Luka Mucic said that after taking care of its main priorities, which include investments, paying down debt and small acquisitions, there may be "more left to return to investors".

A decision about whether to buy back shares could come in the second half of next year, he said, adding that he did not expect to make any big acquisitions worth more than 1 billion euros ($1.1 billion).

Mucic also said that he was optimistic about SAP's software license sales but cautioned that the group was facing tough comparable numbers from the fourth quarter of last year, its strongest ever.

"We are on a good path but it will not be a walk in the park," Mucic said.

In the first nine months of 2016, software licenses revenues rose 2 percent to 2.69 billion euros at constant currencies.

SAP earlier on Friday raised the low end of is 2016 operating profit outlook, sparking a 3-percent rise in its share price.

(Reporting by Harro ten Wolde and Jens Hack; Editing by Maria Sheahan)