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2
83
UBISOFT • 2006 ANNUAL REPORT
FINANCIER
Ubisoft group’s consolidated accounts as of March 31, 2006
Appendix notes
2.5.6.1 Segment information
In light of the group’s organizational structure and the commercial links among the various subsidiaries, we proceed on the
basis that the group operates in a single market in several geographical regions.
1. Breakdown of result by geographic area
(1) Invoicing of products purchased on behalf of subsidiaries and reinvoiced at their acquisition cost.
(2) The parent company, like Ubisoft EMEA SAS, invoices a contribution to subsidiaries in the form of royalties that serve to support development costs (depreciation
of games, internal and external development, royalties) and head office costs.
2.5.6
France Germany UK Rest of United States Rest of 03.31.06
Europe & Canada world Total
Sales 58,401 33,968 93,800 92,739 244,990 23,172 547,070
Other operating income 44,331 1,726 131 6,961 65,526 14,290 132,965
Cost of sales -97,045 - 671 -610 -10,552 -76,701 -2,044 -187,623
Inter-company flows (1) 69,183 -12,368 -34,435 -27,926 10,473 -4,927 -
Inventory changes in finished
products and work-in-progress 146 -261 -73 -216 1,575 15 1,186
Wages and social security costs -51,004 -3,830 -3,861 -11,744 -57,693 -12,542 -140,674
Other operating expenses -58,674 -8,567 -16,662 -15,274 -80,201 -7,505 -186,883
Tax and duty -3,180 -32 -135 -204 -1,416 61 -4,906
Depreciation and provisions -152,310 -124 -318 -600 -6,396 -994 -160,742
Reinvoiced contributions (2) 172,717 -9,247 -35,987 -31,193 -87,063 -9,227 -
Current operating result -17,435 594 1,850 1,991 13,094 299 393
Other operating
expenses/income -1,657 -13 - -24 -90 - -1,784
Operating result -19,092 581 1,850 1,967 13,004 299 -1,391
Cash and cash-equivalent
income 2,000 2 25 25 117 14 2,183
Cost of gross financial debt -9,682 -251 -576 -56 -121 -7 -10,693
Net borrowing costs -7,682 -249 -551 -31 -4 7 -8,510
Financial expenses/income -376 3 -70 -106 -45 -6 -600
Inter-company flows 1,648 120 10 -193 -1,518 -67 -
Financial result -6,410 -126 -611 -330 -1.567 -66 -9,110
Share in earnings
of associates 19,109 - - - - - 19,109
Income tax expense 7,590 312 -408 -527 -3,486 -157 3,324
Result after income tax
of consolidated companies 1,197 767 831 1,110 7,951 76 11,932
Minority interests - - - - - - -
Group share 1,197 767 831 1,110 7,951 76 11,932