Assassin's Creed
GameBy Ubisoft Montreal · Released Nov 13, 2007
Documents about Assassin's Creed
Ubisoft H1 FY25 Earnings
Ubisoft’s H1 FY25 earnings report outlines a challenging financial period characterized by a decline in net bookings and a shift toward operational restructuring.
- Ubisoft reported H1 FY25 net bookings of €642 million, a 22% year-over-year decline, resulting in a non-IFRS net loss of €208 million.
- The company is executing a restructuring plan to reduce fixed costs by at least €200 million by FY26 relative to its FY23 base.
- Operational efficiency measures have led to a reduction of over 2,000 employees over the past two years and a €46 million decrease in H1 fixed costs.
Ubisoft Updates Its Financial Targets for FY2024-25
Ubisoft has revised its financial targets for the 2024-25 fiscal year, now projecting net bookings of approximately €1.95 billion and aiming for a break-even non-IFRS operating income and free cash flow.
- Ubisoft has lowered its FY2024-25 financial targets to approximately €1.95 billion in net bookings, aiming only for break-even non-IFRS operating income and free cash flow.
- Second-quarter net bookings are now projected to reach between €350 million and €370 million, missing internal expectations due to the underperformance of Star Wars Outlaws.
- The release of Assassin’s Creed Shadows is delayed to February 14, 2025, to allow for further polish and to accommodate a shift away from the traditional Season Pass model.
Ubisoft FY24 Earnings
Ubisoft’s fiscal year 2024 earnings report highlights a successful financial turnaround, characterized by a return to profitability and the achievement of key performance targets.
- Ubisoft returned to profitability in FY24 with €401 million in non-IFRS operating income, a significant turnaround from the previous year's loss.
- Net bookings grew to €2,321 million, driven by strong engagement in Assassin’s Creed and Rainbow Six, which each maintained over 30 million unique users.
- The company reduced its fixed cost base by €150 million year-on-year, with a target of €200 million in total savings by FY2026.
Ubisoft Full-Year 2023-24 Earnings Figures
Ubisoft achieved a significant financial turnaround during the 2023-24 fiscal year, transitioning from substantial losses to profitability.
- Ubisoft returned to profitability in fiscal year 2023-24, reporting a net income of €157.9 million compared to a €494.7 million loss in the previous year.
- Net bookings reached a record €2.32 billion, marking a 33.5% year-over-year increase driven by strong back-catalog sales and a 12% rise in total player engagement hours.
- The company improved operational efficiency by reducing its fixed cost base by €150 million through a reorganized internal model and streamlined production strategy.
Ubisoft Half Year Financial Report H1 FY24
Ubisoft demonstrated a significant financial recovery during the first half of the 2024 fiscal year, transitioning from substantial losses to profitability.
- Ubisoft achieved a non-IFRS operating profit of €43.5 million for H1 FY24, reversing a €139.0 million loss from the same period in the previous year.
- Net bookings grew 17.6% to €822.4 million, driven by the releases of Assassin's Creed Mirage and The Crew Motorfest alongside back-catalogue performance.
- Total revenue increased 14.3% to €836 million, reflecting the effectiveness of the company's current release strategy and operational focus.
Ubisoft First-Half 2023-24 Earnings Figures
Ubisoft’s first-half earnings for fiscal year 2023-24 demonstrate strong financial momentum, characterized by record net bookings and performance that exceeded initial targets.
- Ubisoft reported first-half fiscal year 2023-24 net bookings of €822.4 million, a 17.6% year-over-year increase that exceeded initial financial targets.
- The company achieved a non-IFRS operating income of €43.5 million, marking a significant recovery from the €139 million loss reported in the same period last year.
- Second-quarter performance was a primary growth driver, with net bookings reaching €554.8 million against a projected €350 million.
Ubisoft Reports First-Quarter 2023-24 Sales
Ubisoft announced first-quarter fiscal 2023-24 sales, reporting IFRS 15 revenue of €288.9 million and net bookings of €267.7 million, both down 8–9% YoY but exceeding the target of €240 million.
- Ubisoft reported Q1 fiscal 2023-24 net bookings of €267.7 million, an 8-9% year-over-year decline that nonetheless exceeded the company's internal target of €240 million.
- Live-service titles Tom Clancy’s Rainbow Six Siege and The Division 2 drove performance with double-digit growth in both net bookings and daily active users.
- Digital net bookings accounted for 90% of total revenue, despite an overall 8% decline in the digital segment and a 17% drop in player-recurring investment (PRI).
Ubisoft FY23 Earnings Results
The Ubisoft fiscal year 2023 earnings results detail a challenging period characterized by a strategic pivot toward cost optimization and a focus on core intellectual properties.
- Ubisoft reported net bookings of €1,739 million for FY23, an 18% year-over-year decline that resulted in a non-IFRS operating loss of €500.2 million.
- Management has launched a cost-reduction program targeting €200 million in savings over two years, supported by a headcount reduction of over 700 employees since September 2022.
- The company is shifting its strategic focus toward core intellectual properties like Assassin’s Creed and Rainbow Six while testing the free-to-play market with titles such as XDefiant and The Division Heartland.
Ubisoft Full-Year 2022-23 Earnings Figures
Ubisoft’s fiscal year 2022-23 served as a period of strategic transition, characterized by a pivot toward core brand expansion and the implementation of a significant cost-reduction program.
- Ubisoft reported net bookings of €1,739.5 million for fiscal year 2022-23, representing an 18.3% decline and a non-IFRS operating loss of €500.2 million.
- The company is executing a restructuring plan to cut €200 million in non-variable costs over two years, involving the closure of five European offices and a reduction of the global workforce to under 20,000 employees.
- Management is targeting a return to profitability in fiscal year 2023-24 with a projected non-IFRS operating income of approximately €400 million.
Ubisoft Third-Quarter 2022-23 Sales
Ubisoft’s third-quarter fiscal 2022-23 sales report outlines the company’s financial performance for the period ending December 31, 2022, while detailing strategic shifts toward operational efficiency and brand-focused development.
- Ubisoft reported Q3 2022-23 net bookings of €726.9 million, with nine-month fiscal year-to-date bookings reaching €1,426.3 million, a 2.6% decline year-over-year.
- Player Recurring Investment (PRI) grew by 57.1% to €841.7 million, now representing 59% of total net bookings.
- Mobile gaming's share of quarterly net bookings surged to 43%, up from 7% in the same period the previous year, while console and PC shares declined.
Ubisoft Strategic Focus Update: 2022-23 Financial Targets
Ubisoft has announced a significant strategic pivot to address recent financial underperformance and shifting industry dynamics characterized by a move toward mega-brands and long-term live services.
- Ubisoft is pivoting to a brand-centric strategy, canceling seven projects and prioritizing high-impact franchises to counter recent financial underperformance.
- The company expects a full-year net bookings decline of over 10%, a significant reversal from previous projections of 10% growth.
- Management forecasts a non-IFRS operating loss of €500 million for the 2022-23 fiscal year.
Ubisoft Half Year Financial Report: H1 FY23
Ubisoft’s financial performance for the first half of fiscal year 2023 reflects a period of strategic transition characterized by a slight contraction in revenue and a net loss of €190.1 million.
- Ubisoft reported a net loss of €190.1 million for H1 FY23, driven by a 2.7% revenue decline to €731.2 million and rising operational costs.
- Research and development expenditures reached €486.5 million, accounting for 66.5% of total revenue during the period.
- Despite the revenue contraction, net bookings of €699.4 million exceeded internal targets, supported by the performance of the Rainbow Six Siege and Assassin’s Creed franchises.
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