Ubisoft 2009 Annual Report Download - page 14
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10
Cash flow statement for comparison with other industry players
in thousands of euros03.31.10 03.31.09
Cash flows from operating activities
Consolidated earnings-43,672 68,848
+/- Share in profit of associates -50 -15
+/- Gain (loss) on the disposal of discontinued operations -
+/- Gaming software amortization287,398 219,031
+/- Other amortization17,428 16,337
+/- Provisions4,335 2,034
+/- Cost of share-based payments12,099 16,855
+/- Gains/losses on disposals170 193
+/- Other income and expenses calculated-2,937 3 272
+/- Internal development and license development costs -331,474 -300,445
Cash flows from operations -56,703 26,110
Inventory12,057 -23,088
Trade receivables2,440 19,738
Other assets -23,338 35,313
Trade payables14,851 -33,399
Other liabilities -39,395 3,133
+/- Change in WCR linked to operating activities -33,385 1,697
TOTAL CASH FLOW GENERATED BY OPERATING ACTIVITIES -90,088 27,807
Cash flows from investment activities
- Payments for the acquisition of property, plant and equipment and
other intangible assets-19,635 -30,230
+ Proceeds from the disposal of intangible assets and property, plant
and equipment566 93
- Payments for the acquisition of financial assets -16,562 -36,042
+/- Other cash flows from investing activities-1 -
+ Repayment of loans and other financial assets 16,472 35,181
+/- Changes in consolidation scope
(1)
-8,157 -6,248
CASH USED FROM INVESTING ACTIVITIES-27,317 -37,246
Cash flows from financing activities
+ New finance leases contracted172 36
- Repayment of finance leases -81 -23
- Repayment of borrowings-649 -1,032
+ Funds received from shareholders in capital increases 5,033 12,799
+/- Sales/purchases of own shares-154 -349
CASH GENERATED (USED) BY FINANCING ACTIVITIES 4,321 11,431
Net change in cash and cash equivalents-113,084 1,992
Cash and cash equivalents at the beginning of the period 176,890 173,181
Impact of translation adjustments1,170 1,718
Cash and cash equivalents at the end of the period 64,976 176,890
(1)
Including cash in companies acquired and disposed of -399 -1,938
This cash flow statement differs from cash flow statement required by IFRS standards mainly due to the
reclassification of internal and external developments in cash flows from operations.
The Group made the following reclassifications in the cash flow statement compared with March 31, 2009:
- Cash flows from investment activities and operating activities have been restated to reflect the amount of
guarantees that have been agreed but not paid.