Ubisoft 2014 Annual Report Download - page 108

Financial statements
2014
103
1.6 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
The notes and tables that follow are presented in thousands of euros, unless expressly stated
otherwise.
1.6.1 COMPANY PRESENTING THE CONSOLIDATED FINANCIAL
STATEMENTS
Ubisoft Entertainment is domiciled in France.
The consolidated financial statements for the year ended March 31, 2014, cover Ubisoft Entertainment
SA and its subsidiaries (collectively referred to as “the Group”).
The consolidated financial statements were approved by the Board of Directors, which authorized their
publication on May 15, 2014. They will be presented for approval at the General Meeting on
July 1, 2014.
1.6.2 FINANCIAL YEAR HIGHLIGHTS
April 2013: Acquisition of 70% of the remaining capital in the studio Related Designs Software
GmbH
On April 1, 2013, Ubisoft GmbH acquired a 70% stake in the company Related Designs Software
GmbH, a studio based in Germany and a leader in the development of PC strategy games, most
notably the award-winning franchise Anno™. Ubisoft previously held a 30% stake in the company,
accounted for under the equity method.
April 2013: Subscription of a new credit line
Ubisoft Divertissements Inc. signed one new bilateral credit line for a period of 4 years in the amount
of €35 million. This credit line is guaranteed by Ubisoft Entertainment SA.
May 2013: Establishment of a bond of €40 million
Pursuant to Article L.228-40 of the French Commercial Code, the Board of Directors on February 8,
2013 authorized the issuance of bonds up to a total nominal amount of €80 million, of which €40
million was utilized in the 2013/2014 financial year. Each with a nominal unit value of €100 thousand,
these bonds were traded on the regulated market of Euronext Paris on May 6, 2013. This bond with a
lifetime of 5 years comes with a paying interest of 3.038%.
July 2013: Subscription of a new credit line
Ubisoft Entertainment SA signed one new bilateral credit line for a period of 4 years in the amount of
€15 million. This line follows the same covenants as the syndicated loan.
August 2013: Acquisition of assets in the company Digital Chocolate Inc.
On August 22, 2013, Ubisoft acquired assets in the company Digital Chocolate Inc., a leader in the
development and distribution of casual games for mobiles and social networking (acquisition price of
$2 million).
September 2013: Sale of €15.5 million in receivables under the factoring agreement
The factoring agreement relating to the Canadian Credit Multimedia Titles concluded between BNC
and Ubisoft Divertissements Inc. allowed for the assignment of receivables of €15.5 million in the first
half of the year.
April to September 2013: Disposal of Gameloft shares
Sale of the one million remaining Gameloft shares at an average price of €6. The capital gain on the
sale of Gameloft shares amounted to €4.4 million and was accounted for as financial income.