猛烈抛售！刚刚，暴跌35％！欧洲巨头，崩了

Core Viewpoint - Ubisoft's stock plummeted over 35% following the announcement of a major business restructuring plan, which includes the cancellation of six games, the postponement of seven games, and a significant downward revision of its financial guidance for the fiscal year 2025-2026 [1][2][6]. Group 1: Business Restructuring - Ubisoft announced a large-scale restructuring plan, leading to changes in multiple game projects and potential layoffs [2][3]. - The company expects a loss of €1 billion for the current fiscal year, which includes a one-time impairment of approximately €650 million, and a net booking forecast of around €1.5 billion, down by €330 million from previous guidance [2][6]. - The restructuring will prioritize the development of open-world games and online service games, marking a significant strategic shift for the company [3]. Group 2: Financial Performance - For the fiscal year 2024-2025, Ubisoft reported a 20.5% year-over-year revenue decline, totaling €1.85 billion, with an operating loss of €15.1 million [6]. - The company's outlook for the fiscal year 2025-2026 indicates expected net revenue of approximately €1.5 billion, with a projected non-IFRS operating loss of around €1 billion [7]. Group 3: Cost-Cutting Measures - Ubisoft aims to accelerate cost-cutting initiatives, targeting a reduction of at least €100 million in fixed costs compared to the fiscal year 2024-2025, with plans to achieve this by March 2026 [5]. - The total fixed cost reduction since the fiscal year 2022-2023 is expected to reach approximately €500 million, with a new target of reducing annualized fixed costs to about €1.25 billion by March 2028 [5].