French video game publisher Ubisoft announced on Wednesday a 20.5% decrease in net bookings for its latest fiscal year, citing lower-than-expected partnership deals due to scheduling issues.
The maker of popular franchises such as Assassin's Creed and Rabbids reported net bookings of €1.85 billion for the year ending in March, slightly below its forecast of around €1.9 billion.
Ubisoft stated in a press release, "We plan to announce a new organizational structure by the end of the year, aiming to better meet player expectations, ensure higher game quality, and maintain disciplined capital allocation."
Looking ahead to fiscal year 2025-2026, the company expects net bookings to remain stable year-on-year, with a non-IFRS operating result close to breakeven and negative free cash flow "reflecting the Group's transformation," according to the statement.
"Ubisoft faced challenges this year, with mixed dynamics across our portfolio in a highly competitive industry landscape," said Yves Guillemot, co-founder and CEO of the group.
"Despite these difficulties, Ubisoft managed to generate positive free cash flow for the year, reflecting the discipline implemented throughout the Group," he added.
(Written by Mara Vîlcu, with Adrianna Ebert, edited by Kate Entringer)
