06_05_12 Annual General Meeting_engl_inkl

Transcription

Welcome!
Annual General Meeting 2006
Software AG
May 12, 2006
Commerzbank Frankfurt, Germany
Welcome to the
Annual General Meeting
of Software AG 2006
Karl-Heinz Streibich
CEO
AGM 2006 / May 12, 2006 / 1 Software AG
Software AG is Successful Again
2005
was the most successful year
in Software AG's history!
Software AG is Successful Again
Operating
EBIT
Margin (%)
Operating
EBIT (m)
25
120
100
22%
20.4%
x
18.1%
x
80
15.0%
x
x
20
15.0%
x
15
60
9.0%
x
40
10
6.0%
x
20
1999*
IPO
2000*
2001*
2002*
5
2003*
2004
2005
*HGB
Software AG Grows Again
Revenue by Business Line (Mio. €)
crossvision
Total* (Mio. €)
Enterprise Transaction
Systems (ETS)
Revenue
EBIT
+6%
+5%
438.0
411.4
308.5
325.2
+15%
+16%
83.9
91.5
78.9
96.4
FY 2004
FY 2005
* incl. other
The Share Price Increased 73 % in 2005
100%
41.15 €
50%
23.80 €
0%
-50%
January-05
April-05
Software AG
July-05
TecDAX
October-05
January-06
NASDAQ-100
Software AG Has Positive Press Coverage
Software AG
goes up a gear
Software AG with
Record Results
Software AG
grows strongly
Börsen-Zeitung
Darmstädter Echo
Frankfurter Rundschau
Software AG Beats all Estimates
FAZ
Software AG
to create jobs
Software AG
creates 240 jobs worldwide
Berliner Zeitung
Good data, not only for
the Market
Die Rheinlandpfalz
License for Growth
Euro am Sonntag
Darmstädter Echo
Our Success: Value for all Stakeholders
Shareholders
+ 73%
Share price
increase in 2005
Further increase
in dividend
Customer
Security
Innovations
Customerfocused culture
C-Level contacts
Employees
Society/Politics
Proud again of
Software AG
Good turnaround
story in Germany
Attractive
working
environment
R&D in Germany
Strengthening of
the European
Software industry
Invitation of the
German
Government
Business
Delegation
Secure jobs for
skilled employees
Attractive salaries
Software AG's Strategy is Confirmed to be Successful
From customers
100% approval at all top customer visits
From IT analysts
“New crossvision Suite Strengthens
Software AG” Gartner Group
By market trends
SOA Market grows to 150 billion USD
until 2008
Gartner Group
From employees
Full acceptance of strategy
We are Well Positioned with our
Two Business Lines
ETS
(
,
++)
Stability
Innovator image
High entry barriers for competition
New growth potential
High cash flow and good
Long-term retention of
profitability
ETS customer base
through Legacy Modernization
Contribution to growth
Increases attractiveness as
Worldwide customer base
Gives us independence
employer
Vision and strategy
Our Target is a Triple Turnaround
Growth
Profitability
Innovator Image
-
+
++
Achieved in 2005:
Fully achieved
Improve rating of IT analysts
+6% Revenue
Goal:
New Department:
EBIT margin to
grow to 25%
(based on revenue)
Goal:
Strategic Marketing
10 % organic growth
per year
Requirement for successful
partner business
Acquisitions
Our Strategy: Service Oriented Architecture (SOA)
SOA is the 5th big paradigm change in the IT industry
SOA
Internet
Business Applications
PCs / Servers
Data Centers
1st Wave
1970s
2nd Wave
1980s
3rd Wave
1990s
4th Wave
2000 - 2005
5th Wave
2006 - 2010
The Drivers of SOA
SOA changes the mindset in companies, so that:
IT systems are no longer separate silos that shall not interact
– Integration
