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SAP SE (SAP) FY2024 earnings results (fiscal 2024)
20-F filed Feb 27, 2025
SAP SE (SAP) reported revenue of $34.2B for the fiscal 2024 (FY2024), +10% from a year earlier. Operating margin was 13.6%, net earnings $3.1B (9.1% of revenue).
SAP SE, FY2024: revenue $34.2B (+10% year over year), operating margin 13.6%, net earnings $3.1B, operating cash flow $5.2B. The chart follows the revenue to costs, profit and cash.
| FY2024 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $34.2B | — | +10% |
| Gross profit | $24.9B | — | +11% |
| Operating profit | $4.7B | — | -20% |
| Net earnings | $3.1B | — | -49% |
| Operating cash flow | $5.2B | — | -17% |
What changed
Revenue was €34.2B in FY2024, up 10% year over year.
Gross margin was 73.0%, up 0.7 points from FY2023. Operating profit was €4.7B, a 13.6% margin (down 4.9 points year over year). Operating profit fell €1.1B even though revenue rose €3.0B versus FY2023, so costs grew faster than sales. Operating expenses grew 21% against revenue growth of 10%. The fastest-growing cost line was Other operating costs (+36%). Net earnings were €3.1B, down 49% year over year. The effective tax rate was 33.9%.
Operating cash flow was €5.2B (down 17% year over year), 165% of net earnings. Non-cash charges added back €1.3B of depreciation and amortization and €2.4B of share-based compensation. Working capital and other items used €1.6B.
Questions
What was SAP SE's revenue in the fiscal 2024?
SAP SE (SAP) reported revenue of $34.2B for the fiscal 2024 (FY2024), +10% from a year earlier.
Was SAP SE profitable in the fiscal 2024?
Operating profit was $4.7B (13.6% of revenue) and net earnings $3.1B.
Source: SAP SE 20-F on SEC EDGAR.