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CDR - CD Projekt SA News Story

PLN256.2 0.0  0.0%

Last Trade - 15/01/21

Consumer Cyclicals
Large Cap
Market Cap £5.06bn
Enterprise Value £4.95bn
Revenue £129.7m
Position in Universe 8th / 779

BUZZ-Ubisoft: Return of game delays, shares slump

Fri 30th October, 2020 8:41am
** Shares in Ubisoft  UBIP.PA  slump 8.4% as the game maker
cuts its FY guidance, having been forced to delay two of its
blockbuster games due to the coronavirus pandemic 
    ** Ubisoft moved the release of Far Cry 6 and Rainbow Six
Quarantine to FY 2021-2022*:nL1N2HK2Q8   
    ** "It was always going to be hard to release five games in
a short period given the work from home status of the
developers", Credit Suisse notes
    ** The Assasin's Creed maker now sees FY net bookings of
2.20-2.35 billion euros ($2.60-$2.78 billion), operating income
of EUR 420-520 million 
    ** Ubisoft said net bookings would grow in FY22 vs FY21, but
implied that in absolute terms FY22 would be lower than prior
consensus due to lower back catalogue contribution, CS adds
    ** The delays imply a hit to FY 2022 forecasts, Barclays
says, noting a "shunting" effect, with the delayed games forming
part of the "3 to 4" AAA launches in FY22, so other games are
pushed to FY23
    ** In October last year, the French game maker already had
to cut its annual profit targets and delayed blockbuster game
    ** The group is on its way for its worst day in over 6
months and sits firmly at the bottom of France's SBF120 Index

($1 = 0.8461 euros)

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