SAP Norge AS Management Report 2024
SAP Norge AS Management Report 2024 Including Account of Due Diligence under the Norwegian Transparency Act Laste ned dokumentetSAP NORGE AS
Management Report
31 December 2024Docusign Envelope ID: FA07B3FD-1069-47E6-897B-4735672DD913
Management Report
31 December 2024Docusign Envelope ID: FA07B3FD-1069-47E6-897B-4735672DD913
Contents
Company Information .............................................................................................................................................................................. 1
Directors’ Report ..................................................................................................................................................................................... 2
Working Environment and Employees .................................................................................................................................................. 4
Transparency, Human Rights and Decent Working Conditions ......................................................................................................... 8
Statement by the Board of Directors ...................................................................................................................................................14Docusign Envelope ID: FA07B3FD-1069-47E6-897B-4735672DD913
Company Information .............................................................................................................................................................................. 1
Directors’ Report ..................................................................................................................................................................................... 2
Working Environment and Employees .................................................................................................................................................. 4
Transparency, Human Rights and Decent Working Conditions ......................................................................................................... 8
Statement by the Board of Directors ...................................................................................................................................................14Docusign Envelope ID: FA07B3FD-1069-47E6-897B-4735672DD913
Company Information 2024 1
Company Information
Name
Established
Registered office
Financial year
Website
Board of Directors
Ultimate Controlling Party
SAP Norge AS
1 January 1999
Oslo
1 January – 31 December
www.sap.com/norway
Christian Larsen Pedersen (Chairperson of the Board)
Helle Dochedahl (Board Member and Chief Executive Officer)
Marius Vetter (Board Member)
SAP SE, Walldorf, Germany
Group’s Annual Report: www.sap.com/investorDocusign Envelope ID: FA07B3FD-1069-47E6-897B-4735672DD913
Company Information
Name
Established
Registered office
Financial year
Website
Board of Directors
Ultimate Controlling Party
SAP Norge AS
1 January 1999
Oslo
1 January – 31 December
www.sap.com/norway
Christian Larsen Pedersen (Chairperson of the Board)
Helle Dochedahl (Board Member and Chief Executive Officer)
Marius Vetter (Board Member)
SAP SE, Walldorf, Germany
Group’s Annual Report: www.sap.com/investorDocusign Envelope ID: FA07B3FD-1069-47E6-897B-4735672DD913
Directors’ Report 2024 2
Directors’ Report
Principal activity and business review
The Company’s area of business activities are marketing, sales and distribution of software solutions, consulting and training,
and other closely related businesses. The Company’s principal activity is to grant licenses to use SAP business software
solutions.
SAP’s vision of bringing out the best in every business reflects SAP’s commitment to transform organisations globally. SAP
aims to build a future where businesses adapt rapidly to changes and opportunities, embed sustainability in their operations,
and drive efficiency throughout the value chain. SAP’s commitment to this vision is based on three pillars:
– Agile business transformation at scale;
– Achieve more across the value chain;
– Sustainability at customer’s core.
At SAP, our journey is one of continuous innovation and transformation. SAP is committed to delivering solutions that integrate
seamlessly, evolve alongside our customers, and are ready to grow with their ambitions.
Financial review
NOK'000 2024 2023 2022
Revenue 1,434,943 1,317,839 1,229,366
Operating profit 74,132 39,346 36,637
Profit after income tax 76,452 43,253 32,167
Cash flows from operating activities 172,692 57,396 71,511
Cash and cash equivalents 301,032 211,938 143,164
Total equity 381,705 305,253 262,000
Proposed distribution of the Company’s profit or loss
NOK'000 2024 2023
Retained earnings as at 1 January 172,040 128,787
Profit after income tax 76,452 43,253
Retained earnings as at 31 December 248,492 172,040
Future development
The Company has strong ambitions for sustainable business success, both for our company and for our customers. We believe
the most important indicators to measure this success comprise both financial and non-financial indicators: growth,
profitability, customer loyalty, and employee engagement.
By developing software, providing software and services to the customers, and engaging them in feedback, the Company
immediately generates results for SAP such as growth, profitability, employee engagement, and customer loyalty. Value
creation for the customer is realised when they implement the software and services to support their business and help achieve
their own visions and purposes.
Risk management
Risk management is integral to the whole business of the Company. The management continually monitors the Company’s
risk management process to ensure that an appropriate balance between risk and control is achieved. Risk management
policies and systems are reviewed regularly to reflect changes in market conditions and the Company’s activities.
The Company has no significant risks.Docusign Envelope ID: FA07B3FD-1069-47E6-897B-4735672DD913
Directors’ Report
Principal activity and business review
The Company’s area of business activities are marketing, sales and distribution of software solutions, consulting and training,
and other closely related businesses. The Company’s principal activity is to grant licenses to use SAP business software
solutions.
SAP’s vision of bringing out the best in every business reflects SAP’s commitment to transform organisations globally. SAP
aims to build a future where businesses adapt rapidly to changes and opportunities, embed sustainability in their operations,
and drive efficiency throughout the value chain. SAP’s commitment to this vision is based on three pillars:
– Agile business transformation at scale;
– Achieve more across the value chain;
– Sustainability at customer’s core.
