Ubisoft® REPORTS FULL-YEAR
2011-12 results
Full-year sales: €1,061 million
Ongoing improvement in profitability:
Current operating income1: €56.0 million
Net income excluding non-recurring items1: €37.4 million
Net cash position : €84.6 million
Initial targets for fiscal 2012-13
Paris, May 15, 2012 - Today, Ubisoft released its sales and earnings figures for the fiscal year ended March 31, 2012.
Key financial data
In € millions | 2011-12 | % | 2010-11 | % |
Sales | 1,061.3 | 1,038.8 | ||
Gross profit | 718.1 | 67.7% | 673.6 | 64.8% |
R&D expenses | (348.4) | -32.8% | (363.5) | -35.0% |
Selling expenses | (238.4) | -22.5% | (212.9) | -20.5% |
General and administrative expenses | (75.3) | -7.1% | (67.9) | -6.5% |
Total SG&A expenses | (313.7) | -29.6% | (280.7) | -27.0% |
Current operating income1 | 56.0 | 5.3% | 29.4 | 2.8% |
Non-recurring reorganization charges | - | (95.9) | ||
Operating income/(loss) | 45.6 | 4.3% | (80.4) | -7.7% |
Profit/(loss) for the period | 37.3 | 3.5% | (52.1) | -5.0% |
Diluted EPS (in €) | 0.39 | (0.54) | ||
Diluted EPS before non-recurring items1 (€) | 0.39 | 0.22 | ||
Cash flows from operating activities | 8.2 | 54.2 | ||
R&D investment expenditure* | 427.7 | 400.4 | ||
Net cash position | 84.6 | 99.2 |
* Including royalties but excluding future commitments.
Yves Guillemot, Chief Executive Officer, stated "Ubisoft achieved a 90% surge in current operating income in fiscal 2011-12, in the upper range of the targets announced a year ago. This achievement was notably spurred by strong growth in online/digital revenue. We ended the year in a solid financial position - all the while having continued to invest in the future - primarily thanks to better-than-expected cash flows. Lastly, thanks to our focus on ramping up our teams' online expertise, combined with the know-how brought in by our recent acquisitions and with the recruitment of specialized talent, we are now in a position to fully seize the numerous current and future opportunities of the video game industry."
Sales
Full-year sales for 2011-12 totaled €1,061 million, up 2.1% (or +3.9% at constant exchange rates) compared with the €1,039 million recorded for 2010-11.
Sales for the fourth quarter of 2011-12 came to €161 million versus €178 million in the corresponding prior-year period, representing a decrease of 9.6% (or -11.2% at constant exchange rates).
Fourth-quarter sales were in line with the guidance of between €150 million and €180 million issued when Ubisoft released its sales figures for the third quarter of 2011-12.
Ubisoft's performance in fiscal 2011-12 reflects the following:
€578 million in revenue generated from games for core gamers, fueled by an excellent showing from Assassin's Creed® Revelations and from the free-to-play game The Settlers® Online, as well as the critical successes of Rayman® Origins and Driver® San-Francisco.
€483 million in revenue from casual games, driven by the exceptional ongoing success of Just Dance®, the excellent momentum of the free-to-play game Howrse, and the successful launch of Rocksmith(TM).
A 110.8% leap in online/digital sales to €80 million (included in the core and casual games figures above).
Main income statement items
Gross profit totaled €718.1 million, representing a significantly higher percentage of sales in 2011-12, amounting to 67.7% against 64.8% in 2010-11. Following the increase already observed in 2010-11, this further rise primarily reflects a sharp improvement in back catalog gross profit as well as the strong growth in online sales, which have very high margins.
Current operating income before stock-based compensation amounted to €56.0 million, representing a sharp increase on the €29.4 million reported in 2010-11. The 2011-12 figure falls in the upper range of the guidance announced a year ago of between €40 million and €60 million, and is in line with the Group's recent upward revised target of between €45 million and €65 million. It reflects the combination of the following factors:
A €44.5 million increase in gross profit.
A €15.1 million reduction in R&D expenses, which came to €348.4 million, representing 32.8% of sales, versus €363.5 million (35.0% of sales) in 2010-11. The decrease was due to fewer High Definition games released during the year, partly offset by an increase in both royalties and certain non-capitalized online expenses.
A €33.0 million increase in total SG&A expenses to €313.7 million (29.6% of sales) from €280.7 million (27.0% of sales) in 2010-11:
Variable marketing expenses represented 16.7% of sales (€177.1 million) compared with 15.4% (€160.4 million) in 2010-11, an increase mainly attributable to growth in both the dance games and online segments.
