2007 Annual report - Groupe M6

MANAGEMENT REPORT
6.
Off-balance sheet commitments
At 31 December 2007, commitments given by the Group totalled € 884.3 million,
compared to € 909.9 million at 31 December 2006, a decline of € 25.6 million.
This movement resulted from contrasting developments:
- commitments entered into by the Group in respect of co-productions and rights
purchases amounted to € 691.1 million, a decrease of € 38.5 million. This movement
primarily concerned the M6 TV network (decrease of € 50.3 million), reflected the delivery
to inventory of part of audiovisual right purchase commitments, which generated as a
result an increase in broadcasting right inventories. The majority of the balance in the
movement was attributable to SND;
- commitments given for image transmission and satellite and transponder rental
increased by € 41.8 million to € 157.1 million, due to the extended term of contracts
signed with technical broadcasters following renegotiations, as well as extended DTT
coverage;
- the € 12.6 million increase in operating leases was primarily due to the relocation of the
distance selling business to new premises in Rungis;
- the balance of commitments given, amounting to € 41.4 million, was primarily due to
the finalisation in 2007 of the acquisition of a building in Neuilly-sur-Seine. A € 37.5 million
commitment had been recognised at the 2006 year end in respect of this purchase.
At 31 December 2007, commitments received by the Group totalled € 140.9 million, a
decline of € 48.5 million.
They primarily comprised commitments received from Canal + France, cable operators
and internet service providers in respect of the distribution of Group channels. These
commitments decreased by € 22.0 million to € 120.1 million, due to contracts progressing
closer to their terms.
M6 GROUP - 2007 annual report
46