Form 6-K

0001193125-15-342024.txt : 20151013 0001193125-15-342024.hdr.sgml : 20151012 20151013071506 ACCESSION NUMBER: 0001193125-15-342024 CONFORMED SUBMISSION TYPE: 6-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20151013 FILED AS OF DATE: 20151013 DATE AS OF CHANGE: 20151013 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SAP SE CENTRAL INDEX KEY: 0001000184 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-PREPACKAGED SOFTWARE [7372] IRS NUMBER: 000000000 STATE OF INCORPORATION: 2M FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 6-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-14251 FILM NUMBER: 151154557 BUSINESS ADDRESS: STREET 1: DIETMAR-HOPP-ALLEE 16 CITY: WALLDORF STATE: 2M ZIP: 69190 BUSINESS PHONE: 0114962277 MAIL ADDRESS: STREET 1: DIETMAR-HOPP-ALLEE 16 CITY: WALLDORF STATE: 2M ZIP: 69190 FORMER COMPANY: FORMER CONFORMED NAME: SAP AG DATE OF NAME CHANGE: 20091023 FORMER COMPANY: FORMER CONFORMED NAME: SAP AKTIENGESELLSCHAFT SYSTEMS APPLICATIONS PRODUCTS IN DATA DATE OF NAME CHANGE: 19960807 6-K 1 d67237d6k.htm FORM 6-K Form 6-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16 OF

THE SECURITIES EXCHANGE ACT OF 1934

October 13, 2015

Commission file number:

1-14251

SAP SE

(Exact name of registrant as specified in its charter)

SAP EUROPEAN COMPANY

(Translation of registrant’s name into English)

Dietmar-Hopp-Allee 16

69190 Walldorf

Federal Republic of Germany

(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F x Form 40-F ¨

Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

Yes ¨ No x

If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82- .

TABLE OF CONTENTS


EXHIBITS			3
SIGNATURES			4
EXHIBIT INDEX			5
Exhibit 99.1

SAP SE

FORM 6-K

On October 13, 2015, SAP SE, (“SAP”), issued a press release (the “Press Release”) announcing its preliminary financial results for the third quarter and nine months ended September 30, 2015. The Press Release is attached as Exhibit 99.1 hereto and incorporated by reference herein.

This Press Release discloses certain non-IFRS measures. These measures are not prepared in accordance with IFRS and are therefore considered non-IFRS financial measures. The non-IFRS financial measures that we report should be considered in addition to, and not as substitutes for or superior to, revenue, operating income, cash flows, or other measures of financial performance prepared in accordance with IFRS.

Please refer to Explanations of Non-IFRS Measures online (www.sap.com/about/investor/index.epx) for further information regarding the non-IFRS measures.

Any statements contained in this document that are not historical facts are forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. Words such as “anticipate,” “believe,” “estimate,” “expect,” “forecast,” “intend,” “may,” “plan,” “project,” “predict,” “should” and “will” and similar expressions as they relate to SAP are intended to identify such forward-looking statements. SAP undertakes no obligation to publicly update or revise any forward-looking statements. All forward-looking statements are subject to various risks and uncertainties that could cause actual results to differ materially from expectations. The factors that could affect SAP’s future financial results are discussed more fully in SAP’s filings with the U.S. Securities and Exchange Commission (the “SEC”), including SAP’s most recent Annual Report on Form 20-F for 2014 filed with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of their dates.

EXHIBITS


Exhibit No.		Exhibit

99.1		Press Release dated October 13, 2015

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.


SAP SE
(Registrant)

By:		/s/ Christoph Huetten
		Name: Dr. Christoph Huetten
		Title: Chief Accounting Officer

By:		/s/ Christopher Sessar
		Name: Dr. Christopher Sessar
		Title: Head of Corporate External Reporting

Date: October 13, 2015

EXHIBIT INDEX


Exhibit No.		Exhibit

99.1		Press Release dated October 13, 2015

EX-99.1 2 d67237dex991.htm EXHIBIT 99.1 Exhibit 99.1

Exhibit 99.1

LOGO

For Immediate Release

October 13, 2015

SAP Announces Preliminary Third Quarter and Nine Months 2015 Results

Cloud Business Surges, Up 116% – Record Third Quarter Non-IFRS Cloud and Software Revenue – Non-IFRS Operating Profit Up 19%

•

Strong Growth in New Cloud Bookings: Up 102%

•

Non-IFRS Cloud and Software Revenue Up 19% to €4.12 Billion

•

Non-IFRS Operating Profit Increased 19% to €1.62 Billion

•

Reiterates Full Year 2015 Outlook

WALLDORF, Germany – October 13, 2015 – After an initial review of its third quarter 2015 performance, SAP SE (NYSE: SAP) today announced its preliminary financial results for the third quarter and nine months ended September 30, 2015.

