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Outlook & Ambition

The outlook and ambition on this page was provided as part of the most recent quarterly results and is repeated here for informational purposes only. It is not an update or a reiteration of the outlook/ambition.


Reflecting SAP’s strong cloud and overall business momentum as well as the Qualtrics acquisition with a January 23, 2019 closing date, the Company is providing the following 2019 outlook:

Outlook 2019 and Mid-term Ambition 2020 and 2023
    2019   2020 Ambition   2023 Ambition
    Non-IFRS
at constant
currencies
  Change
in %
  Non-IFRS   Non-IFRS
Cloud subscriptions and support   €6.7B to €7.0B   33% to 39%   €8.6B to €9.1B   > 3x 2018 result
Cloud and Software   €22.4B to €22.7B   8.5% to 10%        
Total revenue   Total Revenue to increase strongly, at a rate slightly lower than operating profit   €28.6B to €29.2B   > €35.0B
Operating profit   €7.7B to €8.0B   7.5% to 11%   €8.5B to €9.0B   CAGR 7.5% - 10%
Share of more predictable revenue in %           70% to 75%   ~80%

While SAP’s full-year 2019 business outlook is at constant currencies, actual currency reported figures are expected to be impacted by currency exchange rate fluctuations as the company progresses though the year. See the table below for the Q1 and FY 2019 expected currency impacts. The midterm ambitions are based on 2018 currencies.

Expected Currency Impact Based on December 2018 Level for Q1 and Full-Year 2019
In percentage points   Q1   FY
Cloud subscriptions and support   +5pp to +7pp   +1pp to +3pp
Cloud and software   +2pp to +4pp   0pp to +3pp
Operating profit   +5pp to +7pp   +1pp to +3pp

 

Any statements contained on this page that are not historical facts are forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. Words such as “anticipate,” “believe,” “estimate,” “expect,” “forecast,” “intend,” “may,” “plan,” “project,” “predict,” “should” and “will” and similar expressions as they relate to SAP are intended to identify such forward-looking statements. SAP undertakes no obligation to publicly update or revise any forward-looking statements. All forward-looking statements are subject to various risks and uncertainties that could cause actual results to differ materially from expectations. The factors that could affect SAP’s future financial results are discussed more fully in SAP’s filings with the U.S. Securities and Exchange Commission (“SEC”), including SAP’s most recent Annual Report on Form 20-F filed with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of their dates.

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