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

Software AG GB 2012, englisch

SOFTWARE AG | ANNUAL REPORT 2012 94 • “Provisions” increased year on year by €10.1 million, from €73.2 million to €83.3 million. The increase is mainly due to the recognition of an acquisition-related provision for a purchase price the amount of which has not yet been finalized and to the rise in provisions for earnings-based remuneration components. • “Liabilities” fell mainly due to the partial repayment on a promissory note loan in the amount of €12.2 million. Outlook The future financial performance of Software AG depends upon the financial standing of the Software AG Group. Please refer to the Outlook in the Group Management Report. • “Receivables and other assets” on December 31, 2012 decreased due to the repayment of receivables from affiliated companies as part of the Group’s cash pool. • “Cash and cash equivalents” increased by €72.5 million from €24.0 million to €96.5 million. Software AG pre- dominantly generates liquidity based on royalties, divi- dends, Group financing and management fees from the subsidiaries. For this reason, the cash flows of Software AG depend to a great extent on decisions regarding the dividend payouts of subsidiaries and financing arrange- ments between the parent company and the subsidiar- ies. A cash flow statement for Software AG alone would therefore have little meaning, for which reason we do not prepare such a statement. • “Equity” of Software AG increased by €72.2 million, from €452.9 million on December 31, 2011 to €525.1 million on December 31, 2012. This increase resulted mainly from the balance of €105.1 million in net income for the year and €39.6 million in dividends paid out in 2012