Legacy systems are to be exploited much more because migration
attempts of mission critical systems often destroy value
– Modernization
Processes also need to be automated, not only departments
– Business Process Management
SOA is the end of IT-driven technology and the beginning of the economic
use of existing key applications
SOA is Key for Both Business Lines
Enterprise Transaction
Systems (ETS)
crossvision
(The SOA Suite)
LegacyModernisierung
Modernization of Adabas
and Natural applications
Transfer of existing
customer base to
the SOA world
New growth potential
Our Competitive Differentiation
IBM
Oracle
SAP
Microsoft
Tibco
BEA
Webmethods
Progress
SOA Suite based
on open components
Integrated suite
Hardware vendor independent
Know-how of legacy systems
Software vendor independent
Worldwide sales and service presence
Where We Stand – Today
The transformation of Software AG
is a long-term task and not yet finished
Software AG
Enterprise Value
Development
Employee
Development
Growth
Drivers
Image
Development
Ecosystem
Development
Where We Stand – Today
Software AG
Enterprise Value
Development
Employee
Development
Growth
Drivers
Image
Development
Ecosystem
Development
Employee Development
Market
Universities
Get the Best
Leadership*
Development
Job Skill*
Development
Career
Development
High Potential
Group
International
Assignments
Trainee
Programm
C*
Certified
Employees: Impressions from Global
Kickoff in Berlin 2006
Where We Stand - Today
Software AG
Enterprise Value
Development
Employee
Development
Growth
Drivers
Image
Development
Ecosystem
Development
Growth in Emerging Countries:
Latin America
Mexico
Venezuela
Brazil
Chile
Middle and Near East
Turkey
Israel
Saudi
Arabia
India
Gulf States
(Bahrain)
Eastern Europa and Asia
Russia
Poland
Czech
Republic
Hong Kong
Singapore
Results 2005
Results of Emerging Countries (in € million)
Revenue
EBITA
+71%
37.9
+114%
22.1
7.5
3.5
FY 2004
FY 2005
Growth: Supported by Acquisitions
30
30
DWL
PureEdge
Meiosys
Isogon
20
Gluecode
16
Ascential
Teleo
12
FrontBridge
Siebel
MessageCast
Context Media
Groove
Networks
TimesTen
Equitant
Corio
10
AlphaBlox
Candle
0
PeopleSoft
CrossAccess
Navision
…
…
Collaxa
…
Source: UBS Investment Bank & MergerStat
9
SeeBeyond
StorageTek
8
Triversity
iLytix
Tarantella
…
3
Casabac
A2i
APS
…
Sabratec
Growth: Principles for Acquisitions
Strengthen organic growth
Increase EPS
Manage integration risks
Acceleration of market success in existing and new markets
Size alone is not an acquisition goal
Software AG
Enterprise Value
Development
Employee
Employment
Image
Development
Growth
Drivers
Ecosystem
Development
Strategic Marketing: Image Development
Software AG
Image Development
Software AG
Products
Alliance
Network
Main
Advantages
Mission-critical
systems
Open
Standards
SOA Leader
High-tech
Product Suite
Customerfocused SW
Company
Our Role
Middle-sized
Business
European-
based
The Alternative
Growth in all
Geographies
Global Thought
Leader in SW
Themes
Innovator
Software AG
Enterprise Value
Development
Employee
Development
Growth
Image
Development
Ecosystem
Development
Ecosystem Development: e.g. Technology Partners
Composite Applications
Business Process Management
Process Design &
Process Monitoring
Metadata Repository
Metadata Policies & Rules
