November 16, 2012 / 10:01 AM / in 5 years

SAP confirms to reach more than 20 billion euro in 2015 sales

BARCELONA (Reuters) - German software group SAP (SAPG.DE) confirmed its target to reach more than 20 billion euros ($26 billion) in revenue by 2015, as the company continues to win market share, its co-chief said on Friday.

“We articulated our strategy in 2010 of becoming a 20 billion euro company by 2015 and a very firm commitment to becoming a 35 percent margin business by 2015,” co-Chief Executive Jim Hagemann Snabe told a Morgan Stanley investor conference.

“On the revenue side we are ahead of that plan. We are now saying we will be more than 20 billion euro, and we are discussing a little bit how much more, but clearly we see we are taking market share, we are growing faster than the original plan, that is the good news.”

Reporting by Paul Sandle, writing Harro ten Wolde

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