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Rovio profits cut in half during 2013

Erik Johnson
Rovio profits cut in half during 2013

Angry Birds studio Rovio saw little growth in revenue and a significant dip in profits last year, the company's annual financial report reveals.

The company saw a year-on-year rise of just 2.5 per cent in total revenue for 2013, while profits before interest and taxes dropped to €36.5m – compared to €76.8m in 2012.

"After three years of very strong growth, 2013 was a foundation-building year," explained CFO Herkko Soininen.

"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."

Rovio also grew by 300 staff members in 2013, increasing its headcount from 500 to 800 during the year.

"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," said Soininen.

"Building on top of our games business, where we moved into free-to-play, Rovio set its foot strongly into the entertainment business," CEO Mikael Hed 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.”

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Tags: angry birds , rovio , financial results , 2013 , MCV USA

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