UBISOFT REPORTS FIRST-QUARTER 2021-22 SALES
UBISOFT REPORTS
FIRST-QUARTER
2021-22
SALES
Q1 performance
in line with
expectationsBack-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
€mQ12021-22
|
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 Ubisoft’s
portfolio to the benefit of our
players, ultimately
leading to
significantly bigger audiences and
recurring revenues:
- 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
broaden Rainbow 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
China: The Division 2,
Mario +
Rabbids: Kingdom Battle and
Rabbids Party
Ubisoft ESG commitment rewarded
by Sustainalytics
recent ratings
Paris, July
20,
2021 – Today,
Ubisoft released its sales figures for the first quarter of fiscal
2021-22, i.e., the three months ended June 30, 2021.
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.”
Yves Guillemot, Co-Founder and Chief Executive
Officer, said "This quarter, we continued to invest in our biggest
brands and technologies with the goal of significantly expanding
audience reach and recurrence. With record viewership, our recent
Forward event offered an exciting glimpse at the extensive premium
content our teams are creating for the coming months and years. At
the same time, thanks to our free-to-play initiatives, we are
expanding our brands’ universes and bringing them to a
significantly wider audience as illustrated by yesterday’s reveal
of Tom Clancy’s XDefiant. Over the course of the quarter, we also
continued to implement important changes to our organization in
order to seize the industry’s biggest opportunities.”
Yves Guillemot concluded “The industry continues
to offer bright prospects. With our high-quality brands, technology
and exceptional teams, Ubisoft is ideally positioned over the
coming years to deliver double-digit topline growth as well as
continued profitability progression leading to a material rise in
operating income.”
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: Ubisoft announced its
medium-term goal to decarbonize by 2023 its direct operations to
reduce its emissions by 8.8% per employee, based on 2019 levels.
Ubisoft is also working on a carbon footprint reduction plan for
2030, which will be submitted to the SBTi for validation, in line
with the goal of limiting global warming to 1.5°C.
Ubisoft appoints Guillemette Picard as
VP of Production Technology: Guillemette will lead a team
of transversal experts to oversee the strategy and supervision of
all aspects of Ubisoft’s production technologies, with the
objective of enabling Ubisoft’s teams to deliver the most
innovative, enriching game experiences to players.
Steady support from Ubisoft’s
shareholders at the Annual General
Meeting held on July 1, 2021. Shareholders approved all
resolutions.
Three games approved in China:
Rabbids Adventure Party, Mario + Rabbids: Kingdom Battle and Tom
Clancy’s The Division 2 have received official approval in
China.
Changes to release schedule of Tom
Clancy’s Rainbow Six Extraction and Riders Republic: They
will now be respectively released on October 28th, 2021 and in
January 2022.
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.
Ubisoft Creates New Global Publishing
and Direct-to-Player Groups: Ubisoft is transforming its
organization from a publishing standpoint, moving from a
region-based to a global organization, and set up a dedicated team
overseeing its Direct to Player initiatives with very ambitious
development goals and an increased focus on the biggest brands.
Conference call
Ubisoft will hold a conference call today,
Tuesday July 20, 2021, at 6:15 p.m. Paris time/5:15 p.m. London
time/12:15 p.m. New York time. 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 RelationsJean-Benoît
RoquetteSVP Investor Relations+ 33 1 48 18 52
39Jean-benoit.roquette@ubisoft.com
Alexandre Enjalbert
Senior Investor Relations Manager +33 1 48 18 50 78
Alexandre.enjalbert@ubisoft.com |
Press Relations Michael Burk
Senior Director of Corporate Public Relations + 33 1 48 18 24 03
Michael.burk@ubisoft.com
DisclaimerThis 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 June 10, 2021
with the French Financial Markets Authority (l’Autorité des Marchés
Financiers)).
About UbisoftUbisoft is a
leading creator, publisher and distributor of interactive
entertainment and services, with a rich portfolio of world-renowned
brands, including Assassin’s Creed®, Far Cry®, For Honor®, Just
Dance®, Watch Dogs®, and Tom Clancy’s video game series including
Ghost Recon®, Rainbow Six® and The Division®. The teams throughout
Ubisoft’s worldwide network of studios and business offices are
committed to delivering original and memorable gaming experiences
across all popular platforms, including consoles, mobile phones,
tablets and PCs. For the 2020-21 fiscal year, Ubisoft generated net
bookings of €2,241 million. To learn more, please visit:
www.ubisoftgroup.com.
© 2021 Ubisoft Entertainment. All Rights
Reserved. Ubisoft and the Ubisoft logo are registered trademarks in
the US and/or other countries.
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.
Player Recurring Investment (PRI) corresponds to
sales of digital items, DLC, season passes, subscriptions and
advertising.
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 |
Europe |
33% |
32% |
North
America |
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
schedule2nd
quarter (July
– September
2021)
PACKAGED & DIGITAL |
|
|
RABBIDS® ADVENTURE PARTY (China exclusive)
|
NINTENDO SWITCH™ |
DIGITAL
ONLY |
|
|
ANNO® 1800: The High Life |
PC |
ASSASSIN’S CREED® VALHALLA: The Siege of Paris |
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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