Please activate JavaScript!
Please install Adobe Flash Player, click here for download

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 93 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 other operating income which decreased by €8.3 mil- lion, other operating expense which decreased by €35.3 million, and expenses for purchased services which increased by €5.8 million. The rise in personnel costs results from the one-time effect in the amount of €17.5 million in 2011 relating to hedging activities for the Management Incentive Plan III. The reduction in other operating expense results primarily from expenses arising from the impairment of receivables from subsid- iaries which fell by €9.6 million compared to 2011. • “Income from investments and profit transfer” includes dividends from subsidiaries, income and expenses arising from profit transfer agreements and impairment of financial assets and securities held as current assets. This item decreased due to lower internal profit distribu- tions. • “Net financial income/expense” is the result of offset- ting other interest and similar income against interest and similar expenses. The improvement of €4.9 million over last year is due to the significant increase in cash and cash equivalents. • Due to the lower earnings before taxes and one-time effects, taxes decreased from €38.0 million at a tax rate of 26.0 percent in 2011 to €17.2 million at a tax rate of 14.1 percent in 2012. Financial position and cash flows of Software AG Software AG’s total assets increased by a total of €67.9 mil- lion, from €930.5 million on December 31, 2011 to €998.4 million on December 31, 2012. The following depicts the primary changes compared with the prior year: in € millions Dec. 31, 2012 Dec. 31, 2011 Change Intangible assets 6.1 5.1 1.0 Property, plant and equipment 12.0 11.9 0.1 Financial assets 784.0 781.1 2.9 Inventories 0.1 0.1 0.0 Receivables and other assets 96.2 104.8 -8.6 Cash and cash equivalents and short-term securities 96.5 24.0 72.5 Prepaid expenses/other 3.5 3.5 0.0 Total assets 998.4 930.5 67.9 Equity 525.1 452.9 72.2 Provisions 83.3 73.2 10.1 Liabilities 389.8 403.6 13.8 Deferred income 0.2 0.8 -0.6 Total equity and liabilities 998.4 930.5 67.9

Pages