SAP reaffirms 2023 outlook

Dominik Asam, CFO: “Our Q3 results demonstrate strong execution and the resilience of our business, including sustained cloud growth in spite of persisting macro headwinds. Also, we carefully balance growth and profitability at all times. In combination, this allows us to boost our bottom-line with the aim to achieve double-digit operating profit growth this year.” For 2023, SAP continues to expect EUR 14.0 – 14.2B cloud revenue at constant currencies, up 23% to 24% at constant currencies; EUR 27.0 – 27.4B cloud and software revenue at constant currencies, up 6% to 8% at constant currencies; EUR 8.65 – 8.95B non-IFRS operating profit at constant currencies, up 8% to 12% at constant currencies; a share of more predictable revenue of approximately 82%; free cash flow of approximately EUR 4.9B.