(AOF) – The good results of SAP in the third quarter allowed the German group to again raise its 2021 objectives. This publication bodes well for other professional software publishers and bears the title Dassault Systèmes, up 3, 54% to 45.32 euros. The French publisher of computer-aided design and manufacturing software will present its accounts for the third quarter on October 28.
In addition to an acceleration of its activity in the cloud, SAP benefited from the good performance of its historical software licensing business. This has a higher margin than the cloud, resulting in operational profitability at group level significantly higher than expected.
The German technology group is targeting adjusted operating income between 8.1 and 8.3 billion euros, at worst stable and at best up 2% at constant exchange rates. It was previously expected between 7.95 and 8.25 billion euros, at worst down 4% and at best stable at constant exchange rates.
Total revenue is now expected to be between 23.8 and 24.2 billion euros, up 2% to 4% at constant exchange rates. It was previously expected between 23.6 and 24 billion euros, up 2% to 3% at constant exchange rates.
Cloud revenue is expected to be in the € 9.4 billion to € 9.6 billion range, up 16% to 19% at constant currencies. It was previously expected in the range of 9.3 to 9.5 billion euros, up 15% to 18% at constant exchange rates. It was the only part of his outlook that he had not enhanced this summer.
The professional software publisher can afford to be more optimistic after exceeding expectations in the third quarter. It posted adjusted operating income up 2% to 2.10 billion euros, exceeding the consensus of 1.987 billion euros. Excluding currency impact, it also increased by 2%. The margin fell 0.7 points to 30.7% at constant currencies as the market targeted 29.7%.
Revenue rose 5% to 6.84 billion euros compared to an expected 6.698 billion euros. They also increased by 5% excluding the impact of foreign exchange. In the cloud, its activity grew by 20% (+ 20% at constant exchange rates) to 2.39 billion euros while the market was targeting 2.358 billion. It accelerated compared to the second trimester. The cloud backlog was up 24% (+ 22% at constant exchange rates) to 8.17 billion euros. Its growth also accelerated compared to the previous quarter.
Software license revenues, for their part, fell 8% to 660 million euros. They are also down 8% at constant exchange rates. The market was more pessimistic and aimed at 583 million euros.
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