UBISOFT REPORTS THIRD-QUARTER 2022-23 SALES
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In €m 9 months 2022-23 | Reported change vs. 2021-22 | % of total net bookings | ||
9 months 2022-23 | 9 months 2021-22 | |||
IFRS 15 sales | 1,503.7 | +6.1% | - | - |
Net bookings | 1,426.3 | -2.6% | - | - |
Digital net bookings | 1,209.9 | +11.2% | 84.8% | 74.3% |
PRI net bookings | 841.7 | +57.1% | 59.0% | 36.6% |
Back-catalog net bookings | 754.8 | -19.4% | 52.9% | 64.0% |
- Third fiscal quarter: Net bookings of €726.9 million, in line with the revised target
- Tom Clancy’s
Rainbow Six Sie ge®: delivered more than 30% DARPU year-on-year progression during the quarter and double-digit PRI growth over the first nine months
- Tom Clancy’s
- Assassin’s Creed® brand: active players up 30% over the first nine months, reaching new engagement records
2022-23 and 2023-24 targets confirmed
2023-24 line-up: new releases across big brands with Assassin's Creed® Mirage, Avatar: Frontiers of Pandora™, Tom Clancy’s
As we are focused on building on our strengths, we are prioritizing our efforts on big brands and long-lasting Live games. While the macro environment impacted the video game market and our Q3 results, our established franchises and Live games have performed solidly. In an intensely competitive environment for shooter games, Rainbow Six Siege has performed remarkably well. This momentum, seven years after the game’s release, is promising as we look to launch Rainbow Six Mobile next fiscal year. The Assassin’s Creed franchise reached new player engagement records over the past quarter, and we are excited to bring Assassin’s
Frédérick Duguet, Chief Financial Officer, said “Fueling our expectations for strong revenue growth, next fiscal year will see the release of a meaningful line-up, including new titles within the Assassin’s Creed, Avatar,
Q3 Game Highlights
In a very competitive backdrop, Tom Clancy’s Rainbow Six Siege posted a very strong performance in December and January, following the release of Operation Solar Raid, the last season of Year 7. It resonated very well with the community, reflecting the excellent work from our teams at Ubisoft Montreal and at the associate studios, building on the game’s positive momentum since Q1 2022-23 which has led the games’ PRI to grow double-digit on a 9-month basis. As a result, December posted another record month for DARPU, which grew more than 30% year-on-year during the quarter, and engagement is back to double-digit year-on-year growth since the beginning of calendar year 2023. At the end of the ongoing esports Six Invitational event, the team will unveil the new season of Rainbow Six Siege as well as an amazing year of content. Leveraging this current success and strong engagement, we will release Tom Clancy’s Rainbow Six Mobile next fiscal year as we look to bring the brand to a significantly wider audience.
Mario + Rabbids: Sparks of Hope, led by Ubisoft Paris and Ubisoft Milan, was awarded the best Simulation/Strategy game at the Game Awards 2022. Thanks to positive player reception, upcoming high-quality post-launch content and word of mouth, we expect the game to be a long-term seller.
Game Pipeline Highlights
The reveal of The Crew Motorfest, developed by the seasoned car racing and Live Services team at
The Tom Clancy’s The Division® franchise is getting ready for a big year. With its 4th anniversary on the horizon, Tom Clancy’s The Division® 2 will keep improving the player experience and receive new updates, including a full year of fresh new seasonal content to keep new and veteran players engaged. Next fiscal year we will also be launching Tom Clancy’s The Division Resurgence, the first high-end
XDefiant, from our Ubisoft San-Francisco studio, is Ubisoft’s upcoming Free-to-Play fast paced arena shooter for consoles and PC. In
Organization Highlights
Boosting Predictability Across our Brands
Over the past five years, through three fan favorite, highly successful and profitable titles (Assassin’s Creed® Origins, Assassin’s Creed® Odyssey and Assassin’s Creed®
Reinforcing our Commitment to Social Experience
The Group appointed
A Continued Commitment to Diversity & Inclusion
As part of Ubisoft’s ongoing efforts to foster inclusion both in its workplace and among its communities, the company has embarked on a three-year plan to advance inclusion for LGBTQIA+ team members worldwide, which kicked off with the signature of the Autre Cercle Charter. The first video game company to sign this Charter,
Note
The Group presents indicators which are not prepared strictly in accordance with IFRS as it considers that they are the best reflection of its operating and financial performance. The definitions of the non-IFRS indicators are appended to this press release.
Sales and net bookings
In € millions | Q3 | 9 months | ||
2022-23 | 2021-22 | 2022-23 | 2021-22 | |
IFRS 15 sales | 772.5 | 665.9 | 1,503.7 | 1,417.2 |
Deferred revenues related to IFRS 15 | 45.6 | 80.2 | 77.3 | 47.1 |
Net bookings | 726.9 | 746.1 | 1,426.3 | 1,464.3 |
Digital net bookings | 568.4 | 530.2 | 1,209.9 | 1,087.6 |
PRI net bookings | 419.3 | 187.1 | 841.7 | 535.7 |
Back-catalog net bookings | 249.4 | 340.8 | 754.8 | 937.0 |
IFRS 15 sales for the third quarter of 2022-23 came to €772.5 million, up 16.0% (12.8% at constant exchange rates1).
