Technology
SAP Announces Q4 and FY 2024 Results
Published
2 years agoon
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SAP meets or exceeds all financial outlook parameters for FY2024Current cloud backlog of €18.1 billion, up 32% and up 29% at constant currenciesTotal cloud backlog of €63.3 billion, up 43% and up 40% at constant currenciesCloud revenue up 25% and up 26% at constant currencies in FY2024Cloud ERP Suite revenue up 33% and up 34% at constant currencies in FY2024Total revenue up 10% and up 10% at constant currencies in FY2024IFRS operating profit down 20%, non-IFRS operating profit up 25% and up 26% at constant currencies in FY20242025 outlook anticipates accelerating cloud revenue growth
WALLDORF, Germany, Jan. 28, 2025 /PRNewswire/ — SAP SE (NYSE: SAP) announced today its financial results for the fourth quarter and fiscal year ended December 31, 2024.
Christian Klein, CEO:
Q4 was a strong finish to the year, with half of our cloud order entry including AI. Looking at the full year, we exceeded our cloud goals, accelerating cloud revenue and current cloud backlog growth against a much larger base. Total cloud backlog now stands at €63 billion, up 40%. Revenue growth has returned to double-digits. Looking ahead, our strong position in data and Business AI gives us additional confidence that we will accelerate revenue growth through 2027.
Dominik Asam, CFO:
We are pleased with the strong close to 2024, where we exceeded our cloud and software revenue, non-IFRS operating profit, and free cash flow outlook. With current cloud backlog growth of 29%, we’ve demonstrated the strength of our strategy and our ability to deliver on our commitments. This progress solidly aligns with the Ambition 2025 we set four years ago and positions us well for continued growth this year and beyond.
Financial Performance
Group results at a glance – Fourth quarter 2024
IFRS
Non-IFRS1
€ million, unless otherwise stated
Q4 2024
Q4 2023
∆ in %
Q4 2024
Q4 2023
∆ in %
∆ in %
const. curr.
SaaS/PaaS
4,585
3,515
30
4,585
3,515
30
30
Thereof Cloud ERP Suite2
3,949
2,931
35
3,949
2,931
35
35
Thereof Extension Suite3
636
584
9
636
584
9
6
IaaS4
123
184
–33
123
184
–33
–33
Cloud revenue
4,708
3,699
27
4,708
3,699
27
27
Cloud and software revenue
8,267
7,382
12
8,267
7,382
12
11
Total revenue
9,377
8,468
11
9,377
8,468
11
10
Share of more predictable revenue (in %)
81
77
4pp
81
77
4pp
Cloud gross profit
3,429
2,658
29
3,458
2,669
30
29
Gross profit
6,943
6,204
12
6,972
6,216
12
12
Operating profit (loss)
2,016
1,902
6
2,436
1,969
24
24
Profit (loss) after tax from continuing operations
1,616
1,201
35
1,619
1,302
24
Profit (loss) after tax5
1,616
1,201
35
1,619
1,302
24
Earnings per share – Basic (in €) from continuing operations
1.37
1.05
31
1.40
1.12
24
Earnings per share – Basic (in €)5
1.37
1.05
31
1.40
1.12
24
Net cash flows from operating activities from continuing operations
–551
1,926
NA
Free cash flow
–918
1,670
NA
1 For a breakdown of the individual adjustments see table “Non-IFRS Operating Expense Adjustments by Functional Areas” in this Quarterly Statement.
2 Cloud ERP Suite references the portfolio of strategic Software-as-a-Service (SaaS) and Platform-as-a-Service (PaaS) solutions that are tightly integrated with our core ERP solutions and are included in key commercial packages, such as RISE with SAP. The following offerings contribute to Cloud ERP Suite revenue: SAP S/4HANA Cloud, SAP Business Technology Platform, and core solutions for HR and payroll, spend management, commerce, customer data solutions, business process transformation, and working capital management. For additional information and historical data on Cloud ERP Suite, see SAP’s Reporting Framework.
3 Extension Suite references SAP’s remaining SaaS and PaaS solutions that supplement and extend the functional coverage of the Cloud ERP Suite.
4 Infrastructure as a service (IaaS): The major portion of IaaS comes from SAP HANA Enterprise Cloud.
5 From continuing and discontinued operations.
Group results at a glance – Full year 2024
IFRS
Non-IFRS1
€ million, unless otherwise stated
Q1–Q4
2024
Q1–Q4
2023
∆ in %
Q1–Q4
2024
Q1–Q4
2023
∆ in %
∆ in %
const. curr.
SaaS/PaaS
16,601
12,916
29
16,601
12,916
29
29
Thereof Cloud ERP Suite revenue2
14,166
10,626
33
14,166
10,626
33
34
Thereof Extension Suite revenue3
2,435
2,290
6
2,435
2,290
6
6
IaaS4
540
748
–28
540
748
–28
–27
Cloud revenue
17,141
13,664
25
17,141
13,664
25
26
Cloud and software revenue
29,830
26,924
11
29,830
26,924
11
11
Total revenue
34,176
31,207
10
34,176
31,207
10
10
Share of more predictable revenue (in %)
83
81
3pp
83
81
3pp
Cloud gross profit
12,481
9,780
28
12,559
9,821
28
28
Gross profit
24,932
22,534
11
25,011
22,603
11
11
Operating profit (loss)
4,665
5,799
–20
8,153
6,514
25
26
Profit (loss) after tax from continuing operations
3,150
3,600
–13
5,279
4,321
22
Profit (loss) after tax5
3,150
5,964
–47
5,279
6,103
–13
Earnings per share – Basic (in €) from continuing operations
2.68
3.11
–14
4.53
3.72
22
Earnings per share – Basic (in €)5
2.68
5.26
–49
4.53
5.51
–18
Net cash flows from operating activities from continuing operations
5,220
6,210
–16
Free cash flow
4,113
5,093
–19
1 For a breakdown of the individual adjustments see table “Non-IFRS Operating Expense Adjustments by Functional Areas” in this Quarterly Statement.
