ASSURED 2011

Consolidated Financial Statements IFRS

(1)
(2)
(3)
(4)
(5)
(6)
(7)
(8)
(9)
(10)
(11)
(12)
(13)
(14)
(15)
(16)
(17)
(18)
(19)
(20)
(21)
(22)
(23)
(24)
(25)
(26)
(27)
(28)
(29)
(30)
(31)
(32)
(33)
(34)
(35)

Notes to the Consolidated Financial Statements

(35) Subsidiaries, Associates, and Other Equity Investments

as at December 31, 2011	Ownership	Total Revenue in 2011¹⁾	Profit/Loss (–) after Tax for 2011¹⁾	Total Equity as at 12/31/2011¹⁾	Number of Employees as at 12/31/2011²⁾
Name and Location of Company	%	€(000)	€(000)	€(000)
I. Fully Consolidated Subsidiaries
GERMANY
Crossgate AG, Munich ³⁾	100.0	3,784	–2,281	119,615	120
Crossgate Technologies AG, Göttingen – Rosdorf ^{3), 4)}	100.0	1,310	899	–797	77
OutlookSoft Deutschland GmbH, Walldorf ⁴⁾	100.0	0	–1	–1	0
Right Hemisphere GmbH, Munich ^{3), 4)}	100.0	66	3	36	1
SAF Germany GmbH, Konstanz ⁴⁾	100.0	582	27	387	0
SAP Beteiligungs GmbH, Walldorf	100.0	3	2	49	0
SAP Deutschland AG & Co. KG, Walldorf ^{8), 9)}	100.0	2,759,982	606,243	1,285,917	4,723
SAP Dritte Beteiligungs- und Vermögensverwaltung GmbH, Walldorf ^{4), 5), 8)}	100.0	0	61,197	553,154	0
SAP Erste Beteiligungs- und Vermögensverwaltung GmbH, Walldorf ^{5), 8)}	100.0	0	–23,158	804,545	0
SAP Foreign Holdings GmbH, Walldorf	100.0	0	0	–61	0
SAP Fünfte Beteiligungs- und Vermögensverwaltung GmbH, Walldorf ^{4), 8)}	100.0	0	0	2,318,309	0
SAP Hosting Beteiligungs GmbH, St.Leon-Rot	100.0	0	0	26	0
SAP Portals Europe GmbH, Walldorf ⁴⁾	100.0	0	644	124,115	0
SAP Portals Holding Beteiligungs GmbH, Walldorf ⁴⁾	100.0	0	–30	928,937	0
SAP Projektverwaltungs- und Beteiligungs GmbH, Walldorf ^{4), 5), 8)}	100.0	0	32,248	323,902	0
SAP Puerto Rico GmbH, Walldorf	100.0	27,447	–2,991	–2,366	34
SAP Retail Solutions Beteiligungsgesellschaft mbH, Walldorf	100.0	0	–679	13,822	0
SAP Sechste Beteiligungs- und Vermögensverwaltungs GmbH, Walldorf ^{3), 8)}	100.0	0	0	25	0
SAP Vierte Beteiligungs- und Vermögensverwaltung GmbH, Walldorf	100.0	0	0	25	0
SAP Zweite Beteiligungs- und Vermögensverwaltung GmbH, Walldorf ^{4), 5), 8)}	100.0	0	80,695	164,750	0
Sybase Germany GmbH, Düsseldorf ⁴⁾	100.0	34,226	1,854	–1,119	156
TechniData BCS GmbH, Siegen	100.0	4,162	86	831	31
TechniData GmbH, Markdorf	100.0	503	–17,005	80,013	0