At SAP, our journey is one of continuous innovation and transformation. SAP is committed to delivering solutions that integrate
seamlessly, evolve alongside our customers, and are ready to grow with their ambitions.
Financial review
NOK'000 2024 2023 2022
Revenue 1,434,943 1,317,839 1,229,366
Operating profit 74,132 39,346 36,637
Profit after income tax 76,452 43,253 32,167
Cash flows from operating activities 172,692 57,396 71,511
Cash and cash equivalents 301,032 211,938 143,164
Total equity 381,705 305,253 262,000
Proposed distribution of the Company’s profit or loss
NOK'000 2024 2023
Retained earnings as at 1 January 172,040 128,787
Profit after income tax 76,452 43,253
Retained earnings as at 31 December 248,492 172,040
Future development
The Company has strong ambitions for sustainable business success, both for our company and for our customers. We believe
the most important indicators to measure this success comprise both financial and non-financial indicators: growth,
profitability, customer loyalty, and employee engagement.
By developing software, providing software and services to the customers, and engaging them in feedback, the Company
immediately generates results for SAP such as growth, profitability, employee engagement, and customer loyalty. Value
creation for the customer is realised when they implement the software and services to support their business and help achieve
their own visions and purposes.
Risk management
Risk management is integral to the whole business of the Company. The management continually monitors the Company’s
risk management process to ensure that an appropriate balance between risk and control is achieved. Risk management
policies and systems are reviewed regularly to reflect changes in market conditions and the Company’s activities.
The Company has no significant risks.Docusign Envelope ID: FA07B3FD-1069-47E6-897B-4735672DD913
Directors’ Report 2024 3
Directors’ Report (Continued)
Going concern
The financial statements have been prepared in accordance with the section § 3-3a of the Norwegian Accounting Act and based
on the accounting policies applicable to a going concern. This basis presumes that funds will be available to finance future
operations and that the realisation of assets and settlement of liabilities, contingent obligations and commitments will occur
in the ordinary course of business.
Pursuant to the requirements of Norwegian Accounting Legislation, the Board confirms that the requirements for the going
concern assumption have been met and that the financial statements have been prepared on this basis.
Environment
In line with our purpose to help the world run better and improve people’s lives, SAP has embraced the UN Sustainable
Development Goals. We strive to execute on this purpose by being a role model for sustainable, purpose-led operations and by
enabling our customers to operate in a sustainable way. Following the adoption of the SDGs by the world leaders in September
2015, we identified and aligned existing initiatives with all 17 SDGs. We looked at the environmental and social impacts of
customers using SAP technology and applications, linking these impacts to the SDGs. While we are committed to using our
extensive resources and reach across more than 25 industries to contribute to virtually all of the 17 SDGs, we focus on eight
where we believe we can provide the most value, namely:
– 3 Good Health and Well-Being
– 4 Quality Education
– 8 Decent Work and Economic Growth
– 9 Industry, Innovation and Infrastructure
– 10 Reduced Inequalities
– 12 Responsible Consumption and Production
– 13 Climate Action
– 17 Partnerships for the goals
Insurance of directors and members of the board
The Company paid an insurance in respect of a contract insuring current members of the board against all liabilities and
expenses arising as a result of work performed in their respective capacities, to the extent permitted by law.Docusign Envelope ID: FA07B3FD-1069-47E6-897B-4735672DD913
Directors’ Report (Continued)
Going concern
The financial statements have been prepared in accordance with the section § 3-3a of the Norwegian Accounting Act and based
on the accounting policies applicable to a going concern. This basis presumes that funds will be available to finance future
operations and that the realisation of assets and settlement of liabilities, contingent obligations and commitments will occur
in the ordinary course of business.
Pursuant to the requirements of Norwegian Accounting Legislation, the Board confirms that the requirements for the going
concern assumption have been met and that the financial statements have been prepared on this basis.
Environment
In line with our purpose to help the world run better and improve people’s lives, SAP has embraced the UN Sustainable
Development Goals. We strive to execute on this purpose by being a role model for sustainable, purpose-led operations and by
enabling our customers to operate in a sustainable way. Following the adoption of the SDGs by the world leaders in September
2015, we identified and aligned existing initiatives with all 17 SDGs. We looked at the environmental and social impacts of
customers using SAP technology and applications, linking these impacts to the SDGs. While we are committed to using our
extensive resources and reach across more than 25 industries to contribute to virtually all of the 17 SDGs, we focus on eight
where we believe we can provide the most value, namely:
– 3 Good Health and Well-Being
– 4 Quality Education
– 8 Decent Work and Economic Growth
– 9 Industry, Innovation and Infrastructure
– 10 Reduced Inequalities
– 12 Responsible Consumption and Production
– 13 Climate Action
– 17 Partnerships for the goals
Insurance of directors and members of the board
The Company paid an insurance in respect of a contract insuring current members of the board against all liabilities and
expenses arising as a result of work performed in their respective capacities, to the extent permitted by law.Docusign Envelope ID: FA07B3FD-1069-47E6-897B-4735672DD913