Today Ubisoft announced its financial results for the third quarter of the fiscal year 2024-2025, including the period between October and December 2024.
Thanks to the press release, we learn that net bookings for the quarter (basically revenue) were €301.8 million, in line with Ubisoft’s revised expectations. They were down a whopping 51.8% year-on-year.
For the first nine months of the fiscal year, they were down 34.8% year-on-year.
The target for the full fiscal year remains €1.9 billion in net bookings and for the company to roughly break even in terms of income.
Ubisoft also reveals that its operation to reduce fixed costs will exceed €200 million by the end of the fiscal year compared to the previous fiscal year. This is ahead of schedule due in part to “the closure of four production studios in high-cost geographies and targeted restructurings at three other sites,” which certainly isn’t something to boast about, but executives will.
The strategic review announced in January is currently ongoing.
Interestingly, we learn that pre-orders for Assassin’s Creed Shadows are “tracking solidly” in line with Assassin’s Creed Odyssey, which is the second most successful entry of the franchise.
We also get a comment from CEO Yves Guillemot, who mentions positive previews for Assassin’s Creed Shadows and the company’s “cost reduction” efforts.
“We are fully focused on the upcoming launch of Assassin’s Creed Shadows on March 20. Early reviews have been positive, praising its narrative and immersive experience, with both characters playing critical roles in the game’s storyline, as well as the quality and complementarity of the gameplay provided by the dual protagonist approach. I want to commend the incredible talent and dedication of the entire Assassin’s Creed’s team, who is working tirelessly to ensure that Shadows delivers on the promise of what is the franchise’s most ambitious entry yet.
In parallel, we are progressing well on our cost reduction program. As a result of disciplined execution, we have announced further targeted restructurings, making difficult but necessary choices, and now expect to exceed our cost reduction objective by the end of FY25, ahead of schedule. We plan to pursue our efforts in
FY26, going beyond the initial target by a significant margin.Finally, the formal review process of our strategic options announced earlier this year is now ongoing. Ultimately, the objective is to unlock the best value from our assets for our stakeholders and to foster the best conditions to create great games in a fast-evolving market. We are convinced there are different potential paths to achieve this ambition.”
We learn that monthly active users across consoles and PC were stable year-on-year at 36 million, while activity metrics have been “solid” with Playtime and Session Days per Player respectively up by 4% and 7% year-on-year.
Tom Clancy’s Rainbow Six Siege showcased a “resilient” performance in the quarter with activity stable in December. Session Days per Player in grew year-on-year in the latest quarter, while Year 9 Season 4 reception “was solid,” with the game achieving achieving the highest monthly ARPPU (Average Revenue per
Paying User) in its history in December.
According to Ubisoft the Assassin’s Creed brand is in “great shape” highlighted by strong performance for back catalog titles including the Steam release of Assassin’s Creed Mirage.
The Crew Motorfest continues to “significantly outperform” The Crew 2 in terms of player retention and monetization. It achieved its highest monthly player count ever in December.
If you’d like to compare with historical data, you can check out Ubisoft’s financial results from the previous quarter, announced in October.
Other gaming companies have also already announced their financial results this quarter, including Sony, Square Enix, Take-Two, Sega, Bandai Namco, Electronic Arts, Nintendo, Marvelous Entertainment, Koei Tecmo, Capcom, Microsoft, and Konami.
