UBISOFT DECIDES TO INVEST ADDITIONAL DEVELOPMENT TIME IN THREE GAMES
Update of Fiscal 2017-18 targets, notably by revising the profitability target upward
Higher visibility for Fiscal 2018-19
Paris, December 7, 2017 - Today, Ubisoft announced it is investing more time in the development of three upcoming games. Far Cry® 5 is now slated for release on March 27, 2018 (instead of February 27, 2018) and The Crew® 2 will come out in the first half of Fiscal 2018-19 (rather than on March 16, 2018). In addition, one of the three unannounced franchise games initially planned for release in Fiscal 2018-19 now will be released in Fiscal 2019-20.
Christine Burgess-Quémard, Ubisoft's Worldwide Studios Executive Director, said, "This decision is in line with our strategic vision of developing even more engaging and higher quality experiences for gamers. Taking more time with Assassin's Creed Origins enabled our talented development team to fully express their creative vision. As expected, this had a very positive impact on the game's quality and largely participated to its commercial success. Taking a similar approach, we have decided to invest additional development time in three upcoming games."
This announcement is being made against a particularly favorable backdrop for Ubisoft, with the month of November seeing continued excellent sales momentum both for back-catalog and new releases.
As a result of both the adjusted lineup and the confirmation of the positive sales trends, Ubisoft is updating its financial 2017-18 targets, notably by revising its profitability upward.
2017-18: Profitability target revised upward
2018-19: Targets confirmed and higher visibility
Alain Martinez, Chief Financial Officer, stated "Our back-catalog performance throughout November followed the same excellent trends as in the first half of the year and sales for Assassin's Creed Origins continued their positive launch trajectory. As a result, we are now in a position to both update our financial 2017-18 targets, notably by revising our profitability upward, as well as invest additional development time in our future releases. These positive evolutions, which also give us higher visibility for 2018-19, demonstrate we are successfully transforming our model to make our business more recurring and profitable."
Ubisoft will publish its sales for the third fiscal quarter on Thursday, February 8, 2018, after the close of stock market trading.
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