SAP Quarterly Statement Q2 2025

WALLDORF, Germany, July 22, 2025

Current cloud backlog of €18.1 billion, up 22% and up 28% at constant currencies

Cloud revenue up 24% and up 28% at constant currencies

Cloud ERP Suite revenue up 30% and up 34% at constant currencies

Total revenue up 9% and up 12% at constant currencies

IFRS operating profit of €2.5 billion; non-IFRS operating profit of €2.6 billion, up 32% and up 35% at constant currencies

Outlook 2025 unchanged

/PRNewswire/ -- SAP SE (NYSE:SAP) announced today its financial results for the second quarter ended June 30, 2025.

Christian Klein, CEO:We have delivered yet another quarter of outstanding results. AI innovations such as Joule becoming available "everywhere and for everything" and SAP Business Data Cloud as a powerful accelerator of AI make our portfolio ever stronger. Enterprise operations are about to enter a new era, and SAP is best positioned to benefit from that evolution.

Dominik Asam, CFO:We achieved a very good Q2, with accelerating total revenue growth, strong profitability and free cash flow. Our performance was supported by continued customer demand and disciplined cost control. As we move into the second half, we remain cautiously optimistic, keeping a close eye on geopolitical developments and public sector trends.

Financial Performance

Group results at a glance, Second quarter 2025

IFRS

Non-IFRS1

€ million, unless otherwise stated

Q2 2025

Q2 2024

∆ in %

Q2 2025

Q2 2024

∆ in %

∆ in % const. curr.

SaaS/PaaS

5,045

4,018

26

5,045

4,018

26

30

Thereof Cloud ERP Suite2

4,422

3,414

30

4,422

3,414

30

34

Thereof Extension Suite3

624

604

3

624

604

3

7

IaaS4

85

135

–37

85

135

–37

–35

Cloud revenue

5,130

4,153

24

5,130

4,153

24

28

Cloud and software revenue

7,966

7,175

11

7,966

7,175

11

14

Total revenue

9,027

8,288

9

9,027

8,288

9

12

Share of more predictable revenue (in %)

86

84

2pp

86

84

2pp

Cloud gross profit

3,833

3,030

26

3,856

3,043

27

31

Gross profit

6,620

6,017

10

6,643

6,029

10

13

Operating profit (loss)

2,456

1,222

>100

2,568

1,940

32

35

Profit (loss) after tax

1,749

918

91

1,747

1,278

37

Earnings per share - Basic (in €)

1.45

0.76

91

1.50

1.10

37

Net cash flows from operating activities

2,577

1,509

71

Free cash flow

2,357

1,288

83

1 For a breakdown of the individual adjustments see table "Non-IFRS Operating Expense Adjustments by Functional Areas" in this Quarterly Statement.

2 Cloud ERP Suite references the portfolio of strategic Software-as-a-Service (SaaS) and Platform-as-a-Service (PaaS) solutions that are tightly integrated with our core ERP solutions and are included in key commercial packages, such as RISE with SAP. Further, Cloud ERP Suite also includes cloud-based capabilities enabling our customers' ERP landscapes and their cloud transformation. The following offerings contribute to Cloud ERP Suite revenue: SAP Cloud ERP, SAP Business Technology Platform, financial- and spend management, supply chain management, core solutions for human capital management, commerce, business transformation management and AI.

3 Extension Suite references SAP's remaining SaaS and PaaS solutions that supplement and extend the functional coverage of the Cloud ERP ...