Report
Gregory Ramirez

SOFTWARE AG: FY18 results in line, Project Helix will impact margins short-term | BUY | EUR50

SOFTWARE AG - BUY | EUR50
FY18 results in line, Project Helix will impact margins short-term

FY18 results globally in line with consensus
A&N exceeds expectations and DBP is still below guidance
Project Helix accelerates transformation but impacts profitability
FY19 guidance reflects additional investment in the business
Underlying
Provider
Bryan Garnier
Bryan Garnier

Since 1996, Bryan, Garnier & Co has been growing with an absolute conviction that the investment banking landscape would experience a major revolution: most of the large local generalist banking groups will disappear to the benefit of a handful of global powerhouses, and an emerging group of independent, highly specialised boutique investment banks.

Analysts
Gregory Ramirez

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