2 Cloud ERP Suite references the portfolio of strategic Software-as-a-Service (SaaS) and Platform-as-a-Service (PaaS) solutions that are tightly integrated with our core ERP solutions and are included in key commercial packages, such as RISE with SAP. The following offerings contribute to Cloud ERP Suite revenue: SAP S/4HANA Cloud, SAP Business Technology Platform, and core solutions for HR and payroll, spend management, commerce, customer data solutions, business process transformation, and working capital management. For additional information and historical data on Cloud ERP Suite, see SAP’s Reporting Framework.
3 Extension Suite references SAP’s remaining SaaS and PaaS solutions that supplement and extend the functional coverage of the Cloud ERP Suite.
4 Infrastructure as a service (IaaS): The major portion of IaaS comes from SAP HANA Enterprise Cloud.
5 From continuing and discontinued operations.
Financial Highlights1
Fourth Quarter 2024
In the fourth quarter, current cloud backlog grew by 32% to €18.08 billion and was up 29% at constant currencies. Cloud revenue was up 27% to €4.71 billion and up 27% at constant currencies, fueled by Cloud ERP Suite revenue, which was up 35% to €3.95 billion and up 35% at constant currencies.
Software licenses revenue decreased by 18% to €0.68 billion and was down 19% at constant currencies. Cloud and software revenue was up 12% to €8.27 billion and up 11% at constant currencies. Services revenue was up 2% to €1.11 billion and up 2% at constant currencies. Total revenue was up 11% to €9.38 billion and up 10% at constant currencies.
The share of more predictable revenue increased by 4 percentage points to 81% in the fourth quarter.
IFRS cloud gross profit was up 29% to €3.43 billion. Non-IFRS cloud gross profit was up 30% to €3.46 billion and was up 29% at constant currencies. IFRS Cloud gross margin was up 1.0 percentage points to 72.8%, non-IFRS cloud gross margin up 1.3 percentage points to 73.5% and up 1.4 percentage points at constant currencies.
IFRS operating profit was up 6% to €2.02 billion and IFRS operating margin decreased by 1.0 percentage points to 21.5%. Non-IFRS operating profit was up 24% to €2.44 billion and was up 24% at constant currencies, non-IFRS operating margin increased by 2.7 percentage points to 26.0% and was up 2.9 percentage points to 26.1% at constant currencies. IFRS and non-IFRS operating profit was mainly driven by a strong performance in SAP’s software licenses and support business as well as disciplined execution of the 2024 transformation program. In addition, IFRS operating profit was negatively impacted by restructuring expenses associated with the 2024 transformation program.
IFRS earnings per share (basic) increased 31% to €1.37. Non-IFRS earnings per share (basic) increased 24% to €1.40. IFRS effective tax rate was 26.8% (Q4/2023: 33.6%) and non-IFRS effective tax rate was 30.0% (Q4/2023: 32.5%). For IFRS, the year-over-year decrease mainly resulted from changes in tax-exempt income and prior-year taxes. For non-IFRS, the year-over-year decrease mainly resulted from prior-year taxes.
Free cash flow in the fourth quarter came in at –€0.92 billion (Q4 2023: €1.67 billion). The year over year decline was mainly attributable to a €1.7 billion payout under the 2024 transformation program.
Full Year 2024
SAP performed against its financial outlook as follows:
Actual 2023
2024 Outlook
(as of January 23)
Revised 2024 Outlook
(as of October 21)
Actual 2024
Cloud revenue (at constant currencies)
€13.66 billion
€17.0 – 17.3 billion
€17.0 – 17.3 billion
€17.21 billion
Cloud and software revenue (at constant currencies)
€26.92 billion
€29.0 – 29.5 billion
€29.5 – 29.8 billion
€29.96 billion
Operating profit (non-IFRS, at constant currencies)
€6.51 billion
€7.6 – 7.9 billion
€7.8 – 8.0 billion
€8.23 billion
Free cash flow
€5.09 billion
approx. €3.5 billion
€3.5 – 4.0 billion
€4.11 billion
Effective tax rate (non-IFRS)
30.3 %
approx. 32%
approx. 32%
32.3 %
As of December 31, total cloud backlog was up 43% to €63.29 billion and up 40% at constant currencies.
For the full year, cloud revenue was up 25% to €17.14 billion and up 26% at constant currencies. Software licenses revenue was down 21% to €1.40 billion and down 21% at constant currencies. Cloud and software revenue was up 11% to €29.83 billion and up 11% at constant currencies. Services revenue was up 1% to €4.35 billion and up 2% at constant currencies. Total revenue was up 10% to €34.18 billion and up 10% at constant currencies.
The share of more predictable revenue increased by 3 percentage points year over year to 83% for the full year 2024.
IFRS cloud gross profit was up 28% to €12.48 billion. Non-IFRS cloud gross profit was up 28% to €12.56 billion and was up 28% at constant currencies. IFRS cloud gross margin was up 1.2 percentage points to 72.8%, non-IFRS cloud gross margin up 1.4 percentage points to 73.3% and up 1.4 percentage points at constant currencies.
IFRS operating profit was down 20% to €4.66 billion and IFRS operating margin decreased by 4.9 percentage points to 13.6%. The decline in IFRS operating profit was due to restructuring expenses of approximately €3.1 billion associated with the 2024 transformation program. Non-IFRS operating profit increased 25% to €8.15 billion and increased 26% at constant currencies, non-IFRS operating margin increased by 3.0 percentage points to 23.9% and was up 3.1 percentage points to 24.0% at constant currencies.
