UBISOFT Entertainment

UBI

Equity

ISIN FR0000054470 / Valor 491199

Euronext - Euronext Paris (2026-10-30)

EUR 4.10-2.86%

UBISOFT Entertainment
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About company

Ubisoft Entertainment is a multinational company engaged in the creation, development, and publishing of video games. It operates a network of studios worldwide, with a workforce of approximately 17,000 employees, and focuses on both developing original titles and licensing high-profile games. Recently, the company secured cloud streaming rights for a major slate of games—including titles like Call of Duty—through an agreement contingent on the completion of Microsoft’s acquisition of Activision Blizzard, positioning these titles on its Ubisoft+ service as well as through licensing to other digital gaming platforms. Additionally, Ubisoft invests in technological tools that enhance accessibility in gaming, such as its open-source colorblind simulation software, supporting developers in creating more inclusive content.

Summarized from source with an LLMView SourceSector: Technology

Key financials

Q1 IFRS 15 sales: €268.2m (-13.7% YoY). Q1 net bookings: €255.8m (-9.2% YoY) and slightly above the ~€250m guidance. Digital net bookings were €206.2m (-17.6%), representing 80.6% of net bookings. Back-catalog net bookings were €221.0m (-15.1%). PRI (player recurring investment) was €151.3m (-0.4%), or 59.1% of net bookings.

Product launches & highlights

Assassin’s Creed Black Flag Resynced (released July 9) sold-in 3.5 million copies in its first 14 days, scored 84 on OpenCritic/Metacritic and hit ~105k peak concurrent players on Steam — the highest for the franchise on that platform. Rayman Legends Retold (Oct 1) and Just Dance Decades of Hits (Oct 13) are next on the FY2026-27 slate.

Live services and mobile performance

Invincible: Guarding the Globe delivered a record quarter for net bookings, helped by TV-season-driven interest and new in-game content. Rainbow Six Siege performed in line with expectations (strong battle-pass conversion for Year 11 Season 2); The Division 2 and The Crew Motorfest saw improved monetization and engagement from seasonal content and platform inclusions.

Transformation & cost actions

The Group continues restructuring and rightsizing: appointment of Christoph Hartmann as GM of Creative House 2, closure of Winnipeg and Belgrade studios, targeted Global Publishing changes, and a restructuring at Ubisoft Barcelona to concentrate resources on high-potential opportunities and quality delivery.

Outlook, guidance & liquidity

Q2 net bookings guidance: around €370m. Ubisoft confirms FY2026-27 targets: net bookings down a high single-digit percentage, a high single-digit negative non‑IFRS operating margin, and Free Cash Flow consumption of no more than €500m. The Group says it has sufficient near-term liquidity and is reviewing financing options to address upcoming maturities; it expects to return to positive Free Cash Flow and non‑IFRS EBIT in FY2027-28 and generate robust Free Cash Flow in FY2028-29.

Regional & platform mix (Q1 2026-27)

Geography: North America 47%, Europe 38%, Rest of world 15%. Platform split: Consoles 46%, PC 27%, Mobile 19%, Others 8% — showing a notable increase in mobile contribution versus the prior year.

Summarized from source with an LLMView Source

Key figures

-47.5%1Y

-84.5%3Y

-90.9%5Y

Performance

78.2%1Y

62.9%3Y

56.7%5Y

Volatility