PARIS (Reuters) – The French manufacturer of Ubisoft video games announced on Thursday of the results decreasing in the third quarter, marked by negotiations on the future of its shareholding and difficulties on its flagship game Assassin’s Creed.
The group confirmed its financial objectives for 2024-2025 with net reservations (“net bookings”) expected around 1.9 billion euros.
Net bookings in the third quarter are down 52% at constant exchange rates compared to the same period in 2023-2024.
They amount to 301.8 million euros, an amount slightly higher than the latest forecasts published by the group in January, of 300 million euros.
The producer of the Assassin’s Creed or Cretin rabbits published a third quarter turnover dropped by 47.8% at constant exchange rates.
In a statement published Thursday, Ubisoft said he continued to reduce its fixed cost base. The group said in January planned to exceed 200 million euros in reduction by 2025-26 compared to 2022-23, with studios closings and restructuring on other sites.
“With a solid back-catalog and important partnerships expected, the T4 net booking should grow compared to the previous year thanks to the release of Assassin’s Creed Shadows on March 20,” said the French manufacturer.
Disruption
In early January, Ubisoft announced in a statement to revise its forecasts for its net trimester in relation to its previous anticipations, dating from October. After announcing considering an amount of 380 million euros in October, the group decreased this figure to 300 million euros.
Ubisoft explained this decline by “lower than expected sales during the holiday season” especially for its star Wars Outlaws game, as well as stopping its XDEUSTIUS shooting game.
The group had announced to delay for the second time the release of the new opus from its flagship game, Assassin’s Creed Shadows.
“The review process of the various transforming strategic and capital options is following its course,” said the group on Thursday.
The founding family of the Guillemot brothers, the main shareholder of Ubisoft, began discussions to restructure Ubisoft with its second shareholder, the Chinese giant Tencent, and other investors.
Ubisoft action crosses large turbulence. Since the beginning of the year, it has receded 17.5% after dropping approximately 43% in 2024.
(Written by Florence Lève, edited by Blandine Hénault)
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