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SAP says Covid may continue to squeeze sales this year

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SAP SE’s attempt to accelerate moving customers to cloud-based software began to see signs of success, although the company warned sales will continue to be impacted by the effects of the coronavirus pandemic.The corporate software maker said 2021 cloud and software revenue, excluding some items, will be as much as 23.8 billion euros ($28.9 billion) in constant currency.

When currency is adjusted, revenue may fall as much as 4% from a year earlier, Walldorf, Germany-based SAP said late Thursday in a statement.“This outlook assumes the Covid-19 crisis will begin to recede as vaccine programs roll out globally, leading to a gradually improving demand environment in the second half of 2021," the company said.Shares in SAP were up 1% in early.

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