ReportPullup Entertainment
Annual Financial Report and CSR Report: 2021/2022
97 pages~296 min full read
Key insights
7 slides
Key number
Dotemu acquisition added €60.7M in goodwill.
Focus Entertainment acquired 77.5% of Dotemu for €53.5M on September 30, 2021. The deal significantly increased the gross value of goodwill.
Page 47 of the report€72.747M
Gross value of goodwill after the Dotemu acquisition
- Gross value of goodwill before the acquisition
- €6.257M
The rising bill
Commitments to studios and right holders rose to €120.786M.
The company's commitments to studios and right holders dramatically increased from €39.290M in 2021 to €120.786M in 2022. €59.183M is due within one year.
Currency risk
US dollars accounted for 55% of consolidated revenue.
The proportion of sales billed in US dollars was 55% of consolidated revenue as of March 31, 2022. This exposes the company to currency risk.
What changed
The Supervisory Board met 14 times before its dissolution.
The Supervisory Board met 14 times during the year ended March 31, 2022, with an average attendance rate of 84%.
Regulatory
Focus Entertainment paid a €2.9M fine to the European Commission.
The fine was paid on July 12, 2021, related to an investigation into alleged technical and contractual restrictions on PC game circulation in Europe.
Share buyback
The company bought back 181,643 shares by March 31, 2022.
This was part of a program authorizing the buyback of up to 250,000 shares. The company held 299,365 of its own shares at that date.
CEO agreement
A non-competition agreement was signed with CEO Christophe Nobileau.
The agreement was signed on April 1, 2022, and is effective for his tenure and 18 months post-departure.
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Summary
ANNUAL FINANCIAL REPORT AS OF 31 MARCH 2022 1. INTRODUCTION pages 3 to 7 2. DECLARATION BY THE PERSON RESPONSIBLE page 8 3. MANAGEMENT REPORT pages 9 to 24 4. BOARD REPORT ON CORPORATE GOVERNANCE pages 25 to 33 5. AUDITOR’S REPORT ON THE CONSOLIDATED FINANCIAL STATEMENTS FOR YEAR ENDED 31 MARCH 2022 pages 34 to 36 6.
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