Ubisoft 2013 Annual Report Download - page 161
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Financial Statements
2013
156
Note 10. Investment securities and cash
Type
Gross value
Fair value
Provision
Net amount
UCITS
42,220
42,223
-
42,220
Own
shares*
1,572
3,
342
-
1,572
TOTAL
43,792
45,565
-
43,792
*396,399 of the 400,000 shares acquired on the market and allocated to cover the stock option plan authorized by the Board of
Directors on March 9, 2012.
The cash breakdown is as follows:
03/31/13
03/31/12
Investment securities
43,792
11,743
Cash
61,605
41,924
Bank overdrafts and short
-term loans
(82,972)
(71,743)
TOTAL
22,425
(18,076)
The increase is due primarily to:
- the issue of a bond for €20 million in December and the signature of a loan with Oséo for €3 million
in September; and
- the change in the cash pooling accounts, the Group having generated around €20 million in cash
(€85 million in March 2012 compared with €105 million in March 2013).
Note 11. Prepaid expenses and deferred charges
Opening
balance
Increase
Decrease
Closing
balance
Prepaid expenses
4,568
6,565
4,568
6,565
Syndicated loan issuance costs
355
1,911
632
1,634
Bond issuance costs
-
184
9
175
Conversion rate adjustment (assets)
148
24
148
24
TOTAL at 03/31/13
5,071
8,684
5,357
8,398
TOTAL at 03/31/12
3,872
4,816
3,617
5,071
Note 12. Related party transactions
The main relationships of the parent company with its subsidiaries relate to:
- production subsidiaries billing the parent company for development costs based on the progress of
their projects;
- the parent company invoicing distribution subsidiaries for a contribution to development costs;
- and the implementation of cash agreements allowing for centralized management at parent company
level of the bank accounts belonging to the majority of the Group companies.
The five corporate officers of the Company are described as related parties. The only transactions with
officers concern their pay, the granting of stock options and directors’ fees. Information relating to these
transactions with corporate officers is detailed in note 3.6.3.
The other significant related party transactions are as follows:
- Licenses invoiced to Gameloft SA for €1,191 thousand over the financial year. Trade receivables
amounted to €389 thousand at year-end.
- The amounts paid in respect of development agreements with AMA Studios SA, Longtail Studios Inc.
and Gameloft, totaling €4,909 thousand. Trade payables amounted to €2,994 thousand at year-end.
The amount of the assets in the balance sheet was €16,007 thousand at year-end.