'Assassin's Creed' no saviour for struggling Ubisoft
The company had won through to profitability in 2023-24 after a near half-billion-euro loss in the previous period.
But a string of disappointing releases undermined this year's performance, with a net loss of 159 million euros ($178-million) on revenues of 1.9 billion -- down 17.5 percent year-on-year.
Over the past 12 months, Ubisoft's would-be blockbuster "Star Wars Outlaws" fell short of sales expectations on release, while it cancelled multiplayer first-person shooter "XDefiant" for lack of players.
"This year has been a challenging one for Ubisoft, with mixed dynamics across our portfolio, amid intense industry competition," chief executive Yves Guillemot said in a statement.
Ubisoft's preferred performance indicator, so-called "net bookings" -- which excludes some deferred revenues -- also fell by more than 20 percent year-on-year, to 1.8 billion euros.
The group expects the measure to hold steady in the coming 2025-26 financial year, during which it will release a new "Prince of Persia" game, strategy title "Anno 117: Pax Romana" and mobile versions of shooters "Rainbow Six" and "The Division".
Disappointing shipments have been matched by a tumbling stock price.
But in recent weeks the publisher's biggest money-spinner has been as dependable as ever, with "Assassin's Creed Shadows" winning over more than three million players with its story of medieval Japanese intrigue since its March 20 release.
"Shadows" swiftly rose to become the second-best-selling game of the year so far in the United States, according to data from consultancy Circana.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
IOL News
13 hours ago
- IOL News
Cognac maker Remy Cointreau lifts guidance after China deal
Louis XIII cognac in a decanter. Louis XIII cognac in a decanter. Image: File. French drinks group Remy Cointreau lifted Friday its outlook for the year after a deal between the EU and China on cognac imports, but now expects a stiffer impact from US levies and the strong euro. The group, which makes Remy Martin and Louis XIII cognac as well as Cointreau orange liqueur, now targets a mid-to-high-single-digits decline in adjusted operating profit for its 2025-2026 financial year, compared with the mid-to-high-teens decline previously forecasted. A major reason behind the improvement is the agreement earlier this month by European brandy exporters to raise prices in China to avoid anti-dumping duties, ending temporary measures that were costing French cognac makers 50 million euros per month. Remy Cointreau now expects a hit of 10 million euros ($11.8 million) from Chinese measures this year, as opposed to the 40 million euros previously. But the company raised its forecast for the impact of US tariffs to 35 million euros, from 25 million previously. The European Union is scrambling to secure a trade deal with the United States before August 1, when Washington has threatened to hike baseline tariffs from 10 to 30 percent. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Next Stay Close ✕ Ad loading The company maintained its forecast of a return to mid-single-digit sales growth stripping out currency changes for 2025-2026, but noted this was primarily due to a rebound from a low comparison base in the United States. Sales rose by 1.8 percent in the April to June quarter to 220.8 billion euros. The gain was 5.7 percent stripping out exchange rate fluctuations and other changes to the business. Quarterly sales in the United States rose from a low base, while they edged lower in Asia due to the Chinese levies and fell in Europe, the Middle East and Africa due to heightened competition and sluggish demand. The strong value of the euro -- it has climbed more than 13 percent against the dollar since the start of the year -- has been weighing upon the results of European companies when they convert foreign sales back into euros. Remy Cointreau said it now expects a negative currency effect impact on sales of between 50 and 60 million euros for its 2025-2026 financial year, up from its earlier estimate of 30 to 35 million euros. It also raised the currency effect impact on adjusted operating profit to between 15 and 20 million euros, compared to 10 to 15 million euros previously. Remy Cointreau's shares jumped around four percent as trading got underway in Paris, while the blue-chip CAC 40 index fell 0.7 percent. AFP
The Citizen
15 hours ago
- The Citizen
French car dealer charged over Takata airbag injury
