Ubisoft 2006 Annual Report Download - page 107

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CORPORATE ACCOUNTS OF UBISOFT ENTERTAINMENT SA AS OF MARCH 31, 2007
95
3
Cash flow statement
3.4
03/31/2007 03/31/2006
€K €K
Flows from operating activities
Net earnings 16,047 - 12,813
Depreciation of tangible and intangible assets 200,748 133,004
Changes in provisions 22,624 2,266
Flows from the disposal of fixed assets 170 - 18,473
Total cash flow from operating activities 239,589 103,984
Trade receivables - 7,744 68,477
Advances - 5,559 6,481
Sundry assets - 504 - 7,433
Trade payables - 2,253 290
Sundry liabilities 2,823 - 1,595
Total change in working capital requirement - 13,237 66,220
Flows from investments
Acquisitions of intangible assets - 209,048 - 173,194
Acquisitions of tangible assets - 406 - 146
Acquisition of equity securities - 1,739 - 294
Acquisition of other financial fixed assets - 26,226 - 4,816
Charges to be spread over several years - - 768
Disposal of fixed assets - 24,939
Proceeds from long-term loans and other financial assets 26,125 4,129
Other restatements (1) - - 593
Total cash flow from investments - 211,294 - 150,743
Flows from financial transactions
Repayment of long- and medium-term loans - 147,162 - 24,875
Capital increase 1,012 431
Increase in issue premium 8,594 12,174
Increase in issue premium of share subscription warrants 23,568 4,222
Increase in issue premium on group savings plan 1,557 -
Increase in bond redemption premium 71,637 24,228
Variation in current accounts 36,652 - 18,389
Total cash flow from financial transactions - 4,142 - 2,209
Net change in cash flow 10,916 17,252
Net cash position at the beginning of the fiscal year 10,143 - 7,109
Net cash position at the end of the fiscal year 21,059 10,143
(1) Restatement of brands for €593 thousand.