Report
Nicolas David

SAP : A start to the year that is unlikely to enthuse the market

>Towards lacklustre growth in Q1 - SAP is due to publish its Q1 2022 results on 22 April, with a possible pre-announcement as of this week if there is likely to be any significant deviation from market expectations.With regards to growth, caution is the watchword for a number of reasons: i/ organic growth on Cloud should accelerate only slightly in Q1 2022 (25% at cc of 23% org.) vs Q4 2021 (+24% at cc of which 22% org.). The consensus is only a shade higher (+26...
Underlying
SAP SE

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.

Provider
Oddo BHF
Oddo BHF

​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.

Analysts
Nicolas David

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