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SAP SE

Investor Presentation • Nov 19, 2008

365_ip_2008-11-19_49ed7cac-7433-4d12-96a4-ac7e45c1d8e3.pdf

Investor Presentation

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Léo Apotheker Co-CEO

Morgan Stanley 8th Annual TMT Conference Barcelona –November 19th 2008

Safe Harbor Statement

Any statements contained in this document that are not historical facts are forwardlooking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. Words such as "believe," "estimate," "intend," "may," "will," "expect," and "project" and similar expressions as they relate to the Company are intended to identify such forward-looking statements. The Company undertakes no obligation to publicly update or revise any forward-looking statements. All forward-looking statements are subject to various risks and uncertainties that could cause actual results to differ materially from expectations. The factors that could affect the Company's future financial results are discussed more fully in the Company's filings with the U.S. Securities and Exchange Commission (the "SEC"), including SAP's most recent Annual Report on Form 20-F filed with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forwardlooking statements, which speak only as of their dates.

SAP – The World's Leading Provider of Business Application Software

The world's leading provider of business application software

  • ~76,000 customers in 120 countries
  • Broad global reach provides regional balance and a greater addressable market
  • Undisputed market leader
  • Recognized global brand

Strongest product portfolio based on an open technology platform

  • Leading product and technology innovation with ~15,000 developers
  • First to market with next generation enterprise SOA architecture
  • Deepest industry functionality with 24 industry solutions

SAP – The World's Leading Provider of Business Application Software

Strong financial performance and market leadership

  • Long-term revenue growth, margin expansion and strong cash flow generation
  • Steadily increasing market share increase of 6.5pp year on year
  • +3.3pp from organic growth
  • +3.2pp from acquisition of Business Objects

* Basedon US-GAAP; in EUR million, unless stated otherwise

1998

** Relevant Core Enterprise Application Software & Software Related Services Market ©SAP 2008 / Page 5

The Market LeaderChallenging Environment

Financial Highlights Nine Months 2008 –Non-GAAP

A Challenging Global Macroeconomic Environment

Acceleration of financial crisisin the2nd half of September

  • Acceleration of the financial crisis in the 2nd half of September resulted in rapid deterioration of the macroeconomic environment
  • SME business affected most
  • Significant number of deals did not close at the end of Q3
  • SAP delivered its 19th consecutive quar ter of double digit growt h in SSRS revenues*
  • Strong contribution from Business Objects solution s
  • Sales pipeline remains strong, but closure rates are very hard to predict in this environment
  • SAP updated its 2008 outlook to reflect its focus on protecting margin and earnings in an uncertain economic environment

SAP 2008 / Page 8 Sources: Bloomberg, Institute for Supply

Regional Performance Q3 2008

Americas(+26%)*

  • U.S.: +23%*
  • Good demand from new customers
  • High win rates
  • Strong sales of Business Objects products
  • Continued strength in Latin America and Canada, Brazil performed well
  • Crisis felt most in the U.S.

EMEA (+19%)*

  • Germany: + 20%*
  • High win rates
  • Business Objects performed well
  • Pockets of strength Germany, southern Europe, Nordics
  • Softness i n Russia, UK and France

APJ (+24%)*

  • Japan: +11%*
  • Customers still spending
  • Quarter driven by large enterprise deals
  • Drop in growth rates for SME due to financial crisis
  • China and India continued to perform well
  • Softness in SME business

* Year-over-year software and software-related service (SSRS) revenue growth, non-GAAP, at constantcurrencies

Challenging EnvironmentSAP is Prepared

Strong Recurring Revenue Streams and Careful Expense Management

Operating expenses by category in %

SAP has a stable revenue base

  • Share of recurring support and subscription revenues around 40% in 2007
  • Steadily increasing share of rec urring revenues provides stability
  • Diversified revenue streams acr oss geographies and industries
  • SAP expects to take market share in a tough environment

SAP will manage its cost base carefully to protect profitability

  • SAP will seek the best possible balance between profitability and innovation
  • Updated 2008 outlook reflects focus on protecting margins
  • In Q4 2008 SAP expects to reduce its expenses by ~€200 million relative to the original planning

SAP is Prepared To Turn Challenge into Opportunity

Executing on SAP's Strategy

Significant Momentum in Strategic Areas

SAP can Emerge from the Downturn with an even Stronger Competitive Position

  • Low total cost of ownership
  • Short time-to-value & v alue engineering
  • Low-risk implementations
  • High vendor reliability and financial stability
  • Tight out-of-the-box integration, within and between companies
  • Highest support quality and most comprehensive support concept
  • Excellent customer access and relationship of trust / strategic vendor
  • Unmatched industry expertise and multiindustry capability
  • Broadest and deepest solution portfolio of the industry
  • Leading SOA architectu re and high solution flexibility, unique enhance ment packag etechnology
  • Open business process platfor m with consistent technology and semantics
  • Broadest ecosystem of partners

