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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 81 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 Total Group revenue in fiscal 2012 was on par with the previous year at approximately €1.05 billion (2011: €1.1 bil- lion). Fueled by BPE’s strong performance, product revenue (licenses and maintenance) increased 5.7 percent to €712.2 million (2011: €673.9 million) in 2012. Due to sub- stantial expenses associated with the expansion of sales and marketing and research and development and lower IDSC revenue, EBIT was down 7.8 percent year on year at €248.3 million (2011: €269.2 million). The EBIT margin was 23.7 percent (2011: 24.5 percent). Software AG calculates EBIT as the result of net income plus income tax, other tax and net financial income as follows: in € millions FY 2012 FY 2011 Change in % Net income 164.7 177.2 -7 Income tax +66.8 +71.1 -6 Other tax +8.0 +11.0 -27 Net financial income +8.8 +9.9 -11 EBIT 248.3 269.2 -8 Margin as % 23.7 24.5 Net income was €164.7 million (2011: €177.2 million). Software AG’s staff remained relatively stable with respect to 2011: As of December 31, 2012 the Group had 5,419 (2011: 5,535) employees, of which 1,768 (2011: 1,881) worked in Germany. OVERALL STATEMENT ON FINANCIAL POSITION Software AG prepared itself for the future by taking a num- ber of operational and strategic measures in the fiscal year under review. The Company is in a solid financial position, well equipped for further profitable growth. The Group con- tinued to invest in the high-growth BPE business last year for this purpose. Our investments began bearing the first fruits in the past year. Our ETS business line demonstrated stable performance marked by high profit margins. Its con- stant decline is due to the saturation of the database market. Because there are basically no new customers in this area, the license business comes primarily from existing custom- ers. We reduced costs further in order to maintain the high profit margin in this business line. The IDS Scheer Consulting business line followed a downward trend. The reorganization of our SAP consulting led to a reduction in revenue. Due to low sales combined with high fixed costs in a labor-intensive division, its performance had a negative impact on earnings. Software AG considers itself to be well positioned for the future. We have adequate financial flexibility to make future investments in line with our growth strategy. Our innovative solutions provide answers to the challenges our customers encounter on the road to becoming a Digital Enterprise.