April 6, 2018
The company’s gaming division posted a €45.5 million growth in revenue.
Rovio Entertainment has returned to profitable growth, following a record performance in its games division and the blockbuster release of The Angry Birds Movie in 2016.
Gross revenue for the company grew 34 percent to €190.3 million. Earnings before interests and taxes also improved to €17.5 million.
Furthermore, Rovio’s games division posted €159 million in revenue, compared to €113.5 million in 2015. In addition, the games division also improved its profitability significantly and earnings before interests and taxes increased to €29.6 million (compared to €4 million in 2015).
According to Rovio, its best performing games in 2016 included “Angry Birds 2,” “Angry Birds Friends” and “Angry Birds POP.”
The company’s animation division was also responsible for its profitable growth, posting €31.3 million in 2016 compared to €28.8 million in 2015. The highlight of the division was the global release of The Angry Birds Movie, which hit nearly $350 million at the worldwide box office; however, most of the revenues related to the movie will be recognized in 2017 and 2018.
“Both our growth and profitability targets were exceeded in 2016,” says Kati Levoranta, chief executive officer, Rovio. “With the all-time high performance of our games portfolio and the success of The Angry Birds Movie, I am very happy to see Rovio’s revenue and profit developing very positively. Rovio’s games business is growing fast, and this year we will see several new exciting Rovio games bringing attractive experiences to everyone and supporting Rovio’s long-term growth. I am also very proud to see two of our games, ‘Angry Birds 2’ and the newest release, ‘Angry Birds Blast,’ in the top 50 grossing games list in the U.S. I can just thank our fans and our amazing team at Rovio for making this turnaround happen.”
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