Operating cash flow in Q2 2008 was €24.0 million, compared to €11.0 million in Q2 2007, and thus improved by an outstanding 118 percent. A further reduction of the average period allowed for payment to 89 days in Q2 2008 (Q2 2007: 101 days) contributed to this outcome. Free cash flow was €23.0 million (Q2 2007: €11.8 million). The share of group revenue thus amounted to 13.6 percent, compared to 7.8 percent in Q2 2007.
Total assets of the Software AG Group declined from €1,092.4 million (June 30, 2007) to €1,001.2 million (June 30, 2008). Cash and cash equivalents declined from €114.5 million to €59.4 million due to the acquisitions and dividend payments. Equity rose by 4 percent, from €441.1 million to €457.3 million. The equity-to-assets ratio increased accordingly, from 40 percent on June 30, 2007 to 46 percent on June 30, 2008. On the other hand, a portion of the debt incurred through the acquisitions in the previous year was reduced from €279 million to the present level of €204 million. Non-current liabilities therefore decreased considerably, from €351.9 million to €273.1 million. Current liabilities declined compared to the previous year, from €299.4 million to €270.8 million.