Full Year 2022 Ubisoft Entertainment SA Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Jamie Bass - Joh. Berenberg, Gossler & Co. KG, Research Division - Analyst : I've got 3 questions as well, if that's all right. I mean, quite similar to a couple of the previous ones, but on the cash R&D side, so I guess we can't have necessarily an exact idea of how much it's going to grow this year, but could you give us an idea of whether we're going to have a similar level of proportion of capitalization as we've seen in the past few years, or is there going to be a shift towards more of that R&D being in the P&L as these games start to come out? Second question, again, this is quite similar to next, but, if we look at the Q1 outlook for next year, that's below almost every quarter for the last 2 years, just on the back catalogue. So, what assumptions are you making about how aggressively the back catalogue net bookings will drop off, and does that mean you're on the conservative side to Roller Champion here as well and (inaudible) other revenues? Finally, you've got quite a lot of content in the pipeline in terms of free-to-play in mobile, how are you thinking about the gaps that you would

Question: Emmanuel Matot - ODDO BHF Corporate & Markets, Research Division - Analyst : Good afternoon. Thank you for taking my questions. First, what about your employee turnover? What is the current rate compared to the historical average? To what level do you increase wages to retain talents and attract new ones? Can you take also advantage of the mergers between some of your competitors in the sector? And second, could you update us on your partnership with Tencent? Where are you and what are the next phases? Do you want to expand your relationship with this company? And my last question, why have you just decided to broaden the executive committees? Why are you taking the decision now and maybe not earlier?