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Should we see the glass as half full or half empty ? In any case, Ubisoft has published rather disappointing results for the first half of 2024. However, the company's leaders see some reasons for hope. Let's take stock.
A worrying drop in turnover
The French company has announced a 19.6% drop in turnover for the first half compared to 2023. It stands at €671.9 million. As for its reference indicator, net reservations, they amount to 642.3 million euros.
Ubisoft admits that its Star Wars Outlaws game has underperformed and is performing below expectations, despite “strong reviews and user scores on First Party and Epic Games Stores”.
In a statement, the company's co-founder and CEO, Yves Guillemot, rightly points out about this title:
To succeed, we must redouble our efforts on execution and reinforce a player-centric mindset in everything we do. For example, we're improving the quality of Star Wars Outlaws, including actively responding to player feedback through title updates as we prepare for the Steam launch, the first story pack, and the upcoming holiday season.
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Austerity cure at Ubisoft
The company also began a cost-cutting plan at the start of 2023, which had a severe social impact, leading to a reduction in its workforce of more than 2,000 people in two years. Ubisoft currently has 18,666 employees.
On this subject, the manager mentions ” strict control of recruitment, targeted restructuring and a reduction in external expenses.” He adds: ” During the first half of the year, we have already achieved more than 200 million euros in savings compared to two years ago on an annualized basis. There is still work to be done to support strong cash flow generation going forward. »
Highly lucrative sagas
Finally, and this is always interesting to know, Ubisoft revealed the profits recorded by its big franchises since their launch. Thus, Assassin’s Creed, whose new part is due out in February 2025, has brought in 4 billion euros in ten years. This is better than Rainbow Six and Far Cry which allowed it to pocket 3.5 and 2 billion euros. Finally, The Division, Ghost Recon and Just Dance each exceeded one billion euros in revenue.
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