SAP again delivered strong growth in the cloud, outpacing most pure cloud competitors even without the contribution from the Concur acquisition. Third quarter non-IFRS cloud subscriptions and support revenue grew 116% year-over-year (90% at constant currencies) to €600 million.¹ New cloud bookings, the key measure for SAP’s sales success in the cloud, increased 102% in the third quarter to €216 million.²

The Company had very strong top and bottom line growth. Non-IFRS cloud and software revenue increased 19% (12% at constant currencies) to €4.12 billion. Non-IFRS operating profit increased 19% (15% at constant currencies) to €1.62 billion. Non-IFRS basic earnings per share was €0.98 (2014: €0.84), an increase of 16%.

“SAP is uniquely positioned to help our customers become digital businesses. Our flagship S/4HANA is rapidly gaining market share. HANA is redefining the database industry as the standard real-time platform. Our cloud solutions for workforce engagement are best in class and our omni-channel customer experience solutions are growing faster than best of breed competitors. Our HANA Cloud Platform for the Internet of Things and Business Networks for inter-enterprise collaboration are redefining the business software industry. We are firmly reiterating our full year guidance”, said SAP CEO Bill McDermott.

SAP CFO Luka Mucic said: “Our strong double-digit growth in cloud and software revenue was mainly driven by excellent results in mature markets. SAP’s global resilience helped us also sail through stormy

¹	For the third quarter 2015, Concur contributed €149 million to SAP’s Non-IFRS cloud subscriptions and support revenue at constant currencies.

New cloud bookings consist of all order entry of a given period that is expected to be classified as cloud subscription and support revenue and results from purchases by new customers and from incremental purchases by existing customers. The order amount must be contractually committed (i.e. variable amounts from pay-per-use and similar arrangements are not included). Consequently, due to their uncommitted pay-per-use nature Ariba and Fieldglass network transaction fees are not reflected in the new cloud bookings metric. Amounts included in the measure are annualized. Concur contributed €59 million to SAP’s new cloud bookings in the third quarter.


*SAP Announces Third Quarter and Nine Months 2015 Results*			Page 2

waters in emerging markets where we expect to continue to see volatility and economic challenges. Our surge in operating profit reflects our business transformation’s continued success and the improving profitability of our cloud offerings.”

FINANCIAL RESULTS IN THE THIRD QUARTER 2015

All 2015 figures in this release are approximate due to the preliminary nature of the announcement.


	Third Quarter 2015¹⁾
	IFRS							Non- IFRS²⁾
€ billion, unless otherwise stated	Q3 2015		Q3 2014		% change			Q3 2015		Q3 2014		% change			% change const. curr.
Cloud subscriptions and support		0.60		0.28		116	%		0.60		0.28		116	%		90	%
Software licenses		1.01		0.95		7	%		1.02		0.95		7	%		4	%
Software support		2.51		2.23		12	%		2.51		2.23		12	%		6	%
Software licenses and support		3.52		3.18		11	%		3.52		3.18		11	%		6	%
Cloud and software		4.12		3.46		19	%		4.12		3.46		19	%		12	%
Total revenue		4.98		4.25		17	%		4.99		4.26		17	%		10	%
Operating profit		1.21		1.16		5	%		1.62		1.36		19	%		15	%
Operating margin (in %)		24.3		27.2		–2.9pp			32.4		31.8		0.6pp			1.3pp
Basic earnings per share (€)		0.75		0.74		2	%		0.98		0.84		16	%

1)	All figures are unaudited.

2)	For a detailed description of SAP’s non-IFRS measures see Explanation of Non-IFRS Measures online.