IFRS earnings per share (basic) decreased 14% to €2.68 and non-IFRS earnings per share (basic) increased 22% to €4.53. IFRS effective tax rate was 33.9% (FY/2023: 32.6%) and non-IFRS effective tax rate was 32.3% (FY/2023: 30.3%). For IFRS, the year-over-year increase mainly resulted from a temporary inability to offset withholding taxes in Germany due to tax losses in 2024 resulting from restructuring, which was partly compensated by changes in tax-exempt income. For non-IFRS, the year-over-year increase mainly resulted from a temporary inability to offset withholding taxes in Germany due to tax losses in 2024 resulting from restructuring.
Free cash flow for the full year was down 19% to €4.11 billion. While higher payouts for restructuring of €2.5 billion and share-based compensation of €1.3 billion weighed on free cash flow, the performance was supported by SAP’s increased profitability and improvements in working capital. At year end, net liquidity was €1.70 billion.
Non-Financial Performance 2024
Customer Net Promoter Score (NPS) increased 3 points year over year to 12 in 2024, at the upper end of the outlook range.
After dropping to 72% in the first half of the year, the employee engagement index recovered to 76% in the second half of 2024. As a result, the employee engagement index for the full-year 2024 decreased 6 percentage points year-over-year to 74%, at the upper end of the revised outlook range.
The proportion of women in executive roles increased 0.3 percentage points to 22.5%, in line with the outlook.
Total carbon emissions were flat at 6.9 Mt in 2024, while we initially guided for a steady decrease.
Share Repurchase Program
In May 2023, SAP announced a share repurchase program with an aggregate volume of up to €5 billion and a term until December 31, 2025. As of December 31, 2024, SAP had repurchased 18,429,480 shares at an average price of €162.46 resulting in a purchased volume of approximately €3.0 billion under the program.
2024 Transformation Program: Focus on scalability of operations and key strategic growth areas
In January 2024, SAP announced a company-wide restructuring program which is anticipated to conclude in early 2025. Overall expenses associated with the program are estimated to be approximately €3.2 billion. Restructuring payouts amounted to €1.7 billion in the fourth quarter and €2.5 billion for the full-year 2024. In 2025, approximately €0.7bn are expected to be paid out.
Business Highlights
In the fourth quarter, customers around the globe continued to choose “RISE with SAP” to drive their end-to-end business transformations. These customers included: BASF, BERNMOBIL, BP International, Brose, Chevron Corporation, Colgate-Palmolive, Conagra Brands, dm-drogerie markt, EY, Ford Motor Company, Fressnapf, Freudenberg, FrieslandCampina, Hannover Medical School, K+S, Lanxess, Menasha Corporation, Mitie, NTPC, NTT DATA, Red Bull, Robert Bosch, Schaeffler Technologies, Schindler Group, The South Carolina Department of Administration, STADA Arzneimittel, and voestalpine.
Coles Group, Commerz Real, General Motors, H.B. Fuller, Hyundai Glovis, MAHLE International, SKF Group, and Trent Limited went live on SAP S/4HANA Cloud in the fourth quarter.
ACTUM Digital, CiboVita, Databricks, Inetum, Medical University of Vienna, msg systems, North Yorkshire Council, Outreach, and Warrington Borough Council chose “GROW with SAP”, an offering helping customers adopt cloud ERP with speed, predictability, and continuous innovation.
Key customer wins across SAP’s solution portfolio included: ABB, AOK Federal Association, B. Braun Group, Bayer, Digital China, KNAPP, Mengniu, Migros, Mondi, PwC Germany, SA Power Networks, Salling Group, SICK, and Unity Programme.
Ayala Land, Carlisle Companies, CP Foods, IBM, and Tchibo went live on SAP solutions.
In the fourth quarter, SAP’s cloud revenue performance was particularly strong in APJ and EMEA and robust in the Americas region. China, France, India, Italy, South Korea and the Netherlands had outstanding performances, while Canada, Germany, Japan and the U.S. were particularly strong.
For the full year, China, Germany, India, Japan, and Spain all had outstanding performances in cloud revenue while Brazil, Canada and Saudia Arabia were particularly strong.
On October 8, SAP announced powerful new capabilities that complement and extend Joule, including collaborative AI agents imbued with custom skills to complete complex cross-disciplinary tasks.
On December 3, SAP and AWS announced GROW with SAP on AWS, which will allow customers of all sizes to rapidly deploy SAP’s enterprise resource planning (ERP) solution while leveraging the reliability, security and scalability of the world’s most broadly adopted cloud.
On December 16, SAP announced the general availability of the SAP Green Ledger solution, the most comprehensive carbon accounting system globally that integrates directly with customers’ financial data.
Outlook 2025
The outlook 2025 replaces SAP’s former Ambition 2025.
Financial Outlook 2025
For 2025, SAP now expects:
€21.6 – 21.9 billion cloud revenue at constant currencies (2024: €17.14 billion), up 26% to 28% at constant currencies.€33.1 – 33.6 billion cloud and software revenue at constant currencies (2024: €29.83 billion), up 11% to 13% at constant currencies.€10.3 – 10.6 billion non-IFRS operating profit at constant currencies (2024: €8.15 billion), up 26% to 30% at constant currencies.Approximately €8.0 billion free cash flow at actual currencies (2024: €4.22 billion), based on updated free cash flow definition (see section (N) 2025 Reporting Changes).An effective tax rate (non-IFRS) of approximately 32% (2024: 32.3%)2.
The company also expects current cloud backlog growth to slightly decelerate in 2025.
While SAP’s 2025 financial outlook for the income statement parameters is at constant currencies (including an average exchange rate of 1.08 USD per EUR), actual currency reported figures are expected to be impacted by currency exchange rate fluctuations as the company progresses through the year, as reflected in the table below.
