Financial Data and Key Metrics Changes - The total revenue for the full year approached EUR 37 billion, up 11% year-on-year [33] - Cloud revenue grew 26% year-on-year, primarily driven by the strong performance of the Cloud ERP Suite, which increased by 32% [32][33] - The current cloud backlog reached EUR 21 billion, up 25%, while the total cloud backlog grew 30% to a record EUR 77 billion [31][32] Business Line Data and Key Metrics Changes - The Cloud ERP Suite accounted for 86% of total cloud revenue for the year, highlighting its significance as a growth engine [33] - Software licenses revenue decreased by 27%, indicating a shift in focus towards cloud offerings [33] Market Data and Key Metrics Changes - The U.S. public sector was one of the best-performing businesses in Q4, showing resilience despite geopolitical tensions [41] - The company noted that customers are increasingly exploring sovereign software-as-a-service solutions due to geopolitical factors [31] Company Strategy and Development Direction - The company emphasized its transformation strategy, "RISE and GROW with SAP," as core pillars for large-scale enterprises and mid-sized companies [30] - AI and the Business Data Cloud are becoming significant contributors to customer decisions and deal activity, with large cloud transactions contributing a record 71% to cloud order entry in Q4 [30] - The company plans to further develop its SAP Sovereign Cloud Infrastructure to meet growing demand for sovereignty and resilience in software solutions [39] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's outlook for 2026, despite challenges faced in 2025 due to geopolitical tensions [28][30] - The company anticipates total revenue growth to accelerate, supported by the foundation built in previous years [37] - Management highlighted the importance of reskilling employees to adapt to the changing landscape influenced by AI [24] Other Important Information - The company announced a new two-year share repurchase program of up to EUR 10 billion, reflecting confidence in sustainable business strengths [36] - Free cash flow for the full year was EUR 8.2 billion, at the high end of the revised outlook range, indicating strong cash management [35] Q&A Session Summary Question: Are there hurdles in the U.S. due to geopolitical tensions? - Management noted that the U.S. public sector performed well in Q4, and customers are less concerned about the origin of the software as long as it meets regulatory standards [41] Question: Are solutions intended to replace non-European providers? - Management clarified that the focus is on competitiveness and delivering stronger AI solutions rather than replacing specific providers [43] Question: How do U.S. tariffs affect the business? - Management stated there are no direct tariffs on software or services, and the company hopes this remains the case [58] Question: Why is the company starting a share buyback program instead of investing in future revenue? - Management explained that share buybacks are part of a strategy to return capital to shareholders while maintaining flexibility for future investments in technology [59][60]

Financial Data and Key Metrics Changes - The total revenue for the full year approached EUR 37 billion, up 11% year-on-year [34] - Cloud revenue grew 26% year-on-year, primarily driven by the strong performance of the Cloud ERP Suite, which increased by 32% [32][34] - The current cloud backlog reached EUR 21 billion, up 25%, while the total cloud backlog grew 30% to a record EUR 77 billion [31][32] Business Line Data and Key Metrics Changes - The Cloud ERP Suite accounted for 86% of total cloud revenue for the year, highlighting its position as a key engine of growth [34] - Software licenses revenue decreased by 27%, indicating a shift in focus towards cloud offerings [34] Market Data and Key Metrics Changes - The company reported a significant increase in deal volumes greater than EUR 5 million, contributing a record 71% to cloud order entry in Q4 [30] - The public cloud business was growing five times faster than the private cloud business, showcasing the success of the cloud transformation [5] Company Strategy and Development Direction - The company emphasized its transformation strategy, "RISE and GROW with SAP," as core pillars for large-scale enterprises and high-growth mid-sized companies [30] - AI and the Business Data Cloud are emerging as meaningful contributors to customer decisions and deal activity, with a focus on enhancing customer value [30][40] - The company aims to leverage its strong position in the market to address the growing demand for sovereign software-as-a-service solutions [31][40] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's outlook for 2026, despite geopolitical tensions impacting business [28][39] - The company anticipates total revenue growth to accelerate, supported by the foundation built in previous years [38] - Management acknowledged the challenges faced in 2025 but highlighted the resilience demonstrated in cloud revenue performance [52] Other Important Information - The company plans to initiate a two-year share repurchase program of up to EUR 10 billion, reflecting confidence in sustainable business strengths [37] - Free cash flow for the full year was approximately EUR 8.2 billion, at the high end of the revised outlook range [36] Q&A Session Summary Question: Are there hurdles in the U.S. due to geopolitical tensions? - Management noted that the U.S. public sector performed well in Q4, with customers less concerned about the origin of the software as long as regulatory standards are met [43][44] Question: Are solutions intended to replace offerings from non-European providers? - Management clarified that the focus is on competitiveness and delivering stronger AI solutions rather than replacing non-European offerings [45] Question: How do U.S. tariffs affect the business? - Management stated there are no direct tariffs on software or services, and the indirect impact has been manageable, with Q4 showing strong performance in the U.S. public sector [61] Question: Why initiate a share buyback program instead of investing in future revenue? - Management explained that share buybacks are part of a balanced approach to capital returns, and future M&A opportunities will be considered for technological advancements [63][64]

