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Ubisoft meets FY24 sales targets but cancels The Division Heartland
Ubisoft’s latest financial report shows it’s on track to meet targets, but The Division Heartland has been cancelled to save on costs.
CEO Yves Guillemot said iin the earnings call that this year is a “pivotal first step” in bringing Ubisoft “back on track” adding, “With these core verticals, and leveraging ongoing investments in our technologies to reach and maintain a competitive advantage, we aim to drive growth and recurrence with the objective to gradually expand operating income and generate robust free cash flow.” Frédérick Duguet, Ubisoft’s CFO, said, “While there remains work to be done in the coming years, we are on track to get back to free cash flow generation in FY25 and reach our €200m annual cost reduction objective by FY26.” The company said in the earnings report: “Additionally, in line with the increased selectivity of its investments, Ubisoft has decided to stop development on The Division Heartland and has redeployed resources to bigger opportunities such as XDefiant and Rainbow Six.” Hearltand was a free-to-play third-person shooter originally announced in 2021, and would have been set in rural America.
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