Ubisoft 2004 Annual Report Download - page 82

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80
UBISOFT > 2005 FINANCIAL REPORT
€K
Balance Allocation Capital increase Earnings, Balance Proposed Balance as of 3.31.05
as of earnings, in cash and by 2004/2005 as of allocation of FY after allocation of FY
of 3.31.04 2003/2004 bond conversion 3.31.05
20
04/2005 2004/2005
earnings earnings
Capital 5,450 - 144 - 5,594 - 5,594
Issue premium 268,377 - 6,418 - 274,795 - 274,795
Legal reserves 505 - - - 505 - 505
Regulated reserves 238 - - - 238 - 238
Other reserves 11,665 - - - 11,665 -5,508 6,157
Result account -26,898 1,305 - - -25,593 25,593 -
reserve brought forward
Income for fiscal year 1,305 -1,305 - 20,085 20,085 -20,085 -
Investment grants 33 - -33 - - - -
Total 260,675 - 6,529 20,085 287,289 - 287,289
€K 3.31.05 3.31.04
Operating activities
Net income 20,085 1,305
Depreciation of tangible and intangible fixed assets 116,209 111,909
Depreciation of deferred charges - 675
Changes in provisions -9,742 -22,094
Grants -33 -61
Flows from the disposal of fixedassets 5,906 457
Total cash flow from operating activities 132,425 92,191
Inventory 22 95
Trade receivables -65,803 35,966
Advances 3,089 19,474
Sundry assets -19,467 25,766
Trade payables 13,152 -7,192
Other debts121,201 -3,330
Total change in working capital requirement -47,806 70,779
Investing activities
Acquisition of intangible assets -122,918 -91,059
Acquisition of tangible assets -103 -276
Acquisition of subsidiary -23,695 -19,235
Acquisition of other financial fixed assets -15 -210
Charges to be spread over several years - -1,099
Disposal of fixed assets 2,453 3,894
Proceeds from long-term loans and other financial assets 236 6
Total cash flow from investments -144,044 -107,979
Financing activities
New long- and medium-term loans - 54,974
Repayment of loan debentures - -9,500
Repayement of long- and medium-term loans --
Increase in capital 144 13
Increase in issue premium 418 633
Increase in issue premium on shares with warrants 1,262 -
Increasein issue premium on group savings plan 4,738 -
Variation in current accounts 46,924 -3,587
Total cash flow from financing activities 53,486 42,533
Net change in cash flow -5,938 97,524
Net cash position at the beginning of the fiscal year -1,171 -98,69
Net cash position at the end of the fiscal year -7,109 -1,170
Reconciliation of movement in equity
2.2.3
Cash flow statement
2.2.4
1- Including change in equity swap contract of €10,578 thousand and change in VAT liabilities of €7,984 thousand.