Ubisoft Entertainment S.A.

Ubisoft Entertainment is an international independent developer, publisher & distributor of video games. Co. centers its business activities on developing, publishing & distributing video games for portable & home consoles, the PC, smartphones & tablets in both physical & online formats: high-definition with games for Xbox 360, PlayStation®3 & PC; casual with games for Nintendo®, KINECT & PlayStation®3 Move; and online for on-line games. Co.'s catalogue includes various types of games: Action/Adventure, Shooters, Sports, Strategy, Simulation, TV and Movie licenses, Games for everyone and Driving. Co.'s trademarks include Assassin's Creed®, Rainbow Six® Vegas 2, and Rayman Raving Rabids®.
  • TickerUBI
  • ISINFR0000054470
  • ExchangeEuronext Paris
  • SectorLeisure Goods
  • CountryFrance
Matthew Breda ...
  • Michael Pachter
  • Nick McKay

August 2020 Video Game Industry Monthly

Louis Boujard, CFA ...
  • Philippe Ourpatian

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 07/23/2020

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Emmanuel Matot

Ubisoft : Good start to the year for the activity but a serious ESG problem

>Robust momentum in Q1 with support from COVID-19 - Strong development of back-catalogue and PRI - - Ubisoft published yesterday evening its Q1 sales (April-June 2020). Sales were up 27% LFL to € 410m (net bookings), ahead of management’s guidance (€ 335m) as often.This momentum was boosted by the lockdown measures imposed on populations in April and May (return to more normal trends in June and July) with very strong development of the back-catalogue and PRI (Ra...

Louis Boujard, CFA ...
  • Philippe Ourpatian

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 23/07/2020

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Dave Nicoski ...
  • Ross LaDuke

Int'l Macro Vision: Sector Synopsis

Int'l Equity Strategy Global equities were on a tear in early January, continuing the trend that began in 4Q2019. As global equities started to get extended, the coronavirus outbreak hit in mid-January, leading to some market setbacks and deterioration in market indicators as global growth expectations were dialed-in. Despite this deterioration, what was important to us was that there were not any breakdowns. Even the areas of the market most-directly affected by the outbreak -- China (MSCI China) and EM (MSCI EM) -- were not breaking down. To us, this was a reassuring sign of underlying stre...

Matthieu DRIOL

Analyse court terme - UBISOFT : La tendance est baissière.

La tendance est baissière. Le mouvement se poursuit. Le prochain objectif est à 76,26 €, puis 72,23 €. Le franchissement de 107,90 € remettrait en cause la suite de la baisse.

Matthieu DRIOL

Short term view - UBISOFT : The trend is bearish.

The trend is bearish. The movement goes on. The next target is at €76.26, then €72.23. Passing €107.90 would question the continuation of the fall.

Matthieu DRIOL

Analyse court terme - UBISOFT : La tendance est baissière.

La tendance est baissière. Le mouvement se poursuit. Le prochain objectif est à 76,26 €, puis 72,23 €. Le franchissement de 107,90 € remettrait en cause la suite de la baisse.

Matthieu DRIOL

Short term view - UBISOFT : The trend is bearish.

The trend is bearish. The movement goes on. The next target is at €76.26, then €72.23. Passing €107.90 would question the continuation of the fall.

Matthew Breda ...
  • Michael Pachter
  • Nick McKay

August 2020 Video Game Industry Monthly

Emmanuel Matot

Ubisoft : Good start to the year for the activity but a serious ESG problem

>Robust momentum in Q1 with support from COVID-19 - Strong development of back-catalogue and PRI - - Ubisoft published yesterday evening its Q1 sales (April-June 2020). Sales were up 27% LFL to € 410m (net bookings), ahead of management’s guidance (€ 335m) as often.This momentum was boosted by the lockdown measures imposed on populations in April and May (return to more normal trends in June and July) with very strong development of the back-catalogue and PRI (Ra...

