Report
Nicolas David

SAP : Sapphire 2018: looking to (re)conquer CRM. Confidence on margins and FCF

>Annual guidance confirmed at constant currency (cc). Weaker forex impact - During his keynote speech and at various analyst meetings, SAP’s CFO appeared particularly confident. Whilst visibility is understandably limited on licence sales, the group benefits from the traction linked to S/4 Hana on the on-premise activity and the planned commercial efforts for the new CRM C/4 Hana offering (budgeted in the group’s guidance) should also help to boost full-year growth, p...
Underlying
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

Other Reports on these Companies
Other Reports from Oddo BHF

ResearchPool Subscriptions

Get the most out of your insights

Get in touch