Ubisoft 2012 Annual Report Download - page 146
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Financial Statements
2012
141
The change in equity investments is essentially due to:
- The acquisition of Owlient SAS for €31,755 thousand;
- The capital increase at Ubisoft Production Internationale SAS of €11,435 thousand;
- The capital increase at Ubisoft Montpellier SAS of €3,083 thousand;
- The sale of shares in connection with the legal reorganization of the French subsidiaries for
€2,128 thousand (see 3.5.1.3 Disposals and contribution of shares).
The change in other non-current investments reflects purchases and sales of treasury shares held
under the liquidity agreement.
Provisions
Opening
balance
Increase
Decrease
Closing
balance
Equity investments
2,140
10
1,024
1,126
Other non-current investments
87
-
87
-
TOTAL at 03/31/12
2,227
10
1,111
1,126
TOTAL at 03/31/11
1,272
1,529
574
2,227
The decrease in the provision for impairment of equity investments is mainly due to the increase in
useful value of shares in companies.
Note 4. Advances and prepayments made
These consist primarily of guaranteed advances on license agreements.
03/31/12
03/31/11
Net at opening
22,238
35,270
New guarantees
7,858
10,817
Reclassifications
-
24
Depreciation and
amortization
24,534
23,873
Net at year-end
5,562
22,238
Note 5. Trade receivables
At 03/31/12
At 03/31/11
Gross
Provision
Net
Net
Trade receivables
38,561
-
38,561
53,708
TOTAL
38,561
-
38,561
53,708
Trade receivables basically consist of intra-group receivables.
In financial year 2011/2012, the seasonality marked by weaker sales in the last quarter caused a
reduction in the accounts receivable balance.
Note 6. Other receivables
At 03/31/12
At 03/31/11
Gross
Provision
Net
Net
Suppliers - credit notes receivable
9,514
-
9,514
10,322
Government (VAT credit, tax)
10,474
-
10,474
10,292
Associated current account advances
6,038
-
6,038
17,848
Receivable relating to the equity swap (1)
14,643
-
14,643
29,112
Other miscellaneous debtors
9,675
-
9,675
23
TOTAL
50,344
-
50,344
67,597
(1) Receivable on CACIB valued at the closing share price of the Gameloft shares for remaining shares at March 31, 2012 as part
of the equity swap. The unrealized gain on the sale of Gameloft shares is “stored” in the balance sheet in other liabilities.