Ubisoft Rapport Financier Semestriel 2020-21

Ubisoft demonstrated resilient financial performance during the first half of the 2020-21 fiscal year, characterized by a 14.2 percent increase in net bookings to €754.7 million and a substantial rise in non-IFRS operating profit to €114.3 million. This growth was primarily fueled by the strength of the company’s back-catalogue and live service offerings, which successfully offset the operational disruptions caused by the global pandemic. While the company faced production challenges that necessitated the postponement of major titles such as Far Cry 6 and Rainbow Six Quarantine to the 2021-22 fiscal year, the underlying momentum of existing franchises remained a primary driver of stability.

In response to these production delays and unfavorable currency exchange fluctuations, the company revised its annual financial targets, establishing a net bookings range of €2,200 million to €2,350 million. Operational strategy during this period involved a €25.4 million reduction in research and development spending, contrasted by an increase in structural costs and a workforce expansion to 19,509 employees. A €36.5 million impairment charge was recorded against the mobile gaming division, reflecting a strategic reassessment of asset value within that segment.

The company maintains a solid liquidity position of €1.28 billion against a net financial debt of €434.5 million, ensuring full compliance with all financial covenants. Long-term obligations are managed through a combination of bonds and convertible instruments, while ongoing venture capital investments and acquisition options for entities like Green Panda Games and Kolibri Games indicate a continued focus on long-term growth. Despite the complexities of the global health crisis and ongoing international tax audits, the financial statements for the period ending September 30, 2020, were verified by auditors without significant findings, confirming the company’s overall fiscal stability.