Where boss Christian Klein sees opportunities for new growth

Dusseldorf Despite the economic uncertainty, SAP is doing good business: Many customers buy products from the software group to automate their business processes, make supply chains more transparent or draw up climate balance sheets.

CEO Christian Klein said on Thursday: “Our pipeline for the second half of the year is full, these topics are still in high demand.” He is considering raising the medium-term forecast for 2025.

But after the publication of the quarterly figures, the shareholders looked at short-term effects: the withdrawal from Russia and Belarus in the past few months was a burden. The software manufacturer therefore significantly lowered the forecast for the operating result in the current year.

The share price fell by up to 5.2 percent to below 86 euros. An announced share buyback worth 500 million euros did not help either. Some shareholders and analysts had speculated on better profitability. Most of the costs of withdrawing from Russia have already been communicated.