Process Workflow
Process Integration
Service Orchestration and
Information Integration
Legacy Modernization
The Next Step Towards Market Leadership:
10 % Growth
Our goal: Global market leadership
in specific segments
2006
6% Revenue Growth
22% EBIT Margin
2005
Back to Growth
ETS & Integration Focus
2004
2003
10% Revenue Growth
Financial Turnaround
Achieved Achieved Achieved AGM 2006 / May 12, 2006 / 31 Software AG
Our Success Story Continues
We have a strong team
We are successful
We have a clear goal
Our market has a large potential
and
We thank you for your confidence!
Results
Full Year 2005 (IFRS)
Arnd Zinnhardt
Chief Financial Officer
Revenue 2005
(in mn. €)
2005
2004
∆%
License
131.6
114.2
+15.2%
Maintenance
181.4
182.6
-0.7%
Service
122.7
112.8
+8.8%
2.3
1.8
438.0
411.4
Other
TOTAL
+6.5%
License Revenue by Product Suite 2005
(in mn. €)
2005
2004
∆%
ETS*
96.0
85.9
+12%
crossvision**
26.0
19.9
+31%
Third Party
4.3
6.2
Other
5.3
2.2
131.6
114.2
TOTAL
+15%
* Enterprise Transaction Systems (Adabas and Natural)
** Compares to XML Integration Software AG products of previous year
Revenue by Region 2005
Total
2005
North America/Northern Europe
2004
Revenue
2005
21.4
2004
EBITA
2005
49.0
49.7
100.3
58.4
23.8
171.4
97.7
179.9
51.5
111.4
54.2
Central/Asia
2004
Revenue
2005
2004
EBITA
2005
27.3
32.6
32.2
35.7
117.9
50.0
19.4
20.2
South
2004
Revenue
2005
2004
EBITA
2005
(in mn. €)
66.0
32.3
70.1
31.4
37.5
34.1
129.7
141.7
12.9
9.9
Project Services + Other
License
Maintenance
Headcount and Revenue Development 2005
Headcount
Revenue
Total: 2,750 (+13%)*
Total: 438.0 (+6.5%)
German
Sales Offices
Germany
15%
HQ
10%
18%
Rest of World
Rest of World
* in FTE
Operating Result 2005
(in mn. €)
2005
2004
∆%
Total Revenue
438.0
411.4
+6.5%
Cost of Sales
-143.5
-137.4
+4.4%
Gross Profit
294.5
274.0
+7.5%
Margin in %
67.2%
66.6%
-43.2
-49.0
-11.8%
-109.1
-89.1
+22.4%
Administration
-48.3
-45.3
+6.6%
Other income/expense
+2.5
-4.8
EBITA
96.4
85.8*
R&D
Sales & Marketing
+12.4%
* excl. proceeds from equity sale (Sale of SAP-SI shares)
Net Result 2005
(in mn. €)
EBITA
Amortisation
EBIT
Margin in % of revenue
Income from investments
2005
2004
∆%
96.4
85.8*
+12.4%
-
-1.9
96.4
83.9*
22.0%
20.4%
-
+24.5
+14.9%
Financial income
+4.7
+3.3
Profit before tax
101.1
111.7
+42.4%
-9.5%
Taxes
-39.3
-34.5
+13.9%
Net result
61.8
77.2
-19.9%
Net result adjusted
61.8
53.2*
+16.2%
EPS adjusted
2.24
1.95*
* excl. proceeds from equity sale (Sale of SAP-SI shares)
Balance Sheet 2005
(in mn. €)
Assets
Dec. 31,
2005
Liabilities
Dec. 31,
2004
Dec. 31
2005
Dec. 31
2004
Short-term
liabilities
161.6
Cash and cash
equivalents
119.1
94.3
110.3
150.3
Trade receivables
124.3
33.5
15.5
Long-term
liabilities
Deferred taxes
4.3
63.0
Deferred income
5.1
35.1
4.5
Inventories
and other assets
Deferred taxes
Prepaid expenses
35.7
5.3
242.7
Fixed Assets
(Goodwill 188.1/174.6)
222.0
599.3
Total
510.7
136.4
94.4
33.3
26.8
12.5
12.
53.4
87.3
33.3
12.8
393.0
599.3
Shareholders‘ Equity
(Ratio: 65.6%/63.4%)
Total
125.8
323.6
269.2
510.7
509.1
Cash Flow Analysis 2005
(in mn. €)
Operating Cash Flow
./. CapEx
Free Cash Flow
as % of revenue
Free Cash Flow per share (in €)
2005
2004
55.7
28.9
-10.3
-6.9
45.4
22.0
10.4%
5.3%
1.65
0.81
Results
1st Quarter 2006 (IFRS)
