Ubisoft Banking on Assassin’s Creed Success, Pushes Off Upcoming Releases
French developer Ubisoft is raising its financial guidance for fiscal 2007-08 based upon record sales of Assassin’s Creed.
Sales figures for Assassin’s Creed has far exceeded expectations weighing in as one of the top two or three best selling games for the PS3 or Xbox 360 in most geographical regions. According to Ubisoft, the game has sold more than 2.5 million units worldwide in less than four weeks.
“With the exceptional performance of Assassin’s Creed, the fastest-selling new videogame intellectual property in the US ever, Ubisoft’s teams have once again demonstrated their expertise in creating and promoting major brands,” said Yves Guillemot, CEO of Ubisoft.
“These regular-sequel franchises are a source of very high profitability both in the short and long term. Drawing on its strong internal development capacities, Ubisoft is currently in an ideal position to continue to develop numerous new creations – an essential condition for winning market share and ensuring strong growth going forward.”
Ubisoft has changed it’s target for current operating income before stock options from 9% to 12%. It’s also raised its sales forecast for 2007-2008 from 825 million Euro to 840 million. Q3 is forecasted for 410 million Euro in sales, up from 330 million.
Ubisoft officially announced that it has postponed the release of Tom Clancy’s End War, Brothers in Arms: Hell’s Highway and Far Cry 2 for fiscal 2008-09, rather than Q4 2007-08.
Ubisoft is hoping for sales of approximately 975 million Euro in fiscal 2008-09, with operating income representing at least 11% of sales as a result of the move.