Structure costs represented 12.9% of sales (€136.6 million) compared with 11.5% (€120.3 million) in 2010-11. This rise was primarily due to higher costs related to the online activity.
Ubisoft reported operating income of €45.6 million for full-year 2011-12 (including €10.4 million in stock-based compensation), compared with an €80.4 million operating loss in 2010-11 which included €95.9 million in non-recurring charges and €12.6 million in stock-based compensation.
Net financial income came to €2.5 million (compared with net financial expense of €3.7 million in 2010-11), primarily breaking down as follows:
€2.5 million in financial charges against a €5.0 million charge in 2010-11, which included a €3.6 million charge related to sales of tax carry-back receivables.
€3.4 million in foreign exchange losses, versus a €4.3 million loss in 2010-11.
A €8.5 million positive impact mainly from the sale of 3.2 million Gameloft shares (€5.7 million positive impact in 2010-11). At March 31, 2012, 3.2 million Gameloft shares were still recorded in the balance sheet.
Ubisoft ended fiscal 2011-12 with net income of €37.3 million, representing diluted earnings per share of €0.39, versus a net loss of €52.1 million and a diluted loss per share of €0.54 one year earlier.
Excluding non-recurring items and before stock-based compensation, net income would have amounted to €37.4 million, representing diluted earnings per share of €0.39, versus net income of €21.4 million and diluted earnings per share of €0.22 for 2010-11.
Main cash flow statement and balance sheet items (unaudited)
Cash flows from operating activities came to €8.2 million versus €54.2 million in 2010-11. This reflects a negative €27.0 million in cash flow from operations (versus a positive €28.3 million in 2010-11) and a €35.2 million reduction in working capital requirement (against a €25.9 million reduction in 2010-11). Excluding one-time events and on a comparable basis, the difference between cash flows from operating activities in 2011-12 and 2010-11 showed an improvement of €15.9 million.
At March 31, 2012, Ubisoft had a net cash position of €84.6 million versus €99.2 million at March 31, 2011. This year-on-year change was primarily attributable to:
The above-mentioned €8.2 million net cash flow from operating activities.
€25.5 million in purchases of tangible and intangible assets.
€1.3 million in buybacks of Ubisoft shares.
€13.7 million from the sale of Gameloft shares.
€17.5 million in acquisitions.
A €7.8 million positive effect from exchange rate fluctuations.
Outlook
Full-year 2012-13
Yves Guillemot stated, "For 2012-13 we expect to see an increase of between 25% and 61% in current operating income1 and positive cash flows from operating activities. Our efforts to constantly enhance the quality of our games, combined with the investments we have made in the fast growing Free-to-Play segment should result in a strong topline and profitability growth for our core gamers titles and for our online segment".
He went on to say "From a longer-term perspective, Ubisoft is positioning itself to capitalize on:
the forthcoming arrival of the next generation of consoles which will be increasingly connected and will strongly boost the market thanks to a new qualitative leap and the integration of social games benefits and the item based model,
the ongoing strong growth in the Free-to-Play market for PCs, smartphones and tablets.
Yves Guillemot concluded "These major opportunities will enable us to extend our global reach, increase our average revenue per user (ARPU) and therefore raise the profitability potential of each of our brands".
The Company's initial targets for full-year 2012-13 are sales of between €1,160 million and €1,200 million, current operating income1 of between €70 million and €90 million and positive cash flows from operating activities.
Sales for the first quarter of 2012-13
The first quarter of 2012-13 will see the following main launches:
Tom Clancy's Ghost Recon Future Soldier(TM) for Xbox 360®, PLAYSTATION® 3 and PC,
more than 15 online and digital titles, including Trials Evolution on XBLA and Silent Hunter® Online as a web-based Free to Play.
The Group expects first-quarter 2012-13 sales to amount to around €115 million, up by approximately 11% on the first quarter of 2011-12.
Significant events
Market share: In the first three months of calendar 2012, Ubisoft was the number 3 independent editor in the United States with 7.0% market share (compared with number 3 and 8.2% one year earlier) and number 3 in Europe with 8.2% market share (compared with number 3 and 8.3%).
In calendar 2011, Ubisoft was the number 3 independent publisher in the United States with 8.4% market share (compared with number 3 and 7.3% one year earlier) and was also number 3 in Europe with 8.7% market share (compared with number 3 and 9.0%).