REST OF EUROPE, MIDDLE EAST, AFRICA
Ambin Properties (Proprietary) Limited, Johannesburg, South Africa ⁴⁾	100.0	0	243	–233	0
Armstrong Laing Limited, London, United Kingdom ⁴⁾	100.0	0	–1	3,065	0
Business Objects (UK) Limited, London, United Kingdom ⁴⁾	100.0	0	–2,368	30,535	0
Business Objects Holding B.V., ’s-Hertogenbosch, the Netherlands ⁴⁾	100.0	0	184	4,208	0
Business Objects Software Limited, Dublin, Ireland	100.0	752,508	276,843	3,017,120	224
Cartesis UK Limited, London, United Kingdom ⁴⁾	100.0	0	–30	1,119	0
Christie Partners Holding CV, Rotterdam, the Netherlands ⁴⁾	100.0	0	–1	–21,824	0
Crossgate Italia S.p.A., Milan, Italy ^{3), 4)}	100.0	364	–60	594	13
Crossgate S.a.r.l., Paris, France ^{3), 4)}	100.0	251	–378	–3,778	3
Crossgate UK Ltd., Slough, United Kingdom ^{3), 4)}	100.0	184	–278	–5,245	6
Crystal Decisions (Ireland) Limited, Dublin, Ireland ⁴⁾	100.0	0	–85	44,527	0
Crystal Decisions France S.A.S., Levallois-Perret, France ⁴⁾	100.0	0	5,497	6,655	0
Crystal Decisions Holding Limited, Dublin, Ireland ⁴⁾	100.0	0	152	77,708	0
Crystal Decisions UK Limited, London, United Kingdom ⁴⁾	100.0	0	12	2,202	0
Edgewing Limited, London, United Kingdom ⁴⁾	100.0	0	0	–17	0
Joe D Partners CV, Utrecht, the Netherlands ⁴⁾	100.0	0	–16,229	621,539	0
Limited Liability Company SAP CIS, Moscow, Russia	100.0	349,593	31,405	109,845	619
Limited Liability Company SAP Kazakhstan, Almaty, Kazakhstan	100.0	33,086	3,955	5,567	15
Limited Liability Company SAP Ukraine, Kiev, Ukraine	100.0	16,599	–923	–2,551	93
Merlin Systems Oy, Espoo, Finland ⁴⁾	100.0	9,463	692	2,569	29
S.A.P. Nederland B.V., ’s-Hertogenbosch, the Netherlands	100.0	376,155	47,926	380,050	398
SAF Simulation, Analysis and Forecasting Slovakia s.r.o., Bratislava, Slovakia ⁴⁾	100.0	1,311	103	272	23
SAP – NOVABASE, A.C.E., Porto Salvo, Portugal ⁴⁾	66.7	–	–	–	0
SAP (Schweiz) AG, Biel, Switzerland	100.0	576,669	89,183	168,840	600
SAP (UK) Limited, Feltham, United Kingdom	100.0	673,825	50,362	71,201	1,083
SAP Belgium – Systems Applications and Products NV/SA, Brussels, Belgium ⁴⁾	100.0	177,627	12,751	110,734	235
SAP BULGARIA EOOD, Sofia, Bulgaria ⁴⁾	100.0	2,636	–142	653	10
SAP Business Services Center Europe, s.r.o., Prague, Czech Republic	100.0	21,750	772	7,028	316
SAP Commercial Services Ltd., Valletta, Malta	100.0	0	–2	–12	0
SAP CR, spol. s r.o., Prague, Czech Republic	100.0	85,560	9,276	29,971	237
SAP CYPRUS Ltd, Nicosia, Cyprus ⁴⁾	100.0	2,731	–137	–1,961	2
SAP d.o.o., Zagreb, Croatia	100.0	6,413	–469	–883	13
SAP Danmark A/S, Copenhagen, Denmark	100.0	147,497	16,985	31,776	158
SAP Egypt LLC, Cairo, Egypt	100.0	4,633	–2,713	–4,622	35
SAP EMEA Inside Sales S.L., Barcelona, Spain	100.0	16,399	525	2,178	124
SAP España – Sistemas, Aplicaciones y Productos en la Informática, S.A., Madrid, Spain ⁴⁾	100.0	233,879	22,918	200,433	356
SAP Estonia OÜ, Tallinn, Estonia	100.0	1,507	–142	–126	1
SAP Finland Oy, Espoo, Finland	100.0	100,698	5,154	70,063	106
SAP France Holding, Paris, France	100.0	1,382	89,758	4,969,849	4
SAP France, Paris, France ⁴⁾	100.0	743,215	189,451	1,602,884	1,430
SAP HELLAS S.A. – SYSTEMS, APPLICATIONS AND PRODUCTS IN DATA PROCESSING, Athens, Greece	100.0	28,669	1,620	9,233	53
SAP Hungary Rendszerek, Alkalmazások és Termékek az Adatfeldolgozásban Informatikai Kft., Budapest, Hungary	100.0	43,825	–91	15,693	404
SAP Ireland Limited, Dublin, Ireland	100.0	3,237	355	–825	0
SAP Ireland US-Financial Services Ltd., Dublin, Ireland ⁴⁾	100.0	255	165,948	2,537,691	3
SAP Israel Ltd., Ra’anana, Israel	100.0	21,717	2,636	–706	56
SAP Italia Sistemi Applicazioni Prodotti in Data Processing S.p.A., Milan, Italy ⁴⁾	100.0	328,025	25,211	267,781	508
