SAP : SAP continues to stoke expectations for 2024 and 2025
>Broadly solid Q1 2023 results Guidance reiterated excl. Qualtrics - SAP’s Q1 2023 results were broadly solid, with growth at cc of c. +9% y-o-y (ODDO BHF: +8% cc), fuelled by good resilience of licences (-13% cc vs ODDO BHF: -35%), thanks to the signing of a number of major contracts. Growth of Cloud came in at 22% cc, at the lower end of the full-year guidance range (22%-25% cc) and in line with our expectations. Support services revenues down -1% cc, also in line. ...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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