Equity Line: Set up of an equity line to strengthen Ubisoft external growth capacity. The Company will be able to carry out successive capital increases representing a maximum aggregate of approximately 9.9% of the share capital.
Grant of free share subscription warrants (BSA) : Shareholders have been granted one BSA per one registered share at the close of trading on April, 5 2012. 11 BSA will be exercisable for 1 new share, at an exercise price of €7.
Contact
Investor Relations Jean-Benoît Roquette Head of Investor Relations + 33 1 48 18 52 39 Jean-benoit.roquette@ubisoft.com: mailto:Jean-benoit.roquette@ubisoft.com |
Disclaimer
This statement may contain estimated financial data, information on future projects and transactions and future business results/performance. Such forward-looking data are provided for estimation purposes only. They are subject to market risks and uncertainties and may vary significantly compared with the actual results that will be published. The estimated financial data have been presented to the Board of Directors and have not been audited by the Statutory Auditors. (Additional information is specified in the most recent Ubisoft Registration Document filed on June 28, 2011 with the French Financial Markets Authority (l'Autorité des marchés financiers)).
About Ubisoft:
Ubisoft is a leading producer, publisher and distributor of interactive entertainment products worldwide and has grown considerably through a strong and diversified line-up of products and partnerships. Ubisoft has offices in 26 countries and has sales in more than 55 countries around the globe. It is committed to delivering high-quality, cutting-edge video game titles to consumers. For the 2011-12 fiscal year Ubisoft generated sales of €1,061 million. To learn more, please visit: www.ubisoftgroup.com:
http://www.ubisoftgroup.com/.
© 2012 Ubisoft Entertainment. All rights Reserved. Fantazy Petz, From Dust, Just Dance, Rayman, Tom Clancy, Ghost Recon, Ghost Recon Future Soldier, I Am ALive, Might & Magic, Rabbids Go Home, Raving Rabbids, Silent Hunter, Ubisoft and the Ubisoft logo are trademarks of Ubisoft Entertainment in the US and/or other countries. Motoheroz is a trademark of Redlynx in the US and/or other countries. Redlynx is a Ubisoft Entertainment company. © 2012 Ubisoft Entertainment. All Rights Reserved. Based on Prince of Persia® created by Jordan Mechner. Prince of Persia is a trademark of Waterwheel Licensing LLC in the U.S. and/or other countries used under license by Ubisoft Entertainment. © 2011 Ubisoft Entertainment. All Rights Reserved. The Black Eyed Peas is a trademark of BEP MUSIC, LLC in the US and/or other countries. The Black Eyed Peas® and all other logos and designs associated therewith are trademarks owned by The Black Eyed Peas. © 2011 Universal Network Television LLC. House M.D. is a trademark and copyright of Universal Network Television LLC. Licensed by Universal Studios Licensing LLC. All Rights Reserved.
APPENDICES
Breakdown of sales by geographic region | ||||
% Sales | % Sales | % Sales | % Sales | |
Q4 2011/12 | Q4 2010/11 | 12 Months 2011/12 | 12 months 2010/11 | |
Europe | 51% | 47% | 40% | 39% |
North America | 40% | 47% | 53% | 55% |
Rest of world | 9% | 6% | 7% | 6% |
TOTAL | 100% | 100% | 100% | 100% |
Breakdown of sales by platform | ||||
Q4 2011/12 | Q4 2010/11 | 12 Months 2011/12 | 12 months 2010/11 | |
Nintendo DS(TM) | 3% | 5% | 2% | 5% |
Nintendo 3DS(TM) | 5% | 20% | 2% | 3% |
PC | 9% | 17% | 7% | 5% |
PLAYSTATION®3 | 18% | 7% | 22% | 19% |
PSP(TM) | 1% | 2% | 1% | 2% |
Wii(TM) | 24% | 37% | 33% | 38% |
