SAP forecasts headwinds through 2023 as it forces cloud transition

Credit: REUTERS/RALPH ORLOWSKI

SAP forecast headwinds over the next few years as it rebounds from the coronavirus pandemic and forces the pace of its transition to cloud services, forecasting an acceleration in growth and profitability only after that.

BERLIN, Oct 26 (Reuters) - SAP SAPG.DE forecast headwinds over the next few years as it rebounds from the coronavirus pandemic and forces the pace of its transition to cloud services, forecasting an acceleration in growth and profitability only after that.

"The company will become more resilient by accelerating its move to the cloud," CEO Christian Klein told reporters on a call on Monday after the German business software company scrapped its mid-term guidance and cut its 2020 outlook.

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(Reporting by Douglas Busvine Editing by Michelle Adair)

((douglas.busvine@tr.com; +49 30 220 133 562;))

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