3), (G.1)   889   725
Tax assets       293   306
Total current assets       16,620   11,930
Goodwill   (D.2)   23,725   21,271
Intangible assets   (D.3)   3,227   2,967
Property, plant, and equipment   (D.4)   3,553   2,967
Other financial assets   (D.5), (E.3)   1,536   1,155
Trade and other receivables   (A.2)   118   118
Other non-financial assets   (A.3), (G.1)   1,301   687
Tax assets       397   352
Deferred tax assets   (C.5)   1,015   1,037
Total non-current assets       34,871   30,554
Total assets       51,491   42,484
             
Trade and other payables       1,486   1,151
Tax liabilities       611   597
Financial liabilities   (E.3)   1,125   1,561
Other non-financial liabilities   (B.5), (G.2)   4,120   3,982
Provisions   (A.4), (B.4), (B.5), (B.6)   110   149
Contract liabilities/deferred income   (A.1)   3,028   2,771
Total current liabilities       10,481   10,210
Trade and other payables       129   119
Tax liabilities       495   434
Financial liabilities   (E.3)   10,553   5,034
Other non-financial liabilities   (B.5), (G.2)   501   514
Provisions   (A.4), (B.4), (B.5), (B.6)   270   328
Deferred tax liabilities   (C.5)   97   251
Contract liabilities/deferred income   (A.1)   88   79
Total non-current liabilities       12,133   6,759
Total liabilities       22,614   16,969
Issued capital       1,229   1,229
Share premium       543   570
Retained earnings       27,407   24,769
Other components of equity       1,234   508
Treasury shares       −1,580   −1,591
Equity attributable to owners of parent       28,832   25,484
Non-controlling interests       45   31
Total equity   (E.2)   28,877   25,515
Total equity and liabilities       51,491   42,484

 

The accompanying Notes are an integral part of these Consolidated Financial Statements.

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Consolidated Statements of Changes in Equity of SAP Group for the Years Ended December 31

€ millions   Equity Attributable to Owners of Parent   Non-Controlling Interests   Total Equity
Issued Capital   Share Premium   Retained Earnings   Other Components of Equity   Treasury Shares   Total
 
Notes   (E.2)   (E.2)       (E.2)   (E.2)            
1/1/2016   1,229   558   20,033   2,561   −1,124   23,257   28   23,285
Profit after tax           3,642           3,642   −13   3,629
Other comprehensive income           −8   785       777       777
Comprehensive income           3,634   785       4,418   −13   4,406
Share-based payments       16               16       16
Dividends           −1,378           −1,378       −1,378
Reissuance of treasury shares under share-based payments       25           25   50       50
Other changes           −2           −2   6   4
12/31/2016   1,229   599   22,287   3,346   −1,099   26,361   21   26,383
Profit after tax           4,008           4,008   38   4,046
Other comprehensive income           22   −2,838       −2,816       −2,816
Comprehensive income           4,029   −2,838       1,191   38   1,229
Share-based payments       −43               −43       −43
Dividends           −1,499           −1,499   −66   −1,565
Purchase of treasury shares                   −500   −500       −500
Reissuance of treasury shares under share-based payments       13           8   22       22
Hyperinflation           −17           −17       −17
Changes in non-controlling interests           −33           −33   35   2
Other changes           2           2   2   4
12/31/2017   1,229   570   24,769   508   −1,591   25,484   31   25,515
Adoption of IFRS 15           83           83       83
Adoption of IFRS 9           135   −160       −25       −25
1/1/2018   1,229   570   24,987   347   −1,591   25,542   31   25,573
Profit after tax           4,083           4,083   6   4,088
Other comprehensive income           11   887       898       898
Comprehensive income           4,093   887       4,980   6   4,986
Share-based payments       −40               −40       −40
Dividends           −1,671           −1,671   −13   −1,684
Reissuance of treasury shares under share-based payments       13           11   24       24
Shares to be issued           7           7       7
Hyperinflation           −8           −8       −8
Changes in non-controlling interests                       0   19   19
Other changes           −2           −2   3   1
12/31/2018   1,229   543   27,407   1,234   −1,580   28,832   45   28,877

 

The accompanying Notes are an integral part of these Consolidated Financial Statements.

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Consolidated Statements of Cash Flows of SAP Group for the Years Ended December 31

€ millions   Notes   2018   2017   2016
Profit after tax       4,088   4,046   3,629
Adjustments to reconcile profit after tax to net cash flow from operating activities:                
Depreciation and amortization   (D.2)–(D.4)   1,362   1,272   1,268
Income tax expense   (C.5)   1,511   983   1,242
Financial income, net   (C.4)   47   −188   29
Decrease/increase in sales and bad debt allowances on trade receivables       −67   −32   51
Other adjustments for non-cash items       −14   −34   39
Decrease/increase in trade and other receivables       136   −309   −675
Decrease/increase in other assets       −454   −355   −248
Decrease/increase in trade payables, provisions, and other liabilities       93   389   513
Decrease/increase in contract liabilities/deferred income       −561   718   368
Interest paid       −251   −200   −190
Interest received       99   88   79
Income taxes paid, net of refunds       −1,687   −1,332   −1,477
Net cash flows from operating activities       4,303   5,045   4,628
Business combinations, net of cash and cash equivalents acquired       −2,036   −291   −106
Cash flows from derivative financial instruments related to business combinations       −103   0   0
Total cash flows for business combinations, net of cash and cash equivalents acquired   (D.1)   −2,140   −291   −106
Purchase of intangible assets and property, plant, and equipment       −1,458   −1,275   −1,001
Proceeds from sales of intangible assets or property, plant, and equipment       57   97   63
Purchase of equity or debt instruments of other entities       −1,013   −2,914   −1,549
Proceeds from sales of equity or debt instruments of other entities       1,488   3,272   793
Net cash flows from investing activities       −3,066   −1,112   −1,799
Dividends paid   (E.2)   −1,671   −1,499   −1,378
Dividends paid on non-controlling interests       −7   −45   0
Purchase of treasury shares   (E.2)   0   −500   0
Proceeds from reissuance of treasury shares       0   0   27
Proceeds from borrowings   (E.3)   6,368   27   443
Repayments of borrowings   (E.3)   −1,407   −1,391   −1,800
Transactions with non-controlling interests       0   2   3
Net cash flows from financing activities       3,283   −3,406   −2,705
Effect of foreign currency rates on cash and cash equivalents       97   −218   167
Net decrease/increase in cash and cash equivalents       4,617   309   291
Cash and cash equivalents at the beginning of the period   (E.3)   4,011   3,702   3,411
Cash and cash equivalents at the end of the period   (E.3)   8,627   4,011   3,702

 

The accompanying Notes are an integral part of these Consolidated Financial Statements.

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