Latest news with #Guillemot
Yahoo
14-05-2025
- Business
- Yahoo
'Assassin's Creed' no saviour for struggling Ubisoft
A bumper release for the latest "Assassin's Creed" instalment did not save French video games giant Ubisoft from falling back into the red in its 2024-25 financial year, the company said on Wednesday. The company had won through to profitability in 2023-24 after a near half-billion-euro loss in the previous period. But a string of disappointing releases undermined this year's performance, with a net loss of 159 million euros ($178 million) on revenues of 1.9 billion -- down 17.5 percent year-on-year. Over the past 12 months, Ubisoft's would-be blockbuster "Star Wars Outlaws" fell short of sales expectations on release, while it cancelled multiplayer first-person shooter "XDefiant" for lack of players. "This year has been a challenging one for Ubisoft, with mixed dynamics across our portfolio, amid intense industry competition," chief executive Yves Guillemot said in a statement. Ubisoft's preferred performance indicator, so-called "net bookings" -- which excludes some deferred revenues -- also fell by more than 20 percent year-on-year, to 1.8 billion euros. The group expects the measure to hold steady in the coming 2025-26 financial year, during which it will release a new "Prince of Persia" game, strategy title "Anno 117: Pax Romana" and mobile versions of shooters "Rainbow Six" and "The Division". Disappointing shipments have been matched by a tumbling stock price. But in recent weeks the publisher's biggest money-spinner has been as dependable as ever, with "Assassin's Creed Shadows" winning over more than three million players with its story of medieval Japanese intrigue since its March 20 release. "Shadows" swiftly rose to become the second-best-selling game of the year so far in the United States, according to data from consultancy Circana. - Spin-off - Moving to address its business woes, Ubisoft said in late March that it would create a new subsidiary to manage its three top franchises: "Assassin's Creed", "Far Cry" and "Rainbow Six". Around 3,000 of the group's 17,000 employees worldwide will work in the new unit, Guillemot has said. It will not own the games' brands, instead paying royalties to the parent company to use them. The subsidiary has been valued at more than four billion euros, or twice Ubisoft's current market capitalisation, after Chinese tech giant Tencent agreed to invest 1.16 billion in exchange for a stake of around 25 percent. Spinning off the biggest-selling games "was the least committal of the available options without simply returning to shareholders empty-handed," said Martin Szumski, an analyst at Morningstar, ahead of the earnings report. One activist fund with a minority stake in Ubisoft had tried to rally other investors to demand a change of course. Leaving investors "underwhelmed", according to Szumski, the subsidiary plan has not kept the mothership's stock from eroding further in value, hit in part by fears over US tariffs. Since January, the shares have lost more than 12 percent, touching their lowest price in over a decade in April. Ubisoft has promised details of more restructuring moves by the end of 2025 and aims to save a further 100 million euros over the coming two years as part of a cost-cutting drive launched in 2023. The company on Wednesday also reported net debt of 885 million euros, down from 1.4 billion in September. - Lurking tensions - Ubisoft's restructuring means Tencent, which climbed aboard as an investor in 2018, will have a bigger say in the French firm -- although Guillemot insisted to French senators at a hearing last week that he will "retain control" over the new subsidiary. Looking ahead, "if Ubisoft is unable to use the money Tencent invested in a meaningful way, it is certainly possible that Tencent pursues buying the firm outright" even in the face of fierce resistance from the founding Guillemot brothers, Szumski suggested. Ubisoft's belt-tightening programme has brought closures of several foreign studios and thousands of job cuts. Worldwide, the company is replacing only one in three departing workers, Guillemot told the Senate. kf/tgb/sbk Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Int'l Business Times