IFRS cloud subscriptions and support revenue was €0.60 billion (2014: €0.28 billion), an increase of 116%. Non-IFRS cloud subscriptions and support revenue was €0.60 billion (2014: €0.28 billion), an increase of 116% (90% at constant currencies). IFRS software licenses revenue was €1.01 billion (2014: €0.95 billion), an increase of 7%. Non-IFRS software licenses revenue was €1.02 billion (2014: €0.95 billion), an increase of 7% (a increase of 4% at constant currencies). IFRS software licenses and support revenue was €3.52 billion (2014: €3.18 billion), an increase of 11%. Non-IFRS software licenses and support revenue was €3.52 billion (2014: €3.18 billion), an increase of 11% (6% at constant currencies). IFRS cloud and software revenue was €4.12 billion (2014: €3.46 billion), an increase of 19%. Non-IFRS cloud and software revenue was €4.12 billion (2014: €3.46 billion), an increase of 19% (12% at constant currencies). IFRS total revenue was €4.98 billion (2014: €4.25 billion), an increase of 17%. Non-IFRS total revenue was €4.99 billion (2014: €4.26 billion), an increase of 17% (10% at constant currencies).

IFRS operating profit was €1.21 billion (2014: €1.16 billion), a increase of 5%. Non-IFRS operating profit was €1.62 billion (2014: €1.36 billion), an increase of 19% (an increase of 15% at constant currencies). IFRS operating margin was 24.3% (2014: 27.2%), a decrease of 2.9 percentage points. Non-IFRS operating margin was 32.4% (2014: 31.8%), a increase of 0.6 percentage points (1.3 percentage points at constant currencies).


*SAP Announces Third Quarter and Nine Months 2015 Results*			Page 3

FINANCIAL RESULTS IN THE FIRST NINE MONTHS 2015


	Nine Months 2015¹⁾
	IFRS							Non- IFRS²⁾
€ billion, unless otherwise stated	9M 2015		9M 2014		% change			9M 2015		9M 2014		% change			% change const. curr.
Cloud subscriptions and support		1.65		0.74		124	%		1.66		0.74		124	%		92	%
Software licenses		2.69		2.53		6	%		2.69		2.53		6	%		–1	%
Software support		7.49		6.49		16	%		7.49		6.49		15	%		7	%
Software licenses and support		10.18		9.02		13	%		10.18		9.02		13	%		4	%
Cloud and software		11.84		9.76		21	%		11.85		9.76		21	%		11	%
Total revenue		14.45		12.10		19	%		14.46		12.11		19	%		9	%
Operating profit		2.55		2.58		–1	%		4.07		3.51		16	%		5	%
Operating margin (in %)		17.7		21.3		–3.6pp			28.1		29.0		–0.9pp			–1.0pp
Basic earnings per share (€)		1.49		1.65		–10	%		2.37		2.19		8	%

1)	All figures are unaudited.

2)	For a detailed description of SAP’s non-IFRS measures see Explanation of Non-IFRS Measures online.

IFRS cloud subscriptions and support revenue was €1.65 billion (2014: €0.74 billion), an increase of 124%. Non-IFRS cloud subscriptions and support revenue was €1.66 billion (2014: €0.74 billion), an increase of 124% (92% at constant currencies). IFRS software licenses revenue was €2.69 billion (2014: €2.53 billion), an increase of 6%. Non-IFRS software licenses revenue was €2.69 billion (2014: €2.53 billion), an increase of 6% (a decrease of 1% at constant currencies). IFRS software licenses and support revenue was €10.18 billion (2014: €9.02 billion), an increase of 13%. Non-IFRS software licenses and support revenue was €10.18 billion (2014: €9.02 billion), an increase of 13% (4% at constant currencies). IFRS cloud and software revenue was €11.84 billion (2014: €9.76 billion), an increase of 21%. Non-IFRS cloud and software revenue was €11.85 billion (2014: €9.76 billion), an increase of 21% (11% at constant currencies). IFRS total revenue was €14.45 billion (2014: €12.10 billion), an increase of 19%. Non-IFRS total revenue was €14.46 billion (2014: €12.11 billion), an increase of 19% (9% at constant currencies).

IFRS operating profit was €2.55 billion (2014: €2.58 billion), a decrease of 1%. Non-IFRS operating profit was €4.07 billion (2014: €3.51 billion), an increase of 16% (a increase of 5% at constant currencies). IFRS operating margin was 17.7% (2014: 21.3%), a decrease of 3.6 percentage points. Non-IFRS operating margin was 28.1% (2014: 29.0%), a decrease of 0.9 percentage points (1.0 percentage points at constant currencies).


*SAP Announces Third Quarter and Nine Months 2015 Results*			Page 4

BUSINESS OUTLOOK 2015

The Company reiterates the following 2015 outlook:

•

Based on the strong momentum in SAP’s cloud business the Company expects full-year 2015 non-IFRS cloud subscriptions and support revenue to be in a range of €1.95 - €2.05 billion at constant currencies (2014: €1.10 billion). The upper end of this range represents a growth rate of 86% at constant currencies. Concur and Fieldglass are expected to contribute approximately 50 percentage points to this growth.

