DOCSLIB.ORG

FY12 Earnings Presentation

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
FY12 Earnings Presentation FY12 Earnings Presentation May 15, 2012 Yves Guillemot, President and Chief Executive Officer Alain Martinez, Chief Financial Officer Jean-Benoît Roquette, Head of Investor Relations 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)). 2 Summary FY12 : Performance driven by strong performance from Just Dance, Assassin’s Creed and online/digital FY12 : Operating income up 90%, at the top end of initial guidance FY12 : Solid financial situation of 85 M€ with positive operating cash flows FY12 : Continued investments in online opportunities and next generation of consoles FY13 : A turning point FY13 : Significantly stronger offer for core gamers + re-enters the shooter genre + continued online/digital momentum FY13 : Strong topline and profitability growth expected from core games and online/digital FY13 : > 40% operating income growth based on midpoint of guidance Longer term : Significant opportunities with next generation of consoles and Free-to-Play market 3 Agenda FY12 performance FY13, a turning point Longer term 4 FY12 : Sales driven by Just Dance, Assassin’s Creed and Online/Digital Sales : 1 061 M€, +4% at constant exchange rate Total Core sales : 578 M€ Strong performance : Assassin’s Creed − Settlers Online Critical success : Driver San-Francisco − Rayman Origins FY12 Total Casual sales : 483 M€ Strong performance : Just Dance − Howrse Successful launch : Rocksmith Online/Digital (Core + Casual) sales : 80 M€, up 111% 5 FY12 : Sales In million € Core Brands Casual Brands Total sales FY11 600 438 1 038 FY12 578 483 1 061 FY12 vs FY11 -4% +10% +2% Core & Casual In million € Core Retail Casual Retail Total sales Online/Digital FY11 565 435 38 1 038 FY12 511 470 80 1 061 FY12 vs FY11 -10% +8% +111% +2% 6 FY12 : Margins continue to improve Gross margin up almost 3 percentage points Thanks to better online and back-catalog Current operating income : 56 M€, +90% Top end of guidance provided 12 months ago (40 M€ − 60 M€) FY12 Solid Net cash position : 85 M€ Better than anticipated Operating Cash flows with continued : Effective WCR management Strong investment in future opportunities 7 FY12 : Profitability up 2011-12 2010-11 € million % €m % 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 G&A expenses (75,3) 7,1 (67,9) 6,5 SG&A expenses (313,7) 29,6 (280,8) 27,0 Current operating income 56,0 5,3 29,4 2,8 . Gross margin up almost 3 percentage point and +44.5 M€ on +22.5 M€ sales . Continued improvement of back-catalog gross margin + online sales momentum . R&D down 15.1 M€ . Lower depreciation due to fewer HD releases, partly compensated by . royalties increase (dance) and increase in online related expenses . Anticipated depreciation of a FY13 title for an amount similar to the 20 M€ that had been anticipated in FY11 . SG&A up 32.9 M€ . variable marketing expenses up at 177.1 M€ or 16.7% of sales (160.4 M€ and 15.4% in FY11). Related to dance and online growth. fixed structure costs at 136.6 M€ or 12.9% of sales (120.3 M€ and 11.5% in FY11), due mostly to higher online related costs. 