Ubisoft Reports 52% Decline in Net Bookings as Key Titles Underperform

Financial Results

In the third quarter ending December 31, Ubisoft's net bookings plummeted by 52% year-over-year to €301.8 million ($314.69 million), meeting revised guidance. Despite the decline, Ubisoft maintained its financial targets, projecting €1.9 billion net bookings and break-even non-IFRS operating income and free cash flow for FY2024-25.

Fourth Quarter Outlook

The company anticipates growth in net bookings for the fourth quarter, primarily driven by the release of "Assassin's Creed Shadows." Pre-orders for the game are performing strongly, similar to "Assassin's Creed Odyssey," which was the franchise's second most successful title.

New "Assassin's Creed" Title

"Assassin's Creed Shadows" is an action-adventure game set in feudal Japan. CEO Yves Guillemot praised early previews, highlighting the immersive narrative, compelling characters, and innovative dual protagonist gameplay.

Cost Reduction and Strategic Review

Ubisoft aims to surpass €200 million in fixed cost reductions by FY2024-25, ahead of schedule. The company will continue these efforts through FY26.

Additionally, Ubisoft's review of strategic options remains ongoing, with an independent board committee overseeing the process to maximize value for stakeholders.