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Software AG GB 2012, englisch

06 HIGHLIGHTS 08 LETTER FROM THE MANAGEMENT BOARD 12 THE COMPANY 38 SOFTWARE AG SHARE 46 CORPORATE GOVERNANCE 58 REPORT OF THE SUPERVISORY BOARD 68 GROUP MANAGEMENT REPORT 155 CONSOLIDATED FINANCIAL STATEMENTS 245 FURTHER INFORMATION 139 THE SOFTWARE AG GROUP 69 ECONOMIC CONDITIONS 78 BUSINESS TREND AND ECONOMIC SITUATION 80 FINANCIAL PERFORMANCE 82 FINANCIAL POSITION 89 FINANCIAL STATEMENTS OF SOFTWARE AG 92 (PARENT COMPANY) ADDITIONAL EARNINGS-RELATED FACTORS 95 TAKEOVER-RELATED DISCLOSURES 125 REMUNERATION REPORT 127 RISK REPORT 139 EVENTS AFTER THE BALANCE SHEET DATE 149 FORECAST 151 RISK AND OPPORTUNITY MANAGEMENT SYSTEM Objectives of the risk management system Software AG’s primary goal is to generate long-term, profit- able growth, accompanied by a steady increase in enterprise value. To that end, we combine established, stable business activities with an involvement in promising new market segments and regions. We strive for balance between oppor- tunities and risks and take on risks only if the business activities associated with them have a high probability of enhancing the value of Software AG. It is always a prereq- uisite that we can evaluate risks and that they remain man- ageable and controllable. In addition, we systematically monitor risks from ongoing business, for example, by keep- ing a constant eye on product and service quality and man- aging exchange-rate risks. Organization of the risk management system Fundamental organization of the global risk and opportunity management system Close collaboration between our sales force and the Research and Development team (R&D) makes it possible for the development of new products to be market-driven and also market-relevant. By continuously monitoring risks, we can constantly evaluate the overall status systematically and in a timely manner and better assess the effectiveness of appropriate countermeasures. In doing so, we include oper- ational risks as well as financial, economic, legal, and mar- ket risks. Opportunities are generally congruent to the operational and functional risk structure in all risk areas. Software AG uses various controlling tools for ongoing mon- itoring of the risk areas identified, including a system of key performance indicators that are relevant for managing the Company. The Management Board receives ongoing infor- mation as to current and future risks and opportunities as well as the aggregated risk and opportunity situation via established channels. Software AG updates and monitors the applicable specifications for preventing and reducing threats on an ongoing basis throughout the Group. RISK REPORT