Currency Impact Assuming December 31, 2024 Rates Apply for 2025
In percentage points
Q1 2025
FY 2025
Cloud revenue growth
+2.5pp
+2.5pp
Cloud and software revenue growth
+2.0pp
+2.0pp
Operating profit growth (non-IFRS)
+5.0pp
+4.0pp
This includes an exchange rate of 1.04 USD per EUR.
Non-Financial Outlook 2025
For 2025, SAP now expects:
A Customer Net Promoter Score of 12 to 16.The Employee Engagement Index to be in a range of 74% to 78%.To steadily increase the share of women in executive roles.To steadily decrease carbon emissions across the relevant value chain.
Additional Information
This press release and all information therein is preliminary and unaudited. Due to rounding, numbers may not add up precisely. The full Q4 and FY 2024 Quarterly Statement can be downloaded from: https://www.sap.com/investors/sap-2024-q4-statement.
SAP Annual General Meeting of Shareholders
The Annual General Meeting of Shareholders will take place on May 13, 2025, as a virtual event. The whole event will be webcast on the Company’s website and online voting options will be available for shareholders. Further details will be published at https://www.sap.com/agm in early April.
SAP Performance Measures
For more information about our key growth metrics and performance measures, their calculation, their usefulness, and their limitations, please refer to the following document on our Investor Relations website: https://www.sap.com/investors/performance-measures
Webcast
SAP senior management will host a financial analyst conference call on Tuesday, January 28th at 07:00 AM (CET) / 06:00 AM (GMT) / 1:00 AM (EST) / Monday, January 27th 10:00 PM (PST), followed by a press conference at 10:00 AM (CET) / 9:00 AM (GMT) / 4:00 AM (EST) / 1:00 AM (PST). Both conferences will be webcast on the Company’s website at https://www.sap.com/investor and will be available for replay. Supplementary financial information pertaining to the fourth quarter results can be found at https://www.sap.com/investor.
About SAP
As a global leader in enterprise applications and business AI, SAP (NYSE:SAP) stands at the nexus of business and technology. For over 50 years, organizations have trusted SAP to bring out their best by uniting business-critical operations spanning finance, procurement, HR, supply chain, and customer experience. For more information, visit www.sap.com.
For customers interested in learning more about SAP products:
Global Customer Center:
+49 180 534-34-24
United States Only:
+1 (800) 872-1SAP (+1-800-872-1727)
This document contains forward-looking statements, which are predictions, projections, or other statements about future events. These statements are based on current expectations, forecasts, and assumptions that are subject to risks and uncertainties that could cause actual results and outcomes to materially differ. Additional information regarding these risks and uncertainties may be found in our filings with the Securities and Exchange Commission, including but not limited to the risk factors section of SAP’s 2023 Annual Report on Form 20-F.
© 2025 SAP SE. All rights reserved.
SAP and other SAP products and services mentioned herein as well as their respective logos are trademarks or registered trademarks of SAP SE in Germany and other countries. Please see https://www.sap.com/copyright for additional trademark information and notices.
1 The Q4 2024 results were also impacted by other effects. For details, please refer to the disclosures on page 23 of this document.
2 The effective tax rate (non-IFRS) is a non-IFRS financial measure and is presented for supplemental informational purposes only. We do not provide an outlook for the effective tax rate (IFRS) due to the uncertainty and potential variability of gains and losses associated with equity securities, which are reconciling items between the two effective tax rates (non-IFRS and IFRS). These items cannot be provided without unreasonable efforts but could have a significant impact on our future effective tax rate (IFRS).
View original content to download multimedia:https://www.prnewswire.com/news-releases/sap-announces-q4-and-fy-2024-results-302361469.html
SOURCE SAP SE
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Horizon Petroleum Ltd. Announces Proposed $2,000,000 Secured Grid Promissory Note and Close of Its Shares for Debt Settlement
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October 22, 2026By
/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES OF AMERICA. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAWS./
CALGARY, AB, Oct. 22, 2026 /CNW/ — Horizon Petroleum Ltd. (the “Company” or “Horizon”) (TSXV: HPL) (FRA: HPM) (Tradegate: HPM) is pleased to announce that it intends to enter into a secured grid promissory note (the “Promissory Note”) with Wilco Investments Ltd., a company controlled by Trevor Williams who is a director of the Company, in the aggregate principal amount of up to CAD $2,000,000.
The proceeds will be used to make deposits on three generators and on production facilities. The generators will have a combined generating capacity of 3 megawatts. This equipment is Horizon’s next investment in its gas to power strategy for its Lachowice natural gas development in Poland.
The Promissory Note will bear interest from the applicable issuance date at 12% per annum. The Promissory Note and accrued interest will be due on December 31, 2026 (the “Maturity Date”). The Maturity Date may be extended by mutual agreement between the parties. The Promissory Note may be prepaid in whole or in part at any time without penalty. The Promissory Note will be immediately due and payable upon completion by the Company of a financing of equity or debt of CAD $5,000,000 or more. The Promissory Note will be secured by Horizon’s electrical generating equipment in Poland.
The closing date is anticipated to be October 22, 2026.
Entering into the Promissory Note and the advance of funds thereunder are subject to the satisfaction of customary conditions, including the approval of the TSXV.
As Trevor Williams is a director of the Company, the Promissory Note will constitute a “related party transaction” pursuant to Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The Company intends to rely on the exemption from the formal valuation requirement pursuant to section 5.5(b) of MI 61-101 as the Company does not have securities listed on a specified market, and on the exemption from the minority shareholder approval requirement pursuant to section 5.7(1)(a) of MI 61-101 as the fair market value of the Promissory Note will not exceed 25% of the Company’s market capitalization.
