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SAP forecasts headwinds through 2023 as it forces cloud transition

BERLIN, Oct 26 (Reuters) - 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.

“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. ($1 = 0.8450 euros) (Reporting by Douglas Busvine Editing by Michelle Adair)

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