8 FY12 : Capitalized investments slightly up € million 2011-12 2010-11 Depreciation of in-house games 206,1 240,9 Depreciation of external games and licences 64,4 61,2 Royalties 51,2 45,1 Non Capitalized R&D & others 26,7 16,4 Total Current R&D depreciation and royalties 348,4 363,5 Total Non Current R&D 0,0 85,4 Total R&D depreciation and royalties 348,4 448,9 Capitalized software-related production 301,8 287,5 Investment in external production and licenses 48,1 51,5 (excluding future commitments) Royalties 51,2 45,1 Non Capitalized R&D & Others 26,7 16,4 Total development investment 427,7 400,4 . Depreciation down : 31.6 M€, due to product mix (less high-end releases), see prior slide . Increase in royalties : dance titles . Increase in Non Capitalized R&D : cash expenses related to ramping investments on online (new contents for released online games, etc…) . 3% increase in internal and external capitalized investment . Increased gap between current R&D depreciation and capitalized investments : +79 M€ . Capitalized R&D : stands at year end at 415 M€ vs 350 M€ 9 FY12 : Net Income up € million 2011-12 2010-11 Current operating income 56,0 29,4 Fair Value Variation 0,0 (1,4) Stock-based compensation (10,4) (11,1) Other revenues (expenses) 0,0 (97,4) Operating income/(loss) 45,6 (80,5) Net financial income/(expense) 2,5 ( 3,7) Share of profit of associates 0,0 0,0 Net income tax (10,8) 32,1 Net income 37,3 (52,1) Diluted earnings/(loss) per share (€) 0,39 (0,54) Nbr of shares fully diluted 95 632 96 961 . Financial income of 2.5 M€ : . Interest charge: (2.5) M€ vs (5.0) M€ in FY11 . FY11 : a (3.6) M€ charge related to sell-off on tax credit . 8.5 M€ gains on GLFT shares (3.2 million shares sold, 3.2 million still owned) vs a 5,7 M€ gains in FY11 . Foreign exchange : (3.4) M€ vs (4.3) M€ loss in FY11 . Tax rate 18,4% excl. stock base compensation : impact Gameloft shares + various other tax adjustments . Nbr of shares fully diluted : 95.6 million. As of today, no impact from Equity Line and BSAs 10 FY12 : Net income before non recurring elements and stock-based compensation 2011-12 2010-11 In million €, Before non recurring Before non recurring except for per share data As reported Adjustment elements and stock As reported Adjustment elements and stock based based compensation 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 ( 1 009,5) 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 29,3 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 11 FY12 : Closing cash position better than anticipated € million 2011-12 2010-11 Opening cash position 99,2 41,3 Cash flows from operations (27,0) 28,3 Change in WCR 35,2 25,9 Cash flows from operating activities 8,2 54,2 Net investment in capital assets (25,5) ( 22,0) Net free cash flow (17,3) 32,2 Net acquisitions/disposals (17,5) ( 4,7) Sale of Gameloft Shares 13,7 10,5 Proceeds from issue of capital and other financial flows (1,3) 1,5 Tax credit sales 0,0 21,9 Effect of exchange rate fluctuations 7,8 ( 3,4) Decrease/(increase) in net debt (14,6) 57,9 Closing cash position 84,6 99,2 . Continued improvement of our WCR, down 35,2 M€ . Cash flows from operating activities decrease impacted by 62 M€ one-time events and tax related events . Impact from tax factoring : 20 M€ . Impact from tax reimbursement in FY11 : 13 M€ . Impact Canadian Subisdies factoring : 29 M€ . Excluding one time events, Cash flows from operating activities improved by 15.9 M€ 12 FY12 : Cash flows comparisons impacted by one-time events € million 2011-2012 2010-11 Cash flows from operations (27,0) 28,3 Year on year difference (55,3) Tax credit related to FY11 non current R&D charges (32,5) Excluding one time events, Cash flows from operations year on year difference is (22.8) M€ € million 2011-2012 2010-11 Change in WCR 35,2 25,9 Year on year difference 9,3 Impact of tax credit factoring (20,0) Impact of tax reimbursement in H1 FY11 (13,0) Impact of Canadian