XBOX 360(TM) | 22% | 9% | 29% | 27% |
PS VITA | 8% | - | 1% | - |
Others | 10% | 3% | 3% | 1% |
TOTAL | 100% | 100% | 100% | 100% |
Breakdown of sales by business line | ||||
Q4 2011/12 | Q4 2010/11 | 12 Months 2011/12 | 12 months 2010/11 | |
Development | 93% | 86% | 96% | 96% |
Publishing | 6% | 10% | 2% | 3% |
Distribution | 1% | 4% | 2% | 1% |
TOTAL | 100% | 100% | 100% | 100% |
Title release schedule 1st Quarter (April - June 2012) | |
PackageD Goods | |
FANTASY PETZ® | Nintendo 3DS(TM) |
FUNKY BARN | Nintendo 3DS(TM) |
JUST DANCE® GREATEST HITS | Kinect(TM) for Xbox 360® |
MAD RIDERS(TM) | PC |
MONSTER TRUCK NEW (EMEA) | Nintendo 3DS(TM) |
RAYMAN® ORIGINS | Nintendo 3DS(TM) |
TERA(TM) (EMEA) | PC |
TOM CLANCY'S GHOST RECON FUTURE SOLDIER(TM) | PC, PlayStation®3, Xbox 360(TM) |
Online Digital | |
BABEL RISING 3D | iPad, iPhone |
BABEL RISING | Android, XBLA, PSN, Windows Phone |
FROM DUST® | GOOGLE CHROME |
HORSE HAVEN(TM) | |
HOUSE, M.D.(TM) CRITICAL CASES | |
I AM ALIVE(TM) | PSN |
MAD RIDERS(TM) | XBLA, PSN |
MIGHT & MAGIC® DUEL OF CHAMPIONS | Web-based, iPad (EMEA) |
MONSTER BURNER | iPhone |
MOTOHEROZ® | iPad, iPhone |
PRINCE OF PERSIA® CLASSIC HD | Android |
RABBIDS GO HOME® | Android, iPad, iPhone |
RAVING RABBIDS® | |
SILENT HUNTER® ONLINE | Web-based |
THE BLACK EYED PEAS® EXPERIENCE | iPad, iPhone |
TOM CLANCY'S GHOST RECON® COMMANDER | |
TRIALS EVOLUTION | XBLA |
The Statutory Auditors have completed their audit of the consolidated financial statements. They will issue their audit report after verifying the Group's annual financial report.
Consolidated income statement
In thousand of euros | 03/31/12 | 03/31/11 |
Sales | 1 061 296 | 1 038 826 |
Cost of sales | -343 162 | -365 208 |
Gross Margin | 718 134 | 673 618 |
Research and Development costs | -348 407 | -363 505 |
Marketing costs | -238 392 | -212 868 |
General and Administrative costs | -75 302 | -67 880 |
Current operating income before SO | 56 033 | 29 365 |
Stock-based compensation | -10 410 | -11 121 |
Current operating income | 45 623 | 18 244 |
Fair Value Variation | 0 | -1 354 |
Other operating income and expenses | 0 | -97 376 |
Operating income | 45 623 | -80 486 |
Net borrowing costs | -2 527 | -5 087 |
Net foreign exchange losses | -3 404 | -4 310 |
Other financial income and expenses | 8 397 | 5 718 |
Net financial income | 2 466 | -3 679 |
Share of profit of associates | 10 | 0 |
Income tax | -10 778 | 32 045 |
Profit for the period | 37 321 | -52 120 |
Earnings per share | ||
Basic earnings per share (in €) | 0,40 | -0,55 |
Diluted earnings per share (in €) | 0,39 | -0,54 |
Weighted average number of shares in issue | 94 334 | 94 454 |
Diluted weighted average number of shares in issue | 95 632 | 96 961 |
Consolidated balance sheet
ASSETS | Net | Net |
In thousands of euros | 3/31/12 | 3/31/11 |
Goodwill | 147 773 | 108 125 |
Other intangible assets | 520 452 | 451 701 |
Property, plant and equipment | 39 177 | 34 824 |
Investments in associates | 404 | 393 |
Other financial assets | 3 342 | 3 335 |
Deferred tax assets | 92 325 | 82 525 |
Non current assets | 803 473 | 680 903 |
Inventory | 20 013 | 35 217 |
Trade receivables | -13 143 | 49 263 |
Other receivables | 83 592 | 59 478 |
Other current financial assets | 15 287 | 29 112 |
Current tax assets | 13 691 | 10 574 |
Cash and cash equivalents | 175 703 | 193 354 |
Current assets | 295 144 | 376 998 |
Total assets | 1 098 617 | 1 057 901 |
LIABILITIES AND EQUITY | 3/31/12 | 3/31/11 |
In thousand of euros | ||
Capital | 7 369 | 7 341 |
Premiums | 265 358 | 527 469 |
Consolidated reserves | 452 659 | 231 305 |