14-05-2025
- Business
- Int'l Business Times
'Assassin's Creed' No Saviour For Struggling Ubisoft
A bumper release for the latest "Assassin's Creed" instalment did not save French video games giant Ubisoft from falling back into the red in its 2024-25 financial year, the company said on Wednesday. The company had won through to profitability in 2023-24 after a near half-billion-euro loss in the previous period. But a string of disappointing releases undermined this year's performance, with a net loss of 159 million euros ($178 million) on revenues of 1.9 billion -- down 17.5 percent year-on-year. Over the past 12 months, Ubisoft's would-be blockbuster "Star Wars Outlaws" fell short of sales expectations on release, while it cancelled multiplayer first-person shooter "XDefiant" for lack of players. "This year has been a challenging one for Ubisoft, with mixed dynamics across our portfolio, amid intense industry competition," chief executive Yves Guillemot said in a statement. Ubisoft's preferred performance indicator, so-called "net bookings" -- which excludes some deferred revenues -- also fell by more than 20 percent year-on-year, to 1.8 billion euros. The group expects the measure to hold steady in the coming 2025-26 financial year, during which it will release a new "Prince of Persia" game, strategy title "Anno 117: Pax Romana" and mobile versions of shooters "Rainbow Six" and "The Division". Disappointing shipments have been matched by a tumbling stock price. But in recent weeks the publisher's biggest money-spinner has been as dependable as ever, with "Assassin's Creed Shadows" winning over more than three million players with its story of medieval Japanese intrigue since its March 20 release. "Shadows" swiftly rose to become the second-best-selling game of the year so far in the United States, according to data from consultancy Circana. Moving to address its business woes, Ubisoft said in late March that it would create a new subsidiary to manage its three top franchises: "Assassin's Creed", "Far Cry" and "Rainbow Six". Around 3,000 of the group's 17,000 employees worldwide will work in the new unit, Guillemot has said. It will not own the games' brands, instead paying royalties to the parent company to use them. The subsidiary has been valued at more than four billion euros, or twice Ubisoft's current market capitalisation, after Chinese tech giant Tencent agreed to invest 1.16 billion in exchange for a stake of around 25 percent. Spinning off the biggest-selling games "was the least committal of the available options without simply returning to shareholders empty-handed," said Martin Szumski, an analyst at Morningstar, ahead of the earnings report. One activist fund with a minority stake in Ubisoft had tried to rally other investors to demand a change of course. Leaving investors "underwhelmed", according to Szumski, the subsidiary plan has not kept the mothership's stock from eroding further in value, hit in part by fears over US tariffs. Since January, the shares have lost more than 12 percent, touching their lowest price in over a decade in April. Ubisoft has promised details of more restructuring moves by the end of 2025 and aims to save a further 100 million euros over the coming two years as part of a cost-cutting drive launched in 2023. The company on Wednesday also reported net debt of 885 million euros, down from 1.4 billion in September. Ubisoft's restructuring means Tencent, which climbed aboard as an investor in 2018, will have a bigger say in the French firm -- although Guillemot insisted to French senators at a hearing last week that he will "retain control" over the new subsidiary. Looking ahead, "if Ubisoft is unable to use the money Tencent invested in a meaningful way, it is certainly possible that Tencent pursues buying the firm outright" even in the face of fierce resistance from the founding Guillemot brothers, Szumski suggested. Ubisoft's belt-tightening programme has brought closures of several foreign studios and thousands of job cuts. Worldwide, the company is replacing only one in three departing workers, Guillemot told the Senate.
