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in Q2 2006
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Other disclosures

 
 
 

Seasonal influences
Revenues and pre-tax earnings were distributed over fiscal year 2005 as follows:

 

€ thousands

Q1 2005

Q2 2005

Q3 2005

Q4 2005

2005

Total revenue

100,284

110,482

103,693

123,574

438,033

   in % of annual revenue

22.9

25.2

23.7

28.2

100.0

Earnings before taxes

19,156

27,821

24,630

29,534

101,141

   in % of net income
   for the year

18.9

27.5

24.4

29.2

100.0

 

The distribution of revenues was similarly structured in previous years, primarily due to the purchasing behavior of our customers. As a result, the Company expects the revenue and earnings trend to remain similar in the future.

Contingent liabilities
As of June 30, 2006, no provisions were recognized for the following contingent liabilities, expressed at nominal values, since it appeared unlikely that claims would be asserted:

 

€ thousands

 

Guarantees

9,307

Other

1,383

Total

10,690

 

Stock option plans
Software AG has two different stock option plans for members of the Executive Board, officers and employees. This resulted in personnel expenses of €330 thousand in the second quarter of 2006 based on the transition regulations set out in IFRS 2. Personnel expenses for the first half amounted to €660 thousand. A total of 73,456 options were exercised in the second quarter 2006. As a result, as of June 30, 2006, a total of 729,376 stock options remain outstanding for exercise by members of the Executive Board and officers (December 31, 2005 including employees: 870,358 stock options).

Please refer to the 2005 Annual Report for further disclosures on the option plans.

Other financial commitments
The Company has rent and lease agreements for buildings, land, computer and telephone equipment as well as vehicles. The obligations under these contracts for the remaining non-cancelable terms up to the end of fiscal year 2006 amount to €5,550 thousand. Obligations of €27,981 thousand exist for the period up to the end of fiscal year 2011, and obligations of €11,660 thousand for the period after fiscal year 2011. The lease agreements are operating leases as defined in IAS 17.

Notes on significant business events
In the second quarter of 2006, there were no special business events having a significant impact on the financial performance and the financial position of the Software AG Group.

Employees
As of June 30, 2006, the effective number of employees (i.e., part time employees are taken into account on a pro-rata basis only) amounted to 2,725 (June 30, 2005: 2,578), 71.3 percent of whom were employed abroad (previous year: 70.4 percent). The average absolute number of employees (i.e., part-time employees are recorded in full regardless of their average number of working hours) of the Software AG Group as of June 30, 2006 amounted to 2,838 (previous year: 2,630). In absolute terms, the Group employed 2,828 people (previous year: 2,676) as of June 30, 2006.

Executive Board and Supervisory Board
There have been no changes in the Executive and Supervisory Boards since December 31, 2005.

Events after the balance sheet date
Some personnel adjustments are planned for the third quarter of 2006 in connection with our Professional Service Margin Improvement Project.

 
 
 
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