AI And Technology InnovationWith the launch of Business Data Cloud (BDC), SAP is aiming to position itself as a core provider of AI agents, enabling customers to extract insights from both SAP and third party data via a partnership with Databricks.
Cloud GrowthThe growth in CCB at year-end provides visibility, with a high coverage of guidance in 2024.
Financial PerformanceExpecting c.20% EBIT growth to 2027 coupled with stable multiples to drive further share price upside.