Ubisoft 2007 Annual Report Download - page 29

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THE GROUP’S BUSINESS ACTIVITIES AND RESULTS FOR FISCAL YEAR 2007-2008
25
1
Introduction 26
1.1 Highlights of the 2007-2008 fiscal year 26
1.2 Analysis of activity and comments on results
for fiscal year 2007-2008 27
1.2.1 Key figures 27
1.2.2 Quarterly and annual consolidated revenue 29
1.2.3 Revenue by business line 29
1.2.4 Change in production volumes 30
1.2.5 Revenue by platform 30
1.2.6 Revenue by geographic destination 30
1.2.7 Changes in the income statement 31
1.2.8 Change in the working capital requirement and debt levels 31
1.2.9 Asset financing policy 31
1.3 Cash and capital 32
1.3.1 Changes in equity 32
1.3.2 Cash flows 32
1.3.3 Borrowing terms and financing structure 32
1.4 Human Resources 33
1.4.1 An enriching and motivating work environment 33
1.4.2 Valuing performance and innovation 34
1.4.3 Skills development: a strategic focus 34
1.4.4 Employment at Ubisoft in France 35
1.5 Social projects 36
1.6 Environmental data: towards ecological responsibility 37
1.6.1 Electricity consumption 37
1.6.2 Recycling 38
1.6.3 Destruction of unmarketable products 38
1.6.4 Business travel 39
1.7 Subsidiaries and equity investments 40
1.7.1 Organizational chart as of March 31, 2008 40
1.7.2 Equity investments made during the fiscal year 41
1.7.3 Business activities of the subsidiaries 41
1.8 General information 42
1.8.1 Capital expenditure policy 42
1.8.2 Research and development policy 42
1.8.3 Property, plant and equipment 42
1.9 Risk factors 43
1.9.1 Business-related risks 43
1.9.2 Legal Risks 45
1.9.3 Industrial or environment-related risks 45
1.9.4 Financial risks 46
1.9.5 Insurance and risk coverage 48
1.10 Commitments 49
1.11 Recent events, outlook and strategy 49
1.11.1 Recent developments 49
1.11.2 Market outlook 49
THE GROUP’S BUSINESS ACTIVITIES AND
RESULTS FOR FISCAL YEAR 2007-2008
1