Ubisoft 2008 Annual Report Download - page 89

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UBISOFT ANNUAL REPORT 2009
ma n a G e m e n t r e p o r t 01
1.2 Comments on the Corporate Financial Statements of Ubisoft
Entertainment SA for the year ended March 31, 2009
Comparability of nancial statements
Balance sheet
Licensee commitments are now booked for the contractual amount committed, including the unpaid part.
As of March 31, 2008, these unpaid amounts of €80,316 thousand were presented as off-balance sheet commitments.
The impact on the nancial statements as of March 31, 2009 is the recognition of a €68,335 thousand asset as a counterpart entry
to an increase in trade payables.
Sales
Sales essentially consist of royalties invoiced to subsidiaries.
IN THOUSANDS OF EUROS 03.31.09 03.31.08
Production/sales 576,476 (1) 571,034
Operating profit (loss) 65,577 69,823
Financial income 70,247 8,050
Pre-tax profit (loss) from continuing operations 135,824 77,873
Non-recurring items -88,739 -70 0
Earnings 33,553 75,212
(1) Including capitalised production: €224,470 thousand;
Internal development costs
As of March 31, 2009, total development costs came to €224 million, compared to €204 million as of March 31, 2008.
Tax consolidation scope:
As of March 31, 2009, the following companies were included in the tax consolidation group:
• Ubisoft Entertainment SA (head of group),
• distribution companies,
• companies providing support services.