Subsidies Factoring initiated in FY11 (29.0) Impact of tax credit related to H1 FY11 non current R&D charges 32,5 Excluding one time events, WCR improvement is 38.8 M€ Excluding one time events and on a comparable basis, Cash flow from operating activities has improved by 15.9 M€ 13 Agenda FY12 performance FY13, a turning point Longer term 14 FY13 : A turning point Expectations Sales : 1 160 M€ – 1 200 M€, up +9% to +13% Gross margin : up 2 to 3 percentage points Current Operating Income : 70 M€ – 90 M€, up +25% to +61% Positive Operating Cash Flows Key drivers FY13 Investments in versatile teams and online Bigger focus on huge AAA titles, integration of social benefits and item model Lead / Associate studios organization Impact Significantly stronger offer for core gamers on HD consoles Re-enters the shooter genre Ongoing online/digital momentum 15 FY13 : Driven by core games and online/digital In million € Core Brands Casual Brands Total sales FY12 578 483 1 061 Material decrease FY13 Significant growth conservatively 1 160 – 1 200 budgeted Core & Casual In million € Online/Digital FY12 80 FY13 +80 / +100% growth 16 FY13 Core Games : Significantly stronger offer on HD consoles A significant progression opportunity lies in front of Ubisoft Ubisoft Core Games Sales HD consoles market software sales PS2 + Xbox + Xbox360 + PS3 Xbox360 + PS3 (sell-thru $ million) ($ million) 1 200 14 000 1 000 12 000 10 000 800 8 000 600 6 000 400 4 000 200 2 000 0 0 2007 2008 2009 2010 2011 2007 2008 2009 2010 2011 2012e Ubisoft delivers its strongest line-up for core gamers in FY13 with Assassin's Creed 3, FarCry 3 and Ghost Recon Future Soldier 17 Excludes Asia.
Load more

Recommended publications
  • Ubisoft Studios
    CREATIVITY AT THE CORE UBISOFT STUDIOS With the second largest in-house development staff in the world, Ubisoft employs around 8 000 team members dedicated to video games development in 29 studios around the world. Ubisoft attracts the best and brightest from all continents because talent, creativity & innovation are at its core. UBISOFT WORLDWIDE STUDIOS OPENING/ACQUISITION TIMELINE Ubisoft Paris, France – Opened in 1992 Ubisoft Bucharest, Romania – Opened in 1992 Ubisoft Montpellier, France – Opened in 1994 Ubisoft Annecy, France – Opened in 1996 Ubisoft Shanghai, China – Opened in 1996 Ubisoft Montreal, Canada – Opened in 1997 Ubisoft Barcelona, Spain – Opened in 1998 Ubisoft Milan, Italy – Opened in 1998 Red Storm Entertainment, NC, USA – Acquired in 2000 Blue Byte, Germany – Acquired in 2001 Ubisoft Quebec, Canada – Opened in 2005 Ubisoft Sofia, Bulgaria – Opened in 2006 Reflections, United Kingdom – Acquired in 2006 Ubisoft Osaka, Japan – Acquired in 2008 Ubisoft Chengdu, China – Opened in 2008 Ubisoft Singapore – Opened in 2008 Ubisoft Pune, India – Acquired in 2008 Ubisoft Kiev, Ukraine – Opened in 2008 Massive, Sweden – Acquired in 2008 Ubisoft Toronto, Canada – Opened in 2009 Nadeo, France – Acquired in 2009 Ubisoft San Francisco, USA – Opened in 2009 Owlient, France – Acquired in 2011 RedLynx, Finland – Acquired in 2011 Ubisoft Abu Dhabi, U.A.E – Opened in 2011 Future Games of London, UK – Acquired in 2013 Ubisoft Halifax, Canada – Acquired in 2015 Ivory Tower, France – Acquired in 2015 Ubisoft Philippines – Opened in 2016 UBISOFT PaRIS Established in 1992, Ubisoft’s pioneer in-house studio is responsible for the creation of some of the most iconic Ubisoft brands such as the blockbuster franchise Rayman® as well as the worldwide Just Dance® phenomenon that has sold over 55 million copies.
