Ubisoft confirms targets after strong Assassin's Creed bookings
FILE PHOTO: UbiSoft Entertainment logo is seen at the Paris Games Week (PGW), a trade fair for video games in Paris, France, October 27, 2024. REUTERS/Sarah Meyssonnier/File Photo
(Corrects Assassin's Creed name in headline)
By Leo Marchandon
Feb 12 - French video game publisher Ubisoft confirmed its full-year financial targets on Thursday after third-quarter bookings exceeded company forecasts, driven by its flagship "Assassin's Creed" franchise.
Net bookings for the quarter reached 338 million euros ($402 million), up 12 per cent year-on-year and above the 305 million euro guidance the company issued in November.
Ubisoft maintained its forecast for full-year bookings of around 1.5 billion euros and an operating loss of roughly 1 billion euros.
Ubisoft's shares have fallen more than 80 per cent from their 2018 peak as the company grappled with game delays, weak execution, and investor concerns over its ability to return to profitability.
The guidance was initially announced in January when Ubisoft unveiled a reorganization that included cancelling six games and closing studios in Halifax, Canada, and Stockholm. The company had originally projected 1.9 billion euros in bookings before the January overhaul, which split operations into five genre-focused divisions called "Creative Houses."
The appointment of Creative House leadership will start in March and include external hires of industry veterans, Ubisoft said.
Ubisoft, also behind the "Far Cry" franchise, said its brands attracted around 130 million unique active users across consoles and PC in 2025. The third quarter's outperformance was driven by solid performance from "Assassin's Creed Shadows," which launched on Nintendo's Switch 2 in December.
Ubisoft said it expects cash reserves of between 1.25 billion and 1.35 billion euros by end-March, sufficient to cover a bond maturity of just under 500 million euros due in November 2027.
Chief Financial Officer Frederick Duguet said in a call the company is "looking at several options" to extend the average maturity of its debt beyond that date. The company's total debt stood at 1.15 billion euros at end-September.
($1 = 0.8412 euros)