Consolidated earnings | 37 321 | -52 120 |
Equity (Group share) | 762 707 | 713 995 |
Provisions | 3 918 | 2 295 |
Employee benefit | 1 568 | 1 196 |
Long-term borrowings | 1 479 | 1 894 |
Deferred tax liabilities | 37 396 | 30 990 |
Non-current liabilities | 44 361 | 36 375 |
Short-term borrowings | 91 073 | 92 732 |
Trade payables | 80 800 | 110 947 |
Other liabilities | 116 531 | 96 847 |
Current tax liabilities | 3 145 | 7 005 |
Current liabilities | 291 549 | 307 531 |
Total liabilities | 335 910 | 343 906 |
Total liabilities and equity | 1 098 617 | 1 057 901 |
Consolidated cash flow statement for comparison with other industry players (Unaudited and not included in the consolidated financial statements)
In thousand of euros | 31.03.12 | 31.03.11 Restated* | 31.03.11 As reported |
Consolidated earnings | 37 321 | -52 120 | -52 120 |
+/- Share of profit of associates | -10 | 0 | 0 |
+/- Amortization of game software | 270 530 | 382 906 | 382 906 |
+/- Other amortization | 19 596 | 22 377 | 22 377 |
+/- Provisions | -7 296 | 6 684 | 6 684 |
+/- Cost of share-based payments | 10 410 | 12 556 | 12 556 |
+/- Gains / losses on disposals | -8 412 | -5 559 | 356 |
+/- Other income and expenses calculated | 731 | 271 | 271 |
+/- Costs of internal development and license development | -349 859 | -338 820 | -338 820 |
CASH FLOW FROM OPERATIONS | -26 989 | 28 295 | 34 210 |
Inventory | 25 392 | 4 862 | 4 862 |
Trade receivables | 64 914 | 19 389 | 19 389 |
Other assets* | -34 699 | -932 | 3 635 |
Trade payables | -16 663 | -4 559 | -4 559 |
Other liabilities | -3 797 | 7 110 | 7 110 |
+/-Change in working capital from operating activities | 35 147 | 25 870 | 30 437 |
TOTAL CASH FLOW GENERATED BY OPERATING ACTIVITIES | 8 158 | 54 165 | 64 647 |
- Payments for the acquisition of property, plant and equipment and other intangible assets | -26 204 | -22 246 | -22 246 |
+ Proceeds from the disposal of intangible assets and property, plant and equipment | 748 | 231 | 231 |
+ Proceeds from sales of Gameloft shares* | 13 701 | 10 482 | 0 |
- Payments for the acquisition of financial assets | -6.298 | -16 095 | -16 095 |
+ Repayment of loans and other financial assets | 7.584 | 17 003 | 17 003 |
+/- Changes in scope (1) | -17 970 | -5 465 | -5 465 |
CASH USED BY INVESTING ACTIVITIES | -28 440 | -16 090 | -26 572 |
Cash flows from financing activities | |||
+ New finance leases | 0 | 36 | 36 |
+ New borrowings | 47 | 86 | 86 |
- Repayment of finance leases | -201 | -192 | -192 |
- Repayment of borrowings | -21 791 | -750 | -750 |
+ Proceeds from shareholders in capital increases | 446 | 1 771 | 1 771 |
+/- Sales / purchases of own shares | -1 717 | -422 | -422 |
+/- other flows (carry back sold) | 0 | 21 886 | 21 886 |
CASH GENERATED (USED) BY FINANCING ACTIVITIES | -23 216 | 22 415 | 22415 |
Net change in cash and cash equivalents | -43 498 | 60 490 | 60 490 |
Cash and cash equivalents at the beginning of the fiscal year | -122 034 | -64 976 | -64 976 |
Impact of translation adjustments | 7 789 | -3 433 | -3 433 |
Cash and cash equivalents at the end of the fiscal year | 86 326 | 122 034 | 122 034 |
(1) Including cash in companies acquired and disposed of | -7 211 | 141 | 141 |
* Proceeds from sales of Gameloft shares are now allocated in Investing Activities
Consolidated cash flow statement
In thousand of euros | 31.03.12 | 31.03.11 Restated* | 31.03.11 As reported |
Cash flows from operating activities | |||
Consolidated earnings | 37 321 | -52 120 | -52 120 |
+/- Share of profit of associates | -10 | 0 | 0 |
