Ubisoft 2005 Annual Report Download - page 101

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3
99
UBISOFT • 2006 ANNUAL REPORT
FINANCIER
Corporate accounts of Ubisoft Entertainment SA as of March 31, 2006
Cash flow statement
3.4
03.31.06 03.31.05
K€ K€
Flows from operating activities
Net earnings -12,813 20,085
Depreciation of tangible and intangible fixed assets 133,004 116,209
Changes in provisions 2,266 -9,742
Grants - -33
Flows from the disposal of fixed assets -18,473 5,906
Total cash flow from operating activities 103,984 132,425
Inventory -22
Trade receivables 68,477 -65,803
Advances 6,481 3,089
Sundry assets -7,433 -19,467
Trade payables 290 13,152
Sundry liabilities -1,595 21,201
Total change in working capital requirement 66,220 -47,806
Flows from investments
Acquisition of intangible assets -173,194 -122,918
Acquisition of tangible assets -146 -103
Acquisition of equity securities -294 -23,695
Acquisition of other financial fixed assets -4,816 -15
Charges to be spread over several years -768 -
Disposal of fixed assets 24,939 2,453
Proceeds from long-term loans and other financial assets 4,129 236
Others restatement (1) -593 -
Total cash flow from investments -150,743 -144,044
Flows from financial transactions
Repayment of long- and medium-term loans -24,875 -
Increase in capital 431 144
Increase in issue premium 12,174 418
Increase in issue premium on shares with warrants 4,222 1,262
Increase in issue premium on group savings plan - 4,738
Increase in bond redemption premiums 24,228 -
Variation in current accounts -18,389 46,924
Total cash flow from financial transactions -2,209 53,486
Net change in cash flow 17,252 -5,938
Net cash position at the beginning of the fiscal year -7,109 -1,171
Net cash position at the close of the fiscal year 10,143 -7,109
(1) Including restatement of trademarks for €593 thousand.