France 24
14-05-2025
- Business
- France 24
'Assassin's Creed' no saviour for struggling Ubisoft
The company had won through to profitability in 2023-24 after a near half-billion-euro loss in the previous period. But a string of disappointing releases undermined this year's performance, with a net loss of 159 million euros ($178 million) on revenues of 1.9 billion -- down 17.5 percent year-on-year. Over the past 12 months, Ubisoft's would-be blockbuster "Star Wars Outlaws" fell short of sales expectations on release, while it cancelled multiplayer first-person shooter "XDefiant" for lack of players. "This year has been a challenging one for Ubisoft, with mixed dynamics across our portfolio, amid intense industry competition," chief executive Yves Guillemot said in a statement. Ubisoft's preferred performance indicator, so-called "net bookings" -- which excludes some deferred revenues -- also fell by more than 20 percent year-on-year, to 1.8 billion euros. The group expects the measure to hold steady in the coming 2025-26 financial year, during which it will release a new "Prince of Persia" game, strategy title "Anno 117: Pax Romana" and mobile versions of shooters "Rainbow Six" and "The Division". Disappointing shipments have been matched by a tumbling stock price. But in recent weeks the publisher's biggest money-spinner has been as dependable as ever, with "Assassin's Creed Shadows" winning over more than three million players with its story of medieval Japanese intrigue since its March 20 release. "Shadows" swiftly rose to become the second-best-selling game of the year so far in the United States, according to data from consultancy Circana. Spin-off Moving to address its business woes, Ubisoft said in late March that it would create a new subsidiary to manage its three top franchises: "Assassin's Creed", "Far Cry" and "Rainbow Six". Around 3,000 of the group's 17,000 employees worldwide will work in the new unit, Guillemot has said. It will not own the games' brands, instead paying royalties to the parent company to use them. The subsidiary has been valued at more than four billion euros, or twice Ubisoft's current market capitalisation, after Chinese tech giant Tencent agreed to invest 1.16 billion in exchange for a stake of around 25 percent. Spinning off the biggest-selling games "was the least committal of the available options without simply returning to shareholders empty-handed," said Martin Szumski, an analyst at Morningstar, ahead of the earnings report. One activist fund with a minority stake in Ubisoft had tried to rally other investors to demand a change of course. Leaving investors "underwhelmed", according to Szumski, the subsidiary plan has not kept the mothership's stock from eroding further in value, hit in part by fears over US tariffs. Since January, the shares have lost more than 12 percent, touching their lowest price in over a decade in April. Ubisoft has promised details of more restructuring moves by the end of 2025 and aims to save a further 100 million euros over the coming two years as part of a cost-cutting drive launched in 2023. The company on Wednesday also reported net debt of 885 million euros, down from 1.4 billion in September. Lurking tensions Ubisoft's restructuring means Tencent, which climbed aboard as an investor in 2018, will have a bigger say in the French firm -- although Guillemot insisted to French senators at a hearing last week that he will "retain control" over the new subsidiary. Looking ahead, "if Ubisoft is unable to use the money Tencent invested in a meaningful way, it is certainly possible that Tencent pursues buying the firm outright" even in the face of fierce resistance from the founding Guillemot brothers, Szumski suggested. Ubisoft's belt-tightening programme has brought closures of several foreign studios and thousands of job cuts.
Yahoo
14-05-2025
- Business
- Yahoo
France's Ubisoft full-year net bookings fall 20.5%
(Reuters) -France's largest video game maker Ubisoft on Wednesday posted a 20.5% fall in full-year net bookings as the company has faced issues with delayed releases and the underperformance of some of its leading titles. The maker of the blockbuster franchise "Assassin's Creed" reported net bookings of 1.85 billion euros ($2.07 billion) for the year to March 31, slightly below its guidance of around 1.9 billion euros. Ubisoft plans to announce a new overall group organisation by the end of the year, with the objective to best serve player needs, deliver superior game quality and drive disciplined capital allocation, it said in a statement. It expects full-year 2025-2026 stable net bookings year-on-year and roughly break-even non-IFRS operating income. Net bookings for the first quarter are forecast at 310 million euros. Ubisoft also expects to return to positive non-IFRS operating income and free cash flow generation in 2026-2027, it said. "After a review of our pipeline, we have decided to provide additional development time