Ubisoft Reveals H1 Earnings

Ubisoft Reveals H1 Earnings

Business

21 November 2025 11:35

Ubisoft has reported first half earnings that beat expectations and says its €1.16 billion partnership deal with Tencent remains on schedule. The update follows a brief delay in reporting results, which came after the company restated earnings for FY2024 to 2025.

The publisher shared its numbers under both IFRS and non IFRS rules. Key results for H1 FY2025 to 2026 include:

Net bookings: €772.4 million, up 20 percent

Digital net bookings: €685.8 million, up 30 percent

Back catalogue bookings: €741.4 million, up 50 percent

IFRS operating income: –€120.2 million

Non IFRS operating income: €27.1 million

Ubisoft credited the stronger performance to better than expected partnerships and strong sales from Assassin’s Creed and The Division. Rainbow Six underperformed due to what the company called a temporary rise in cheating.

The Companies/TencenTencent backed Vantage Studios is nearly ready to launch. Tencent will own 25 percent of the new subsidiary in exchange for €1.16 billion, which Ubisoft plans to use to reduce its €1.15 billion net debt.

Assassin’s Creed Shadows and the series’ back catalogue were highlighted as major wins, along with a boost from DLC and a free update for Mirage. Ubisoft also pointed to early success for Tom Clancy’s Splinter Cell: Deathwatch on Netflix and strong first week spending for Anno 117: Pax Romana.

CEO Yves Guillemot said the catalog showed “contrasting dynamics” but praised the momentum behind Assassin’s Creed and The Division. He added that Ubisoft’s cost cutting progress and growing revenue give confidence the company can return to “strong cash generation” in the coming years.

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Tags: Ubisoft

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