For the first nine months of 2022-23, IFRS 15 sales amounted to €1,503.7 million, up 6.1% (2.3% at constant exchange rates).
Net bookings for third-quarter 2022-23 totaled €726.9 million, in line with the Group’s revised target of around 725.0 million and representing a decrease of 2.6% (-5.4% at constant exchange rates).
For the first nine months of 2022-23, net bookings stood at €1,426.3 million, down 2.6%
(-6.2% at constant exchange rates).
Outlook
Full-year 2022-23
The company confirms its financial targets of full year net bookings down more than 10% year-on-year and full year non-IFRS operating income of approximately -€500m.
Full-year 2023-24
The Company confirms it expects a strong topline growth and a non-IFRS operating income target of approximately €400 million.
Conference call
The conference call can be accessed live and via replay by clicking on the following link:
https://edge.media-server.com/mmc/p/3qsf57od
Contacts
Investor Relations
SVP Investor Relations
+ 33 1 48 18 52 39
jean-benoit.roquette@ubisoft.com
Press Relations
Fabien Darrigues
Director of
fabien.darrigues@ubisoft.com
Senior Investor Relations Manager + 33 1 48 18 50 78 alexandre.enjalbert@ubisoft.com |
Disclaimer
This press release may contain estimated financial data, information on future projects and transactions and future financial results/performance. Such forward-looking data are provided for information purposes only. They are subject to market risks and uncertainties and may vary significantly compared with the actual results that will be published. The estimated financial data have been approved by the Board of Directors, and have not been audited by the Statutory Auditors. (Additional information is provided in the most recent Ubisoft Registration Document filed on
About
© 2023
APPENDICES
Definition of non-IFRS financial indicators
Net bookings corresponds to sales restated for the services component and including unconditional amounts related to
license or distribution agreements recognized independently of the achievement of performance obligations.
Non-IFRS operating income calculated based on net bookings corresponds to operating income less the following items:
- Stock-based compensation expense arising on free share plans, group savings plans and/or stock options.
- Depreciation of acquired intangible assets with indefinite useful lives.
- Non-operating income and expenses resulting from restructuring operations within the Group.
Breakdown of net bookings by geographic region
Q3 2022-23 | Q3 2021-22 | 9 months 2022-23 | 9 months 2021-22 | |
31% | 39% | 30% | 35% | |
Northern America | 53% | 48% | 52% | 49% |
Rest of the world | 16% | 13% | 18% | 16% |
TOTAL | 100% | 100% | 100% | 100% |
Breakdown of net bookings by platform
Q3 2022-23 | Q3 2021-22 | 9 months 2022-23 | 9 months 2021-22 | |
CONSOLES | 36% | 59% | 39% | 60% |
PC | 11% | 29% | 16% | 25% |
MOBILE | 43% | 7% | 35% | 9% |
Others* | 10% | 5% | 10% | 6% |
TOTAL | 100% | 100% | 100% | 100% |
*Ancillaries, etc.
Title release schedule
4th quarter (January – March 2023)
PACKAGED & DIGITAL | ||||||
ANNO 1800 CONSOLES | PLAYSTATION®5, XBOX SERIES X/S | |||||
ODDBALLERS | PC, PLAYSTATION®4, XBOX ONE NINTENDO SWITCH™ | |||||
DIGITAL ONLY | ||
FOR HONOR®: Year 7 – Season 1 | PC, PLAYSTATION®4, XBOX ONE | |
MARIO + RABBIDS™: SPARKS OF HOPE DLC1 | NINTENDO SWITCH™ | |
RIDERS REPUBLIC™: Season 6 – Cutting Edge | AMAZON LUNA, PC, PLAYSTATION®4, PLAYSTATION®5, XBOX ONE, XBOX SERIES X/S | |
TOM CLANCY’S RAINBOW SIX® SIEGE: Year 8 – Season 1 | AMAZON LUNA, PC, PLAYSTATION®4, PLAYSTATION®5, XBOX ONE, XBOX SERIES X/S | |
TOM CLANCY’S THE DIVISION® 2: Season 11 | AMAZON LUNA, PC, PLAYSTATION®4, XBOX ONE | |
THE CREW ® 2: Season 7 – Episode 2 / Season 8 – Episode 1 | AMAZON LUNA, PC, PLAYSTATION®4, PLAYSTATION®5, XBOX ONE, XBOX SERIES X/S | |
THE SETTLERS®: NEW ALLIES | AMAZON LUNA, PC, PLAYSTATION®4, XBOX ONE NINTENDO SWITCH™ | |
VALIANT HEARTS: COMING HOME | NETFLIX GAMES |
1 Sales at constant exchange rates are calculated by applying to the data for the period under review the average exchange rates used for the same period of the previous year.
Attachment
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