Ubisoft has updated its financial targets for 2013/2014 after it delayed two of its open world games: Watch_Dogs and The Crew.
Ubisoft now expects sales between €995 million and €1,045 million and a non-IFRS operating loss of between €70 million and €40 million. Prior targets were sales of between €1,420 million and €1,450 million and non-IFRS operating income of between €110 million and €125 million.
Here is a quote from Ubisoft on the revisions:
“Our long term goal is to win the next generation. The tough decisions we are taking today to fully realize the major potential of our new creations have an impact on our short-term performance. We are convinced that, longer term, they will prove to be the right decisions both in terms of satisfaction for our fans and in terms of value creation for our shareholders. We are building franchises that will become perennial pillars of Ubisoft’s financial performance.
In a context of growing successes for mega-blockbusters, the additional time given to the development of our titles will allow them to fulfill their huge ambitions and thus offer players even more exceptional experiences” stated Ubisoft co-founder and CEO Yves Guillemot. He concluded “Fueled by strong momentum for PlayStation 4 and XboxOne, calendar 2014 will see the return of growth to the console market. Combined with the quality of our line-up and our strong financial situation, this growth will allow us to achieve record operating income in fiscal 2014-15 and 2015-16.”