Matthew Breda ...
  • Michael Pachter
  • Nick McKay

Shelter-in-Place Drives Record Q1 Net Bookings; FY Guidance and Pipeline Intact

Emmanuel Matot

Ubisoft : Bon début d’année pour l’activité mais une grave problématique ESG

>Belle dynamique au T1 avec le soutien de COVID-19 – Fort développement du back-catalogue et du PRI - Ubisoft a publié hier soir son CA T1 (période avril-juin 2020). Il s’établit en croissance de 27% à données comparables soit 410 M€ (net bookings), un niveau comme souvent supérieur à la guidance des dirigeants (335 M€).Cette dynamique a bénéficié de la période de confinement des populations en avril et mai (retour à des tendances plus normales en juin et juillet...

Joan Sehim

UBISOFT- 1Q18/19 results

Ubisoft, the world’s No. 3 video games publisher, last night released 1Q18/19 sales results. Net bookings came in at €381.5m (+89% reported, +96% at cc), outstripping management’s initial guidance of €350m.

Joan Sehim

UBISOFT - RATING REPORT

Our rating is supported by Ubisoft’ strong position as the world’s No. 3 video games publisher, just behind Activision-Blizzard and Electronic Arts. It enjoys very promising industry fundamentals with a sharp rise in the global player base generated by new technologies as well as the dawning of emerging mar-kets and occasional players.

Marnik Hinnekens

Morning CreditUpdate 16/01/2018 - CGG / Ubisoft

CGG     CA 2017 et prévision d’EBITDA Ubisoft     Nouvelle émission à venir de maturité 5A Fiat Chrysler Automobiles (Achat) prévoit de scinder Magneti Marelli Renault (Conserver) affiche une hausse des volumes de vente en 2017 de +8,5% Petrobras (Conserver) a finalisé le transfert de 2 participations à Total (Achat) Metro (Conserver) enregistre au cours du T1 2017-18 un CA en croissance organique de +0,8%  

Louis Boujard, CFA ...
  • Philippe Ourpatian

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 07/23/2020

...

Louis Boujard, CFA ...
  • Philippe Ourpatian

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 23/07/2020

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Ahmed Ben Salem

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 07/17/2020

We are forecasting an historically low H1 2020, penalised by the lockdown effects. On the basis of our H1 estimates and the full-year consensus, several stocks are likely to disappoint (Imerys and Vicat). Conversely, the full-year consensus seems to incorporate a margin for error and, possibly, potential for upward revision for LafargeHolcim, Getlink and Eiffage. Saint-Gobain and Eiffage remain our favourite stocks, particularly as the market and investors are already looking to 2021....

Ahmed Ben Salem

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 17/07/2020

Nous tablons sur un S1 2020 historiquement bas, pénalisé par les effets du confinement. Sur la base de nos estimations S1 et du consensus annuel, plusieurs valeurs nous semblent susceptibles de décevoir (Imerys et Vicat). A l’inverse, le consensus annuel nous semble intégrer une marge d’erreur, voire un potentiel de révision à la hausse pour LafargeHolcim, Getlink et Eiffage. Saint-Gobain et Eiffage restent nos valeurs préférées d’autant que le marché et les investisseurs ont déjà tou...

Ahmed Ben Salem ...
  • Anis Zgaya
  • Benoit Valleaux
  • Emmanuel Matot
  • Florent Laroche-Joubert
  • Jean Sassus
  • Louis Boujard, CFA
  • Philippe Ourpatian
  • Steven Gould
  • Sylvain Goyon, CFA

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 05/15/2020

After our attempt to establish a sector hierarchy last week, we now adopt an approach using a comparable methodology (speed of revision, performance price / revisions relative to the market, earnings yield/risk-free rate spread) to that of Stoxx 600 stocks. We present a list of 64 stocks combining high scores and a Buy rating from ODDO BHF analysts and a list of stocks to sell, comprising 33 names with a low score and a Reduce rating. The appendix outlines the ranking of all the Stoxx...

