Ubisoft 2009 Annual Report Download - page 140

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136
,
2.3.5 Notes to the corporate financial statements
The notes and tables that follow, presented in thousands of euros, are an integral part of the annual
financial statements for the financial year ended March 31, 2010 and constitute an appendix to the
balance sheet. The financial statements are prepared in accordance with French accounting
standards.
The financial year covered the 12-month period from April 1, 2009 to March 31, 2010.
2.3.5.1 Highlights of the financial year
2.3.5.1.1 Acquisition/creation of subsidiaries
• October 2009: Acquisition of the video games developer Nadéo SAS in France
This new studio represents a major step in Ubisoft’s development in the field of online games. This
studio is wholly owned by Ubisoft Entertainment SA; the interest is worth €9.7 million.
• Opening of subsidiaries:
- July 2009: creation of the studio Ubisoft Design Montpellier SARL (France),
- November 2009: creation of the subsidiary Ubisoft Talent Management SARL (France),
- December 2009: creation of the subsidiary Ubisoft IT Project Management SARL (France),
- January 2010: creation of the studio Ubisoft Innovation SARL (France),
- March 2010: creation of the studio Ubisoft Créa SARL (France).
2.3.5.1.2 Subscription to capital increases
Ubisoft Entertainment SA increased its interest in:
- Ubisoft EOOD (Bulgaria) by €320 thousand in June 2009,
- Ubisoft World SAS (France) by €7,298 thousand in July 2009,
- Ubisoft Entertainment India Private Ltd (India) by €1,200 thousand in September 2009 and €163
thousand in March 2010,
- Ubisoft Counsel & Acquisitions SARL (France) by €50,000 thousand in March 2010.
2.3.5.1.3 Capital reduction
Ubisoft Entertainment SA reduced the capital of Ubisoft World SA through reimbursement of the
capital contribution in the amount of €48,989 thousand.
2.3.5.2 Comparability of financial statements
- As at March 31, 2010, external developments are booked in subcontracting and capitalized via
a capitalized production costs account in the amount of €20,746 thousand.
- Since the fiscal year ended March 31, 2009, straight-line practiced on internal software is
calculated based on the original production cost. Previously, it was calculated on the basis of
the net book value after taking into account depreciation linear and additional previously
recorded. For the first time to the year 2010, reversals of provisions for depreciation are
therefore found on internal software having impairment beyond linear depreciation in 2009. It's
an element of comparability without affecting the result of the company.
- In the cash flow statement, the cash flows from investing activities and the changes in working
capital are restated to reflect the amount of guarantees that have been agreed but not paid.