    [Show full text]
  • Class Action Chamber)
    CANADA PROVINCE OF QUEBEC SUPERIOR COURT DISTRICT OF MONTREAL (CLASS ACTION CHAMBER) No: 500-06-001132-212 GABRIEL BOURGEOIS Petitioner -vs.- ELECTRONIC ARTS INC., legal person duly constituted, having its address of service at 1209 Orange Street, Wilmington, DE 19801 USA and ELECTRONIC ARTS (Canada), INC., legal person duly constituted, having its address for service at 1800 510 West Georgia St., Vancouver, BC, V6B 0M3, Canada and ACTIVISION BLIZZARD INC., legal person duly constituted, having its address for service at 251 Little Falls Drive, Wilmington, New Castle, Delaware, 19808 and ACTIVISION PUBLISHING INC., legal person duly constituted, having its address for service at 251 Little Falls Drive, Wilmington, New Castle, Delaware, 19808 and BLIZZARD ENTERTAINMENT INC., legal person duly constituted, having its address for service at 251 Little 1 Falls Drive, Wilmington, New Castle, Delaware, 19808 and TAKE TWO INTERACTIVE SOFTWARE INC., legal person duly constituted, having its address for service at 251 Little Falls Drive, Wilmington, Delaware, 19808 and TAKE TWO INTERACTIVE CANADA HOLDINGS INC., legal person duly constituted, having its address for service at 5770 Hutontario St, Mississauga, Ontario, L5R 3G5 and 2K GAMES INC., legal person duly constituted, having its address for service at 251 Little Falls Drive, Wilmington, Delaware, 19808 and ROCKSTAR GAMES INC, legal person duly constituted, having its address for service at 251 Little Falls Drive, Wilmington, Delaware, 19808 and WARNER BROS. ENTERTAINMENT INC., legal person duly constituted, having its address for service at 1209 Orange St., Wilmington, DE 19801 and WARNER BROS ENTERTAINMENT CANADA INC., legal person duly constituted, having its address for service at Suite 1600, 5000 Yonge Street, Toronto, Ontario, M2N 6P1 and 2 WARNER BROS.
    [Show full text]
  • Disruptive Innovation and Internationalization Strategies: the Case of the Videogame Industry Par Shoma Patnaik
    HEC MONTRÉAL Disruptive Innovation and Internationalization Strategies: The Case of the Videogame Industry par Shoma Patnaik Sciences de la gestion (Option International Business) Mémoire présenté en vue de l’obtention du grade de maîtrise ès sciences en gestion (M. Sc.) Décembre 2017 © Shoma Patnaik, 2017 Résumé Ce mémoire a pour objectif une analyse des deux tendances très pertinentes dans le milieu du commerce d'aujourd'hui – l'innovation de rupture et l'internationalisation. L'innovation de rupture (en anglais, « disruptive innovation ») est particulièrement devenue un mot à la mode. Cependant, cela n'est pas assez étudié dans la recherche académique, surtout dans le contexte des affaires internationales. De plus, la théorie de l'innovation de rupture est fréquemment incomprise et mal-appliquée. Ce mémoire vise donc à combler ces lacunes, non seulement en examinant en détail la théorie de l'innovation de rupture, ses antécédents théoriques et ses liens avec l'internationalisation, mais en outre, en situant l'étude dans l'industrie des jeux vidéo, il découvre de nouvelles tendances industrielles et pratiques en examinant le mouvement ascendant des jeux mobiles et jeux en lignes. Le mémoire commence par un dessein des liens entre l'innovation de rupture et l'internationalisation, sur le fondement que la recherche de nouveaux débouchés est un élément critique dans la théorie de l'innovation de rupture. En formulant des propositions tirées de la littérature académique, je postule que les entreprises « disruptives » auront une vitesse d'internationalisation plus élevée que celle des entreprises traditionnelles. De plus, elles auront plus de facilité à franchir l'obstacle de la distance entre des marchés et pénétreront dans des domaines inconnus et inexploités.
