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French Video Game Maker Ubisoft Increases Writedowns, Lowers Targets on Weak Sales

The Ubisoft Entertainment logo is seen at the Paris Games Week (PGW), a trade fair for video games in Paris, France, October 29, 2019. (Reuters)
The Ubisoft Entertainment logo is seen at the Paris Games Week (PGW), a trade fair for video games in Paris, France, October 29, 2019. (Reuters)
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French Video Game Maker Ubisoft Increases Writedowns, Lowers Targets on Weak Sales

The Ubisoft Entertainment logo is seen at the Paris Games Week (PGW), a trade fair for video games in Paris, France, October 29, 2019. (Reuters)
The Ubisoft Entertainment logo is seen at the Paris Games Week (PGW), a trade fair for video games in Paris, France, October 29, 2019. (Reuters)

Ubisoft is increasing expected writedowns to 500 million euros ($538 million) and is cutting its full-year revenue target on weaker-than-than expected sales at the end of 2022, the French video game maker said on Wednesday. 

Ubisoft cited the deterioration of the economic environment, marked by lower spending on non-essential goods to explain the acceleration of the depreciation, previously targeted at 400 million euros. 

The group is also postponing the of the release of its game "Skull and Bones", and is planning cost cuts of 200 million euros over two years, which will includes layoffs, Chief Financial Officer Frederick Duguet said in a call with reporters. 

Duguet declined to elaborate on the number of job cuts. The company said it was now expecting full-year net bookings to be down by more than 10%, compared with a previous target of growth of 10%. 

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SDAIA Receives Recognition for Innovative Projects at WSIS Summit in Geneva

SDAIA’s nominated projects represented a distinguished set of technological initiatives that demonstrated innovation, relevance, and impact in their respective fields - SPA
SDAIA’s nominated projects represented a distinguished set of technological initiatives that demonstrated innovation, relevance, and impact in their respective fields - SPA
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SDAIA Receives Recognition for Innovative Projects at WSIS Summit in Geneva

SDAIA’s nominated projects represented a distinguished set of technological initiatives that demonstrated innovation, relevance, and impact in their respective fields - SPA
SDAIA’s nominated projects represented a distinguished set of technological initiatives that demonstrated innovation, relevance, and impact in their respective fields - SPA

The Saudi Data & AI Authority (SDAIA) received certificates for its nominated projects, which were recognized among the best entries at the 2025 World Summit on the Information Society (WSIS) Prizes held in Geneva, Switzerland, highlighting SDAIA’s innovative contributions to the fields of data and artificial intelligence (AI).

SDAIA’s nominated projects represented a distinguished set of technological initiatives that demonstrated innovation, relevance, and impact in their respective fields.

Out of 973 submissions from various countries, they were chosen after an expert evaluation conducted by the International Telecommunication Union (ITU), SPA reported.

The nominated projects included the government cloud-computing platform “Deem,” which provides integrated and flexible cloud services for government entities; the “Nafath” application for biometric identity verification; the “Serti” service within the “Tawakkalna” app that enables users to display their certified academic qualifications; the “Tahseen” project, which uses AI to restore and enhance historical media; and the “Allam” and “Sawtak” projects, both of which represent a significant leap in supporting and processing Arabic using large language models and speech recognition technologies.

These achievements reflect the Kingdom’s commitment, through SDAIA, to reinforcing its global standing as a trusted authority in data and AI, advancing the national digital transformation agenda, and supporting the goals of Saudi Vision 2030. They also contribute to enhancing the Kingdom’s regional and international competitiveness in technology and innovation.