Ubisoft 2009 Annual Report Download - page 43

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39
1.2 Comments on the Corporate Financial Statements of
Ubisoft Entertainment SA for the year ended March 31,
2010
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.
Sales
(in thousands of euros)
Revenue basically consists of royalties invoicing to subsidiaries.
€ thousand March 31, 2010 March 31, 2009
Production/sales 558,548 (1) 576,476
Operating profit (loss) -102,217 65,577
Net financial income 18,040 70,247
Pre-tax profit (loss) from continuing
operations -84,177 135,824
Non-recurring items -69,675 -88,739
Earnings -153,066 33,553
(1) including capitalized production: €301,225 thousand
Internal development costs
As of March 31, 2010, internal development costs came to €280 million, compared with €224 million as of
March 31, 2009.
Tax consolidation scope:
As at March 31, 2010, the tax group includes all French companies, with the exception of those created
during the financial year.
Information on trade payables due date:
The trade payables balance as of March 31, 2010, is €38,504 thousand including €1,663 thousand due.