In addition, the Company announces that it has completed an agreement to settle a total of CAD $524,000 of the Company’s debt (the “Debt”) with certain arm’s length and non-arm’s length parties (the “Shares for Debt Settlement”). The Debt payable to directors and officers of the Company who are Insiders (as such term is defined under the policies of the TSXV) is an aggregate of CAD $465,000 and the Company will settle the same by issuing to such parties 2,657,143 common shares at a deemed price of CAD $0.175 per common share. The Debt payable to arm’s length service providers is an aggregate of CAD $59,000 and the Company will settle the same by issuing to such parties 337,143 common shares at a deemed price of $0.175 per common share.
The Shares for Debt Settlement was approved by disinterested shareholders at the shareholder meeting held on July 28, 2026. All securities issued in connection with the Shares for Debt Settlement will be subject to a statutory four-month hold period in accordance with applicable securities legislation.
The Company has received final approval for the Shares for Debt Settlement from the TSXV.
The Company relied on exemptions from the formal valuation and minority approval requirements of sections 5.5(b) and 5.7(1)(a) of MI 61-101 in respect of such insider participation in the Shares for Debt Settlement, based on a determination that fair market value of the participation by insiders did not exceed 25% of the market capitalization of Horizon, as determined in accordance with MI 61-101.
About Horizon Petroleum Ltd.
Calgary-based Horizon Petroleum Ltd. is focused on the appraisal and development of natural gas resources and clean energy opportunities in Europe, with the objective of contributing to European energy independence and security. Horizon is advancing its Polish natural gas assets through a technically focused, phased development strategy designed to unlock their commercial potential. Horizon’s management team and Board of Directors comprise oil and gas, business and finance professionals with significant international experience.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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SOURCE Horizon Petroleum Ltd.
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BMO Announces Cash Distributions for Certain BMO ETFs and ETF Series of BMO Mutual Funds for October 2026
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October 22, 2026By
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FUND NAME
FUND TICKER
CASH DISTRIBUTION PER UNIT $
BMO AAA CLO ETF
ZAAA
0.124
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ZAAA.F
0.117
BMO AAA CLO ETF (USD Units)*
ZAAA.U
0.120
BMO Aggregate Bond Index ETF
ZAG
0.038
BMO All-Equity ETF (Target Cash Flow Units)
ZEQT.T
0.100
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ZABS
0.123
BMO Asset-Backed Securities ETF (Hedged Units)
ZABS.F
0.119
BMO Asset-Backed Securities ETF (USD Units)*
ZABS.U
0.119
BMO Balanced ETF (Target Cash Flow Units)
ZBAL.T
0.049
BMO BBB CLO ETF
ZBBZ
0.163
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ZBBZ.F
0.155
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0.158
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0.060
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ZDV
0.075
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ZWC
0.120
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0.333
BMO Canadian MBS Index ETF
ZMBS
0.082
BMO Core Bond Fund (ETF Series)
ZCRB
0.044
BMO Covered Call Canadian Banks ETF
ZWB
0.170
BMO Covered Call Canadian Banks ETF (Target Cash Flow Units)
ZWB.T
0.488
BMO Covered Call Canadian Banks ETF (USD Units)*
ZWB.U
0.210
BMO Covered Call Dow Jones Industrial Average Hedged to CAD ETF
ZWA
0.150
BMO Covered Call Dow Jones Industrial Average Hedged to CAD ETF (Target Cash Flow Units)
ZWA.T
0.413
BMO Covered Call Energy ETF
ZWEN
0.220
BMO Covered Call Energy ETF (Target Cash Flow Units)
ZWEN.T
0.488
BMO Covered Call Health Care ETF
ZWHC
0.160
BMO Covered Call Health Care ETF (Target Cash Flow Units)
ZWHC.T
0.413
BMO Covered Call Spread Gold Bullion ETF
ZWGD
0.170
BMO Covered Call Spread Gold Bullion ETF (Target Cash Flow Units)
ZWGD.T
0.333
BMO Covered Call Technology ETF
ZWT
0.350
BMO Covered Call Technology ETF (Target Cash Flow Units)
ZWT.T
0.413
BMO Covered Call US Banks ETF
ZWK
0.160
BMO Covered Call US Banks ETF (Target Cash Flow Units)
ZWK.T
0.450
BMO Covered Call Utilities ETF
ZWU
0.070
BMO Covered Call Utilities ETF (Target Cash Flow Units)
ZWU.T
0.625
BMO Credit Stress Opportunities ETF
ZCDX
0.000
BMO Credit Stress Opportunities ETF (USD Units)*
ZCDX.U
0.000
BMO Discount Bond Index ETF
ZDB
0.022
BMO Emerging Markets Bond Hedged to CAD Index ETF
ZEF
0.045
BMO Emerging Markets Bond Fund (ETF Series)
ZEMB
0.053