+/- Depreciation and amortization | 290 126 | 405 283 | 405 283 |
+/- Provisions | -7 296 | 6 684 | 6 684 |
+/- Cost of share-based payments | 10 410 | 12 556 | 12 556 |
+/- Gains / losses on disposals | -8 412 | -5 559 | 356 |
+/- Other income and expenses calculated | 731 | 271 | 271 |
+ Income tax paid | 10 778 | -32 042 | -32 042 |
Inventory | 25 392 | 4 862 | 4 862 |
Trade receivables | 64 914 | 19 389 | 19 389 |
Other assets* | -33 303 | 42 254 | 46 821 |
Trade payables | -16 663 | -4 559 | -4 559 |
Other liabilities | -8 304 | 9 023 | 9 023 |
+/-Change in working capital from operating activities | 32 036 | 70 969 | 75 536 |
TOTAL CASH FLOW GENERATED BY OPERATING ACTIVITIES | 365 684 | 406 042 | 416 524 |
- Income tax paid | -7 667 | -13 057 | -13 057 |
NET CASH GENERATED BY OPERATING ACTIVITIES | 358 017 | 392 985 | 403 467 |
Cash used by investing activities | |||
- Payments of internal development and license development | -349 859 | -338 820 | -338 820 |
- Payments for the acquisition of intangible assets and property, plant and equipment | -26 204 | -22 246 | -22 246 |
+ Proceeds from the disposal of intangible assets and property, plant and equipment | 748 | 231 | 231 |
+ Proceeds from sales of Gameloft shares* | 13 701 | 10 482 | 0 |
+/- Other cash flows from investing activities | -6 298 | -16 095 | -16 095 |
+ Repayment of loans and other financial assets | 7 584 | 17 003 | 17 003 |
+/- Changes in scope (1) | -17 971 | -5 465 | -5 465 |
CASH USED BY INVESTING ACTIVITIES | -378 299 | -354 910 | -365 392 |
Cash flows from financing activities | |||
+ New long term loans | 0 | 36 | 36 |
+ New finance leases | 47 | 86 | 86 |
- Repayment of finance leases | -201 | -192 | -192 |
- Repayment of borrowings | -21 791 | -750 | -750 |
+ Proceeds from shareholders in capital increases | 446 | 1 771 | 1 771 |
+/- Sales / purchases of own shares | -1 717 | -422 | -422 |
+/- Other flows (carry back sold) | 0 | 21 886 | 21 886 |
CASH GENERATED (USED) BY FINANCING ACTIVITIES | -23 216 | 22 415 | 22 415 |
Net change in cash and cash equivalents | -43 498 | 60 490 | 60 490 |
Cash and cash equivalents at the beginning of the fiscal year | -122 034 | -64 976 | -64 976 |
Impact of translation adjustments | 7 789 | -3 433 | -3 433 |
Cash and cash equivalents at the end of the fiscal year | 86 325 | 122 033 | 122 033 |
(1) Including cash in companies acquired and disposed of | -7 211 | 141 | 141 |
* Proceeds from sales of Gameloft shares are now allocated in Investing Activities
Reconciliation of Net income before non recurring elements and stock based compensation
In million of euros, except for per share data | 2011-12 | 2010-11 | ||||
As reported | Adjustment | Before non recurring elements and stock based compensation | As reported | Adjustment | Before non recurring elements and stock based compensation | |
Sales | 1 061.3 | 1 061.3 | 1 038.8 | 1 038.8 | ||
Total Operating expenses | (1 015.7) | 10.4 | (1 005.3) | (1 119.3) | 109.9 | (1 009.4) |
Stock-based compensation | (10.4) | 10.4 | 0.0 | (12.6) | 12.6 | 0.0 |
Fair Value Variation | 0.0 | 0.0 | 0.0 | (1.4) | 1.4 | 0.0 |
Other operating income and expenses | 0.0 | 0.0 | 0.0 | (95.9) | 95.9 | 0.0 |
Operating Income | 45.6 | 10.4 | 56.0 | (80.5) | 109.8 | 29.4 |
Net Financial income | 2.5 | (8.5) | (6.0) | (3.7) | (6.0) | (9.7) |
Income tax | (10.8) | (1.9) | (12.6) | 32.0 | (30.3) | 1.7 |
Net Income | 37.3 | 0.0 | 37.4 | (52.1) | 73.5 | 21.4 |
Diluted earnings per share | 0.39 | 0.00 | 0.39 | (0.54) | 0.76 | 0.22 |
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Source: UBISOFT ENTERTAINMENT via Thomson Reuters ONE