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Concur Q4 Revenue Drops 20 Percent Year-Over-Year

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Travel booking and expense system SAP Concur’s fourth-quarter revenue declined about 20 percent year over year to €341 million, though that drop is 15 percent in constant currency, SAP announced Friday. Executives cited reduced travel transaction fees due to the Covid-19 pandemic for the drop. “Concur was especially affected by the crisis, obviously,” SAP CEO Christian Klein said during a Friday earnings call. “The good news here is that this headwind turns into tailwind once travel comes back.” SAP counted Canadian Pacific Railway Co., Nikkei Inc. and Software AG as companies that became Concur clients during the quarter. Total SAP fourth-quarter revenue dropped 6 percent—down 2 percent in constant currency—to €7.54 billion.

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