Atari 2011 Annual Report Download - page 19
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ANNUAL FINANCIAL REPORT – REGISTRATION DOCUMENT
19
2.3. CONSOLIDATED BALANCE SHEETS
SIMPLIFIED CONSOLIDATED BALANCE SHEET AS OF MARCH 31, 2011 AND MARCH 31, 2010
Consolidated shareholders' equity was -€3.8 million as of March 31, 2011, a decrease of €5.7 million down from €1.9
million at March 31, 2010. The table below shows the changes in equity during the year:
Net cash
As of March 31, 2011, the Group had a net debt of €36.0 million, compared with net debt of €9.2 million as of the end of
the previous Fiscal Year. The cash and debt positions were as follows:
€ in million March 31,
2011 March 31,
2010
OCEANEs 2011 and 2020 (5.9) (5.9)
ORANEs (2.6) (3.7)
BueBay credit facility (42.4) (5.3)
Other (1.5) (4.6)
Total debt (52.4) (19.5)
Cash and cash equivalent 16.4 10.3
Net cash (net debt) (36.0) (9.2)
Net cash (net debt) is defined as cash and cash equivalents less current and long-term portions of debt.
The Group’s net debt position grew primarily due to borrowings of €37.1 million on the BlueBay credit facility used to fund
operations including continued investment in the Company’s development projects.
The following shows the maturity of debt and interest:
The €48.6 million in liabilities maturing prior to March 31, 2012 consist primarily of the following:
in €m
A
ta
r
i
March 31,
2011
A
ta
r
i
March 31,
2010
Goodwill 5.4 24.5
Intangible assets 12.7 31.3
Tangible assets 2.7 4.0
Other non current assets 2.1 3.2
Non current assets 22.9 63.0
Current Assets 16.0 18.4
Current assets classified as held for sale 42.3 -
Cash and cash equivalents 16.4 10.3
Current assets 74.7 28.7
Total Assets 97.6 91.7
Shareholders' equity attributable to the Group (3.9) 1.8
Minority interest 0.1 0.1
Total shareholders' equity (3.8) 1.9
Long Term Debt 3.4 10.9
Other non-current liabilities 4.8 13.4
Non current liabilities 8.2 24.3
Short term debt 49.0 8.6
Current liabilities 32.8 56.9
Liabilities classified as held for sale 11.4 -
Current liabilities 93.2 65.5
Total equity and liabilities 97.6 91.7
T
o
ta
l
e
q
u
i
ty
a
s
o
f
Ma
r
c
h
3
1
,
2
0
1
0
1.9
Net loss (6.2)
Cryptic Studios earn-out 3.5
Other (3.0)
Total equity as of March 31, 2011 (3.8)
March 31,
2011
€ in million Nominal Interests Nominal Interests Nominal Interests Nominal Interests Nominal Interests Nominal Interests
Bond debt 8.5 5.3 1.0 0.8 0.7 0.1 0.6 - 5.9 2.6
Financial debt 42.8 42.4 0.4 42.4 0.4
Other financial debt 1.1 0.9 0.2 1.1 -
Total financial liabilities 52.4 48.6 1.4 0.2 0.8 - 0.7 - 0.1 0.6 - 49.4 3.0
March 31, 2012 March 31, 2013 March 31, 2014 March 31, 2015
March 31, 2016 and
beyond Total