Ubisoft becomes profitable again in 2023-2024

Ubisoft becomes profitable again in 2023-2024
Ubisoft becomes profitable again in 2023-2024

Paris (awp/afp) – The French video game publisher Ubisoft, which had fallen into the red in 2022-2023 due to the postponement of the release of several big games, announced on Wednesday that it had become profitable again at the end of the financial year 2023-2024, thanks in particular to a “record” 4th quarter.

After an annual net loss of 494.2 million euros last year, Ubisoft recorded a group share net profit of 157.8 million euros in 2023-2024, it said in a press release.

Over this financial year, Ubisoft’s turnover jumped 26.8% year-on-year in published data, to 2.3 billion euros.

The company’s preferred indicator, “net bookings”, i.e. sales excluding deferred income, are up 33.5%, to 2.32 billion euros.

Strengthened in particular by the release of two major games, the latest opus of the franchise “Prince of Persia” and “Skull and Bones”, Ubisoft saw its turnover more than double in the 4th quarter, to 858.4 million euros. euros (compared to 310.7 million euros over the same period of the previous financial year).

Ubisoft estimates that it also benefited during this quarter from the “outperformance of the back-catalogue” (i.e. video games launched before the quarter in question), such as “Assassin’s Creed Mirage”, the 13th game in the series released last October, or “Rainbow Six Siege”.

“The results for the 2023-24 financial year confirm that Ubisoft is once again on the path to profitable growth, posting record annual and quarterly net bookings+ (…) This financial year marks a crucial first step in our recovery , with solid performances and the first fruits of our transformation towards a more balanced and recurring business model”, commented Yves Guillemot, CEO of Ubisoft, quoted in this press release.

The 2024-2025 financial year should see the launch of two major games which will be highly scrutinized: “Star Wars Outlaws”, derived from the famous film series, scheduled for the end of August, and “Assassin’s Creed Shadows”, which will transport the famous franchise in feudal Japan.

Regarding its cost reduction plan, Ubisoft announced that it had made “around 150 million euros” in savings over one year, while the objective is to reach 200 million euros “by 2025-26” .

Concerning the group’s workforce, the total number of employees worldwide stood at 19,011 at the end of March, a drop of more than 1,700 people in 18 months.

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