SAP expects 2009 to be a challenging year for the world economy

SAP will seek the best possible balance between profitability and innovation

  • Top priority will be protecting the margin
  • SAP will continue to deliver innovation to support customers in the current environment and to be prepared for further growth opportunities

SAP's solution portfolio is more competitive than ever

  • SAP's service-oriented architecture solution portfolio has reached an unmatched level of functional comprehensiveness, integration and quality
  • SAP can help its customers streamline operations and find innovative ways of doing business

SAP can emerge from the downturn stronger than before

SAP has significant competitive advantages which will become even more evident in times of economic uncertainty

APPENDIX

1.Enterprise Support

2.Q3 & 9M 2008 Financials

SAP Enterprise Support takes IT support to the next level

  • Next-generation support offering "Enterprise Support" sets new industry benchmark in customer support
  • SAP is committed to deliver value to its existing and new customers and further reduce their total cost of ownership
  • SAP collaborates closely withSUGEN (SAP User Group Executi veNetwork) to optimize value deliveredto customers through Enterprise Support
  • SAP Enterprise Support includes support for solution configuration and operation content
  • Enhancement Package technology enables customers to deploy new functionality withoutdisruption to operations and at a minimum cost

* 7-2 strategy applies to ne w releases of the core applications of SAP Business Suite, starting with SAP CRM 7.0, SAP S RM 7.0, SAP S CM 7.0, SAP PL M 7.0; plus SAP ERP 6.0 (E HP4) and SAP NetWeaver 7.0. Industry-specific add-on applications and SAP enhancement packages based on these core application releases will offer mainstrea m and extended maintenancein line with these releases.

** Enhancement Packages: Illustrative only; does not reflect exact ship ment times and frequency.

1.Enterprise Support

2.Q3 & 9M 2008 Financials

Income Statement OverviewThird Quarter 2008 (Non-GAAP)

Q32008€millionsQ3 2008*€millionsQ32007€millionsconstantcurrency Software revenueSoftware and software-related service revenueTotal revenue7632,035 2,802 7912,113 2,913 7141,735 2,419 71716112220Total operating expenses Operating income Operating margin (in %) -2,071 73126.1-2,147 76626.3-1,795 62425.815170.3pp 20230.5 pp Financial income/expense, net Income from continuing operations before income taxesIncome taxesIncome from continuing operations Net income-19719-22249647533656-230425419-15810-31713EPS from continuing operations (basic, in €) EPS from net i ncome (basic, in €) 0.410.400.360.351414%Non-GAAP%

* % currency adjuste d –actuals2008 converted with the exchange rates of 2007

Income Statement OverviewNine Months 2008 (Non-GAAP)

Non-GAAP
9M
2008
$\epsilon$ millions		 9M
2008*
$\epsilon$ millions		 9M
2007
$\epsilon$ millions		 Δ% Δ%
constant
currency
Software revenue
Software and software-related service revenue
Total revenue		 2,283
5,931
8,219		 2,417
6,241
8,652		 1,992
4,954
7,002		 15
20
17		 21
26
24
Total operating expenses
Operating income
Operating margin (in %)		 $-6,288$
1,931
23.5		 $-6,577$
2,075
24.0		 $-5,337$
1,665
23.8		 18
16
$-0.3$ pp		 23
25
$0.2$ pp
Financial income/expense, net
Income from continuing operations
before income taxes
Income taxes
Income from continuing operations
Net income		 $-34$
1,922
$-583$
1,338
1,309		 103
1,760
$-552$
1,205
1,193		 $-133$
9
6
11
10 °
EPS from continuing operations (basic, in $\epsilon$ )
EPS from net income (basic, in $\epsilon$ )		 1.12
1.10		 1.00
0.99		 12
11

* % currency adjuste d –actuals2008 converted with the exchange rates of 2007

Group Sales by Revenue Type Third Quarter 2008 (Non-GAAP)

Q32008€millionsQ3 2008*€millionsQ32007€millionsconstantcurrency Software revenue Support revenue Subscriptions and other software-rel. serv. SW & SW-related service revenue7631,208 642,035 7911,257 652,113 714975461,735 724391711294122Consulting revenue Training revenue Other services revenue Professional services revenue617105267486451092778154410228674133-711197-416Other revenue 19 19 10 90 90 Total revenue 2,802 2,913 2,419 16 20 Non-GAAP%%

