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SAP Forecasts Flat 2021 Revenue after 4thQuarter Recovery

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Business software group SAP forecast flat revenue and a decline in operating profit in 2021, as it released preliminary annual results.
Walldorfbased SAP said it expected adjusted revenue, at constant currency, to be flat to up 2 this year, while adjusted operating profit was seen falling by 16.
CEO Christian Klein abandoned his mediumterm profit targets last October and said SAP would go allin on its shift to cloud computing, cautioning that business would take longer than expected to recover from the coronavirus pandemic.

Business software group SAP forecast flat revenue and a decline in operating profit in 2021, as it released preliminary annual results that came at the high end of guidance slashed last autumn.

Walldorfbased SAP said it expected adjusted revenue, at constant currency, to be flat to up 2 this year, while adjusted operating profit was seen falling by 16.

CEO Christian Klein abandoned his mediumterm profit targets last October and said SAP would go allin on its shift to cloud computing, cautioning that business would take longer than expected to recover from the coronavirus pandemic.

That announcement sparked the biggest drop in SAP shares in a generation, causing the leading provider of enterprise software to lose its mantle as Europes most valuable technology company.

SAPs fullyear revenue for 2020 exceeded its lowered guidance while profit hit the high end, the company said in an ad hoc news release on Thursday night issued ahead…

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