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Financial Statements
2012
133
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, 2012 and constitute the notes to the
balance sheet. The financial statements are prepared in accordance with French accounting
standards.
The financial year is a 12-month period from April 1, 2011 to March 31, 2012.
3.5.1 HIGHLIGHTS OF THE FINANCIAL YEAR
3.5.1.1 ACQUISITION/CREATION OF SUBSIDIARIES
Opening of subsidiaries:
December 2011: Creation of the studio Ubisoft Emirates FZ LLC in Abu Dhabi, in partnership with
Twofour54, the Media Zone Authority of Abu Dhabi.
March 2012: Creation of the subsidiary Ubisoft Music Publishing Inc. in Canada.
Acquisition of subsidiaries:
On July 12, 2011, Ubisoft acquired a 100% stake in the company Owlient SAS, located in France, a
developer of free-to-play games and an expert in the management of community web games.
3.5.1.2 CLOSURE OF SUBSIDIARIES
On November 16, 2011, the Ubisoft Norway AS subsidiary was liquidated.
3.5.1.3 DISPOSALS AND CONTRIBUTION OF SHARES
The legal reorganization of the French subsidiaries of the Group at Ubisoft Entertainment SA led to:
1) Sales of shares on May 3, 2011. Ubisoft Entertainment sold:
- All Ubisoft Marketing France SARL shares to Ubisoft France SAS for a value of €172,096;
- All Ubisoft Editorial SAS, Ubisoft Marketing International SAS, Ubisoft Production
Internationale SARL, Ubisoft Innovation SARL, Ludi Factory SAS and Ubisoft Support Studios
SAS shares to Ubisoft Production Internationale SAS for a value of €3,817,723;
- All Ubisoft Design SAS, Ubisoft Graphics SAS, Ubisoft Computing SAS, Ubisoft Paris Studios
SARL, Ubisoft Gameplay SARL, Ubisoft Art SARL and Ubisoft Créa SARL shares to Ubisoft
Paris SAS for a value of €3,957,056;
- All Ubisoft World SAS, Ubisoft Talent Management SARL, Ubisoft Market Research SARL,
Ubisoft Books and Records SAS, Ubisoft Services SARL and Ubisoft Organisation SAS
shares to Ubisoft Counsel & Acquisitions SAS for a value of €6,026,260;
- All Ubisoft Development SAS, Ubisoft Operational Marketing SAS, Ubisoft IT Project
Management SARL and Ubisoft Manufacturing & Administration SAS shares to Ubisoft EMEA
SAS for a value of €1,490,518.
2) Contributions of shares on May 12, 2011. Ubisoft Entertainment SA contributed:
- All the shares that it held in Tiwak SAS, Ubisoft Castelnau SARL, Ubisoft Production
Montpellier SARL, Ubisoft Studios Montpellier SARL and Ubisoft Design Montpellier SARL to
Ubisoft Montpellier SAS for a value of €2,839,148. In consideration for the contribution, 983
new Ubisoft Montpellier SAS shares were awarded;
- All the shares that it held in Ubisoft Production Annecy SARL to Ubisoft Annecy SAS for a
value of €243,822. In consideration for the contribution, 50 new Ubisoft Annecy SAS shares
were awarded.
As part of this legal reorganization, the Company generated a capital gain and intake of €16.4 million
recorded as a non-recurring item.
In March 2012, Ubisoft Entertainment SA sold its 100% stake in its subsidiary Ubisoft Vancouver Inc.
to its subsidiary Ubisoft Divertissements Inc.