Ubisoft 2007 Annual Report Download - page 32

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UBISOFT • FINANCIAL REPORT 2008
03.31.08 03.31.07
In thousands of euros
Cash flows from operating activities
Consolidated earnings 109,844 40,558
+/- Share of profit of associates (28) (3,149)
+/- Gains / losses on the disposal of discontinued operations (14,827) -
+/- Amortization of game software 239,284 214,499
+/- Other amortization 15,213 15,619
+/- Provisions 35 884
+/- Cost of share-based payments 8,526 3,344
+/- Gains / losses on disposals 2,096 243
+/- Other income and expenses (600) (221)
+/- Costs of internal development and license development (300,849) (237,332)
Cash flows from operating activities 58,694 34,445
Inventory (17,569) (1,914)
Trade receivables (7,096) (842)
Other assets (27,936) (34,830)
Trade payables 60,714 22,862
Other liabilities 49,981 33,429
+/-Change in working capital from operating activities 58,095 18,705
Total cash generated by operating activities 116,788 53,150
- Payments for the acquisition of property, plant and equipment and other intangible assets (48,344) (43,394)
+ Proceeds on the disposal of intangible assets and property, plant and equipment 475 95
+/- Proceeds / payments for the acquisition / disposal of financial assets (23,731) (15,778)
+/- Other cash flows generated (used) by investing activities (66) (153)
+ Repayment of loans and other financial assets 23,735 16,078
+ Proceeds from the disposal of discontinued operations 25,110 -
+/- Partial disposal of associates (1) (18,342) 170
Cash used by investing activities (41,162) (42,982)
Cash flows from financing activities
+ New finance leases -60
+ New medium and long-term borrowings 268 30,740
- Repayment of finance leases (55) (230)
- Repayment of borrowings - (151,993)
- Accrued interest - (807)
+ Proceeds from shareholders in capital increases 15,825 106,551
+/- Sales of stock (392) 625
+/- Other flows 3 (42)
Cash generated (used) by financing activities 15,649 (15,036)
Net change in cash and cash equivalents 91,275 (4,868)
Cash and cash equivalents at the beginning of the fiscal year 78,653 80,894
Impact of translation adjustments 3,253 2,627
Cash and cash equivalents at the end of the fiscal year 173,181 78,653
(1) Including cash of companies acquired and disposed of (897) (17)
Cash flow statement for comparison with other industry players