Business
Tools
Typography
Kati Levoranta, the CEO of Rovio, says the first-quarter performance of the games-first entertainment studio was on par with expectations.
Kati Levoranta, the CEO of Rovio, says the first-quarter performance of the games-first entertainment studio was on par with expectations.

 

Rovio on Thursday revealed that it achieved an adjusted operating profit of 9.6 million euros on net sales of 65.7 million euros between January and March.

The games-first entertainment studio thereby almost doubled its first-quarter operating profit from the corresponding period one year earlier, despite recording a roughly one per cent decrease in net sales. Its first-quarter profit margin, as a result, improved from 8.0 per cent in 2017 to 14.6 per cent in 2018.

Rovio reported an operating profit of 5.3 million euros on net sales of 66.3 million euros between January and March 2017.

Kati Levoranta, the chief executive of the entertainment studio, says the first-quarter result was on par with expectations.

“Our top game Angry Birds 2 achieved record revenues and Angry Birds Friends continued its steady performance. Revenues from the Angry Birds Movie grew somewhat year-on-year and although we got some headwind from the currency exchange rates, our profitability improved considerably year-on-year,” she says in the interim report.

Levoranta also expresses her confidence that the company has the expertise and passion required to stay on the cutting edge of game development.

“We have currently ten games in different development phases, one of which is a soft launch,” she reveals. “We strive to grow our revenues and [increase] investments in user acquisition through improving the performance of key games and efficiency of our marketing.”

Rovio also stated that the sequel to its full-length animated film is set for its theatrical release in September 2019.

“We believe that the sequel will bring further opportunities to license our brand to both new and existing consumer products and content licensing partners,” comments Levoranta.

The Angry Birds Movie, she adds, helped the company's partners to sell 260 licensed products in 2016 and 150 million products in 2017.

Aleksi Teivainen – HT
Photo: Handout/Rovio

Finland in the world press

Helsinki Finland Mostly Cloud (day), 12 °C
Current Conditions
Sunrise: 4:26 am   |   Sunset: 10:8 pm
69%     6.3 m/s     34.744 bar
Forecast
Mon Low: 8 °C High: 14 °C
Tue Low: 10 °C High: 17 °C
Wed Low: 11 °C High: 19 °C
Thu Low: 11 °C High: 16 °C
Fri Low: 9 °C High: 16 °C
Sat Low: 9 °C High: 18 °C
Sun Low: 11 °C High: 21 °C
Mon Low: 12 °C High: 21 °C
Tue Low: 12 °C High: 22 °C
Wed Low: 12 °C High: 22 °C

Partners