Ubisoft 2003 Annual Report Download - page 80

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FINANCIAL REPORT
2004
80
General information on the listed companies (in euros):
Listed companies Gameloft SA Cybersearch
Book value as of March 31, 2004 13,391,746 148,800
Number of shares 12,238,047 24,000
Share value as of March 31, 2004 2.80 0.03
Write-back over the fiscal year - -
Depreciation over the fiscal year - -7,200
Provisions
As of 3/31/03 As of 3/31/04
Cumulative Increase Decrease Cumulative
Equity holdings 10,506 1,715 998 11,223
Bonds - 200 - 200
TOTAL 10,506 1,915 998 11,423
For an itemized breakdown, please refer to Section 2.2.7: Subsidiaries and affiliated companies.
Teamchman SA was placed in receivership on November 4,
2003. The equity investments and the bond issue relating to
this company were fully amortized. The fiscal year charge was
K¤1,421 for the equity investments and K¤200 for the other
long-term investments.
The equity investments were depreciated to the extent that
their value was less than the share held in the company’s net
position.
In light of their prospects for growth over the medium term, no
provision for depreciation was made regarding shares in Ubisoft
EMEA SARL and Ubi.com SA.
Note 4. Inventory and work-in-progress
Inventory and work-in-progress break down as follows:
As of 3/31/04 As of 3/31/03
Gross Provision Net Net
Goods 22 - 22 118
TOTAL 22 - 22 118
In light of the reorganization of flows among group compa-
nies, Ubisoft Entertainment SA, a group holding company,
will no longer be maintaining inventories of goods. The
remaining inventory concerns materials purchased on behalf
of subsidiaries.
Note 5. Advances and installments paid
Il s’agit principalement des avances garanties versées sur les contrats de licences pour un montant net de 20.491 K¤.
Compte tenu de l’insuffisance des perspectives de ventes de certains jeux, une dépréciation complémentaire de 17,9M¤ a été
prise en compte en résultat au 31 mars 2004.