SAP SE CFO Dominik Asam explains that SAP's growth comes primarily from the adoption of AI and transformation to the cloud, driving a 25% increase in cloud revenues on a constant currency basis. Expected subscription revenues over the next 12 months have increased by 28%. SAP's Cloud ERP suite is at the heart of this growth, with an increase of more than 30% for nine consecutive quarters.

AI applications in the cloud cover a wide range of areas such as HR, finance and supply chain. SAP has introduced around 30 AI use cases and plans to launch 100 more, with more than 27,000 customers using these solutions. These tools are helping to improve productivity and combat wage inflation.

SAP is gaining market share, particularly with its Cloud ERP suite, which is growing more than twice as fast as the overall market. Growth is being driven both by the replacement of in-house solutions and by competition from other major players in the market, as well as by the conversion of on-premise customers to cloud customers.

Regarding expansion in China, despite concerns about the performance of other technology companies, SAP sees opportunities for growth but remains focused on other markets that are more influential to its business. The company is experiencing strong growth in Asia-Pacific excluding China, Europe and the US, the latter being its largest market.


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