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Ubisoft ends fiscal year €12.7 million in red

CEO expects 2014-15 lineup will compensate

Ubisoft ended its 2013-14 fiscal year €12.7 million ($17.4 million) in debt compared to €104.5 million ($142.9 million) in cash at the end of last year.

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Ubisoft brought in just over €1 billion ($1.38 billion) in sales over the year, after bringing in €1.26 billion ($1.72 billion) in 2012-13, according to a financial report shared with investors on Thursday.

The company reported spending €479.7 million ($655.9 million) on research and development investments in 2013-14, as compared to €458.9 million ($657.5 million) last year. Ubisoft CEO Yves Guillemot said he expects the company to return to profitability with its 2014-15 lineup.

"Combined with the fast uptake of new-generation consoles and strong growth in the online market, our ambitious games line-up should land three of our titles in the top ten best-selling games of the year for consoles and PC, and lead us to record a sharp rise in our digital sales," Guillemot said.

"The year's performance will be led by five games - Assassin's Creed Unity, Far Cry 4, Just Dance, The Crew and Watch Dogs. Watch Dogs' pre-orders are at record levels and it is perfectly positioned to become the industry's most successful new IP in history."

Ubisoft announced that Assassin's Creed 4: Black Flag had shipped and digitally sold more than 11 million units, meeting Guillemot's previous predictions.

The publisher did not directly address sales for South Park: The Stick of Truth, saying only that it enjoyed a "solid performance" with "higher-than-expected digital distribution levels."

Digital revenues grew by 32 percent from the previous year, led by digitally distributed games and DLC. Digital sales accounted for 19 percent of Ubisoft's total sales over the year.

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