BMO Equal Weight Banks Index ETF
ZEB
0.150
BMO Equal Weight REITs Index ETF
ZRE
0.090
BMO Equal Weight Utilities Index ETF
ZUT
0.071
BMO Europe High Dividend Covered Call ETF
ZWP
0.110
BMO Europe High Dividend Covered Call ETF (Target Cash Flow Units)
ZWP.T
0.333
BMO Europe High Dividend Covered Call Hedged to CAD ETF
ZWE
0.120
BMO Europe High Dividend Covered Call Hedged to CAD ETF (Target Cash Flow Units)
ZWE.T
0.333
BMO Floating Rate High Yield ETF
ZFH
0.062
BMO Global Dividend Opportunities Fund (Active ETF Series)
ZGDV
0.034
BMO Global Enhanced Income Fund (ETF Series)
ZWQT
0.085
BMO Global High Dividend Covered Call ETF
ZWG
0.190
BMO Global High Dividend Covered Call ETF (Target Cash Flow Units)
ZWG.T
0.333
BMO Global Infrastructure Fund (Active ETF Series)
ZGIF
0.050
BMO Global REIT Fund (Active ETF Series)
ZGRT
0.055
BMO Government Bond Index ETF
ZGB
0.111
BMO Growth ETF (Target Cash Flow Units)
ZGRO.T
0.058
BMO High Yield US Corporate Bond Hedged to CAD Index ETF
ZHY
0.060
BMO High Yield US Corporate Bond Index ETF
ZJK
0.103
BMO High Yield US Corporate Bond Index ETF (USD Units)*
ZJK.U
0.098
BMO International Dividend ETF
ZDI
0.085
BMO International Dividend Hedged to CAD ETF
ZDH
0.085
BMO Laddered Preferred Share Index ETF
ZPR
0.060
BMO Laddered Preferred Share Index ETF (USD Units)*
ZPR.U
0.096
BMO Long Corporate Bond Index ETF
ZLC
0.053
BMO Long Federal Bond Index ETF
ZFL
0.027
BMO Long Provincial Bond Index ETF
ZPL
0.034
BMO Mid Corporate Bond Index ETF
ZCM
0.055
BMO Mid Federal Bond Index ETF
ZFM
0.035
BMO Mid Provincial Bond Index ETF
ZMP
0.043
BMO Mid-Term US IG Corporate Bond Hedged to CAD Index ETF
ZMU
0.049
BMO Mid-Term US IG Corporate Bond Index ETF
ZIC
0.071
BMO Mid-Term US IG Corporate Bond Index ETF (USD Units)*
ZIC.U
0.052
BMO Money Market Fund (ETF Series)
ZMMK
0.100
BMO Monthly Income ETF
ZMI
0.049
BMO Monthly Income ETF (USD Units)*
ZMI.U
0.026
BMO MSCI Canada IMI High Dividend Yield Index ETF
ZDIV
0.108
BMO Premium Yield ETF
ZPAY
0.200
BMO Premium Yield ETF (Hedged Units)
ZPAY.F
0.175
BMO Premium Yield ETF (USD Units)*
ZPAY.U
0.180
BMO Real Return Bond Index ETF
ZRR
0.060
BMO Short Corporate Bond Index ETF
ZCS
0.047
BMO Short Federal Bond Index ETF
ZFS
0.028
BMO Short Provincial Bond Index ETF
ZPS
0.024
BMO Short-Term US IG Corporate Bond Hedged to CAD Index ETF
ZSU
0.050
BMO Strategic Autocallable Income US Large Cap ETF
ZACU
0.305
BMO Strategic Autocallable Income US Large Cap ETF (Hedged Units)
ZACU.F
0.305
BMO Strategic Autocallable Income US Large Cap ETF (USD Units)*
ZACU.U
0.305
BMO Ultra Short-Term Bond ETF
ZST
0.110
BMO Ultra Short-Term US Bond ETF (USD Units)*
ZUS.U
0.178
BMO US Aggregate Bond Index ETF
ZUAG
0.075
BMO US Aggregate Bond Index ETF (Hedged Units)
ZUAG.F
0.069
BMO US Aggregate Bond Index ETF (USD Units)*
ZUAG.U
0.072
BMO US Dividend ETF
ZDY
0.080
BMO US Dividend ETF (USD Units)*
ZDY.U
0.060
BMO US Dividend Growth ETF
ZBDU
0.070
BMO US Dividend Growth ETF (Hedged Units)
ZBDU.F
0.070
BMO US Dividend Hedged to CAD ETF
ZUD
0.055
BMO US High Dividend Covered Call ETF
ZWH
0.140
BMO US High Dividend Covered Call ETF (Target Cash Flow Units)
ZWH.T
0.413
BMO US High Dividend Covered Call ETF (USD Units)*
ZWH.U
0.140
BMO US High Dividend Covered Call Hedged to CAD ETF
ZWS
0.120
BMO US High Dividend Covered Call Hedged to CAD ETF (Target Cash Flow Units)
ZWS.T
0.413
BMO US Preferred Share Hedged to CAD Index ETF
ZHP
0.080
BMO US Preferred Share Index ETF
ZUP
0.096
BMO US Preferred Share Index ETF (USD Units)*
ZUP.U
0.090
BMO US Put Write ETF
ZPW
0.125
BMO US Put Write ETF (USD Units)*
ZPW.U
0.125
BMO US Put Write Hedged to CAD ETF
ZPH
0.120
BMO USD Cash Management ETF
ZUCM
0.108
BMO USD Cash Management ETF (USD Units)*
ZUCM.U
0.104
*Cash distribution per unit ($) amounts are USD for ZAAA.U, ZABS.U, ZBBZ.U, ZWB.U, ZCDX.U, ZJK.U, ZPR.U, ZIC.U, ZMI.U, ZPAY.U, ZACU.U, ZUS.U, ZUAG.U, ZDY.U, ZWH.U, ZUP.U, ZPW.U, ZUCM.U.
1 BMO ETFs are managed by BMO Asset Management Inc., an investment fund manager, a portfolio manager, and a separate legal entity from Bank of Montreal. ETF Series of the BMO Mutual Funds are managed by BMO Investments Inc., an investment fund manager and a separate legal entity from Bank of Montreal
Any statement that necessarily depends on future events may be a forward-looking statement. Forward-looking statements are not guarantees of performance. They involve risks, uncertainties and assumptions. Although such statements are based on assumptions that are believed to be reasonable, there can be no assurance that actual results will not differ materially from expectations. Investors are cautioned not to rely unduly on any forward-looking statements. In connection with any forward-looking statements, investors should carefully consider the areas of risk described in the most recent prospectus.
