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27 Jan 2021
SOFTWARE AG - SELL | EUR35(+6%) Operating margin will continue to fall in 2021
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SOFTWARE AG - SELL | EUR35(+6%) Operating margin will continue to fall in 2021
SOFTWARE AG - SELL | EUR35(+6%)
Operating margin will continue to fall in 2021
We reiterate our Sell rating
FY20 bookings and results exceeded expectations
However, the margin will keep falling in 2021 due to more investment
Profitability ambitions for 2023 are clearly challenged