Ubisoft 2004 Annual Report Download - page 96

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94
UBISOFT > 2005 FINANCIAL REPORT
3.31.05 3.31.04
Pre-tax operating profit (loss) less financial profit (loss) 21,200 -7,672
Extraordinary result -2,375 9,073
Pre-tax profit (loss) 18,825 1,401
Fiscal result 12,413 3,027
As of March 31, 2005, the extraordinary result consisted mainly of capital losses on the sale of Ubi.com SA shares to Ubisoft
EMEA SARL.
Note 24 Income tax
As of March 31, 2005, the extent of fiscal integration remained unchanged. Ubisoft France SAS and Ubisoft EMEA SARL
are integrated fiscally, with Ubisoft Entertainment SA at the head of the group.
However, any tax savings arising from the use of deficits at the tax group's member companies will only be temporary, since
the company in question may alsousethe deficits for its own purposes.
The data for Ubisoft Entertainment SA, independent of the tax group, are as follows:
The income tax charge consists of the annual flat-rate corporation tax for 2002 of €30 thousand.
Atax debt related to the research tax credit was entered in the amount of €1,290 thousand.
With regard to tax integration, after the fiscal year result was charged to previous losses, the following remained:
lpreintegration losses chargedto Ubisoft Entertainment SA: €17 million;
llosses carried forward that were generated by the tax group: €10.5 million.
Note 23 Extraordinary result
Extraordinary income is income not related to the company's normal operations (French decree of 11.29.83, Article 14). It
is broken down as follows:
3.31.05
Extraordinary income:
Extraordinary income from capital transactions 2,484
2,484
Extraordinary expense
Extraordinary expense from capital transactions 4,859
4,859
Extraordinary result -2,375