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Software AG GB 2013. englisch

GroupManagementReport The primary factors negatively effecting the global economy during the past two years seem to have lessened in severity. Consolidation of the U.S. private sector progressed in such a way that economic growth could accelerate despite finan- cial policy head winds. Structural changes in the eurozone slowly began bearing fruit, which led to a slight improve- ment of the overall economic situation. But the need for austerity in government spending continued to stifle confi- dence among businesses and private households. As a re- sult, investments and consumption were down. Multi-period R&D summary in € millions 2013 Change in % 2012 Change in % 2011 ETS -25.3 -3.0  -26.1 -1.0  -26.4 BPE -82.6 10.0  -75.0 22.0  -61.6 Total -107.9 7.0  -101.1 15.0  -88.0 Total R&D expenses as % of product revenue 15.3% 14.2% 13.1% Total R&D expenses as % of total revenue 11.1% 9.7% 8.0% R&D headcount Total 998 13.0 887 0.0 887 Economic Report Summary of business development General economic conditions The global economy slowly began to regain momentum in 2013, sluggish at the beginning but picking up considerably during the course of the year. Global economic growth was higher in the third quarter than it had been since the end of 2010. Following 2.7-percent growth in 2012, the Institute for the World Economy (IfW) at the University of Kiel forecast 2.9 percent for 2013. Economists believe this positive trend will accelerate to 3.7 percent in 2014 and even 4 percent in 2015. 73 Corporate Governance Report of the Supervisory Board Consolidated Financial Statements Notes Additional Information Group Management Report Business and General Conditions Economic Report Events After the Balance Sheet Date Risk and Opportunity Report Remuneration Report Forecast Takeover-Related Disclosures Statement on Corporate Governance