* % currency adjuste d –actuals2008 converted with the exchange rates of 2007

Group Sales by Revenue Type Nine Months 2008 (Non-GAAP)

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Gross Margin Analysis Third Quarter 2008 (U.S. GAAP and Non-GAAP)

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l
d
d
i
i
i
t
t
e
n
e
r
a
a
n
a
m
n
s
r
a
o
n
%
f
l
t
t
a
s
o
o
a
r
e
e
n
e
v
u
-		 1
6
5
-
5
7		 1
2
1
-
0
5		 2
9
0
7
p
p		 1
5
5
-
5
5		 1
2
1
-
0
5		 2
8
0
5
p
p
O
/
h
i
i
t
t
e
r
o
p
e
r
a
n
g
n
c
o
m
e
e
p
e
n
s
e
s
x		 5 4 2
5		 5 4 2
5
T
l
i
t
t
o
a
o
p
e
r
a
n
g
e
x
p
e
n
s
e
s		 2
1
4
7
-
,		 1
8
1
3
-
,		 1
8		 2
0
7
1
-
,		 1
7
9
5
-
,		 1
5

Cost Analysis Nine Months 2008 (U.S. GAAP and Non-GAAP)

U
S
G
A
A
P		 N
9
M
2
0
0
8
€
i
l
l
i
m
o
n
s		 9
M
2
0
0
7
€
i
l
l
i
m
o
n
s		 % M
9
2
0
0
8
€
i
l
l
i
m
o
n
s		 M
9
2
0
0
7
€
i
l
l
i
m
o
n
s		 %
R
h
d
d
l
t
e
s
e
a
r
c
a
n
e
v
e
o
p
m
e
n
f
%
l
t
t
a
s
o
o
a
r
e
e
n
e
v
u
-		 1
2
3
6
-
,
1
3
5		 1
0
4
9
-
,
1
0
5		 1
8
0
3
p
p		 1
2
1
8
-
,
1
4
8		 1
0
4
8
-
,
1
0
5		 1
6
0
2
p
p
-
S
l
d
k
i
t
a
e
s
a
n
m
a
r
e
n
g
f
%
l
t
t
a
s
o
o
a
r
e
v
e
n
u
e
-		 1
9
1
2
-
,
2
3
7		 1
2
3
5
-
,
2
1
8		 2
6
1
9
p
p		 1
8
4
8
-
,
2
2
5		 1
2
0
5
-
,
2
1
7		 2
2
0
8
p
p
G
l
d
d
i
i
i
t
t
e
n
e
r
a
a
n
a
m
n
s
r
a
o
n
%
f
l
t
t
a
s
o
o
a
r
e
e
n
e
v
u
-		 4
7
7
-
9
5		 3
6
7
-
2
5		 3
0
0
7
p
p		 4
6
7
-
8
5		 3
6
7
-
2
5		 3
0
0
6
p
p
O
/
h
i
i
t
t
e
r
o
p
e
r
a
n
g
n
c
o
m
e
e
p
e
n
s
e
s
x		 9 1
0		 1
0
-		 9 1
0		 1
0
-
T
l
i
t
t
o
a
o
p
e
r
a
n
g
e
x
p
e
n
s
e
s		 6
5
1
3
-
,		 5
3
7
9
-
,		 2
1		 6
2
8
8
-
,		 5
3
3
7
-
,		 1
8
2
0
0
8
€
i
l
l
i
m
o
n
s		 l
v
o
u
m
e		 c
u
r
r
e
n
c
y		 2
0
0
7
€
i
l
l
i
m
o
n
s
Q
T
l
i
1
t
t
o
a
o
p
e
r
a
n
g
e
p
e
n
s
e
s
x		 2
0
1
8
,		 3
9
5
+		 9
2
-		 1
7
1
5
,
Q
2
T
l
i
t
t
o
a
o
p
e
r
a
n
g
e
x
p
e
n
s
e
s		 2
1
9
9
,		 4
9
3
+		 1
2
1
-		 1
8
2
7
,
Q
T
l
i
3
t
t
o
a
o
p
e
r
a
n
g
e
p
e
n
s
e
s
x		 2
0
7
1
,		 3
5
2
+		 7
6
-		 1
7
9
5
,
T
l
i
t
t
o
a
o
p
e
r
a
n
g
e
p
e
n
s
e
s
x		 6
2
8
8
,		 1
2
4
0
+
,		 2
8
9
-		 3
3
5
7
,

Balance Sheet Summary Third Quarter 2008 (U.S. GAAP)

