SAP AG (SAP) plans to cut costs in the second half of 2012 to achieve exchange-rate adjusted earnings of 5.3 billion euros ($6.6 billion) for the year, as targeted for the company’s bonus plan, WirtschaftsWoche magazine reported, citing Chief Financial Officer Werner Brandt.
SAP’s “internal ambitions” are higher than the official target of 5.05 billion euros to 5.25 billion euros in earnings for 2012, the magazine cited Brandt as saying. SAP’s adjusted first-half result of about 1.9 billion euros amounted to only 95 percent of the target for that period, Brandt said.
To contact the reporter on this story: Rainer Buergin in Berlin at firstname.lastname@example.org
To contact the editor responsible for this story: James Hertling at email@example.com