SAP SE (NYSE:SAP) Q4 2022 Earnings Call Transcript

And that is not something that at the moment we have in our planning for Q4 of this year. And Q1, because it was still relatively unaffected by the Russia exit. And you cannot — you must not forget that we had still in the first quarter some revenues in Russia, mainly in support revenues and also in cloud revenues. And for 2023, we essentially, we plan with zero revenues in Russia. Nevertheless, I would say already in we should be pretty close to, if not already achieving a double-digit growth than we would have in Q2, the highest growth of the year followed by another a very decent performance in Q3. And then in Q4, the growth should moderate again. And for the future years, again, we are expecting an accelerating trajectory because then in 2024, the entirety of the cloud delivery harmonization program will be behind us.

And that will, of course, provide next to additional efficiency gains that we expect across our business and further progress on the cloud margin, will provide some significant further relief. I hope that’s helpful from a planning perspective.

Toby Ogg: That’s great. Thank you.

Anthony Coletta: All right. Thank you and this concludes our call for today. Thanks for joining.

Christian Klein: Thanks a lot.

Luka Mucic: Yes. Thank you very much. Thanks everybody.

Operator: Ladies and gentlemen, the conference has now concluded, and you may disconnect. Thank you.