    [Show full text]
  • PDF Lecture Notes
    AN INTRODUCTION TO Stylized Rendering in Games Morgan McGuire NVIDIA and Williams College July 26, 2010 SIGGRAPH 2010 Los Angeles, CA Edited July 25, 2010 1 Course Overview Games like Prince of Persia and Battlefield Heroes deliver artistic visions beyond standard photo-realistic 3D. In this course, game developers teach the challenges of creating distinctive visual styles for interactive environments and some of their own solutions. Topics include the art pipeline, rendering algorithms, and integrating visuals with gameplay. Why stylized rendering? As they matured, the visual arts (painting, sculpture, photography, and architecture) all developed new visual-abstraction mechanisms to go beyond "realism". Recent advances in visual effects have put film and games into this transitional state. In a sense, we're like artists at the end of the Renaissance: we've nearly mastered photorealism, but are only at the beginning of our discoveries about expression and perception. Some effects are subtle, like the color shifts and post-processing in Mirror's Edge. Others, such as the graphic-novel look of Prince of Persia, dominate the entire rendering style. In games, real-time and interactive constraints require more efficient and robust solutions than are employed elsewhere in computer graphics. And to be successful, a stylized renderer must integrate with appropriately stylized models, animation, and audio to form a coherent virtual world and ultimately enhance game play. These notes are Copyright 2010 Morgan McGuire All Rights Reserved The credited game screen shots included are copyrighted by their respective publishers, and the game titles are trademarks of their respective publishers and/or developers.
    [Show full text]
  • Ubisoft's Assassin's Creed Valhalla Delivers Massive Day One Player
    UBISOFT’S ASSASSIN’S CREED VALHALLA DELIVERS MASSIVE DAY ONE PLAYER ENGAGEMENT Critically Acclaimed as “Ubisoft’s Best Assassin's Creed to Date" 1, Assassin’s Creed Valhalla Doubles Assassin’s Creed Odyssey’s Players on Launch Day Paris, France — November 12, 2020 — Today, Ubisoft® announced exceptional player activity for Assassin’s Creed® Valhalla, the latest iteration of the Assassin’s Creed franchise, released on November 10. The number of active players on launch day for Assassin’s Creed Valhalla doubled that of Assassin’s Creed Odyssey, a trend that is expected to continue as sales of the new generation of consoles increase. A testament to Assassin’s Creed Valhalla delivering on players’ expectations for its fascinating world and immersive narrative, the game has reached high levels of viewership and engagement on Twitch and YouTube that surpass any Ubisoft game launch to date. “We are humbled by the reception from the players and extremely proud of what our teams have accomplished with Assassin’s Creed Valhalla, which builds on the amazing success of its predecessors,” said Yves Guillemot, Ubisoft co-founder and CEO. “In the context of COVID-19, shipping Assassin’s Creed Valhalla on no less than seven platforms is an incredible achievement for all of the teams involved around the world. We are excited to greet players on Xbox Series X|S and PlayStation 5 with a game that unleashes the power of the new hardware. This paves the way for an exciting holiday, with Assassin’s Creed Valhalla set to be one of this season’s biggest hits.” The successful launch of Assassin’s Creed Valhalla once again demonstrates Ubisoft’s achievement in continuing to drive the franchise forward.