SAP Labs Bulgaria EOOD, Sofia, Bulgaria	100.0	21,310	1,040	3,115	457
SAP Labs Finland Oy, Espoo, Finland ⁴⁾	100.0	6,617	213	45,993	45
SAP LABS France S.A.S., Mougins, France	100.0	41,258	1,947	19,731	277
SAP Labs Israel Ltd., Ra’anana, Israel	100.0	40,131	1,276	13,238	291
SAP Latvia SIA, Riga, Latvia	100.0	1,979	34	–482	1
SAP Malta Investments Ltd., Valletta, Malta	100.0	0	–2	–12	0
SAP Middle East and North Africa L.L.C., Dubai, United Arab Emirates	49.0	76,783	–16,460	4,596	198
SAP Nederland Holding B.V., ’s-Hertogenbosch, the Netherlands ⁴⁾	100.0	0	2,548	521,529	0
SAP Norge AS, Lysaker, Norway	100.0	74,740	6,172	23,724	83
SAP Österreich GmbH, Vienna, Austria	100.0	174,889	20,005	33,508	339
SAP Polska Sp. z o.o., Warsaw, Poland	100.0	69,864	7,602	33,206	119
SAP Portals Israel Ltd., Ra’anana, Israel ⁴⁾	100.0	61,924	19,502	35,182	311
SAP Portugal – Sistemas, Aplicações e Produtos Informáticos, Sociedade Unipessoal, Lda., Porto Salvo, Portugal	100.0	54,549	3,235	11,647	96
SAP Public Services Hungary Kft., Budapest, Hungary	100.0	1,314	108	431	5
SAP Romania SRL, Bucharest, Romania	100.0	16,153	2,235	7,588	100
SAP Saudi Arabia Software Services Limited, Riyadh, Kingdom of Saudi Arabia	100.0	23,828	2,069	33,470	26
SAP Saudi Arabia Software Trading Limited, Riyadh, Kingdom of Saudi Arabia	51.0	18,829	–5,469	2,349	36
SAP Service and Support Centre (Ireland) Limited, Dublin, Ireland	100.0	63,779	1,687	29,372	715
SAP sistemi, aplikacije in produkti za obdelavo podatkov d.o.o., Ljubljana, Slovenia	100.0	16,352	749	7,332	24
SAP Slovensko s.r.o., Bratislava, Slovakia	100.0	35,364	2,631	20,754	160
SAP Svenska Aktiebolag, Stockholm, Sweden	100.0	140,440	12,119	23,763	119
SAP Türkiye Yazilim Üretim ve Ticaret A.S., Istanbul, Turkey	100.0	51,901	–1,720	12,499	120
SAP UAB (Lithuania),Vilnius, Lithuania	100.0	3,199	–104	233	3
SAPV (Mauritius),Ebene, Mauritius ^3),7)	0	0	–36	13,314	0
SAP West Balkans d.o.o., Belgrade, Serbia	100.0	12,068	2,001	4,196	27
Sybase (Schweiz) GmbH, Zurich, Switzerland ⁴⁾	100.0	1,526	72	1,301	6
Sybase (UK) Limited, Maidenhead, United Kingdom ⁴⁾	100.0	39,010	7,253	6,440	200
Sybase 365 Limited, Maidenhead, United Kingdom ⁴⁾	100.0	0	0	0	0
Sybase ApS, Copenhagen, Denmark ⁴⁾	100.0	336	19	456	2
Sybase Europe B.V., Utrecht, the Netherlands ⁴⁾	100.0	177,866	4,219	23,355	45
Sybase France S.a.r.l., Paris, France ⁴⁾	100.0	46,298	12,006	1,653	114
Sybase Iberia S.L., Madrid, Spain ⁴⁾	100.0	13,089	–22	–21,745	33
Sybase Italia SRL, Milan, Italy ⁴⁾	100.0	7,968	303	–150	32
Sybase Luxembourg S.a.r.l., Luxembourg ⁴⁾	100.0	213	0	–25	0
Sybase Nederland B.V., Utrecht, the Netherlands ⁴⁾	100.0	1,926	157	–1,535	12
Sybase Norge AS, Oslo, Norway ⁴⁾	100.0	613	71	895	2
Sybase Software BVBA/SPRL, Zaventem, Belgium ⁴⁾	100.0	2,833	89	947	16
Sybase South Africa (Proprietary) Limited, Johannesburg, South Africa ⁴⁾	100.0	21,609	1,424	–3,109	131
Sybase Sverige AB, Kista, Sweden ⁴⁾	100.0	5,546	174	1,726	22
Systems Applications Products Africa Region (Proprietary) Limited, Johannesburg, South Africa ⁴⁾	100.0	31,680	6,221	20,611	15
Systems Applications Products Africa (Proprietary) Limited, Johannesburg, South Africa	100.0	0	4,098	85,410	0
Systems Applications Products Nigeria Limited, Abuja, Nigeria ⁴⁾	100.0	13,435	955	2,690	34
Systems Applications Products South Africa (Proprietary) Limited, Johannesburg, South Africa ⁴⁾	89.5	191,933	7,618	33,369	317
TomorrowNow (UK) Limited, Feltham, United Kingdom ⁴⁾	100.0	0	–6	22	0
TomorrowNow Nederland B.V., Amsterdam, the Netherlands	100.0	0	–67	–3,275	0

