Angry Birds maker Rovio flying high on 101pc revenue increase

4 Apr 2013

Angry Birds creator Rovio has something to crow about: a 101pc increase in total consolidated full-year revenue, thanks to growth in games revenue and sales of consumer products, which reached €152.2m in 2012, compared to €75.6 in 2011.

The company, in reporting its 2012 financial results, revealed earnings before interest and taxes (EBIT) of €76.8m, up 64pc from 2011’s €46.9m.

Net profit after tax also rose from 2011, from €35.4m to €55.5m in 2012.

“The year 2012 was another record-breaking year for Rovio,” said Rovio CFO Herkko Soininen.

“We doubled our revenue with an EBIT margin of 50pc, more than doubled our headcount (to 518 from 224), established new offices and a New Business Ventures unit.

“Also, to protect our own, as well as our partners’ and our fans’ interests, we continue to invest heavily in brand protection globally.”

In 2012, Rovio launched four chart-topping games, Angry Birds Space, Amazing Alex, Bad Piggies and Angry Birds Star Wars, which launched the total number of Rovio game downloads to more than 1bn in May 2012, and the total number of active monthly users, across all platforms, to 263m in December 2012, the company said.

Driven by these launches, Rovio’s Games business unit’s revenue grew quickly, with its main sources being 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 45pc of Rovio’s total revenue.

Tina Costanza was a journalist and sub-editor at Silicon Republic