Ubisoft 2003 Annual Report Download - page 66

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FINANCIAL REPORT
2004
66
2.1.5.5 Explanatory notes on the income statement
Note 16 Sales
The group had K¤508,400 in sales during the 2003-04 fiscal year. At the current rate, sales increased 12% over the 2002-03
fiscal year; at a constant rate, growth in sales was 22.5%.
Breakdown of sales by activity:
Note 17 Other operating income
Other operating income breaks down as follows:
Note 18 Other operating expenses
Other operating expenses break down as follows:
3/31/04 3/31/03
K€%K€%
Development 437,262 86% 348,773 77%
Publishing 55,929 11% 81,531 18%
Distribution 15,253 3% 22,648 5%
TOTAL 508,444 100% 452,952 100%
Other external expenses consisted mainly of advertising
expenditures, royalties, and rental of fixed assets and
movables.
Abandoned projects relating to licenses are now posted to
operating income rather than extraordinary income.
* Includes .€18.8 million in additional write-offs on advances and installments
3/31/04 3/31/03 3/31/03
Pro forma Former presentation
Social security liabilities 18,165 9,286 9,286
Deferred tax liabilities 5,136 5,829 5,829
Other tax debts 21,020 31,613 31,613
Other debts 1,893 713 36,833
Deferred income 7,987 5,722 5,722
TOTAL 54,201 53,163 89,283
Note 15 Sundry creditors and accrued expenses
Sundry creditors and accrued expenses break down as follows:
The reduction in other debts is primarily the result of the reclassification of credits to be issued, which are now posted against
customer accounts.
3/31/04 3/31/03
Capitalized software
production costs 79,775 72,105
Other capitalized
production costs 2,037 874
Production subsidies 11,541 6,917
Write-back of provisions 2,939 2,296
Risk and charges 38 170
Inventory 652 1,068
Doubtful debts 1,619 926
Sundry assets 259 -
Intangible assets 343 131
Tangible assets 28 1
Transfer of expenditures 2,643 2,901
Other income 1,176 1,862
TOTAL 100,111 86,955
3/31/04 3/31/03 3/31/03
Pro forma Former
presentation
Other external
expenses 173,474 * 145,787 141,788
Other expenses 3,174 1,543 2 1,543
TOTAL 176,648 147,330 143,331