Video game publisher Ubisoft has said it is exploring options to “maximise value creation”, as its net bookings slump and it delays the release of its next major title.
Ubisoft reported its net bookings last quarter declined by 52% year-over-year. The company also said Assassin’s Creed Shadows, the next entry in its popular Assassin’s Creed series, will be delayed by one month.
“We have taken decisive steps to reshape the Group in order to deliver best-in-class player experiences, enhance operational efficiency and maximise value creation,” said CEO Yves Guillemot.
“We also recently appointed leading advisors and are actively exploring various strategic and capitalistic options to unlock the full value potential of our assets. We are convinced that there are several potential paths to generate value from Ubisoft’s assets and franchises.”
Ubisoft’s titles include Just Dance, Prince of Persia, and Far Cry.
The company projects its net bookings last quarter will be around EU€300 million (A$498.6 million), well below its guidance of €380 million. According to Ubisoft, the decline is due to unexpectedly low holiday sales and the discontinuation of multiplayer shooter game XDefiant just eight months after release.
Ubisoft expects net bookings across the 2024-2025 financial year to be EU€1.9 billion. The company previously cut its full-year guidance to €1.95 billion in September.
The release of Assassin’s Creed Shadows was also deferred in September, pushing the game’s launch to 14 February. With Ubisoft’s statement today, the game’s release date will now be 20 March.
The video game publisher has reportedly been negotiating a buyout deal with Tencent, though as of December, Tencent had yet to agree. Tencent is Ubisoft’s second-largest shareholder, and owns other gaming studios like Riot Games.
“Ubisoft will inform the market in accordance with applicable regulations if and once a transaction materialises,” the company said today.
Ubisoft’s shares (EPA: UBI) have fallen by 45% over the past year. Its share price closed at EU€12.33, down from its previous close at €12.35. The company’s market capitalisation is €1.61 billion.
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