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SAP CEO: U.S. Market Environment "Is Tough, But Not Worsening''

Henning Kagermann: "There is no spillover from the recession in the U.S. to Asia and Europe"

"There is no spillover from the recession in the U.S. to Asia and Europe," SAP CEO Henning Kagermann told a press reception in Berlin just last month. His Co-CEO, Leo Apotheker, told the press at the same event that the integration of Business Objects was moving ahead "in a very satisfactory manner" and that it would be complete before the end of 2008.

Overall Kagermann admitted to being "not too optimistic" about this year, though SAP is aiming to achieve an operating profit margin of 28.5 to 29.0% for 2008, he said - up slightly from last year's 27.3%.

Reuters reports that his expectation for the $ - Euro is $1.50.

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SAP News Desk trawls the world's news information sources and brings you timely updates on the world's leading provider of enterprise resource planning (ERP) and its various software product lines used to integrate back-office functions such as distribution, accounting, human resources, and manufacturing.

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All All 05/19/08 10:25:24 AM EDT

Unfortunately for SAP, the much-delayed Business ByDesign launch roughly coincided with the tanking economy.