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Software AG GB 2012, englisch

SOFTWARE AG | ANNUAL REPORT 2012 CONTENTS 4 06 _HIGHLIGHTS 08 _LETTER FROM THE MANAGEMENT BOARD 12 _CHANGE CREATES VALUE 18 _EMPLOYEES 20 _SOCIAL RESPONSIBILTY 24 _CHANGE 30 _CHALLENGE 34 _CHANCE 38 _SOFTWARE AG SHARE 46 _CORPORATE GOVERNANCE 58 _GROUP MANAGEMENT REPORT 69 _THE SOFTWARE AG GROUP 69 _BUSINESS ACTIVITIES 70 _ORGANIZATION 73 _MARKET POSITION 75 _CORPORATE STRATEGY AND OBJECTIVES 76 _VALUE-ORIENTED CONTROL 78 _ECONOMIC CONDITIONS 80 _BUSINESS TREND AND ECONOMIC SITUATION 82 _FINANCIAL PERFORMANCE 82 _REVENUE PERFORMANCE 86 _EARNINGS PERFORMANCE 87 _COST STRUCTURE 88 _NET INCOME AND APPROPRIATION OF PROFITS 89 _FINANCIAL POSITION 89 _CAPITAL EXPENDITURE 89 _CONSOLIDATED STATEMENT OF CASH FLOWS 90 _FINANCING 90 _OTHER INTANGIBLE ASS ETS 91 _BALANCE SHEET STRUCTURE AND KEY FINANCIAL INDICATORS GROUP MANAGEMENT REPORTTHE COMPANY

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