For 2024, SAP (SAP) is updating its cloud and software revenue, operating profit and free cash flow outlook and now expects: EUR 29.5 – 29.8 billion cloud and software revenue at constant currencies (2023: EUR 26.92 billion), up 10% to 11% at constant currencies, raising the midpoint by EUR 400 million. The previous range was EUR 29.0 – 29.5 billion at constant currencies. EUR 7.8 – 8.0 billion non-IFRS operating profit at constant currencies (2023: EUR 6.51 billion), up 20% to 23% at constant currencies, raising the midpoint by EUR 150 million. The previous range was EUR 7.6 – 7.9 billion at constant currencies. EUR 3.5 – 4.0 billion free cash flow (2023: EUR 5.09 billion). The previous outlook was approximately EUR 3.5 billion. SAP continues to expect: EUR 17.0 – 17.3 billion cloud revenue at constant currencies (2023: EUR 13.66 billion), up 24% to 27% at constant currencies. An effective tax rate of approximately 32% (2023: 30.3%).
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