    [Show full text]
  • Ubisoft® Berlin to Open Early 2018 and Collaborate on Far Cry® Series
    UBISOFT® BERLIN TO OPEN EARLY 2018 AND COLLABORATE ON FAR CRY® SERIES Istvan Tajnay assigned as Studio Manager Düsseldorf, Germany, November 16 2017 – Today Ubisoft revealed further information regarding its new development studio in Berlin; the team will be focusing on collaborating on big Ubisoft brands, starting with the award-winning Far Cry series. Istvan Tajnay has been nominated Studio Manager of the studio, reporting to Benedikt Grindel, Managing Director of Ubisoft Blue Byte. Istvan has been working at Ubisoft Blue Byte since 2012, most recently as Studio Operations Director. The Berlin studio will open its doors at the beginning of 2018. “We are thrilled to be opening the doors to Ubisoft Berlin, and working on the Far Cry series together with other Ubisoft teams”, says Istvan Tajnay, Studio Manager, Ubisoft Berlin. “In the first year, we will build a core team of around 50 developers drawing on all areas of expertise. We are currently recruiting for these positions and the reception so far is overwhelmingly positive and candidates are of a very high calibre.” The new studio is located in the centre of Berlin, only a few minutes’ walk away from the famous shopping street Kurfürstendamm, the Berlin Zoo and the Kaiser Wilhelm Memorial Church. “As part of Ubisoft’s global growth strategy, we have high hopes to continue to build up our teams in Ubisoft Berlin in the coming years. However, this growth also depends on the future development of funding video games in Germany”, says Benedikt Grindel, Managing Director, Ubisoft Blue Byte. “I am confident that we have found a strong studio head in Istvan Tajnay who is ready to take on this challenge.
    [Show full text]
  • Corporate Governance Report
    CHAPTER 2 - Corporate Governance Report 2 1 CORPORATE GOVERNANCE REPORT 2 2.1 GENERAL PRESENTATION OF FRENCH 2.4 SUPERVISORY BOARD AFR 49 PARTNERSHIPS LIMITED BY SHARES 2.4.1 Members 49 AND OF LAGARDÈRE SCA AFR 39 2.4.2 Board’s internal rules and operation 2.1.1 General presentation of French partnerships 65 limited by shares 39 2.4.3 2019 work schedule 65 2.1.2 Presentation of Lagardère SCA 39 2.4.4 Supervisory Board Committees 67 3 2.4.5 Assessment of the Supervisory 2.2 PRINCIPAL PROVISIONS Board’s membership structure OF THE COMPANY’S ARTICLES and operating procedures 70 OF ASSOCIATION AFR 40 2.4.6 Compliance with French corporate 2.2.1 Corporate purpose 40 governance regulations – Afep-Medef 71 2.2.2 Managing Partners 40 2.5 REMUNERATION 2.2.3 Supervisory Board 41 4 AND BENEFITS OF EXECUTIVE 2.2.4 General Partners CORPORATE OFFICERS AFR 72 (article 18 of the Articles of Association) 42 2.5.1 Remuneration policy for executive 2.2.5 Requirements for changing corporate officers 72 shareholders’ rights 43 2.5.2 Total remuneration and benefits paid 2.2.6 General Meetings of shareholders 43 during or allocated in respect of 2019 to the executive corporate officers 2.2.7 Requirements for a change in control 78 of the Company 45 5 2.2.8 Disclosure of shareholdings 2.6 REMUNERATION AND BENEFITS exceeding specific thresholds OF THE MEMBERS OF THE SUPERVISORY BOARD AFR 101 (article 9 A of the Articles of Association) 45 2.6.1 Remuneration policy for the members of the Supervisory Board 101 2.3 INFORMATION CONCERNING THE GENERAL PARTNERS 2.6.2
    [Show full text]
