Assassin's Creed

Ubisoft First-Half 2022-23 Earnings Figures

Ubisoft’s first-half 2022-23 financial performance reflects a period of significant transition and fiscal pressure, characterized by a net loss of €190.2 million and a non-IFRS operating loss of €139.0 million.

• Ubisoft reported H1 2022-23 net bookings of €699.4 million, a 2.6% decline year-on-year, though Q2 net bookings of €406.1 million exceeded the target of €270 million.
• The company recorded a non-IFRS operating loss of €139.0 million for the first half of 2022-23, compared to a profit of €44.1 million in the same period last year.
• Digital net bookings grew by 15.1% to €641.7 million, now accounting for 91.7% of total net bookings.

Ubisoft FY23 Earnings: First-Half Performance

Ubisoft’s first-half performance report for fiscal year 2023 details a period of financial transition characterized by a slight decline in net bookings alongside strategic operational shifts.

• Ubisoft reported a non-IFRS operating loss of €139 million for the first half of FY23, a significant decline from the €44.1 million profit recorded during the same period last year.
• Net bookings for the first half of FY23 totaled €699 million, representing a 3% year-over-year decrease despite a strong second quarter that exceeded projections by €136 million.
• R&D expenses surged to €452.2 million from €276.2 million in the prior year, driven primarily by increased depreciation of in-house software production.

Ubisoft First-Quarter 2022-23 Sales

Ubisoft’s first-quarter fiscal 2022-23 financial results demonstrate a performance slightly exceeding internal projections, with net bookings reaching €293.3 million against a target of €280 million.

Ubisoft FY22 Earnings

The fiscal year 2022 earnings report for Ubisoft outlines the company’s financial performance, strategic brand development, and organizational evolution.

• Ubisoft generated €2,129 million in net bookings for FY22, a 5% year-over-year decline, with non-IFRS operating income falling to €407.6 million from €473.3 million.
• Back-catalog titles remain the company's primary revenue driver, growing 11% to account for 67% of total net bookings, marking the fourth consecutive year legacy titles have provided over half of total revenue.
• Digital revenue remains a core business pillar, representing 78% of total net bookings for the fiscal year.

Ubisoft Full-Year 2021-22 Earnings Results

Ubisoft’s fiscal year 2021-22 performance reflects a period of strategic transition characterized by a moderate contraction in top-line financial metrics.

• Ubisoft experienced a financial contraction in fiscal year 2021-22, with net bookings falling 5.0% to €2,128.5 million and IFRS sales declining 4.4% to €2,125.2 million.
• The company’s liquidity position shifted significantly, moving from a positive free cash flow of €72.3 million to a negative €282.0 million, resulting in a net cash deficit of €282.7 million.
• Core franchises including Assassin’s Creed, Far Cry, and Rainbow Six achieved record-breaking performances, serving as the primary drivers of the company's stability.

Ubisoft Third-Quarter 2021-22 Sales

Ubisoft’s third-quarter fiscal 2021-22 results demonstrate the resilience of its vertically integrated, asset-based business model.

• Ubisoft reported third-quarter fiscal 2021-22 net bookings of €746.1 million, maintaining full-year guidance despite a 16.6% year-over-year decline in nine-month net bookings to €1,464.3 million.
• Back-catalog performance grew 10% year-over-year, driven by the longevity of key franchises and sustained post-launch support.
• Assassin’s Creed Valhalla outperformed Assassin’s Creed Odyssey in both life-to-date net bookings and Player Recurring Investment (PRI).

Ubisoft Entertainment: Rapport financier semestriel 2021-22

Ubisoft’s financial performance for the first half of the 2021-22 fiscal year reflects a period of strategic transition characterized by stable revenues and significant investment in long-term development.

• Ubisoft recorded 718.2 million euros in net bookings and 751.3 million euros in revenue for the first half of fiscal year 2021-22, supported by the back-catalogue and Assassin’s Creed Valhalla.
• Operating income contracted to 44.1 million euros, primarily due to a 306.5 million euro investment in research and development as part of a strategic workforce expansion to over 20,000 employees.
• Management revised the full-year net bookings forecast from growth to stability or slight decline following the decision to delay key titles like Prince of Persia and The Division Heartland to fiscal year 2022-23.

Ubisoft FY22 Earnings: H1 Performance

Ubisoft’s H1 FY22 earnings report details the company’s financial performance for the first half of the fiscal year, highlighting a period of transition characterized by a reliance on back-catalog strength and proprietary brand performance.

• Ubisoft reported H1 FY22 net bookings of €718 million, a 5% year-over-year decline but a 9% increase compared to H1 FY20.
• Digital revenue accounted for 78% of total net bookings, despite a 15% decrease in digital sales compared to the previous year.
• Player engagement metrics showed growth, with unique active players up 15% and monthly active users up 9% compared to H1 FY20 levels.

Ubisoft First-Half 2021-22 Earnings Figures: Sales Outperformance Driven by Back-Catalog

Ubisoft’s first-half financial results for the 2021-22 fiscal year demonstrate a strategic pivot toward long-term growth, characterized by a reliance on established back-catalog titles and the sustained popularity of Assassin’s Creed Valhalla.

• Ubisoft reported net bookings of €718.2 million for the first half of fiscal year 2021-22, marking an 8.6% increase over the 2019-20 period despite a year-over-year decline.
• Financial liquidity tightened significantly, with free cash flow dropping to (€333.1) million and the net cash position weakening to (€260.6) million due to aggressive investment in game development.
• Non-IFRS operating income fell to €44.1 million, yet management maintains a full-year operating income guidance range of €420 million to €500 million.

Ubisoft FY21 Earnings

The Ubisoft fiscal year 2021 earnings report details a period of significant financial growth and operational expansion for the company.

• Ubisoft achieved a 46% year-over-year increase in net bookings, reaching 2,240.6 million euros for fiscal year 2021.
• Non-IFRS operating income reached a record 473.3 million euros, a significant increase from the 34.2 million euros reported in the previous fiscal year.
• Digital revenue accounted for 72% of total net bookings, while the back-catalog remained a primary driver, representing 58% of total net bookings for the third consecutive year.

Ubisoft Full-Year 2020-21 Earnings Results

Ubisoft’s fiscal year 2020-21 earnings results demonstrate a period of record-breaking financial performance, characterized by significant growth in net bookings and operating income.

Ubisoft Third-Quarter 2020-21 Sales

Ubisoft achieved record financial performance during the third quarter of the 2020-21 fiscal year, driven by high-quality game launches and a robust back-catalog.

• Ubisoft recorded €1,001.0 million in net bookings for Q3 2020-21, contributing to a 57.2% year-over-year increase for the first nine months of the fiscal year, totaling €1,755.7 million.
• Digital net bookings accounted for 70.8% of total revenue over the nine-month period, while the back-catalog contributed 58.1%, highlighting a significant shift toward recurring revenue streams.
• Assassin’s Creed Valhalla achieved record revenue for the franchise, and Tom Clancy’s Rainbow Six Siege surpassed 70 million registered players, driving record engagement levels.