Revenue
Q1 2006
(in mn. €)
∆%
2006
2005
∆%
License
33.4
27.0
+24%
+19%
Maintenance
47.5
43.7
+9%
+4%
Service
32.2
29.2
+10%
+9%
Other
0.7
0.4
Total
113.8
100.3
+13%
+10%
at constant
currency
Growth Driver: Geographic Expansion
Q1 2006
Revenue by Main Markets
Total Revenue: 113.8 mn. €
Growth
yoy
USA/Canada
28.4
2006
Growth Markets
12 %
UK
9%
2005
USA/Canada
25 %
25.5
+11%
Spain
2006
18.8
2005
+7%
17.6
Germany
Germany
12 %
Others
26 %
Spain
16 %
2006
13.5
2005
-9%
14.9
Growth Markets
2006
2005
14.0
8.8
+59%
UK
2006
2005 6.9
10.2
+48%
Result – Q1 2006
Q1
2006
Q1
2005
∆
%
(in mn. €)
Total Revenue
113.8
100.3
+13%
Cost of Sales
-36.7
-34.8
+5%
+18%
Gross Profit
77.1
65.5
Margin in %
67.8%
65.3%
Operative Cost
-55.6
-47.5
-31.0
-24.1
+29%
21.5
18.0
+20%
18.9%
17.9%
thereof Sales & Marketing
EBIT
Margin in %
+17%
Financial income
2.1
1.2
+75%
Profit before tax
23.6
19.2
+23%
Taxes
-9.2
-7.5
+23%
Net income
14.4
11.7
+23%
EPS*
0.51
0.43
+19%
* Basic and fully diluted
(Number of shares in Q1 2005: 27.3 mn. / 2006: 28.0 mn., 28.1 mn.)
Outlook 2006
Growth in Revenue and Profit
(in mn. €)
2005a
2006e Forecast*
Q1 2006a*
Revenue
438.0
Growth: 10%
+10%
- License
131.6
Growth: 18 to 20%
+19%
- Maintenance
181.4
Stable
+ 4%
- Services
122.7
Growth: 12 to 15%
+ 9%
EBIT Margin
Revenue BL ETS
Revenue BL crossvision
22.0%
21 to 23%
+100 bp
325.2
Growth: 5 to 7%
+10%
91.5
Growth: 20 to 30%
+15%
* Change constant currency
Resolutions AGM 2006
Item 2
Use of non-appropriate balance sheet profits / dividend
Item 3
Ratifying the actions of the Executive Board members for fiscal year 2005
Item 4
Ratifying the actions of the Supervisory Board members for fiscal year 2005
Item 5
Appointment of the financial auditor for fiscal year 2006
Item 6
Insertion of a new paragraph 5 in § 5 of the Articles of Association /
Authorization of the Executive Board to increase the registered share
capital (authorized capital)
Item 7
Authorization to acquire own shares
Item 8
Amendment of paragraph 16 sentence 2 and paragraph 17 of the Articles
of Association (UMAG / Record Date)
Item 9
Amendment of paragraph 18 of the Articles of Association
(UMAG / speaker time)
Item 10
Supervisory Board remuneration
This presentation contains forward-looking statements based on beliefs of Software AG management. Such statements reflect current views of
Software AG with respect to future events and results and are subject to risks and uncertainties. Actual results may vary materially from those
projected here, due to factors including changes in general economic and business conditions, changes in currency exchange, the introduction of
competing products, lack of market acceptance of new products, services or technologies and changes in business strategy. Software AG does not
intend or assume any obligation to update these forward-looking statements.

06_05_12 Annual General Meeting_engl_inkl

Transcription

Similar documents

GINNI FILAMENTS LIMITED

No.l S KYLI - TWA Seniors Club

February

Term 1, Week 6, 1/3/16 - Camdenville Public School

Spring 2014 - One To One Enfield

Bathhouses - Ontario Association of Social Workers

AGM Brochure - Inner Wheel District 330

2016-103 - Water View News

Introducing the GB14 Gloss Boss Auto Scrubber

NSB-AGM 94R Battery