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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.

SAP reiterates its outlook for the full year 2019. (Status Q3 results, October 21, 2019)

Outlook 2019 and Mid-term Ambition 2020 and 2023
    2019   2020 Ambition   2023 Ambition
at constant
in %
  Non-IFRS   Non-IFRS
Cloud revenue   €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 lower than operating profit   €28.6B to €29.2B   > €35.0B
Operating profit / Operating margin   €7.85B to €8.05B   9.5% to 12.5%   €8.8B to €9.1B   Increase by 1pp per year on average. Total approx. ~500bp
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 through the year. See the table below for the Q4 and FY 2019 expected currency impacts.

Expected Currency Impact Based on September 2019 Level for the Rest of the Year
In percentage points   Q4   FY
Cloud revenue   +3pp to +5pp   +4pp to +6pp
Cloud and software revenue   +2pp to +4pp   +2pp to +4pp
Operating profit   +2pp to +4pp   +3pp to +5pp


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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