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SAW QB2 2014, englisch

InterimManagementReport Europe in mid-2013. The sale of IDS Scheer Consulting GmbH—specialized in SAP consulting in Germany, Austria and Switzerland—to the Scheer Group GmbH was concluded in the second quarter of 2014 after an agreement had been signed on March 31, 2014. Since the sale of its business based on third-party solutions, ­Software AG has begun fo- cusing exclusively on the development, sale and service of its own products. Consulting revenue from BPE and ETS-re- lated services was €47.2 million (2013: €50.4 million) in the sec­ond quarter. Total revenue was €55.5 million (2013: €70.5 million As a result of the deconsolidation of the SAP consulting business, the cost of sales fell to €48.1 million (2013: €59.2 million) and sales and marketing expenses to €5.9 million (2013: €8.6 million). Segment earnings were €1.5 million (2013: €2.7 million). First half-year 2014 ­Software AG's Group revenue in the first six months of the current fiscal year totaled €404.9 million (2013: €462.7 mil- lion), a decline of 12 percent, or 9 percent at constant cur- rency. Exchange rates had a very negative impact, reducing ­Software AG's global revenue in the first half of 2014 by €15.1 million. Product revenue in the period was €288.7 million (2013: €326.2 million), which reflects an 11-percent decrease, 8 percent at constant currency. Of that amount, licenses ac- counted for €107.3 million (2013: €139.4 million) and main- tenance for €181.4 million (2013: €186.8 million). At con­­ stant currency licenses grew by 2 percent. Services revenue dropped as a result of the sale of SAP consulting operations to €115.9 million (2013: €135.8 million). The BPE business line performed comparably well to the same period last year with €179.8 million (2013: €181.8 million). Maintenance revenue increased from €97.1 million to €103.3 million. This shows that the sales successes of the past are now having a positive impact on the maintenance business. It also confirms the investments of the past year. ETS product revenue reached €106.7 million (2013: €139.9 million). Consulting revenue was down further to €118.0 million (2013: €140.6 million) as a result of the initial con- solidation of SAP service operations. EBIT for the first half of fiscal 2014 was down to €55.5 million (2013: €86.0 million). This indicates a decline of 35 percent compared to the same six-month period in 2013. The EBIT margin was 13.7 percent (2013: 18.6 percent). Financial Position Net cash provided by operating activities increased in the second quarter of 2014 to €22.4 million (2013: €13.3 mil­ lion). This rise was due primarily to the decrease of €68.5 million in trade receivables. ­Software AG's active working capital management enabled substantial growth in cash flow despite the decline in net income year on year. Cash inflows from investing activities in the quarter under review were €15.7 million (2013 outflow: −€60.1million) This rise was due primarily to the considerable drop in net payments for acquisitions, which totaled €2.7 million in the second quarter of 2014. The amount spent on investments was higher in 2013 at €57.1 million largely due to acquisi- tions. Sequentially speaking, ­Software AG's proceeds were significantly higher at €18.2 million due to the sale of IDS Scheer Consulting GmbH in the second quarter. In the second quarter of 2014, proceeds from the sale of securities ex­ ceed­ed payments for securities by €1.3 million. Cash outflows from financing activities increased from −€89.3 million in 2013 to −€210.1 million in the second quarter of 2014, the main reason being the high repayment volume of financial liabilities in the quarter. In particular, a promissory note worth a total amount of €200.1 million from the year 2011 was repaid on schedule. Cash and cash and cash equivalents decreased substantially due to the repayment of liabilities. As of June 30, 2014 they totaled €253.9 million compared to €421.4 million as of the 13 Share Interim Management Report Interim Financial Statements Notes to the Interim Financial Statements Additional Information Significant Events During the Reporting Period Financial Performance Financial Position Assets Events After the Balance Sheet Date Risks and Opportunities Outlook