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  Cash flow & Balance sheet  

Equity base allows room to maneuver
Net cash from operating activities amounted to €12.6 million in the third quarter (prior year: €9.7 million), surpassing the figure for the prior-year period by 29 percent. The free cash flow, which increased to €11.2 million (prior year €5.9 million), corresponds to one-tenth of total sales. In terms of individual shares, free cash flow nearly doubled from €0.21 to €0.40. Operating cash flow for the first nine months declined from €48.2 million to €38.0 million, primarily due to higher tax payments in the amount of €10.9 million.

Software AG had €404.6 million in equity as of September 30, 2006 (prior year: €370.5 million). The rise of €34.1 million increased the equity-to-assets ratio to 66 percent (prior year: 65 percent). Cash and cash equivalents rose by €12.3 million over the reporting date for the prior-year period to €165.6 million.

This solid equity base will give Software AG more opportunities to implement the Company’s growth strategy by guaranteeing expansion of our international market position and affording us flexibility for possible acquisitions.

  Interim Report Q3/06 (PDF)
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