Ubisoft shares plummet 33% after Assassin’s Creed maker unveils reorganization, cancels six games [MSNBC.com]
UBISOFT ENTMT UNSP/ADR (UBSFY)
NASDAQ:AMEX Investor Relations:
ubisoft.com/en-us/company/investor_center/index.aspx
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Source: MSNBC.com
UbisoftThe changes come following years of stock price decline, following the Covid-19 pandemic, after delays to major releases andfinancial strugglesThe company said it expected to make an operating loss of around 1 billion euros ($1.17 billion) in the financial year ending 2026, following a 650 million euro write-down caused by the restructure. It would consider selling assets, Ubisoft said in a statement on Wednesday evening."Today's market environment requires that the Group step-changes how it is organized and operates," Yves Guillemot, Founder and CEO of Ubisoft, announced in the statement."The portfolio refocus will have a significant impact on the Group's short term financial trajectory, particularly in fiscal years 2026 and 2027, but this reset will strengthen the Group and enable it to renew with sustainable growth and robust cash generation."Ubisoft said studios in Halifax, Canada and Stockholm would close, with restructurings in those in Abu Dhabi, Helsinki and Malmö.The c
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