- Sales1: €166 million
- Current operating loss2 of €78 million, in line with guidance
- 2009-10 targets confirmed Paris, November 30, 2009 – Today, Ubisoft released its results for the six months ended September 30, 2009.
Yves Guillemot, Chief Executive Officer, stated “First week sales of Assassin’s Creed II, up 32%, with positive initial indications for the second week, combined with an overwhelmingly warm reception from gamers, validates our strategy of developing bigger franchises. Based on this initial data, Assassin’s Creed 2 looks well positioned to outstrip targets while our Wii games have got off to a more contrasted start in a less predictable market. Finally, sales of James Cameron’s Avatar : The Game should benefit from the launch of the movie which is expected to be the biggest blockbuster of this holiday season.”
Main income statement items
Sales for the first six months of 2009-10 came to €166.0 million.
Due to the sharp drop in sales and the significant sales promotions on back-catalog games, gross profit was down sharply on the first half of 2008-09, both in absolute value terms, at €69.1 million versus €199.6 million, and as a percentage of sales, representing 41.6% compared to 57.9%. Gross profit on games launched during the first six months of 2009-10 was higher than in the equivalent prior-year period whereas back catalog titles – which normally generate a gross profit – turned in a negative gross margin.
Ubisoft reported a €77.7 million current operating loss before stock-based compensation, in line with the previously announced guidance of €80.0 million, compared with current operating income of €33.0 million in the first half of 2008-09.
Link to full press release and financial statements (pdf)
-Justin
