Ubisoft 2002 Annual Report Download - page 43

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2003
43
FINANCIAL
REPORT
Accounts on March 31, 2003
2.1.3 Consolidated cash flow statement on March 31,2003
* including write-back of negative goodwill of Studios Ltd: K165
CASH FLOW STATEMENT ACCORDING TO
NOTICE NO.30 OF THE OEC CASH FLOW STATEMENT OF OTHER OPERATORS
IN THE SECTOR FOR COMPARISON PURPOSES
* including write-back of negative goodwill of Studios Ltd: K165
Cash flow from operating activities 03.31.03 03.31.02
KK
Net income 4,854 7,953
Depreciation of tangible
and intangible fixed assets 80,082 61,840
Depreciation of deferred charges 3,597 1,650
Net amortization of goodwill write-backs* 5,340 5,401
Changes in provisions 21,957 8,266
Grants (332) (49)
Cash flow from the disposal of fixed assets 150 325
Total cash flow from operating activities 115,648 85,386
Increase in operating fund requirements (19,715) (20,101)
Increase in non-operational requirements (4,129) 1,685
Total change in working capital requirement (23,844) (18,416)
Cash flow from investments
Acquisition of intangible assets (92,879) (105,522)
Acquisition of tangible assets (7,937) (7,457)
Acquisition of equity holding (3,088) (448)
Acquisition of other financial fixed assets (339) (11,611)
Charges to be spread over several years (222) (4,400)
Disposal of fixed assets 2,939 236
Proceeds from long-term loans
and other financial assets 11.261 621
Changes in scope of consolidation (1) (1.173) -
Total cash flow from investments (91,438) (128,581)
Cash flow from financial transactions
New long-and medium-term loans 604 166,550
Repayment of loans (57,851) (56,671)
Increase in capital 53 141
Increase in issue premium 405 2,087
Increase in conversion premium - 3,771
Increase in issue premium on shares with warrants 2 2
increase in issue premium on group savings plan 930 1,242
Grants received 120 182
Repayment of shareholders' current accounts (1,233) -
Other flows - (601)
Total cash flow from financial transactions (56,970) 116,703
Impact of conversion rate adjustments (3,311) 168
Net change in cash flow (59,915) 55,260
Net cash position at the beginning
of the financial year 37,623 (17,637)
Net cash position at the end of the financial year (22,292) 37,623
(1) including cash position of companies acquired and sold 256
Cash flow from operating activities 03.31.03
K
Net income 4,854
Depreciation and provisions 87,696
Depreciation of game software (internal and external) 72,016
Depreciation of other tangible
and intangible fixed assets 8,066
Depreciation of deferred charges 3,597
Net amortization of goodwill write backs * 5,340
Changes in provisions (991)
Grants (332)
Internal development
and license development expenses (86,770)
Marge brute d’autofinancement 5.780
Inventory 8,165
Trade receivables (51,572)
Advances and installments 6,667
Sundry assets (48,284)
Trade payables 21,187
Sundry liabilities 39,993
Total change in working capital requirement (23,844)
Total cash flow from operations (17,914)
Cash flow from investments
Acquisition of tangible and intangible assets (14,046)
Acquisition of equity holdings and other financial assets (3,427)
Charges to be spread over several years (222)
Disposal of fixed assets 2,939
Cash flow from the disposal of fixed assets 150
Disposal of financial assets 11,261
Provisions for expense on securities 22,948
Changes in scope of consolidation (1) (1,173)
Total cash flow from investments 18,430
Cash flow from financial transactions
Long-and medium-term loans (57,247)
Increase in capital 1,390
Grants received 120
Repayment of shareholders' current accounts (1,233)
Total cash flow from financial transactions (56,970)
Impact of conversion rate adjustments (3,311)
Net change in cash flow (59,915)
Net cash position at the beginning
of the financial year 37,623
Net cash position at the end of the financial year (22,292)
(1) including cash position of companies acquired and sold 256