Ubisoft 2002 Annual Report Download - page 64

Download and view the complete annual report

Please find page 64 of the 2002 Ubisoft annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 116

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116

2003
64
FINANCIAL
REPORT
3.Off-balance sheet commitments
03.31.03 Due date 03.31.02
Sureties and guarantees given: 49,722 18,897
Debtor Type of guarantee
Ubi Soft Divertissements Inc Loan repayment guarantee 2,494 Annual negotiation
Ubi Soft Entertainment GmbH Comfort letter 4,573 Related to main bank debt
Ubi Soft Entertainment GmbH Receivables payment guarantee 10,226 12.31.03
Ubi Soft Entertainment SA (France) Guarantee of SPW prices 1,836 09.28.05
Ubi Soft Divertissements Inc Comfort letter 1,995 Annual negotiation
Ubi Soft SA (Spain) Comfort letter 1,503 Related to main bank debt
Red Storm Entertainment Inc Lease payment guarantee 1,070 08.01.07
Ubi EMEA SARL Stand by letter 2,000 09.13.03
Ubi Soft Inc Commitment guarantee 2,754 End of commercial relationship
Ubi Soft Inc Stand by letter 1,799 04.11.03
Ubi EMEA SARL Stand by letter 1,000 05.03.03
Ubi EMEA SARL Stand by letter 7,000 06.26.03
Ubi EMEA SARL Stand by letter 1,372 06.27.03
Ubi Soft Inc Stand by letter 1,652 07.10.03
Ubi Soft Inc Stand by letter 1,285 07.11.03
Ubi Soft Inc Stand by letter 1,285 07.13.03
Ubi EMEA SARL Stand by letter 1,200 06.18.03
Collateral for loans None None
Sureties given None None
Foreign exchange hedging 73,262
Currency Nature of operation Amount (K€)
CAD Forward purchase 1,389
GBP Forward sale 37,589
USD Forward sale 32,059
AUD Forward sale 2,225
Total 73,262
Notes receivable discounted 3,736 1,568
VIII.Miscellaneous information
1.Breakdown of operating income from subsidiaries by geographical region
France Germany UK (*) Rest of United States ROW 03.31.03
Europe Canada TOTAL
Sales 68,351 45,342 57,387 82,736 183,352 15,784 452,952
Other operating income 34,748 139 167 7,453 36,436 8,012 86,955
Costs of sales (88,716) (6,025) (5,559) (13,471) (59,530) (2,336) (175,637)
(1) including intercompany funds flow 54,823 (12,032) (20,364) (19,742) 54 (2,739) 0
Wages and social security costs (40,542) (3,010) (3,159) (11,244) (34,175) (7,090) (99,221)
Other operating expenses (73,321) (8,114) (7,036) (11,442) (37,412) (6,007) (143,331)
Tax and duty (1,948) (3) (76) (273) (846) (415) (3,561)
Depreciation and provisions (72,664) (308) (90) (1,050) (5,743) (1,245) (81,100)
(2) Reinvoiced contributions 122,530 (15,871) (17,808) (27,384) (56,343) (5,124) 0
Operating income 3,261 118 3,462 5,583 25,793 (1,160) 37,057
(1) Invoicing of products purchased on behalf of subsidiaries and reinvoiced at their acquisition cost
(2) The parent company,as well as Ubi EMEA,invoices a contribution to subsidiaries in the form
of royalties which serve to support development costs (depreciation of games, internal and
external development, royalties) and head office costs.
(*) The data for Blue Byte LTD have been included in the rest of Europe.
2.Distribution of income by activity
In light of the Group's organizational structure and the commercial links between the various subsidiaries, it is not possible to
distinguish between activities.