Sap SE - SAP STOCK NEWS

SAP SE (NYSE: SAP) has announced its financial results for the fourth quarter and fiscal year ended December 31, 2023. The company exceeded its non-IFRS operating profit and cash flow outlook for FY 2023. Cloud revenue increased by 20% and 23% at constant currencies for FY 2023, driven by a 25% cloud revenue growth at constant currencies in the fourth quarter. The current cloud backlog stands at €13.7 billion, up 25% and up 27% at constant currencies. IFRS cloud gross profit is up 23%, non-IFRS cloud gross profit is up 23% and up 27% at constant currencies in FY 2023. However, IFRS operating profit is down 5%, while non-IFRS operating profit is up 9% and up 13% at constant currencies in FY 2023. The 2024 outlook anticipates accelerating cloud revenue growth. The company also announced a planned transformation program including restructuring in 2024 to focus on scalability of operations and Business AI. The 2025 non-IFRS operating profit and free cash flow ambition have been updated to reflect the updated non-IFRS definition as well as approximately half a billion Euro of incremental efficiency gains from the program.

SAP has been recognized by Gartner and IDC for its exceptional sustainability performance and solutions offered to customers. The company's ERP-centric solutions help businesses manage sustainability across environmental, social, and governance dimensions, and it's been committed to net-zero emissions by 2030. SAP's comprehensive portfolio is designed to help customers run their business processes and enterprise more efficiently, with offerings such as SAP Business Network, business process transformation solutions, SAP Business Technology Platform (SAP BTP), and the SAP Customer Experience portfolio.

SAP SE (NYSE: SAP) has announced two changes to its Executive Board to enhance cloud growth and adoption. A new Board area will be created to accelerate cloud growth and adoption, led by Thomas Saueressig, while Muhammad Alam will join the Executive Board, succeeding Saueressig and assuming responsibility for SAP's product engineering.

SAP (SAP) is focusing on empowering youth to address climate change challenges through the Green Rising initiative, aiming to engage 10 million youth in grassroots climate action by 2025. The company is collaborating with UNICEF, Generation Unlimited, Goodwall, and Accenture to provide resources, skills, and opportunities for young people to create innovative solutions for a sustainable and just world.

SAP (SAP) celebrates the 75th anniversary of the Universal Declaration of Human Rights, discussing the company's commitment to human rights with its Chief Sustainability Officer and human rights officer.

SAP (SAP) participates in the 28th UN Climate Change Conference (COP28) in Dubai, advocating for ambitious policy action and the adoption of technology for corporate sustainability management. SAP's CEO and Members of the Executive Board, Christian Klein, Julia White, and Sophia Mendelsohn, showcase the company's critical role in advancing sustainability. SAP engages in nearly 70 initiatives during COP28 on various fronts like carbon accounting, climate justice, and the circular economy.

Gonzalez Byass, a Spanish wine producer, is implementing a comprehensive sustainable business strategy and circular economy program in line with the United Nations Sustainable Development Goals (UN SDGs) to address its use of plastic and promote regenerative agriculture. The company is taking steps to minimize the use of plastic, replace it with sustainable alternatives, and recycle 99% of the waste generated. SAP's cloud solution for the circular economy, SAP Responsible Design and Production, is being implemented to help Gonzalez Byass monitor, measure, and act on its plastic data, enabling the company to make informed choices and carry out the critical work of eliminating waste and regenerating natural systems.

Deutsche Bank (DB) Chief Sustainability Officer Discusses Earth Overshoot Day and the Need for System Changes

SAP (NYSE:SAP) announces a focus on sustainable business practices and the importance of technological innovation in driving green technology mainstream. The company emphasizes the need for global partnerships and collaboration to combat climate change and create a low-carbon future.