Report
Nicolas David

SAP : Des engagements difficiles à tenir pour 2023

>Vers une topline résiliente mais pas de miracle à attendre - SAP devrait afficher une relative résilience de son activité, grâce à la baisse du poids des licences dans le mix. Toutefois, le contexte macroéconomique de plus en plus incertain aura un impact négatif plus fort sur les licences, la maintenance devrait mécaniquement accélérer son recul malgré les hausses de prix et le Cloud ne devrait pas être totalement immune face au ralentissement. Ainsi, nous anticipon...
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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