SAP SE reports developments across enterprise application software, cloud ERP, business AI, and the platforms that connect core business processes. Company news commonly covers SAP Business Technology Platform, SAP Business Data Cloud, SAP Customer Experience, Joule agents, SAP Signavio, and RISE with SAP as they relate to finance, procurement, HR, supply chain, customer experience, and business transformation workflows.
Recurring updates also include strategic partnerships with cloud and technology providers, trusted cloud and sovereign cloud offerings, AI-enabled process automation, logistics execution through SAP Logistics Management, and robotics integration through SAP Embodied AI Service. Investor communications cover executive conference participation and operating themes tied to cloud adoption, enterprise AI, and customer transformation programs.
SAP emphasizes the crucial role of industrial manufacturers in achieving sustainability through circular economies. Remanufacturing, which has become vital amidst material shortages and increasing regulations, is seen as a key strategy for reducing carbon emissions and enhancing supply chain resilience. According to an Oxford Economics study, companies report benefits like improved brand reputation (80%) and increased innovation (79%) from circular initiatives. SAP aims to innovate processes that connect data across organizations to support sustainability goals.
SAP SE (NYSE: SAP) unveiled SAP Build, a low-code solution designed to empower business users at the SAP TechEd conference on November 15, 2022. This tool allows users with minimal technical skills to create applications, automate processes, and access SAP's Business Technology Platform (BTP) efficiently. SAP aims to upskill two million developers by 2025 through partnerships, including one with Coursera, which will provide entry-level professional certificates. The launch is part of a broader strategy to enhance customer experience and drive digital transformation in today's volatile business landscape.
SAP SE (NYSE: SAP) announced the launch of SAP Build, a low-code solution aimed at empowering business users to drive innovation and automate processes without extensive technical knowledge. Introduced at the SAP TechEd conference on Nov. 15, 2022, SAP Build leverages the capabilities of the SAP Business Technology Platform to provide direct access to business applications and data. Additionally, SAP partners with Coursera to offer entry-level professional certificates, aiming to upskill two million developers by 2025. This initiative is projected to meet the growing demand for digital solutions across businesses.
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SAP SE reported strong third-quarter results, with a 38% increase in cloud revenue to €3.29 billion, driven by significant growth in cloud backlog and SaaS offerings. The current cloud backlog rose 38% to €11.27 billion. However, operating profit fell 1% to €1.24 billion, and EPS dropped 52% to €0.57. The company anticipates free cash flow of approximately €4.5 billion for 2022, reflecting a 38% decrease year-over-year. SAP continues to face challenges from the war in Ukraine, potentially impacting revenues by around €250 million.
SAP SE has announced enhancements to its SuccessFactors Human Experience Management (HXM) Suite during the SuccessConnect event on Sept. 13, 2022. Key features include a skills ontology for continuous skill identification, a growth portfolio for employee attributes, and the introduction of dynamic teams for improved collaboration. These innovations aim to align talent with organizational needs and foster a sense of belonging through features like chosen names and personal pronouns. The updates will be available in Q4 2022.
SAP SE has appointed Dominik Asam as its new CFO and Executive Board member, effective March 7, 2023. Previously CFO at Airbus, Asam brings extensive experience from roles at Goldman Sachs, Siemens, and Infineon Technologies. He will succeed Luka Mucic, who will continue to serve on the Executive Board until March 31, 2023. The Chairman of SAP's Supervisory Board, Hasso Plattner, commended Asam's capability to advance SAP's cloud transformation goals.
SAP SE has announced a definitive agreement with Francisco Partners for the acquisition of SAP Litmos, an established leader in the learning management system market. The transaction, expected to close in Q4 2022, will allow Litmos to operate as an independent company, enhancing its focus on growth and innovation. SAP's ongoing portfolio review indicated an overlap between its SuccessFactors Learning and Litmos solutions, leading to this divestment. Financial terms were not disclosed, but Francisco Partners brings extensive technology investment experience.
SAP SE (NYSE: SAP) has announced a new share repurchase program of up to €500 million, set to run from August 1 to December 31, 2022. This initiative, authorized at the Annual General Meeting on May 17, 2018, will primarily support employee share-based compensation plans. This follows a previous buyback of 14 million shares for approximately €1.5 billion in 2020 and another 10 million shares for about €1 billion in the first half of 2022. The program aims to enhance shareholder value and maintain confidence in the company's future.
SAP SE reported strong cloud revenue growth of 34% in Q2 2022, making it the largest revenue stream for the company. The current cloud backlog exceeded €10 billion, up 34%. However, IFRS operating profit fell 32% due to the impact of the war in Ukraine, leading to a 75% drop in basic earnings per share. Despite challenges, SAP reaffirmed its 2022 revenue outlook of €11.55 billion to €11.85 billion for cloud revenue, maintaining confidence in its cloud transition strategy.