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Rovio sees slight revenue increase through 2013, was “foundation-building year”

Monday, 28th April 2014 12:33 GMT By Dave Cook

Angry Birds studio Rovio has posted its earnings report for financial year 12/13, flagging a 2.5% increase in revenue year-on-year. However, CFO Herkko Soininen called 2013 a “foundation-building year” that will allow the firm space to expand and grow moving forward.

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In a statement, Soininen said, “We invested in new business areas, such as animation and video distribution, ventured into new business models in games, and consolidated our strong market position in consumer products licensing. With these investments we have been gearing up for the future growing markets.”

GI.biz reports that Rovio posted full-year revenue of €156 million, up 2.5% over financial year 2012′s €152.2 million. Earnings before tax and interest were €36.5 million, down from €76.8 million in 2012, while profit after tax sat at €26.9 million, down from €55,5 million year-on-year.

Speaking of the firm’s impending growth, CEO Mikael Hed added, “Building on top of our games business, where we moved into free-to-play, Rovio set its foot strongly into the entertainment business,” and added, “Angry Birds has exceeded 2 billion downloads so far, making it the most downloaded game brand ever.

“We’re creating long lasting business, and strongly believe our entertainment strategy will consolidate Rovio’s position as one of the world’s most beloved brands.”

The firm’s headcount grew from 500 to 800 in 2013, while its Consumer Products division accounted for 47% of its overall income last year. Rovio confirmed that it laid down several investments last year in the hope of securing and growing future strategies.

Soininen closed by saying, “Future business will, for the most part, depend on how well last year’s investments perform and how our new properties delight our audiences. We are actively investing in the company to increase our capabilities for the future, and this year will see exciting new content and services coming from all our business areas.”

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