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SAP 2015 Annual Report

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2015 ANNUAL REPORT Reimagine Your Business To Our Stakeholders Letter from the CEO 1 Created: 31.03.2016 15:16 Key Facts PERFORMANCE SUMMARY € millions, unless otherwise stated 2015 2014 ∆ in % Revenues Cloud subscriptions and support (IFRS) 2,286 1,087 110 Cloud subscriptions and support (non-IFRS) 2,296 1,101 109 Software licenses and support (IFRS) 14,928 13,228 13 Software licenses and support (non-IFRS) 14,930 13,233 13 Cloud and software (IFRS) 17,214 14,315 20 Cloud and software (non-IFRS) 17,226 14,334 20 Services (IFRS = non-IFRS) 3,579 3,245 10 Total revenue (IFRS) 20,793 17,560 18 Total revenue (non-IFRS) 20,805 17,580 18 Applications, Technology & Services Segment revenue 19,126 16,871 13 SAP Business Network Segment revenue 1,614 644 150 Operating expenses Cost of cloud subscriptions and support (IFRS) 1,022 481 112 Cost of cloud subscriptions and support (non-IFRS) 789 393 101 Cost of software licenses and support (IFRS) 2,291 2,076 10 Cost of software licenses and support (non-IFRS) 2,008 1,818 10 Cost of cloud and software (IFRS) 3,313 2,557 30 Cost of cloud and software (non-IFRS) 2,797 2,211 27 Cost of services (IFRS) 3,313 2,716 22 Cost of services (non-IFRS) 3,133 2,590 21 Total cost of revenue (IFRS) 6,626 5,272 26 Total cost of revenue (non-IFRS) 5,930 4,801 24 Research and development (IFRS) 2,845 2,331 22 Profits and Margins Cloud subscriptions and support margin (as a percentage of corresponding revenue, IFRS) 55.3 55.8 –1 Cloud subscriptions and support margin (as a percentage of corresponding revenue, non-IFRS) 65.6 64.3 2 Cloud and software margin (as a percentage of corresponding revenue, IFRS) 80.8 82.1 –2 Cloud and software margin (as a percentage of corresponding revenue, non-IFRS) 83.8 84.6 –1 Services margin (as a percentage of corresponding revenue, IFRS) 7.4 16.3 –54 Services margin (as a percentage of corresponding revenue, non-IFRS) 12.5 20.2 –38 Total gross margin (as a percentage of total revenue, IFRS) 68.1 70.0 –3 € millions, unless otherwise stated 2015 2014 ∆ in % Total gross margin (as a percentage of total revenue, non-IFRS) 71.5 72.7 –2 Applications, Technology & Services Segment gross margin (as a percentage of corresponding 72 73 –1 revenue, IFRS) SAP Business Network Segment gross margin (as a percentage of corresponding revenue, IFRS) 67 66 1 Operating profit (IFRS) 4,252 4,331 –2 Operating profit (non-IFRS) 6,348 5,638 13 Operating margin (as a percentage of total revenue, IFRS) 20.5 24.7 –17 Operating margin (as a percentage of total revenue, non-IFRS) 30.5 32.1 –5 Free cash flow 3,001 2,762 9 Net liquidity –5,615 –7,670 –27 Days' sales outstanding (DSO, in days) 71 65 9 Equity ratio (total equity as a percentage of total assets) 56 51 11 Key SAP Stock Facts Issued shares1) (in millions) 1,229 1,229 0 Earnings per share, basic (in €) 2.56 2.75 –7 Dividend per share2) (in €) 1.15 1.10 5 SAP share price1) (in €) 73.38 58.26 26 Market capitalization1) (in € billions) 90.18 71.60 26 Employees and personnel expenses Number of employees1), 3) 76,986 74,406 3 Personnel expenses per employee – excluding share-based payments (in € thousands) 126 111 13 Women working at SAP (as a percentage) 31 31 0 Women in management1) (total, as a percentage of total number of employees) 23.6 21.3 11 Employee Engagement Index (as a percentage) 81 79 3 Business Health Culture Index4) (as a percentage) 75 72 4 Employee retention (as a percentage) 91.8 93.5 –2 Customer Customer Net Promoter Score5) (as a percentage) 22.4 19.1 17 Environment Net Greenhouse gas emissions (in kilotons) 455 500 –9 Greenhouse gas emissions per employee3) (in tons) 6.0 7.3 –18 Total energy consumption (in GWh) 965 920 5 Energy consumed per employee3) (in kWh) 12,500 13,400 –7 Data center energy consumed (in GWh) 249 179 39 Renewable energy sourced (as a percentage) 100 100 0 1) Numbers based on year-end. 2) 2015 numbers are based on the proposed dividend for 2015 and on 2015 closing level of treasury stock. 3) Full-time equivalents. 4) The BHCI score for 2014 was recalculated from 70% to 72% based on two updated questions in the people survey concerning work-life balance. 5) The 2015 Customer NPS is not fully comparable to the prior year’s score. Contents To Our Stakeholders 3 Letter from the CEO .................................................................. 4 Global Managing Board ............................................................. 8 Investor Relations .................................................................... 10 Corporate Governance Report ................................................14 Report from the Supervisory Board ........................................ 17 Compensation Report ............................................................. 