AMERICAS
110405, Inc., Newtown Square, Pennsylvania, USA	100.0	0	0	16,147	0
Business Objects Argentina S.R.L., Buenos Aires, Argentina ⁴⁾	100.0	0	0	79	0
Business Objects Option, LLC, Wilmington, Delaware, USA	100.0	0	1,004	65,757	0
Clear Standards, Inc., Sterling, Virginia, USA ⁴⁾	100.0	1,061	–1,189	15,251	0
Crossgate Inc., Atlanta, Georgia, USA ^{3), 4)}	100.0	313	–921	–7,335	24
Extended Systems, Inc., Boise, Idaho, USA ⁴⁾	100.0	0	–41	17,557	0
Financial Fusion, Inc., Concord, Massachusetts, USA ⁴⁾	100.0	0	0	0	0
Frictionless Commerce, Inc., Newtown Square, Pennsylvania, USA ⁴⁾	100.0	926	–671	36,524	0
iAnywhere Solutions Canada Ltd., Waterloo, Canada ⁴⁾	100.0	1,367	1,313	3,385	142
iAnywhere Solutions Inc., Dublin, California, USA ⁴⁾	100.0	30,102	66,396	177,422	67
INEA Corporation USA, Wilmington, Delaware, USA ⁴⁾	100.0	0	3	333	0
Inxight Federal Systems Group, Inc., Wilmington, Delaware, USA ⁴⁾	100.0	0	–1	99	0
Khimetrics Canada, Inc., Montreal, Canada ⁴⁾	100.0	–	–	–	0
Liberia LLC, Wilmington, Delaware, USA ⁴⁾	100.0	–	–	–	0
Maxware, Inc., Newtown Square, Pennsylvania, USA ⁴⁾	100.0	190	45	–377	0
Right Hemisphere Inc., San Ramon, California, USA ^{3), 4)}	100.0	756	–1,605	48,508	28
SAP America, Inc., Newtown Square, Pennsylvania, USA	100.0	3,186,980	257,874	1,520,738	5,740
SAP Andina y del Caribe C.A., Caracas, Venezuela	100.0	24,069	2,085	2,779	36
SAP ARGENTINA S.A., Buenos Aires, Argentina	100.0	156,386	10,194	29,911	573
SAP Brasil Ltda, São Paulo, Brazil	100.0	446,070	519	97,702	1,275
SAP Canada Inc., Toronto, Canada	100.0	674,306	47,090	451,864	2,058
SAP Colombia S.A.S., Bogota, Colombia	100.0	65,014	–6,671	–10,507	159
SAP Costa Rica, S.A., San José, Costa Rica	100.0	7,409	423	2,502	9
SAP Financial Inc., Toronto, Canada ⁴⁾	100.0	0	23,551	7,743	0
SAP Global Marketing, Inc., New York, New York, USA	100.0	238,518	3,892	22,759	480
SAP Government Support & Services, Inc., Newtown Square, Pennsylvania, USA ⁴⁾	100.0	97,000	22,037	148,490	183
SAP Industries, Inc., Newtown Square, Pennsylvania, USA ⁴⁾	100.0	358,574	42,453	401,089	403
SAP International, Inc., Miami, Florida, USA ⁴⁾	100.0	56,008	809	12,855	50
SAP Investments, Inc., Wilmington, Delaware, USA ⁴⁾	100.0	0	21,303	659,558	0
SAP LABS, LLC, Palo Alto, California, USA ⁴⁾	100.0	458,999	20,168	137,595	2,029
SAP México S.A. de C.V., Mexico City, Mexico	100.0	223,775	–11,504	–10,147	408
SAP PERU S.A.C., Lima, Peru	100.0	24,280	209	1,333	44
SAP Public Services, Inc., Washington, D.C., USA ⁴⁾	100.0	334,786	49,020	263,747	237
SAP Technologies Inc., Palo Alto, California, USA ⁴⁾	100.0	0	0	0	0
SAP Ventures Fund I, L.P., Wilmington, Delaware, USA ^{3), 7)}	0	0	4,455	15,481	0
Sybase 365 LLC, Dublin, California, USA ⁴⁾	100.0	49,237	–6,371	92,932	128
Sybase 365 Ltd., Tortola, British Virgin Islands ⁴⁾	100.0	0	0	–1,990	0
Sybase Argentina S.A., Buenos Aires, Argentina ⁴⁾	100.0	2,251	351	1,469	12
Sybase Canada Ltd., Waterloo, Canada ⁴⁾	100.0	18,579	990	5,105	69
Sybase de Mexico, S. De R.L. de C.V., Mexico City, Mexico ⁴⁾	100.0	5,805	–1,586	–135	27
Sybase do Brasil Software Ltda., São Paulo, Brazil ⁴⁾	100.0	17,328	–1,178	–316	31
Sybase Global LLC, Dublin, California, USA ⁴⁾	100.0	0	0	7,529	0
Sybase Intl Holdings LLC, Dublin, California, USA ⁴⁾	100.0	0	0	12,047	0
Sybase, Inc., Dublin, California, USA ⁴⁾	100.0	355,879	23,167	4,509,013	1,225
TomorrowNow, Inc., Bryan, Texas, USA ⁴⁾	100.0	16	421,025	–192,873	3

