SAP reported €9 billion in revenue for Q2, a 9% year-on-year increase, with operating profit rising to €2.5 billion, up 32% from last year. However, the company warns of global economic uncertainty affecting its performance, particularly in cloud backlog growth. CEO Christian Klein indicated that extended approval workflows are being experienced in certain sectors, notably the US public sector and manufacturing due to tariffs. He acknowledged that a deceleration in current cloud backlog was anticipated and is now materializing, with some uncertainty in forecasts due to affected sectors.
Christian Klein noted that in a few individual industries affected by uncertainty, extended approval workflows are evident, particularly in the US public sector and among manufacturers impacted by tariffs.
Klein emphasized that SAP had anticipated a slight deceleration in the current cloud backlog, acknowledging that this forecast is becoming reality, which was planned for.
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