Ubisoft 2009 Annual Report Download - page 155
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151
Note 20. Other purchases and external expenses
03.31.10 03.31.09
Production services subcontracted to subsidiaries 280,479 224,470
Production services subcontracted to external developers 20,746 -
Other purchases and external expenses 87,360 96,493
TOTAL 388,585 320,963
Other purchases and external expenses consist mainly of advertising expenses, royalties and property and
equipment lease payments.
Note 21. Depreciation, amortization and provisions
03.31.10 03.31.09
Amortization and depreciation of intangible assets 394,935 197,372
Released commercial software * 331,906 166,604
Released external developments * 62,948 29,222
Office software - 1,485
Other 81 61
Amortization and depreciation of property, plant and equipment 540 439
Fixtures and fittings 505 408
Computer hardware and furniture 35 30
Transport equipment - 1
TOTAL 395,475 197,811
* Net reversals (cf. note 19) on commercial software therefore amount to €220,963 thousand and net
reversals on external developments to €60,623 thousand.
Note 22. Net financial income
03.31.10 03.31.09
Financial income:
Share in profit of associates 161 1,552
Income from other securities and receivables on non-current assets 25 191
Other interest received 1,251 67,717
Reversal of provisions
(1)
9,284 10,515
Foreign-exchange gains 38,925 25,118
Net proceeds on sale of investment securities 194 2, 393
49,840 107,486
Financial expenses:
Amortization and provisions 1,558 3,914
Other interest paid 1,933 3,737
Foreign-exchange losses 28,309 29,588
31,800 37,239
Net financial income 18,040 70,247
(1) Details of reversals of provisions on equity investments are provided in note 3. Non-current financial assets.
The share in profit of associates relates to dividends received by Ubisoft Entertainment SA from its
Norwegian subsidiary.
Foreign-exchange risk
The company’s exposure to foreign-exchange risk stems from operating cash flows and its investments in
foreign subsidiaries.