ASIA PACIFIC JAPAN
Beijing Zhang Zhong Hu Dong Information Technology Co. Ltd., Beijing, China ⁴⁾	100.0	1,676	254	–603	6
Business Objects Malaysia Sdn. Bhd., Kuala Lumpur, Malaysia ⁴⁾	100.0	0	0	261	0
Business Objects Software (Shanghai) Co., Ltd., Shanghai, China ⁴⁾	100.0	7,444	1,715	7,102	108
iAnywhere Solutions K.K., Tokyo, Japan ⁴⁾	100.0	8,845	–162	–2,903	21
PT SAP Indonesia, Jakarta, Indonesia	100.0	44,166	5,090	13,989	49
PT Sybase 365 Indonesia, Jakarta, Indonesia ⁴⁾	100.0	94	–6	229	0
Right Hemisphere Ltd., Auckland, New Zealand ³⁾	100.0	547	–1,365	4,953	39
Ruan Lian Technologies (Beijing) Co. Ltd., Beijing, China ⁴⁾	100.0	0	–26	–1,164	1
SAP (Beijing) Software System Co., Ltd., Beijing, China	100.0	307,921	–10,043	26,608	2,652
SAP Asia Pte Limited, Singapore, Singapore	100.0	259,969	31,471	58,537	676
SAP Asia (Vietnam) Co. Ltd., Ho Chi Minh City, Vietnam ^{3), 4)}	100.0	382	27	405	34
SAP Australia Pty Limited, Sydney, Australia	100.0	426,967	25,988	259,227	615
SAP HONG KONG CO. LIMITED, Hong Kong, China	100.0	32,187	–937	1,163	50
SAP INDIA (HOLDING) PTE LTD., Singapore, Singapore	100.0	0	–6	300	0
SAP INDIA PRIVATE LIMITED, Bangalore, India	100.0	343,699	38,868	185,953	1,518
SAP JAPAN Co., Ltd., Tokyo, Japan	100.0	639,458	48,744	528,303	1,053
SAP Korea Limited, Seoul, South Korea	100.0	118,258	11,014	27,358	215
SAP Labs India Private Limited, Bangalore, India	100.0	153,304	–4,379	3,569	4,138
SAP Malaysia Sdn. Bhd., Kuala Lumpur, Malaysia	100.0	59,606	6,610	18,383	122
SAP New Zealand Limited, Auckland, New Zealand	100.0	42,207	4,324	33,945	42
SAP PHILIPPINES, INC., Makati, Philippines	100.0	28,426	879	9,090	38
SAP R&D Center Korea, Inc., Seoul, South Korea ⁴⁾	100.0	9,009	347	15,944	90
SAP SYSTEMS, APPLICATIONS AND PRODUCTS IN DATA PROCESSING (THAILAND) LTD., Bangkok, Thailand ⁶⁾	49.0	45,622	2,396	35,215	50
SAP TAIWAN CO., LTD., Taipei, Taiwan	100.0	58,408	6,271	26,331	71
Sybase (N.Z.) Limited, Wellington, New Zealand ⁴⁾	100.0	2,564	750	4,389	5
Sybase (Singapore) Pte Limited, Singapore ⁴⁾	100.0	9,539	–22	974	168
Sybase 365 Ltd. (HK),Hong Kong, China ⁴⁾	100.0	–	–	–	0
Sybase Australia Pty Limited, Sydney, Australia ⁴⁾	100.0	15,267	2,100	8,357	35
Sybase Hong Kong Limited, Hong Kong, China ⁴⁾	100.0	8,975	–150	223	69
Sybase India, Ltd., Mumbai, India ⁴⁾	100.0	0	161	2,675	0
Sybase K.K., Tokyo, Japan ⁴⁾	100.0	20,690	510	1,597	66
Sybase Korea, Ltd., Seoul, South Korea ⁴⁾	100.0	9,364	326	2,877	47
Sybase Philippines Inc., Makati, Philippines ⁴⁾	100.0	0	1	–11	0
Sybase Software (China) Co. Ltd., Beijing, China ⁴⁾	100.0	16,922	2,055	16,536	396
Sybase Software (India) Private Ltd, Mumbai, India ⁴⁾	100.0	3,904	257	6,741	196
Sybase Software (Malaysia) Sdn. Bhd., Kuala Lumpur, Malaysia ⁴⁾	100.0	2,387	103	1,643	3
Sybase Taiwan Co. Ltd., Taipei, Taiwan ⁴⁾	100.0	3,913	–430	1,019	19
Technidata EHS Solutions Asia Pte Limited, Singapore ⁴⁾	100.0	0	–51	47	0
TomorrowNow Australia Pty Limited, Sydney, Australia ⁴⁾	100.0	0	6	404	0
TomorrowNow Singapore Pte Limited, Singapore, Singapore ⁴⁾	100.0	0	–10	79	0

