Ubisoft 2016 Annual Report Download - page 166

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Financial statements
5Separate fi nancial statements of Ubisoft EntertainmentSA for the year ended March31, 2016
NOTE5 TRADE RECEIVABLES
(in €thousands) Gross Impairment
03/31/16 03/31/15
Net Net
Trade receivables 136,358 - 136,358 40,707
Related accounts 256,543 - 256,543 87,483
TOTAL 392,901 - 392,901 128,190
“Trade receivables” basically consists of intra-group receivables.
The increase in trade receivables was related to the launch of two major titles in the 4th quarter of this fi nancial year.
Customer payment terms
Pursuant to the provisions of Articles L. 441-6-1 p.1 and D. 441-4 of the French Commercial Code, the Company’s trade receivables at
the close of the last two fi nancial years by due date breaks down as follows:
Due date
Receivables by contractual due date
Total trade
receivables:
0to30days
Total trade
receivables:
31to60days
Total trade
receivables:
61to90days Total
At 03/31/16 136,912 4 - 136,916*
At 03/31/15 35,607 2,869 1,318 39,795*
* Before discount to the closing rate
NOTE6 OTHER RECEIVABLES
(in €thousands) Gross Impairment
03/31/16 03/31/15
Net Net
Suppliers– credit notes to receive 17,400 - 17,400 7,543
Government (VAT credit, tax) 40,646 - 60,646 7,108
Partner current account advances 71,449 - 71,449 81,676
Other miscellaneous debtors 16 - 16 13
TOTAL 129,511 - 129,511 96,340
The change in partner current account advances corresponds to the advances made to subsidiaries to fi nance their specifi c business needs.
The change in the “Government” line item mainly corresponds to prepayments of tax in the fi nancial year.
- Registration Document 2016
164