May 15 (Reuters) – French video game manufacturer Ubisoft announced on Wednesday that it had returned to an operating profit for its 2023-2024 fiscal year, driven by a sharp increase in annual net bookings.
The group’s non-IFRS annual operating profit for the year stood at €401.4 million, in line with the company’s objectives.
Last year, Ubisoft recorded the biggest operating loss in its history, at 500.2 million euros.
“The results for the 2023-24 financial year confirm that Ubisoft is once again on the path to profitable growth, posting record annual and quarterly net bookings,” said Yves Guillemot, co-founder and CEO of the group.
For the 2024-2025 financial year, the video game publisher said it was targeting a “slight” increase in non-IFRS operating profit as well as “solid” growth in net bookings.
Net bookings should reach around 275 million euros in the first quarter, compared to 872.7 million euros achieved in the fourth quarter (+178.7%).
Last year, Ubisoft also benefited from the non-exclusive licensing agreement for streaming rights to Activision Blizzard games, including the famous “Call of Duty” franchise.
(Written by Alban Kacher, edited by Blandine Hénault)
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