II. INVESTMENTS IN ASSOCIATES
Alteryx Inc., Orange, California, USA ⁴⁾	9.20	18,338	–1,587	–4,456	132
ArisGlobal Holdings, LLC, Stamford, Connecticut, USA ⁴⁾	16.00	32,837	–3,017	2,283	696
China DataCom Corporation Limited, Guangzhou, China ⁴⁾	28.30	0	0	40,276	0
Greater Pacific Capital (Cayman),L.P., Grand Cayman, Cayman Islands	5.35	–	–	–	0
Original1 GmbH, Frankfurt am Main, Germany	40.00	60	–4,405	3,494	17
Procurement Negócios Eletrônicos S/A, Rio de Janeiro, Brazil ⁴⁾	17.00	19,484	1,451	15,773	0
TechniData IT–Service GmbH, Markdorf, Germany ⁴⁾	26.00	12,300	600	1,254	101
¹⁾ These figures are based on our local IFRS financial statements prior to eliminations resulting from consolidation and therefore do not reflect the contribution of these companies included in the Consolidated Financial Statements. The translation of the equity into Group currency is based on period–end closing exchange rates, and on average exchange rates for revenue and net income/loss. ²⁾ As at December 31, 2011, including managing directors, in FTE ³⁾ Consolidated for the first time in 2011 ⁴⁾ Wholly or majority–owned entity of a subsidiary/investment of a subsidiary ⁵⁾ Entity with profit and loss transfer agreement ⁶⁾ The remaining shares are the preference shares without the right to vote. ⁷⁾ Consolidated in accordance with IAS 27 in conjunction with SIC 12 ⁸⁾ Pursuant to HGB, section 264 (3) or section 264b, the subsidiaries are exempt from applying certain legal requirements to their statutory stand–alone financial statements including the requirement to prepare notes to the financial statements and a review of operations, the requirement of independent audit and the requirement of public disclosure. ⁹⁾ Entity whose personally liable partner is SAP AG 273

