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FRANKFURT, April 24 (Reuters) - German business software company SAP set ambitious new mid-term targets on Wednesday to boost profit margins as it reported a first-quarter operating loss that chiefly resulted from a restructuring charge.
SAP, Europe’s most valuable technology company, wants to expand its adjusted operating margins by a total of 5 percentage points through 2023 as it scales up its cloud operations, where it wants to achieve gross margins of 75 percent.
Reporting by Douglas Busvine Editing by Michelle Martin
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