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AVANQUEST SOFTWARE | FY 2010/11 Corporate Brochure 7

BALANCE SHEET

SIGNIFICANT INCREASE IN DOWNLOADS

Asset 30/06/11 31/03/10

Intangible assets 115.7 103.8

Other non-current assets 8.8 7.0

Current assets 28.5 34.7

Cash and cash equivalents 10.9 20.4

Total Assets 163.9 165.9

Liabilities 30/06/11 31/03/10

Shareholders’ Equity 97.9 98.4

Provisions 1.9 2.1

Non-current liabilities 24.1 28.5

Current liabilities 40.0 36.9

Total Liabilities 163.9 165.9

In millions of Euros

he cash was used for the most part for loan repayment (€7.7M) and to finance acquisitions (€2.5M).

TABLE OF CASH FLOWS

In millions of Euros 2010/11 2009/10

Self-financing 7.0 7.6

Cash flow from operation 7.9 (1.5)

Net cash flow associated with investment (9.3) (4.3)

Net cash flow associated with financing (7.8) 11.7

Variation in cash and cash equivalents (9.2) +5.9

Cash and equivalents at opening 20.0 14.0

Cash and equivalents at closing 10,8 20,0

SOFTWARE SALES BY DOWNLOAD

he Web continues its strong advance +24%, with +26% for downloads.

DISTRIBUTION OF SALES BY CHANNEL

ominant positions in three territories, with an increase in Great-Britain despite the economic context and maintenance of market shares in the USA.

radual rebalancing in France with the acquisition of Micro Application.

GEOGRAPHIC DISTRIBUTION OF SALES