Q1 performance in line with expectations
Back-catalog up double-digit vs. Q1 2019-20
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Net bookings of €326.0 million, slightly ahead of target of around €320.0 million
In €m Q1 2021-22 | Reported change vs. Q1 2020-21 | Reported change vs. Q1 2019-20 | % of total net bookings | ||
Q1 2021-22 | Q1 2020-21 | ||||
IFRS 15 sales | 352.8 | -17.4% | -2.9% | NA | NA |
Net bookings | 326.0 | -20.5% | +3.8% | NA | NA |
Digital net bookings | 279.4 | -21.4% | -4.4% | 85.7% | 86.7% |
PRI net bookings | 173.5 | -12.5% | +15.5% | 53.2% | 48.4% |
Back-catalog net bookings | 306.8 | -21.9% | +13.9% | 94.1% | 95.8% |
2021-22 targets confirmed
Building quality and depth in
- Expanding premium offering over the coming years
a) Ambitious plans for biggest existing franchises, including:
- Promising content for Assassin’s Creed® over the coming months and years, including a powerful post-launch plan for Valhalla in Year 1 and 2
- Far Cry® 6 to build on the franchise’s great momentum
- Tom Clancy’s
Rainbow Six ® Extraction to broadenRainbow Six audience - Mario + Rabbids®: Sparks of Hope to leverage the first opus' success and massive Nintendo Switch installed base
- Revival of fan-favorite franchise with Beyond Good and Evil™ 2
b) New IP creation with a focus on long term player engagement
Riders Republic ™ and Skull & Bones™
c) Major entertainment brands to broaden portfolio
- Avatar: Frontiers of Pandora™ and Star Wars™ game
2. Expanding our brands’ universes and bringing them to a significantly wider audience through F2P on consoles, PC and mobile, including Tom Clancy’s The Division® Heartland, Tom Clancy’s The Division mobile, Tom Clancy’s XDefiant and a to-be-announced mobile game for Q4 2021-22
Approval in
Ubisoft ESG commitment rewarded by Sustainalytics recent ratings
Frédérick Duguet, Chief Financial Officer, said "2021-22 started as planned and we delivered double-digit back-catalog growth in Q1 versus Q1 2019-20, a normalized comparison period, thanks to the strength of our deep and diversified portfolio of games.”
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 | Q1 2021-22 | Q1 2020-21 | Q1 2019-20 | |
Sales (IFRS 15) | 352.8 | 427.3 | 363.4 | |
Deferred revenues related to IFRS 15 | (26,8) | (17.3) | (49.2) | |
Net bookings | 326.0 | 410.0 | 314.2 |
IFRS 15 sales for the first quarter of 2021-22 came to €352.8 million, down 17.4% (14.2% at constant exchange rates1) compared with the €427.3 million generated in first-quarter 2020-21 and down 2.9% (0.0% at constant exchange rates) compared with the €363.4 million generated in first-quarter 2019-20.
First-quarter 2021-22 net bookings totaled €326.0 million, slightly exceeding the target of around €320.0 million and down 20.5% (17.4% at constant exchange rates) on the €410.0 million figure for the first quarter of 2020-21 and up 3.8% (6.9% at constant exchange rates) on the €314.2 million figure for the first quarter of 2019-20.
Outlook
Second-quarter 2021-22
Net bookings for the second quarter of 2021-22 are expected to come in at around €340.0 million.
Full-year 2021-22
The Company confirms its targets for full-year 2021-22:
- Net bookings single-digit growth
- Non-IFRS operating income comprised between 420 M€ and 500 M€
Recent significant events:
Sustainalytics rewards Ubisoft’s ESG strategy: Sustainalytics, one of the world’s leading rating ESG agencies, has ranked the Group among the top 3% of companies in the Software & Services Industry, among the top 5% in the Entertainment Software Segment and among the top 6% of the 14,000+ companies covered in its 2021 report.
Ubisoft’s Commitment to Global Carbon Neutrality:
Steady support from Ubisoft’s shareholders at the Annual General Meeting held on
Three games approved in
Changes to release schedule of Tom Clancy’s
Expansion of the Tom Clancy’s universe with XDefiant, a free-to-play first-person shooter blending fast-paced 6v6 arena combat with faction-based abilities. It’s an accessible shooter, whether players want to have fun with their friends or play competitively.
Conference call
The conference call will take place in English and can be accessed live and via replay by clicking on the following link:
https://edge.media-server.com/mmc/p/2oe36rh6
Contacts
Investor Relations
SVP Investor Relations
+ 33 1 48 18 52 39
Jean-benoit.roquette@ubisoft.com
Senior Investor Relations Manager +33 1 48 18 50 78 Alexandre.enjalbert@ubisoft.com |
Press Relations
Senior Director of Corporate Public Relations
+ 33 1 48 18 24 03
Michael.burk@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 not been audited by the Statutory Auditors. (Additional information is provided in the most recent Ubisoft Registration Document filed on
About
© 2021
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
Q1 2021-22 | Q1 2020-21 | |
33% | 32% | |
50% | 52% | |
Rest of the world | 17% | 16% |
TOTAL | 100% | 100% |
Breakdown of net bookings by platform
Q1 2021-22 | Q1 2020-21 | ||
PLAYSTATION®4 & PLAYSTATION®5* | 30% | 34% | |
XBOX One™ & XBOX Series X/S™* | 19% | 19% | |
PC | 24% | 21% | |
NINTENDO SWITCH™ | 8% | 11% | |
MOBILE | 13% | 12% | |
Others** | 6% | 3% | |
TOTAL | 100% | 100% |
* Backwards compatibility allows users of new-generation consoles to continue playing games previously purchased on the older generation of consoles.
**Ancillaries, etc.
Title release schedule
2nd quarter (July – September 2021)
PACKAGED & DIGITAL | |||
RABBIDS® ADVENTURE PARTY ( | NINTENDO SWITCH™ |
DIGITAL ONLY | ||
ANNO® 1800: The High Life | PC | |
ASSASSIN’S CREED® VALHALLA: The Siege of | AMAZON LUNA, PC, PLAYSTATION®4, PLAYSTATION®5, STADIA, XBOX ONE, XBOX SERIES X/S | |
FOR HONOR®: Year 5 – Season 3 | PC, PLAYSTATION®4, XBOX ONE | |
ROCKSMITH™+ | PC | |
TOM CLANCY’S RAINBOW SIX®: Siege Year 6 – Season 3 | AMAZON LUNA, PC, PLAYSTATION®4, PLAYSTATION®5, STADIA, XBOX ONE, XBOX SERIES X/S | |
WATCH DOGS®: LEGION – Bloodline | AMAZON LUNA, PC, PLAYSTATION®4, PLAYSTATION®5, STADIA, XBOX ONE, XBOX SERIES X/S |
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 fiscal year.
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