Ubisoft 2008 Annual Report Download - page 79

Download and view the complete annual report

Please find page 79 of the 2008 Ubisoft annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 264

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160
  • 161
  • 162
  • 163
  • 164
  • 165
  • 166
  • 167
  • 168
  • 169
  • 170
  • 171
  • 172
  • 173
  • 174
  • 175
  • 176
  • 177
  • 178
  • 179
  • 180
  • 181
  • 182
  • 183
  • 184
  • 185
  • 186
  • 187
  • 188
  • 189
  • 190
  • 191
  • 192
  • 193
  • 194
  • 195
  • 196
  • 197
  • 198
  • 199
  • 200
  • 201
  • 202
  • 203
  • 204
  • 205
  • 206
  • 207
  • 208
  • 209
  • 210
  • 211
  • 212
  • 213
  • 214
  • 215
  • 216
  • 217
  • 218
  • 219
  • 220
  • 221
  • 222
  • 223
  • 224
  • 225
  • 226
  • 227
  • 228
  • 229
  • 230
  • 231
  • 232
  • 233
  • 234
  • 235
  • 236
  • 237
  • 238
  • 239
  • 240
  • 241
  • 242
  • 243
  • 244
  • 245
  • 246
  • 247
  • 248
  • 249
  • 250
  • 251
  • 252
  • 253
  • 254
  • 255
  • 256
  • 257
  • 258
  • 259
  • 260
  • 261
  • 262
  • 263
  • 264

77
UBISOFT ANNUAL REPORT 2009
ma n a G e m e n t r e p o r t 01
1.1.5.2 Equity investments made during the nancial year
Acquisitions and start-ups
• April 2008: creation of Ubisoft Entertainment India Private Ltd, the rst development studio in India, and acquisition of Gameloft
India's assets.
• April 2008: opening of a studio in Kiev, Ukraine.
• June 2008: acquisition of Hybride Technologies, wholly owned by Ubisoft Divertissements Inc.
• November 2008: creation of Ubisoft Entertainment Sweden AB and acquisition of Massive Entertainment AB's assets.
• January 2009: acquisition of the Brazilian Southlogic studio.
• February 2009: acquisition of the video game developer Action Pants Inc in Vancouver, Canada.
1.1.5.3 Business activities of the subsidiaries
Production subsidiaries:
These are responsible for the design and development of the software. They saw their business grow sharply due to the increase
in projects carried out internally and the rise in staff numbers.
Sales and marketing subsidiaries:
The sales and marketing subsidiaries are responsible for distributing Ubisoft products throughout the world. They enjoyed strong
growth in North America due to the earlier launch of the new consoles.
Relations between the parent company and subsidiaries:
The relationship between the parent company and the subsidiaries involves:
• production subsidiaries billing the parent company for development costs based on the progress of their projects. These costs
are capitalised at the parent company and amortised from the commercial launch date;
• the parent company invoices distribution subsidiaries for a contribution to development costs.
The parent company also centralises a certain number of costs that it then allocates to its subsidiaries, in particular:
• IT projects,
• the purchase of computer equipment,
• general and administrative expenses,
• nancial costs.
Main subsidiaries:
SUBSIDIARY
(IN THOU-
SANDS
OF EUROS)
03.31.09 03.31.08 31.03.07
IFRS financial
statements
Sales Operating
profit (loss)
Earnings Sales Operating
profit (loss)
Earnings Sales Operating
profit (loss)
Earnings
Ubisoft Inc.
(United States)
396,794 15,873 11,901 372,156 14,816 10,207 287,402 8,631 6,541
Ubisoft Ltd.
(United Kingdom)
175,528 4,388 3,406 159,078 3,976 2,840 110,571 2,090 1,140
Ubisoft GmbH
(Germany)
107,753 3,394 2,326 71,313 1,783 1,084 56,847 1,074 907
Ubisoft France
SAS
123,454 3,087 2,650 90,824 2,278 2,207 64,129 1,212 1,399