The successful launch of the latest version of Assassin's Creed did not save French video game giant Ubisoft from losses in the 2024-2025 financial year, the company said.
Ubisoft reported a net loss of €159 million in a year in which it tried to respond to recent setbacks by capitalizing on major new releases and announcing the creation of a new subsidiary to manage its most popular titles.
The company is also working on a restructuring plan, which should be outlined by the end of 2025.
Revenue fell 17.5% year-on-year to €1.9 billion, Ubisoft said, as quoted by AFP.
"This year has been a difficult one for Ubisoft, with mixed dynamics across our portfolio amid intense competition in the sector," said CEO Yves Guillemot.
Over the past 12 months, Ubisoft's potential hit "Star Wars Outlaws" failed to meet sales expectations upon release, and the first-person multiplayer shooter "XDefiant" was canceled due to a lack of players.
But the reliable source of revenue Assassin's Creed attracted over 3 million users in the weeks following the release of the latest episode, Shadows, set in medieval Japan, at the end of March.
Ubisoft's preferred performance indicator, "net bookings" — which excludes some deferred revenue — also fell by over 20% year-on-year to €1.8 billion. | BGNES