This communication is for information purposes. The information contained herein is not, and should not be construed as, investment, tax or legal advice to any party. Investments should be evaluated relative to the individual’s investment objectives and professional advice should be obtained with respect to any circumstance.
The BMO ETFs or securities referred to herein (ZDIV) are not sponsored, endorsed or promoted by MSCI Inc. (MSCI), and MSCI bears no liability with respect to any such BMO ETFs or securities or any index on which such BMO ETFs or securities are based. The prospectus of the BMO ETFs contains a more detailed description of the limited relationship MSCI has with BMO Asset Management Inc. and any related BMO ETFs.
The Dow Jones Industrial Index is a product of S&P Dow Jones Indices LLC or its affiliates (SPDJI), and has been licensed for use by BMO Asset Management Inc. S&P®, S&P 500®, US 500, The 500, iBoxx®, iTraxx® and CDX® are trademarks of S&P Global, Inc. or its affiliates (S&P) and Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC (Dow Jones), and these trademarks have been licensed for use by SPDJI and sublicensed for certain purposes by BMO Asset Management Inc. The relevant BMO ETF (ZWA, ZWA.T) is not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, their respective affiliates, and none of such parties make any representation regarding the advisability of investing in such product(s), nor do they have any liability for any errors, omissions, or interruptions of the Index.
BLOOMBERG® and the Bloomberg Index are service marks of Bloomberg Finance L.P. and its affiliates, including Bloomberg Index Services Limited (BISL), the administrator of the index (collectively, Bloomberg) and have been licensed for use for certain purposes by BMO Asset Management Inc. Bloomberg is not affiliated with BMO Asset Management Inc., and Bloomberg does not approve, endorse, review, or recommend any BMO ETFs. Bloomberg does not guarantee the timeliness, accuracy or completeness of any data or information relating to the BMO ETFs.
BMO ETFs are not in any way sponsored, endorsed, sold or promoted by FTSE Global Debt Capital Markets Inc. (FGDCM), FTSE International Limited (FTSE), Frank Russell Company (Frank Russell), FTSE Fixed Income LLC (FTSE FI) or the London Stock Exchange Group companies (together with FGDCM, FTSE, Frank Russell and FTSE FI, the Licensor Parties). The Licensor Parties make no claim, prediction, warranty or representation whatsoever, expressly or impliedly, either as to (i) the results to be obtained from the use of the FTSE BMO ETF Indices, (ii) the figure at which any of the FTSE BMO ETF Indices stands at any particular time on any particular day or otherwise, or (iii) the suitability of an Underlying Index for the particular purpose to which it is being put in connection with the FTSE BMO ETFs. Each of the FTSE BMO ETF Indices is compiled and calculated by FGDCM of FTSE and all copyright in any of the FTSE BMO ETF Indices values and constituent lists vests in FGDCM or FTSE, respectively. The Licensor Parties shall not be liable (whether in negligence or otherwise) to any person for any error in any of the FTSE BMO ETF Indices and the Licensor Parties shall not be under any obligation to advise any person of any error therein. FTSE® is a trade mark of the London Stock Exchange Group companies and is used under licence.
Commissions, management fees and expenses all may be associated with investments in BMO ETFs and ETF Series units of the BMO Mutual Funds. Please read the ETF facts, fund facts or prospectus of the relevant BMO ETF or ETF Series of BMO Mutual Fund before investing. BMO ETFs and ETF Series units of the BMO Mutual Funds are not guaranteed, their values change frequently and past performance may not be repeated. BMO ETFs and ETF Series units may be bought and sold at market price on a stock exchange and brokerage commissions will reduce returns.
Distributions are not guaranteed and are subject to change and/or elimination depending on market conditions. The payment of distributions should not be confused with an investment fund’s performance, rate of return or yield. If distributions paid by an investment fund are greater than the performance of the fund, investors’ original investment will shrink. Distributions of net income and net taxable gains of a BMO ETF or an ETF Series will be included in the unitholder’s income for tax purposes in the year they are paid, whether or not such amounts are reinvested in additional units. A unitholder’s adjusted cost base (“ACB”) will be reduced by the amount of any return of capital (“ROC”). If a unitholder’s ACB goes below zero, such unitholder will have to pay capital gains tax on the amount below zero. Please refer to the summary of the principal income tax considerations set out in the prospectus for the relevant BMO ETF or ETF Series. Investors should also consult their own tax advisors about their individual circumstances.
The Target Cash Flow Units are subject to capital depletion risk. Target Cash Flow Units make monthly distributions of a fixed amount which may be comprised of, in whole or in part, a ROC. A ROC reduces the amount of an original investment and may result in the return to investors of the entire amount of an original investment.
The Target Cash Flow Units’ monthly distribution dollar amount is reset at the beginning of each calendar year. The dollar amount is a factor of the annualized distribution rate for the Target Cash Flow Units (which is the rate set out in the individual BMO ETF profiles in the applicable BMO ETF’s prospectus), the net asset value per unit of a series of a BMO ETF (NAVPS) as of the end of the previous calendar year, and the number of Target Cash Flow Units of the BMO ETF held at the time of the distribution. Although not expected, we may also adjust the monthly distribution during the year, if capital market conditions have significantly affected the ability of the BMO ETF to maintain the applicable distribution. If we make any such adjustment to the monthly distribution, we will issue a press release to communicate the change. The distribution rate applicable to the Target Cash Flow Units may be higher than the rate of return or the portfolio yield of the BMO ETF that offers such units. As a result, if you elect to receive some or all of the regular monthly distributions in cash, the value of your investment in the BMO ETF may decline over time.