Financial Data and Key Metrics Changes - Total revenue for the full year approached EUR 37 billion, up 11% year-on-year [33] - Cloud revenue grew 26% year-on-year, primarily driven by the strong performance of Cloud ERP Suite, which increased by 32% [32][33] - Non-IFRS basic earnings per share increased by 36% to €6.15 [37] - Free cash flow for the full year was EUR 8.2 billion, at the high end of the revised outlook range [36] Business Line Data and Key Metrics Changes - Cloud ERP Suite accounted for 86% of total cloud revenue for the year, highlighting its importance as a growth engine [33] - Software licenses revenue decreased by 27%, indicating a shift in focus towards cloud solutions [33] - The current cloud backlog reached EUR 21 billion, up 25%, while total cloud backlog grew 30% to a record EUR 77 billion [31][32] Market Data and Key Metrics Changes - The public cloud business grew five times faster than the private cloud business, showcasing a significant shift in customer preferences [5] - The company reported its best bookings result in Q4, contributing to a strong finish for the year [3][10] Company Strategy and Development Direction - The company emphasizes AI and the Business Data Cloud as core components of its transformation strategy, aiming to enhance customer decision-making and deal activity [30] - The strategy includes a focus on large-scale enterprises and high-growth mid-sized companies undergoing complex transformations [30] - The company plans to further develop its SAP Sovereign Cloud Infrastructure to meet growing demand for sovereign software solutions [40] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to navigate geopolitical tensions and emphasized the importance of operational discipline [29][39] - The outlook for 2026 includes expectations for total revenue growth to accelerate, supported by the foundation built in 2025 [38] - Management acknowledged the challenges faced in 2025 but highlighted the resilience demonstrated in cloud revenue performance [51] Other Important Information - The company announced a new two-year share repurchase program of up to EUR 10 billion, reflecting confidence in sustainable business strengths [36][37] - The company is committed to reskilling its workforce to adapt to the changing landscape influenced by AI [25] Q&A Session Questions and Answers Question: Are there hurdles in the U.S. due to growing tensions between countries? - Management noted that the U.S. public sector performed well in Q4, with customers less concerned about the origin of the software as long as regulatory standards are met [42][43] Question: Are solutions intended to diversify or replace offerings from non-European providers? - Management clarified that the focus is on competitiveness rather than replacing non-European offerings, emphasizing the need for stronger AI capabilities [44] Question: How do geopolitical tensions impact the business outlook? - Management indicated that the 2025 environment is considered the new normal, with resilience shown despite geopolitical challenges [51][52] Question: What is the rationale behind the share buyback program? - Management explained that share buybacks are part of a balanced approach to capital returns, alongside potential future M&A for technological advancements [60][62]

Deutsche Bank Investor Relations Q4/FY 2025 results January 29, 2026 Delivering on 2025 goals sets firm foundation to scale the Global Hausbank FY 2025 € 32bn revenue ambition achieved with continued business momentum Executed € 2.5bn operational efficiencies and self-funded transformation Achieved sustainable profitability through positive operating leverage Notes: throughout this presentation totals may not sum due to rounding differences and percentages may not precisely reflect the absolute figures; for ...