•

The Company expects full year 2015 non-IFRS cloud and software revenue to increase by 8% - 10% at constant currencies (2014: €14.33 billion).

•

The Company expects full-year 2015 non-IFRS operating profit to be in a range of €5.6 billion - €5.9 billion at constant currencies (2014: €5.64 billion).

The company will report its complete third quarter and nine months 2015 results on October 20th.

*****

Additional Information

2015 revenue and profit figures include the full revenue and profit from Concur and Fieldglass. The comparative numbers for 2014 include Concur starting December 4 and May 2.

For a more detailed description of all of SAP’s non-IFRS measures and their limitations as well as our constant currency and free cash flow figures see Explanation of Non-IFRS Measures online.

Third Quarter 2015 Interim Report

SAP’s third quarter 2015 Interim Report will be published on October 20, 2015 and will be available for download at www.sap.com/investor.

Webcast

SAP earnings conference call for financial analysts will take place on Tuesday, October 20th at 2:00 PM (CEST) / 1:00 PM (GMT) / 8:00 AM (EDT) / 5:00 AM (PDT). The conference call will be web cast live on the Company’s website at www.sap.com/investor and will be available for replay.

About SAP

As market leader in enterprise application software, SAP (NYSE: SAP) helps companies of all sizes and industries run better. From back office to boardroom, warehouse to storefront, desktop to mobile device – SAP empowers people and organizations to work together more efficiently and use business insight more effectively to stay ahead of the competition. SAP applications and services enable more than 293,500 customers to operate profitably, adapt continuously, and grow sustainably. For more information, visit www.sap.com.

For more information, financial community only:

Stefan Gruber +49 (6227) 7-44872 investor@sap.com, CET

Follow SAP Investor Relations on Twitter at @sapinvestor.

For more information, press only:

Nicola Leske +49 (6227) 7-50852 nicola.leske@sap.com, CET

Daniel Reinhardt +49 (6227) 7-40201 daniel.reinhardt@sap.com, CET

Andy Kendzie +1 (202) 312-3919 andy.kendzie@sap.com, ET


*SAP Announces Third Quarter and Nine Months 2015 Results*			Page 5

For customers interested in learning more about SAP products:

Global Customer Center: +49 180 534-34-24

United States Only: 1 (800) 872-1SAP (1-800-872-1727)

Note to editors:

To preview and download broadcast-standard stock footage and press photos digitally, please visit www.sap.com/photos. On this platform, you can find high resolution material for your media channels. To view video stories on diverse topics, visit www.sap-tv.com. From this site, you can embed videos into your own Web pages, share video via e-mail links and subscribe to RSS feeds from SAP TV.

# # #

Any statements contained in this document that are not historical facts are forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. Words such as “anticipate,” “believe,” “estimate,” “expect,” “forecast,” “intend,” “may,” “plan,” “project,” “predict,” “should” and “will” and similar expressions as they relate to SAP are intended to identify such forward-looking statements. SAP undertakes no obligation to publicly update or revise any forward-looking statements. All forward-looking statements are subject to various risks and uncertainties that could cause actual results to differ materially from expectations. The factors that could affect SAP’s future financial results are discussed more fully in SAP’s filings with the U.S. Securities and Exchange Commission (“SEC”), including SAP’s most recent Annual Report on Form 20-F filed with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of their dates.

No part of this publication may be reproduced or transmitted in any form or for any purpose without the express permission of SAP SE. The information contained herein may be changed without prior notice.

Some software products marketed by SAP SE and its distributors contain proprietary software components of other software vendors. National product specifications may vary.

These materials are provided by SAP SE and its affiliated companies (“SAP Group”) for informational purposes only, without representation or warranty of any kind, and SAP Group shall not be liable for errors or omissions with respect to the materials. The only warranties for SAP Group products and services are those that are set forth in the express warranty statements accompanying such products and services, if any. Nothing herein should be construed as constituting an additional warranty.

SAP and other SAP products and services mentioned herein as well as their respective logos are trademarks or registered trademarks of SAP SE (or an SAP affiliate company) in Germany and other countries. Please see

http://www.sap.com/corporate-en/legal/copyright/index.epx#trademark for additional trademark information and notices.

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Table of Contents

Table of Contents

Table of Contents

Table of Contents

Table of Contents

Table of Contents