SAP : Mixed Q4 2019 results: weak org. growth and FCF. But solid margin for both Q4 2019 and FY 2020 guidance
>SAP reported Q4 2019 showing soft revenue growth (+4% org.) - Cloud subscriptions and support revenue: € 1.90bn up 32% y-o-y at cc, -2% below consensus expectations (vs Css: € 1.94bn; ODDO BHF: € 1.91bn up 32.1% y-o-y at cc) and implying org. growth of 24%, down slightly vs previous quarters. New Cloud bookings stood at € 878m up 17% at cc, roughly in line with our expectations (€ 884m, up 18% at cc). This implies org. growth of c. 7% y-o-y mainly due to IaaS. S...SAP is engaged in selling licenses for software solutions and related support services. Co. derives its revenue from fees charged to its customers for the use of its cloud solutions and for licensing of on-premise software products and solutions. Additional sources of revenue are support, professional services, development, training, and other services. Co. has more than 300,000 customers in over 180 countries. Co.'s SAP HANA platform holds the ability to simplify both the user experience and the overall IT landscape, creating a smaller data footprint, increased system throughput, and easier data processing and operation.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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