After years of investigations into deadly Takata airbags, France has filed its first criminal charge against a dealership accused of negligence. A car dealer has been charged over failures that led to a driver being injured when a faulty Takata airbag sprayed him with metal fragments, a source said Friday, the first criminal charges in France in a massive recall scandal. A number of car models have been under a series of recall orders since 2014 in France over airbags produced by the Japanese company that are at risk of injuring or killing drivers when they deploy. Deaths and investigations At least 18 people in France are suspected to have been killed by faulty Takata airbags and in June the latest recall ordered 1.7 million vehicles off the road until replaced. A number of investigations were under way in France into suspicions of fraud and endangerment, but no charges had been publicly disclosed. However, a source told AFP an investigating magistrate in the French island of La Reunion in March charged a car dealership for failing to have warned a driver whose vehicle had been recalled and who was then subsequently injured. ALSO READ: Jaguar recalls E-Pace models over tearing airbags Dealership denies responsibility The dealership has denied responsibility, saying according to the source it did not have the contact information for clients of a separate dealership it had acquired. In France the filing of criminal charges does not mean the case will proceed to court. The car dealership's lawyer said he intends to show his client undertook reasonable efforts given that in 2020 the severity of the danger posed by the airbags wasn't known, and faulted the French state for not providing the contact information for the car owners. The Takata brand disappeared in 2018 following a bankruptcy in the wake of the airbag scandal, which has affected almost every major global automaker and led to millions of cars being recalled. NOW READ: These VW Polo Sedans and Tarmak basketball hoops are being recalled
IOL News
2 days ago
- IOL News
Eskom ordered to cough up R1 billion in costs after cancelled Koeberg project
Eskom loses court bid to fend off R1bn payment after cancelling a contract. Image: Supplied Eskom has been ordered to pay close to R1 billion to French nuclear contractor Framatome, after the Western Cape High Court found the utility refused to pay damages after it cancelled a contract to install steam generators at Koeberg nuclear power station. The ruling stems from a 2014 agreement Eskom originally concluded with Areva, which was later ceded to Framatome. The deal covered the design, manufacture and installation of six replacement steam generators – three for each unit at Koeberg. Framatome, which has been in operation for 60 years, was contracted to supply and install two sets of three replacement steam generators, one set to be installed in each of the reactor buildings at units 1 and 2 at Koeberg during separate planned outages of these units. These installations were meant to take place during a scheduled maintenance outage, which kept getting postponed. Two months after the outage was finally scheduled to happen, 'Eskom informed Framatome that it would not be continuing with the steam generator replacement,' the judgement said. As a result of the cancellation of the deal, Eskom's project manager 'acknowledged that Eskom's decision to postpone the work constituted a compensation event,' the judgment read. Although the project manager had acknowledged that Eskom's cancellation triggered compensation, he determined that the value of compensation was nil. The entire matter then went to arbitration, where the adjudicator ordered that Eskom must pay compensation for cancelling the contract, including for storing equipment, as well as implementation activities, which work had been wasted by Eskom delaying the date of the planned maintenance outage. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Next Stay Close ✕ After some back and forth between the parties and the adjudicator, during which the parties didn't agree on costs, 'Eskom made it clear that it had no intention of providing the adjudicator with any further information or participating any further in the adjudication process,' the ruling read. As a result, the adjudicator issued a determination of the damages amount, and Eskom decided to take the issue to the Western Cape High Court, arguing that the amount in damages was not determined by the date it was due – voiding his determination. In defending Eskom's legal action, Framatome argued that none of the arbitration proceedings were improper, nor was the adjudicator abusing his power. The Judge ruled that 'there is no basis to set aside the decisions of the adjudicator which are valid and binding. In terms of the parties' contract Eskom was obliged to comply therewith.' Eskom, it found, had to comply with its contractual obligations. The court found that Framatome was entitled to the full amount it sought. In addition to the R1bn payment, Eskom had to pay interest and costs. IOL
