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The consensus is based on estimates collected by the company and also takes into account estimates available on Visible Alpha which have been submitted before the indicated date.

 

The consensus is calculated by taking the median of the constituent analyst forecasts.

 

Visible Alpha and investment analysts have had no access to SAP’s internal budgets, forecasts or information which is not publicly available. SAP has not commented on individual forecasts nor does it intend to do so in the future. SAP assumes no obligation to update or revise such information.

The consensus data is based on the analysts' opinions, projections and predictions regarding the Company's performance. It does not represent the Company’s own views on its performance.

The Company endeavours to ensure that the consensus data is accurate and up-to-date but it is not under an obligation to update the consensus data, revise or supplement the consensus figures to reflect circumstances existing after the date hereof.

The consensus is provided purely as a courtesy to the Company shareholders and other stakeholders and for information purposes only. The consensus is not intended to, nor does it, constitute investment advice or any solicitation to buy, hold or sell securities or other financial instruments. No warranty or representation, either express or implied, is made by the Company or its affiliates, or their respective directors, officers and employees, in relation to the accuracy, completeness or achievability of the consensus figures and, to the fullest extent permitted by law, no responsibility or liability is accepted by any of those persons in respect of those matters.

The Company does not accept any liability whatsoever for reliance  upon, or actions taken based on, any of the information set out in the consensus. The consensus is forward-looking and as such is speculative and rely on assumptions and events in the future (some or all of which may not be satisfied or may not occur).

For further information regarding consensus forecasts please contact the Investor Relations Team.

 

_Disclaimer:

_{THE INFORMATION PROVIDED BY VISIBLE ALPHA CITED HEREIN PROVIDED “AS IS” AND “AS AVAILABLE” WITHOUT WARRANTY OF ANY KIND. USE OF ANY VISIBLE ALPHA DATA IS AT YOUR OWN RISK AND VISIBLE ALPHA DISCLAIMS ANY LIABILITY FOR USE OF THE VISIBLE ALPHA DATA. ALTHOUGH THE INFORMATION IS OBTAINED OR COMPILED FROM RELIABLE SOURCES VISIBLE NEITHER CAN NOR DOES GUARANTEE OR MAKE ANY REPRESENTATION OR WARRANTY, EITHER EXPRESS OR IMPLIED, AS TO THE ACCURACY, VALIDITY, SEQUENCE, TIMELINESS, COMPLETENESS OR CONTINUED AVAILABILITY OF ANY INFORMATION OR DATA, INCLUDING THIRD-PARTY CONTENT, MADE AVAILABLE HEREIN. IN NO EVENT SHALL VISIBLE ALPHA BE LIABLE FOR ANY DECISION MADE OR ACTION OR INACTION TAKEN IN RELIANCE ON ANY INFORMATION OR DATA, INCLUDING THIRD-PARTY CONTENT. VISIBLE ALPHA FURTHER EXPLICITLY DISCLAIMS, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY WARRANTY OF ANY KIND, WHETHER EXPRESS OR IMPLIED, INCLUDING WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE AND NON-INFRINGEMENT.”}