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4d ago

Ubisoft Reports 20.5% Drop in Net Bookings, Delays Major Games

The gaming giant faces a €159 million net loss and restructures its operations while reaffirming long-term profitability goals.

The logo of Ubisoft is seen in Montreuil, near Paris, France, July 13, 2020. REUTERS/Charles Platiau/File Photo
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'Assassin's Creed' came through with strong sales but could not keep Ubisoft from a net loss

Overview

  • Ubisoft's net bookings fell to €1.85 billion for FY24-25, a 20.5% decline, slightly below its guidance of €1.9 billion.
  • The company reported a €159 million net loss on €1.9 billion in revenue, down 17.5% year-on-year, due to underperforming releases and cancelled projects.
  • A pipeline review has led to delays for several major productions, with CEO Yves Guillemot emphasizing the need for quality-driven development over the next two years.
  • Ubisoft created a Tencent-backed €4 billion subsidiary for its top franchises, including Assassin's Creed, Far Cry, and Rainbow Six, to drive future growth.
  • The company aims for stable net bookings and break-even operating income in FY25-26, with positive cash flow projected by FY26-27.