to some of our biggest productions to create the best conditions for success," CEO Yves Guillemot said in the statement. As a result, he said, the next two years would see "significant content coming from our largest brands." In March, the company faced a make-or-break moment with the launch of the newest instalment in "Assassin's Creed" franchise as the company grappled with falling revenue, a sinking stock price and takeover speculation. "Aware of the challenges ahead, we took decisive steps to continue strengthening the company's future. The launch of "Assassin's Creed Shadows" was a defining moment," Guillemot said. The release had reaffirmed the power of the brand, he added, and had received a "highly favourable community response". Ubisoft said that the game delivered the second-highest Day 1 sales revenue in franchise history and set a new record for Ubisoft's Day 1 performance on the PlayStation digital store. ($1 = 0.8920 euros) Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
The Herald Scotland
30-04-2025
- Politics
- The Herald Scotland
Nature charities call for proposed offshore windfarm to be refused
RSPB Scotland has joined forces with the Marine Conservation Society, National Trust for Scotland, Scottish Seabird Centre and Scottish Wildlife Trust to urge Scottish ministers to refuse Berwick Bank "to protect wildlife and progress less damaging offshore projects". The charities say new offshore wind developments are currently being held back due to their combined impacts with Berwick Bank on Scotland's globally important seabird populations. It comes as seabirds already face serious challenges, from Avian Flu to unsustainable fishing practices. Around 70% of seabird species are in decline in Scotland, including much-loved Puffins which face national and global extinction, according to RSPB Scotland. READ MORE: Scottish Seabird Centre objects to 'highly damaging' Berwick Bank plan Community anger as bid for 'groundbreaking' windfarm project rejected Work to start at major new Scottish wind farm as key contractors hired Anne McCall, director of RSPB Scotland, said: 'Offshore wind has a key role in tackling the climate and nature emergency. We fully support well-sited wind farms which work with nature. But they are being held back by a major spanner in the works. 'Berwick Bank would be catastrophic for Scotland's globally important seabirds. Its impacts are so damaging it is blocking plans for new, less-harmful windfarms. 'As the First Minister said earlier this year: nature should be at the heart of climate action. Our message to the Scottish Government is clear. Refuse Berwick Bank to unlock the full potential of offshore wind while protecting our outstanding wildlife.' Diarmid Hearns, interim director of conservation and policy at The National Trust for Scotland, said: 'The National Trust for Scotland cares for St Abb's Head National Nature Reserve, which is home to approximately 45,000 seabirds during breeding season, including protected Kittiwake, Guillemot, Razorbill and Shag species. 'Climate change is one of the biggest threats to seabirds and offshore wind development is important to meet Scotland's climate ambitions, therefore we are fully supportive of it. However, installations must be located with sensitivity to the very habitats we're trying to protect from climate impacts- the proposed site for Berwick Bank is likely to cause high levels of ecological damage and severely impact the seabird colonies at St Abb's Head. Bass Rock is home to the world's largest colony of Northern gannets. 'We urge Ministers to reject the proposal for Berwick Bank and instead focus on advancing proposals in more appropriate locations.' Harry Huyton, CEO at Scottish Seabird Centre, said: 'The Firth of Forth is home to globally important seabird populations, including the world's largest colony of Gannets on Bass Rock. 'Most of Scotland's seabird species are already in decline, and Berwick Bank threatens to undermine attempts to restore populations by killing and displacing tens of thousands of seabirds. It is simply the wrong place for an offshore wind farm. 'We want to see a strong and vibrant offshore wind industry in Scotland, which avoids developing sensitive sites for wildlife and actively contributes to nature conservation. Ministers must urgently act for nature and the future of offshore wind by refusing consent to Berwick Bank.' Jo Pike, chief executive at Scottish Wildlife Trust, said: "Renewable energy developments will be a key component in tackling the climate emergency, but this must be done in a way that also protects nature. 'Scotland's seas are facing the twin nature and climate crises and developments must therefore be strategically placed to avoid damaging already vulnerable species and habitats. 'Refusing consent to Berwick Bank in favour of developments in less sensitive areas would allow for progress towards Net Zero commitments at pace, whilst mitigating the impacts to nature.'
