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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 153 results in a new reporting structure and thus a new seg- mentation. As of the first quarter of 2013 consulting services for all business lines will be merged and reported as a new segment called “Consulting.” Separating consulting services from the product business—which consists of license and maintenance revenue—will allow us to position Software AG more strongly as product-independent, vendor-neutral consulting partner and provide more comprehensive support to organizations in their transformation projects. In order to achieve our objectives, we will guide our custom- ers to a Digital Enterprise in the upcoming years. Software such as that which our Company offers is the key technology for that. The four technology megatrends—mobile, big data, social collaboration and cloud—have emerged as a huge opportunity and engine for this development. They express that the way we work is undergoing a radical change. There- fore we can expect an increase in license revenue for our BPE products of more than 20 percent per year, which is 10 percent, and therefore significantly, above market average. This sort of growth requires an initial investment, mainly in the expansion of sales and marketing. This investment will strengthen our operational foundation and enable us to unleash future market potential. This is necessary to achieve above-average growth and win market share in upcoming years. It will lead to increased product sales and most likely to additional sales in maintenance in foreseeable future. Our profitability will increase at the same time. Our investments will probably reduce our earnings by €15 to €30 million in 2013. GENERAL STATEMENT ON THE ANTICIPATED DEVELOPMENT OF THE GROUP We expect considerably greater growth in the BPE business line for the current fiscal year. • BPE product revenue will increase between 16 and 22 percent at constant currency compared to 2012. • The ETS business line’s contribution to revenue will con- tinue to shrink. Here we expect a decline in product revenue between 4 and 9 percent. • Taking into account the additional investments for the expansion of sales and marketing, earnings per share will be between €1.70 and €1.80 in 2013. Furthermore, the share repurchase that began in February 2013 could result in a maximum increase of €0.13 if the option to buy back shares valuing €180 million is exercised in full. • We want to continue our constant dividend policy with a payout between 20 and 25 percent of our net earn- ings, while also taking the economic climate and the Company’s liquidity requirements into account. 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

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