Ubisoft is still bad and bad and the end of its fiscal year showed negative results that are nothing more than the consequence of the mistakes made in recent years. The French company is in crisis and its perspective for the future is less ambitious than in other eras of gaming.
Ubisoft falls apart
The French video game company Ubisoft, once the largest in Europe, presented its financial report for the fiscal year that for them ended in March 2023, as well as details about the last quarter of this period (via Gamesindustry.biz). . Regarding the annual balance, Ubisoft reports a 15% drop in sales, 18% less net reserves and losses of $538 million.
However, the critical data stands out in the last quarter of the fiscal year, from January to March 2023, as sales collapsed by more than half, registering 56% less, which led to a drop in net reserves of 53%.
Video: Ubisoft on fire
Ubisoft confirms a fiscal year to forget and the future in the short term does not promise
According to the information, Ubisoft only confirmed what it had already anticipated to investors. At the beginning of 2023, the French company made its forecast of a general fall of +10% official, the actual result was 18%. In this regard, Yves Guillemot, director of Ubisoft, highlighted the actions they have taken to deal with this crisis: “although last year was a challenge for the industry and for Ubisoft, it was fundamental for the company as we reinforced our strategic focus on our biggest opportunities, we initiated a significant cost reduction plan and provided additional development time for our strong portfolio of content.”
Finally, Ubisoft highlighted the record number of users of Assassin’s Creed and Rainbow Six but warned that finances will continue to decline in the short term.
Follow here, at LEVEL UP.
Video: Assassin’s Creed won’t save Ubisoft
Editorial: Gaming / Facebook / Twitter / YouTube / Instagram / News / Discord /Telegram / Google News