The French publisher on Wednesday presented unprecedented annual results: a net loss of €1,47 billion for the 2025-2026 fiscal year, exacerbated by a major restructuring initiated in January. The group released no major titles during the entire period, with the exception of the strategy game Anno 117: Pax Romana, while its net pre-orders fell by 17,4% year-on-year to €1,52 billion.
The plan decided at the beginning of the year was radical: cancellation of seven games in development, postponement of six others, and a complete reorganization of the production structure. Half of the group's studios are now consolidated into five entities called "creative houses," while the other half provides cross-functional support for projects. "This two-year transformation involves difficult decisions and disappointing short-term financial performance," acknowledged CEO Yves Guillemot in a statement.
A minimal catalogue before the announced return of major franchises
The 2026-2027 fiscal year is also shaping up to be challenging. The CEO himself describes it as "a low point in our trajectory," with a limited release schedule and ongoing restructuring costs. The group is nevertheless counting on the July 9th release of Assassin's Creed Black Flag Resynced (a remake of one of the most popular installments in its flagship saga) as well as several unannounced premium titles.
The prospect of a "strong rebound" is postponed to the 2027-2028 financial year. It is by this time that Ubisoft hopes to return to positive cash flow generation, driven by the return of the major brands Assassin's Creed, Far Cry and Rainbow Six, now united within a new subsidiary called Vantage Studios, co-owned by the Chinese giant Tencent.
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