SAP SE O.N. (NYSE:SAP) Q3 2020 Earnings Conference Call - Final Transcript

Oct 26, 2020 • 09:00 am ET


SAP SE O.N. (NYSE:SAP) Q3 2020 Earnings Conference Call - Final Transcript


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Good day and welcome to the SAP Third Quarter 2020 Earnings Conference Call. As a reminder, today's conference is being recorded.

At this time, I would like to turn the conference over to Mr. Stefan Gruber, Head of Investor Relations. Please go ahead.

Stefan Gruber

Thank you. Good morning or good afternoon. This is Stefan Gruber. Thank you for joining us for our extended earnings call today to discuss our strategy update, as well as our third quarter results and the updated guidance. I'm joined by our CEO, Christian Klein, and our CFO, Luka Mucic, who will make opening remarks on the call today. And also joining us for Q&A is Executive Board member, Adaire Fox-Martin, who leads our Customer Success organization.

And as usual, before we get started, I'd like to say a couple of words about forward-looking statements and our use of non-IFRS financial measures. Any statements made during this call, that are not historical facts, are forward-looking statements, as defined in the U.S. Private Securities Litigation Reform Act of 1995. Words such as anticipate, believe, estimate, expect, forecast, intend, may, plan, project, predict, should, outlook and will, and similar expressions, as they relate to SAP are intended to identify such forward-looking statements. SAP undertakes no obligation to publicly update or revise any forward-looking statements. All forward-looking statements are subject to various risks and uncertainties, that could cause actual results to differ materially from expectations. The factors that could affect SAP's future financial results, are discussed more fully in our filings with the U.S. Securities and Exchange Commission, the SEC, including SAP's annual report on Form 20-F for 2019, filed with the SEC on February 27th this year. Participants of this call are cautioned not to place undue reliance on these forward-looking statements, which speak only as of their dates.

In addition, on the Investor Relations website, you can find a slide deck intended to supplement today's call available for download, the address is For those of you following the webcast, the slides will be shown, as we proceed through the prepared remarks. Unless otherwise noted, all financial numbers referred to, on this conference call are non-IFRS and growth rates and percentage points are non-IFRS at constant currencies year-over-year. The non-IFRS financial measures we provide, should not be considered as a substitute for or superior to, the measures of financial performance prepared in accordance with IFRS. And this extended earnings call today is being held in lieu of the Capital Markets Day we discussed last quarter.

So with that, I'd like to turn things over to our CEO, Christian Klein. Thank you.

Christian Klein

Thank you, Stefan. Welcome and thanks for joining. I hope everyone is well and staying safe, as COVID infection rates are unfortunately increasing again, in most countries. Today's announcement mark an important milestone for SAP. We have not only published our Q3 results and updated our 2020 outlook, but more importantly, we are providing additional insight into how we are evolving our strategy. Our updated strategy is in