The press release also includes the updated financial targets for both 19-20 and 20-21. Ubisoft projections for the current fiscal year have been cut from € 2,185 million of net bookings and €480 million of non-IFRS operating income to €1,450 million of net bookings and €20-50 million of non-IFRS operating income. That's due, as said before, to decreased revenue from Ghost Recon Breakpoint but also from The Division 2, though to a lesser extent.
On the upside, Ubisoft financial targets for fiscal year 20-21 have been revised upward to €2,600 million of net bookings and €600 million of non-IFRS operating income, thanks to the scheduled release of five AAA games (including the next Assassin's Creed, in all likelihood).
Ubisoft (EPA:UBI) seems to have hit a bit of a snag with the most recent releases, after a period of growth. Today's press release, shared just ahead of the full quarterly financial report, contains a lengthy statement from CEO and Co-Founder Yves Guillemot, who acknowledges the disappointing launch of Tom Clancy's Ghost Recon: Breakpoint.
Ubisoft Acknowledges Disappointing Ghost Recon: Breakpoint, Delays Rainbow Six: Quarantine, Watch_Dogs Legion and Gods & Monsters
Ubisoft acknowledged the disappointing Ghost Recon Breakpoint. The company has delayed RS: Quarantine, Watch_Dogs Legion and Gods & Monsters.
With the first The Division game, Ubisoft managed to hit its niche as it offered (kind of) the same gameplay
I'm actually in the camp that partially thinks this is good, also to note they are upping some of their 2020-2021 guidance on the upside.... so not all bad news.
Postponing some games, see below.
In this overall context, we have decided to postpone the releases of Gods & Monsters, Rainbow Six Quarantine and Watch_Dogs Legion until 2020-21.