November 16, 2012 / 9:56 AM / in 5 years

SAP confirms to reach more than 20 bln eur in 2015 sales

BARCELONA, Nov 16 (Reuters) - German software group SAP 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.” ($1 = 0.7817 euros) (Reporting by Paul Sandle, writing Harro ten Wolde)

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