  • UNIVERSAL REGISTRATION DOCUMENT and Annual Financial Report Contents
    2021 UNIVERSAL REGISTRATION DOCUMENT and Annual Financial Report Contents Message from the Chairman and Chief Executive Offi cer 3 1 Key fi gures AFR 5 6 Financial statements 195 1.1 Quarterly and annual consolidated 6.1 Consolidated fi nancial sales 6 statements for the year 1.2 Sales by platform (net bookings) 7 ended March 31, 2021 AFR 196 1.3 Sales by geographic region 6.2 Statutory Auditors’ report (net bookings) 8 on the consolidated fi nancial statements AFR 262 2 Group presentation 9 6.3 Separate fi nancial statements of Ubisoft Entertainment SA for 2.1 Group business model the year ended March 31, 2021 AFR 267 and strategy AFR DPEF 10 6.4 Statutory Auditors’ report 2.2 History 14 on the separate fi nancial 2.3 Financial year highlights AFR 15 statements AFR 300 2.4 Subsidiaries and equity 6.5 Statutory Auditors’ special report investments AFR 17 on regulated agreements and 2.5 Research and development, commitments 305 investment and fi nancing policy AFR 19 6.6 Ubisoft (parent company) results 2.6 2020-2021 performance review for the past fi ve fi nancial years AFR 306 (non-IFRS data) AFR 21 2.7 Outlook AFR 25 7 Information on the Company 3 Risks and internal control AFR 27 and its capital 307 3.1 Risk factors 28 7.1 Legal information AFR 308 3.2 Risk management and internal 7.2 Share capital AFR 311 control mechanisms 38 7.3 Share ownership AFR 316 7.4 Securities market 321 7.5 Additional information AFR 326 4 Corporate g overnance r eport AFR 45 4.1 Corporate governance 46 8 Glossary, cross-reference tables 4.2 Compensation of corporate
    [Show full text]
  • Marvel Avengers Battle for Earth on Kinect for Xbox
    From: Sarah Irvin <[email protected]> Subject: MARVEL AVENGERS BATTLE FOR EARTH ON KINECT FOR XBOX 360 NOW AVAILABLE AT RETAILERS ACROSS NORTH AMERICA Date: October 31, 2012 2:17:06 PM EDT To: [email protected] ***MEDIA ALERT*** MARVEL AVENGERS BATTLE FOR EARTH ON KINECT FOR XBOX 360 NOW AVAILABLE AT RETAILERS ACROSS NORTH AMERICA What: Marvel Avengers™ Battle for Earth Now Available At Retail Platform: Kinect for Xbox 360, Nintendo Wii U When: October 30th for Kinect, December 2012 for Wii U Rating: ESRB T (Teen) Assets: Download Assets for Immediate Posting: ftp://UbisoftPress:[email protected]/MarvelLaunchAssets.zip Download Video for Immediate Posting: ftp://UbisoftPress:[email protected]/MarvelLaunchTV.zip Check out Stan Leeʼs latest Rant on Stan Leeʼs World of Heroes about Marvel Avengers Battle for Earth: http://youtu.be/kF0tWbYoYEw Details: Today, Ubisoft announced that Marvel Avengers Battle for Earth is now available to purchase at retailers in North America. Marvel Avengers Battle for Earth is the ultimate super hero brawler set in authentic comic book-style art environments and based on the iconic Secret Invasion storyline. Players will travel back in time to the iconic tropical prehistoric preserve, the Savage Land, or hop on board the signature ship of the fictional intelligence/defense agency S.H.I.E.L.D. to save the Marvel universe from the skrull invasion. Battle for Earth provides endless amounts of fun entertainment for the family through a variety of gameplay modes such as campaign, arcade, challenges, versus and tournament. Whether young or old, fans will enjoy embodying their favorite character in the popular co-op mode and go online to battle their friends.