Shareholders' Equity & Liabilities*

/
/
9
3
0
0
8		 /
/
2
3
0
1
1
7		 %
D
l
d
i
(
D
S
O
)
t
t
a
y
s
s
a
e
s
o
u
s
a
n
n
g		 d
6
9
a
y
s		 d
6
6
a
y
s		 d
3
+
a
y
s
E
i
i
t
t
q
r
a
o
u
y		 4
8
%		 6
3
%		 1
5
p
p
-
9
M
2
0
0
8
€
i
l
l
i
m
o
n
s		 9
M
2
0
0
7
€
i
l
l
i
m
o
n
s		 %
O
i
h
f
l
t
p
e
r
a
n
g
c
a
s
o
w
C
i
l
d
i
t
t
a
p
a
e
x
p
e
n
u
r
e
–		 1
9
7
0
,
2
4
4
-		 1
3
4
4
,
2
9
4
-		 4
7
1
7
-
F
h
f
l
r
e
e
c
a
s
o
w		 1
2
6
7
,		 1
0
0
5
,		 6
4
F
h
f
l
f
l
%
t
t
r
e
e
c
a
s
o
a
s
a
o
o
a
r
e
e
n
e
w
v
u		 2
1		 1
5		 6
p
p

Headcount* as of September 30, 2008 Continuing Operations Only – Nine Months 2008

9
M		 9
M
/
9
2
0
0
8		 /
2
2
0
0
1
7		 /
9
2
0
0
7		 T
l
t
o
a		 T
h
f
e
r
e
o
a
c
q
n
s.		 %
T
t
l
o
a		 %
l.
Ex
c
a
c
q
n
s.
H
d
b
R
i
t
e
a
c
o
n
e
g
o
n
u
y
E
M
E
A
−
A
i
m
e
r
c
a
s
−
A
i
P
i
f
i
J
s
a
a
c
c
a
p
a
n
−		 2
6
6
4
7
,
1
3
7
9
3
,
1
1
3
0
6
,		 2
3
6
4
5
,
1
0
6
2
9
,
9
5
7
8
,		 2
3
2
2
9
,
1
0
3
9
6
,
8
9
7
6
,		 3
1
1
0
,
3
1
6
4
,
1
7
2
8
,		 2
2
6
2
,
3
3
2
9
,
9
0
0		 1
3
3
0
1
8		 4
2
-
9
H
d
b
F
i
l
A
t
t
e
a
c
o
n
n
c
o
n
a
r
e
a
u
y
u
S
S
W
d
W
l.
i
a
n
-r
e
s
e
r
c
e
s
v
−
P
f.
d
h
t
r
o
s
v
s
a
n
o
e
r
s
v
s
−
R
h
d
d
l
t
e
s
e
a
r
c
a
n
e
v
e
o
p
m
e
n
−
S
l
d
k
i
t
a
e
s
a
n
m
a
r
e
n
g
−
G
l
d
d
i
i
i
t
t
e
n
e
r
a
a
n
a
m
n
s
r
a
o
n
−
I
f
t
t
n
r
a
s
r
u
c
u
r
e
−		 6
4
5
7
,
1
4
1
9
3
,
1
5
4
5
8
,
1
0
9
0
9
,
3
3
0
3
,
1
5
4
3
,		 8
3
1
5
,
1
2
7
8
5
,
1
2
9
5
1
,
8
2
8
2
,
2
7
9
7
,
1
2
1
5
,		 1
6
5
7
,
1
2
4
7
0
,
1
2
5
3
2
,
8
0
3
5
,
2
6
7
4
,
1
1
7
4
,		 6
2
6
1
4
0
8
,
2
5
0
7
,
2
6
2
7
,
5
0
6
3
2
8		 6
0
4
1
0
3
5
,
1
8
5
1
,
2
1
8
4
,
4
0
5
2
7
6		 1
1
1
1
1
9
3
2
1
8
2
7		 0
3
5
5
1
-
4
G
r
o
p
u		 5
1
8
6
3
,		 4
3
8
6
1
,		 4
2
6
0
1
,		 8
0
0
2
,		 6
4
9
1
,		 1
8		 3
N
h
t
t
e
g
r
o
w
N
h
t
t
e
g
r
o
w
(
lu
d
i
i
i
i
)
t
e
x
c
n
g
a
c
q
u
s
o
n
s		 8
0
0
2
,
1
5
1
1
,

* in full-time equivalents

Headcount* as of September 30, 2008 – Cont'dContinuing Operations Only – Nine Months 2008

in full-time equivalents | % 9 M

thereof acquisitions 1,03

5

* in full-time equivalents

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