2012 remained a record breaking period for Angry Bird’s developer Rovio Entertainment Ltd as the company announced its full-year financial results from 2012 on Wednesday, April 3rd. The company reported that its sales had grown 101 percent and it had banked 152.2 million euros with a net profit of 55.5 million euros, which is 64 percent more than what Rovio had earned back in 2011 thanks to its “consumer products” that accounted for 45 percent of income. Previously the consumer products proportion was 30 percent, which means that it has seen a growth of 15 percent at the end of 2012. However, the major contribution came from the gaming business of Rovio, as the company managed to boost its revenue by luring 263 million active users, while its game downloads reached 1.7 billion mark by December 2012.
Here is the press release of the Rovio’s full-year financial results:
“Total consolidated full year revenue grew by 101%, driven by a healthy growth in games revenue and consumer product sales, and amounted to €152.2 million (2011: €75.6 million). Earnings before interest and taxes (EBIT) were €76.8 million (2011: €46.9 million), up 64% from year 2011, and net profit after tax was €55.5 million (2011: €35.4 million).
“Year 2012 was another record-breaking year for Rovio. We doubled our revenue with an EBIT margin of 50%, more than doubled our headcount, established new offices and a New Business Ventures unit.” said Rovio CFO Herkko Soininen. “Also, to protect our own, as well as our partners’ and our fans’ interests, we continue to invest heavily in brand protection globally.”
“Rovio has grown from a phenomenon to a very successful global business. In 2010 we set out to build an entertainment company and after last years performance we are on a strong path to achieve our goal.” Mikael Hed, Rovio CEO said.
The financial outcome of 2012 is very positive for Rovio. The Games and Consumer Products business units have healthy growth and the company has made good progress with its entertainment business.
In 2012 Rovio launched four major chart topping games including Angry Birds Space, Amazing Alex, Bad Piggies and Angry Birds Star Wars catapulted the total number of Rovio game downloads to more than 1 billion in May 2012 and the total number of active monthly users, across all platforms, to 263 million in December, 2012. Driven by these launches Rovio’s Games business unit’s revenue continued to grow fast. The main revenue sources of the games business are paid games, virtual goods, and advertising.
The Consumer Products business unit’s revenue for 2012 was more than three times the revenue of 2011 and accounted for 45% of Rovio’s total revenue.
The number of employees grew from 224 to 518 during the year 2012.
Market and business development expectations
Future business will to a large extent depend on the success of new game launches, the company’s ability to keep its fans engaged with Rovio content and the success of new initiatives in 2013. The sales of new devices and fun, entertaining content remain the main drivers for mobile game downloads and Angry Birds Toons channel views. Rovio expects its business to continue to grow and by today, the total number of Rovio game downloads has exceeded 1.7 billion.
We have had a stellar start for this year. In addition to our successful games portfolio we recently launched our first Angry Birds Toons series through third party partners and our own in-game distribution channel. We will continue to strengthen our position in the entertainment business through continuing to innovate on our existing brands, exploring creating new IP as well as exploring opportunities with external parties, Mikael Hed said.”
Source: TechCrunch
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