    [Show full text]
  • Registration Document and Annual Report Contents
    2015 Registration Document and Annual Report Contents Message from the Chairman 3 1 Key fi gures 5 5 Financial statements 93 1.1 Quarterly and annual consolidated 5.1 Consolidated fi nancial statements as sales 6 at March 31, 2015 94 1.2 Sales by platform 7 5.2 Statutory auditors’ report on the consolidated fi nancial statements 142 1.3 Sales by geographic region 8 5.3 Separate fi nancial statements of Ubisoft Entertainment SA for the 2 Group presentation 9 year ended March 31, 2015 144 5.4 Statutory auditors’ report on the 2.1 Group profi le and strategy 10 annual fi nancial statements 170 2.2 History 10 5.5 Ubisoft (parent company) results 2.3 Subsidiaries and equity investments 11 for the past fi ve fi nancial years 172 2.4 Research and development, investment and fi nancing policy 13 6 Information on the Company 2.5 2014/2015 fi nancial year 15 and its capital 173 2.6 Outlook 19 6.1 Legal information 174 3 6.2 Share capital and stock ownership 177 Governance, risks, risk 6.3 Securities market 186 management and internal control 21 6.4 Securities other than equity securities 190 3.1 Report of the Chairman of the 6.5 Financial communication 191 Board of Directors on corporate governance, internal control and risk management 22 7 General Meeting 193 3.2 Compensation of corporate offi cers – options or free shares awarded 7.1 Agenda 194 to the Group’s employees and 7.2 Draft resolutions for approval corporate offi cers 48 by the General Meeting 195 3.3 Statutory auditors’ report on the 7.3 Statutory auditors’ special report of the Chairman of the
    [Show full text]
  • A Study for the Artist Through Theories of Art & Visual Perception
    This document is downloaded from DR‑NTU (https://dr.ntu.edu.sg) Nanyang Technological University, Singapore. Building 'Game worlds' : a study for the artist through theories of art & visual perception Lee, Jolly Yu See 2017 Lee, J. Y. S. (2017). Building 'Game worlds' : a study for the artist through theories of art & visual perception. Master's thesis, Nanyang Technological University, Singapore. http://hdl.handle.net/10356/70522 https://doi.org/10.32657/10356/70522 Downloaded on 27 Sep 2021 20:17:27 SGT Building ‘Game Worlds’: A Study For the Artist Through Theories of Art & Visual Perception by Lee Yu See Jolly Supervised by Kenneth Feinstein A thesis submitted in partial fulfilment of the requirements for the degree of Master of Arts Research programme in the School of Arts, Design and Media Nanyang Technological University May 2016 2 Acknowledgement The process of research is never an easy road and there are many people to be grateful to. This will be done in my acknowledgements and unfortunately, it may not be enough to express the amount of gratitude I have for all the encouragement, guidance and help received. Firstly, Rudolf Arnheim’s literature inspired the inclusion of the topic of visual perception within this research on visual game world. He was an exceptional psychologist, theorist and writer, who created Art and Visual Perception and The Power of the Center. It is an honour to study and apply his perceptual theories into the medium of video games. Secondly, I would like to thank the Professor and Chair, Vibeke Sorenson, for this wonderful opportunity to conduct a research within the School of Art, Design, and Media.
    [Show full text]
  • Ubisoft Reinforces Its Presence in Quebec City
    UBISOFT REINFORCES ITS PRESENCE IN QUEBEC CITY Quebec, 23 January 2014 – Today, Ubisoft announced its plans to invest CAD 28 million over the course of three years with the goal of creating 100 new jobs at its Quebec City studio. These investments will enable the studio to strengthen its infrastructure and recruit new talents, and take the lead on the development of AAA next-gen games. The Quebec government is supporting the studio’s expansion as part of the ESSOR program, with a contribution of CAD 510,000. Since its creation in 2005, the Ubisoft Quebec studio has developed expertise in state-of- the-art technologies and in the creation of online, connected and mobile gaming universes. The studio has also collaborated on development of games in the Assassin’s Creed®, Might & Magic® and Prince of Persia® series. “We’re pleased to be reinforcing our presence and our expertise in Quebec City with the help of the government” said Ubisoft co-founder and CEO, Yves Guillemot. “Ubisoft is home to more than 9,000 talented team members worldwide who are dedicated to creating the best games in the industry. Our Quebec City studio has demonstrated its ability to manage large-scale projects and it is a natural progression to entrust the team with the production of AAA next-gen games.” Nicolas Rioux, Managing Director and Vice President of Ubisoft Quebec, added, “Since the studio opened its doors, we’ve worked on almost 25 games, and our team of more than 320 talented people is recognized for its creativity and innovation.
    [Show full text]