24 Responsibility Statement ........................................................ 39 Auditor’s Opinion ..................................................................... 40 Combined Management Report 42 General Information About This Management Report ......... 43 Overview of the SAP Group .................................................... 44 Strategy and Business Model ................................................ 45 Products, Research & Development, and Services .............. 48 Acquisitions .............................................................................. 54 Partner Ecosystem .................................................................. 55 Customers ................................................................................ 57 Performance Management System ....................................... 59 Employees and Social Investments ...................................... 66 Environmental Performance: Energy and Emissions ........... 71 Financial Performance: Review and Analysis ........................ 74 Corporate Governance Fundamentals .................................. 92 Risk Management and Risks .................................................. 95 Expected Developments and Opportunities ....................... 120 Events after the Reporting Period .........................................127 Consolidated Financial Statements IFRS 128 Notes ....................................................................................... 135 Management’s Annual Report on Internal Control over Financial Reporting in the Consolidated Financial Statements ..................................... 201 Additional Information 202 Five-Year Summary ............................................................... 203 Glossary .................................................................................. 207 Financial Calendar ................................................................. 220 Addresses ............................................................................... 221 Financial and Sustainability Publications ............................ 222 Publication Details ................................................................. 223 2 2015 ANNUAL REPORT To Our Stakeholders Letter from the CEO ............................................................... 4 Global Managing Board ......................................................... 8 Investor Relations ................................................................ 10 Corporate Governance Report ........................................... 14 Report from the Supervisory Board .................................... 17 Compensation Report ......................................................... 24 Responsibility Statement .................................................... 39 Auditor’s Opinion ................................................................. 40 3 Letter from the CEO Dear Stakeholders, The history of SAP was especially meaningful last year as we mourned the loss of Klaus Tschira. More than four decades ago, I’m honored to present the SAP Integrated Report 2015. Hasso Plattner, Dietmar Hopp, Claus Wellenreuther, Hans- Werner Hector and Klaus founded SAP by innovating a new way Six years ago, we charted a bold new course for SAP. We set a for businesses to run better. In honoring Klaus’s memory, we are vision to help the world run better and improve people’s lives. reminded that we stand on the shoulders of giants. As part of We designed a strategy to transform SAP into THE cloud the SAP family, we have a solemn obligation to constantly push company powered by SAP HANA. We redoubled our focus on the boundaries of what’s possible; to be curious and helping businesses grow and prosper in 25 distinctly different courageous; and to never tire of rising beyond the highest industries. expectations for what our company can achieve. Those five partners set a course 44 years ago; we continue to follow it to 2010 was the year we started on this journey. 2015 was the year this day. we proved it is the right one for the stakeholders of SAP – a course that is worthy of the rich traditions of market leadership THE BACKDROP: A FAST-CHANGING DIGITAL ECONOMY that date back to our five original innovators and their audacious In the spirit of design thinking and innovation, the mission of dream for a better way. SAP is always driven by the state of the world. To Our Stakeholders Letter from the CEO 4 The theme of the 2016 World Economic Forum in Davos, We have paved the way to bring simplicity into every aspect of Switzerland, said it all: we live and work in the midst of the enterprise computing – from the legacy IT stack to new, “Fourth Industrial Revolution.” The world is changing faster context-aware applications. As a trusted innovator, we have today than ever.
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