UBISOFT ENTERTAINMENT CAT A sees a downgrade to Neutral on account of less fundamental stars

The independent financial analyst theScreener just lowered the general evaluation of UBISOFT ENTERTAINMENT CAT A (FR), active in the Software industry. As regards its fundamental valuation, the title now shows 1 out of 4 stars while market behaviour can be considered moderately risky. theScreener believes that the title remains under pressure due to the loss of a star(s) and downgrades its general evaluation to Neutral. As of the analysis date July 17, 2020, the closing price was EUR 68.02 and its target price was estimated at EUR 56.10.

Ford Equity International Rating and Forecast Report

Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind each recommendation and reflect the fundamental and price data as of the last trading day of the week...

Jehanne Leroy

Ubisoft Entertainment - Assemblée Générale des actionnaires du 2 Juillet 2020

GouvernanceLa société propose le renouvellement d’Yves Guillemot, PDG. Malgré le fait que la société ait multiplié la mise en place de dispositifs contrebalançant le cumul des pouvoirs, l'indépendance du conseil n'est toujours pas acquise (avec de surcroit une surreprésentation de l'actionnaire historique). RémunérationsLa communication de la société sur le bonus attribué à Yves. Guillemot fait partie des meilleures du SBF120, et nous l’en félicitons, puisqu’elle permet une compréhension parfaite des montants attribués. Concernant la politique de rémunération pour 2020/2021, les changements ...

Expert Corporate Governance Service (ECGS)

Ubisoft Entertainment – AGM 2 July 2020

 ITEM 6: The Company's disclosure on the bonus awarded to Yves. Guillemot is one of the best in the SBF120, and we congratulate him on this, as it provides a perfect understanding of the amounts awarded.  ITEMS 11 and 12: Regarding the remuneration policy for 2020/2021, the proposed changes notably have the effect of removing the redundancy of the EBIT criterion between the bonus and the LTI, but also strengthen the link between the remuneration to be awarded and CSR. These changes are therefore welcome and we recommend supporting these remuneration policies. ITEM 14: The Company proposes the ...

Expert Corporate Governance Service (ECGS)

Ubisoft, 02 July 2019

ITEM 5: The Company’s disclosure on its Chairman and CEO's annual bonus is one of the best in the SBF120 as it not only clearly discloses targets that need to be achieved in 2018-2019, but also targets that will have to be achieved in 2019-2020. In addition, amounts are acceptable and structure is quite similar to our recommendations. Thus, we support item 5 ITEM 6: Changes proposed for the 2019-2020 Chairman and CEO’s remuneration policy are a 3%-increase of the fixed remuneration and the addition of a CSR criterion to the annual bonus. The 3%-increase of the fixed remuneration increases all...

Jehanne Leroy

Ubisoft, 2 juillet 2019

RémunérationsLa communication de la société sur le bonus attribué à son PDG fait partie des meilleures du SBF120, et nous l’en félicitons, puisqu’elle permet une compréhension parfaite des montants attribués. Par ailleurs, on appréciera que la majeure partie de la rémunération variable soit de long-terme. On regrettera que la société ne communique pas l’objectif d’EBIT cumulé à atteindre pour la rémunération long-terme. Concernant la politique de rémunération pour l’exercice 2019/2020, la société propose une augmentation de 3% du fixe du PDG et l’ajout d’un critère RSE (protection des joueurs...

Ubisoft – Proxinvest Corporate Governance Rating ® : A

Proxinvest Corporate Governance Rating ® helps investors integrate governance into their investment decision and identify governance risks and opportunities within their portfolio. Proxinvest Corporate Governance Rating ® Service rates European issuers through the analysis of four main themes : Ownership & Shareholder rights, Board & Committees, Audit & Process, Remuneration. Each theme is rated taking into account several comprehensive sub-categories. Our unique two-step process to achieve each rating includes a first step quantitative valuation and a second step qualitative filter...

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