Growth
SAP’s topline exceeded the revised outlook for 2020.
Profitability
SAP’s profit reached the upper end of the revised outlook for 2020.
Comparison of Outlook and Results for 2020
Comparison of Outlook and Results for 2020
| Results for 2019 |
Outlook for 2020 (Integrated Report 2019) |
Revised Outlook for 2020 (Q1 Quarterly Statement) |
Revised Outlook for 2020 (Half-Year Report) |
Revised Outlook for 2020 (Q3 Quarterly Statement) |
Results for 2020 |
|||||||
| Cloud revenue (non-IFRS, at constant currencies) |
€7.01 billion | €8.7 billion to €9.0 billion |
€8.3 billion to €8.7 billion |
€8.3 billion to €8.7 billion |
€8.0 billion to €8.2 billion |
€8.24 billion | ||||||
| Cloud and software revenue (non-IFRS, at constant currencies) |
€23.09 billion | €24.7 billion to €25.1 billion |
€23.4 billion to €24.0 billion |
€23.4 billion to €24.0 billion |
€23.1 billion to €23.6 billion |
€23,72 billion | ||||||
| Total revenue (non-IFRS, at constant currencies) |
€27.63 billion | €29.2 billion to €29.7 billion |
€27.8 billion to €28.5 billion |
€27.8 billion to €28.5 billion |
€27.2 billion to €27.8 billion |
€27,90 billion | ||||||
| Operating profit (non-IFRS, at constant currencies) |
€8.21 billion | €8.9 billion to €9.3 billion |
€8.1 billion to €8.7 billion |
€8.1 billion to €8.7 billion |
€8.1 billion to €8.5 billion |
€8,50 billion | ||||||
| Share of predictable revenue | 67% | 70% | 72% | 72% | 72% | 72% | ||||||
| Effective tax rate (IFRS) | 26.7% | 27.0% to 28.0% |
27.0% to 28.0% |
28.5% to 29.5% |
27.0% to 28.0% |
26.8% | ||||||
| Effective tax rate (non-IFRS) | 26.2% | 26.5% to 27.5% |
26.5% to 27.5% |
27.5% to 28.5% |
26.5% to 27.5% |
26.5% |
Shareholder Return
SAP paid an increased dividend (55% payout ratio) and completed a €1.5 billion share buyback program in 2020. While the SAP share priced decreased during 2020, it still has proven a strong investment, with 11% average annual return over the past 10 years.