STMicroelectronics (NYSE:STM) Q4 2025 Earnings call January 29, 2026 03:30 AM ET Company ParticipantsAndrew Gardiner - Managing Director and Head of European Technology Equity ResearchDomenico Ghilotti - Co-Head of ResearchFrançois-Xavier Bouvignies - Equity Research Executive DirectorJean-Marc Chéry - President and CEOJoshua Buchalter - Managing Director of Equity ResearchJérôme Ramel - EVP Corporate Development and Integrated External CommunicationLorenzo Grandi - President and CFOStéphane Houri - Head of ...

STMicroelectronics (NYSE:STM) Q4 2025 Earnings call January 29, 2026 03:30 AM ET Company ParticipantsAndrew Gardiner - Managing Director and Head of European Technology Equity ResearchDomenico Ghilotti - Co-Head of ResearchFrançois-Xavier Bouvignies - Equity Research Executive DirectorJean-Marc Chéry - President and CEOJoshua Buchalter - Managing Director of Equity ResearchJérôme Ramel - EVP Corporate Development and Integrated External CommunicationLorenzo Grandi - President and CFOStéphane Houri - Head of ...

It should be noted that Nokia and its business are exposed to various risks and uncertainties and certain statements herein that are not historical facts are forward-looking statements. These forward-looking statements reflect Nokia's current expectations and views of future developments and include statements preceded by "believe", "expect", "expectations", "commit", "anticipate", "foresee", "see", "target", "estimate", "designed", "aim", "plan", "intend", "influence", "assumption", "focus", "continue", "p ...

STMicroelectronics (NYSE:STM) Q4 2025 Earnings call January 29, 2026 03:30 AM ET Speaker3Ladies and gentlemen, welcome to the STMicroelectronics Full Year 2025 Earnings Release Conference Call and Live Webcast. I am Sandra, the Chorus Call operator. I would like to remind you that all participants are in listen-only mode and the conference is being recorded. The presentation will be followed by a Q&A session. You can register for questions at any time by pressing Star and 1 on your telephone. For operator a ...

ING Groep (NYSE:ING) Q4 2025 Earnings call January 29, 2026 03:00 AM ET Company ParticipantsBenjamin Goy - Managing DirectorBenoît Pétrarque - Head of Thematic Banking ResearchSeamus Murphy - Head of ResearchSteven van Rijswijk - CEOTanate Phutrakul - CFOConference Call ParticipantsAnke Reingen - Banks AnalystChris Hallam - Senior Equity AnalystCyril Toutounji - Equity AnalystDelphine Lee - Research AnalystFarquhar Murray - Senior AnalystGiulia Miotto - Equity AnalystJohan Ekblom - Research AnalystMatthew C ...

ING Groep (NYSE:ING) Q4 2025 Earnings call January 29, 2026 03:00 AM ET Company ParticipantsBenjamin Goy - Managing DirectorBenoît Pétrarque - Head of Thematic Banking ResearchSeamus Murphy - Head of ResearchSteven van Rijswijk - CEOTanate Phutrakul - CFOConference Call ParticipantsAnke Reingen - Banks AnalystChris Hallam - Senior Equity AnalystCyril Toutounji - Equity AnalystDelphine Lee - Research AnalystFarquhar Murray - Senior AnalystGiulia Miotto - Equity AnalystJohan Ekblom - Research AnalystMatthew C ...