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Financials

RPT-SAP sets new mid-term margin targets after Q1 operating loss

(Repeats with no changes to text)

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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