For a summary of the risks of an investment in the BMO ETFs or ETF Series units of the BMO Mutual Funds, please see the specific risks set out in the relevant ETF facts, fund facts or prospectus. BMO ETFs and ETF Series units of the BMO Mutual Funds trade like stocks, fluctuate in market value and may trade at a discount to their net asset value, which may increase the risk of loss.
BMO ETFs are managed by BMO Asset Management Inc., an investment fund manager, a portfolio manager, and a separate legal entity from Bank of Montreal. BMO Mutual Funds are managed by BMO Investments Inc., an investment fund manager and a separate legal entity from Bank of Montreal.
BMO Global Asset Management is a brand name under which BMO Asset Management Inc. and BMO Investments Inc. operate.
“BMO (M-bar roundel symbol)” is a registered trademark of Bank of Montreal, used under licence.
Further information about BMO ETFs and ETF Series of the BMO Mutual Funds can be found at www.bmoetfs.com.
About BMO Financial Group
BMO Financial Group is the eighth largest bank in North America by assets, with total assets of $1.5 trillion as of July 31, 2026. Serving clients for more than 200 years, BMO provides a broad range of personal and commercial banking, wealth management, global markets and investment banking products and services across Canada, the United States, and select markets globally. BMO is innovating for business value, by deploying and integrating human, digital and artificial intelligence to personalize client experiences, augment teams, and automate its business responsibly. Driven by its purpose, to Boldly Grow the Good in business and life, BMO is committed to driving positive change in the world, and making progress for a thriving economy, sustainable future, and stronger communities.
SOURCE BMO Financial Group
Technology
ACL Digital Launches AgentixCare, a Human-in-the-Loop Agentic AI Platform for Healthcare Payers, Providers, and MedTech
Published
50 minutes agoon
October 22, 2026By
The AI-first platform applies agentic AI, generative AI, and predictive models across clinical care, revenue cycle management, and connected MedTech, with humans in control of every critical decision.
SAN JOSE, Calif., Oct. 22, 2026 /PRNewswire/ — ACL Digital, part of the ALTEN Group, today announced the launch of AgentixCare, a Human-in-the-Loop (HITL) Agentic AI platform for healthcare payers, providers, and MedTech organizations. A trusted AI-led Digital Enterprise & Systems Engineering Partner, ACL Digital drives innovation by designing and building intelligent systems across the full technology stack, from chip-to-cloud.
Traditional healthcare platforms record what happened but rarely act on it. Fragmented EHRs, manual prior authorizations, rising claim denials, and disconnected device data bury clinicians in documentation and leave revenue teams chasing paperwork. AgentixCare closes that gap, cutting costs by up to 30–50% while improving productivity, care quality, cash flow, and asset uptime, with HITL oversight at every decision point.
“Healthcare does not need another dashboard. It needs AI that does real clinical, financial, and operational work, safely. AgentixCare puts autonomous agents to work on the tasks that slow care down, from prior authorizations to denials to documentation, while keeping clinicians firmly in control. That is how our clients will move from AI pilots to measurable outcomes in weeks, not years,” said Ramandeep Singh, CEO of ACL Digital.
Unlike point solutions that bolt AI onto legacy workflows, the platform is built AI-first. Its agents assess data, gather clinical and policy evidence, assemble submissions, trace root causes, and recommend next-best actions.
End-to-End Coverage Across the Healthcare Value Chain
Clinical Care & Intelligence: EHR-ready AI notes, predictive early warnings, real-time clinical decision support (CDS), and formulary mapping.Agentic Revenue Cycle & Payer Operations: Electronic prior authorization and end-to-end claim and denial management, from scrubbing to recovery and reconciliation.Intelligent Connected MedTech: Predictive maintenance, performance analytics, a GenAI copilot for surgical robotics fleets, and infusion pump monitoring.AI-Governed Trust, Risk & Compliance: A compliance copilot for HIPAA and HITECH readiness.Future-Ready Interoperability: HL7 v2, FHIR R4, and SMART on FHIR connectors for leading enterprise and open-source EMRs.
The platform is designed to significantly reduce manual prior authorization work and administrative costs, speed up routine authorization decisions, cut claim denials and unplanned device downtime, catch more patient anomalies, and deliver faster answers through AI copilots and natural language processing.
“We engineered AgentixCare the way we build medical-grade systems: interoperable from day one, secure by design, and governed end to end. Every agent works on FHIR and HL7 data, every recommendation shows its evidence, and every action is approved and recorded. That combination of agentic AI and Human-in-the-Loop governance is what makes enterprise adoption fast and safe,” said Suresh Venkateswaran, Head – Digital Product Engineering Services at ACL Digital.
AgentixCare draws on ACL Digital’s decades of domain and product engineering experience with healthcare, life sciences, and medical device companies. Developed by the company’s Healthcare Center of Excellence, it combines first-hand knowledge of Clinical, Payer, and MedTech workflows with interoperability standards and responsible AI practices.
AgentixCare is available now for pilot programs. To request a demonstration, visit AgentixCare programs.
About ACL Digital
ACL Digital, part of the ALTEN Group, is a trusted AI-led Digital Enterprise & Systems Engineering Partner driving innovation by designing and building intelligent systems across the full technology stack from chip to cloud. By integrating AI and data-powered solutions, we help enterprises accelerate digital transformation, optimize operations, and achieve scalable business outcomes. Partner with us to turn complexity into clarity and shape the future of your organization. Learn more at www.acldigital.com.
View original content to download multimedia:https://www.prnewswire.com/news-releases/acl-digital-launches-agentixcare-a-human-in-the-loop-agentic-ai-platform-for-healthcare-payers-providers-and-medtech-302916672.html
SOURCE ACL Digital
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ACL Digital Launches AgentixCare, a Human-in-the-Loop Agentic AI Platform for Healthcare Payers, Providers, and MedTech
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