as at December 31, 2011

Name and Location of Company
III. OTHER EQUITY INVESTMENTS (ownership of 5 percent or more)
Aepona Ltd., Belfast, Northern Ireland, United Kingdom
Apigee Corporation, Santa Clara, California, USA
Apriso Corporation, Long Beach, California, USA
Connectiva Systems, Inc., New York, New York, USA
Deutsches Forschungszentrum für Künstliche Intelligenz GmbH, Kaiserslautern, Germany
EIT ICT Labs GmbH, Berlin, Germany
Ignite Technologies, Inc., Frisco, Texas, USA
InnovationLab GmbH, Heidelberg, Germany
iTAC Software AG, Dernbach, Germany
iYogi Holdings Pvt. Ltd., Port Louis, Mauritius
Lavante, Inc., San José, California, USA
MuleSoft, Inc., San Francisco, California, USA
MVP Strategic Partnership Fund GmbH & Co. KG, Grünwald, Germany
On Deck Capital, Inc., New York, New York, USA
Onventis GmbH, Stuttgart, Germany
OpenX Software Limited, London, United Kingdom
PayScale Inc., Seattle, Washington, USA
Post for Systems, Cairo, Egypt
Powersim Corporation, Herndon, Virginia, USA
Realize Corporation, Tokyo, Japan
Retail Solutions, Inc. (legal name: T3C, Inc.), Mountain View, California, USA
Return Path, Inc., New York, New York, USA
Smart City Planning, Inc., Tokyo, Japan
SupplyOn AG, Hallbergmoos, Germany
InnoWerft – Technologie- und Gründerzentrum Walldorf Stiftung GmbH, Walldorf, Germany
The SAVO Group Ltd., Chicago, Illinois, USA

Walldorf, February 23, 2012

SAP AG
Walldorf, Baden
The Executive Board

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SAP Investor Relations

Consolidated Financial Statements IFRS

Notes to the Consolidated Financial Statements

(35) Subsidiaries, Associates, and Other Equity Investments

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