Rovio continues its growth path in first quarter of 2017
Rovio posted good first quarter 2017 results with 66.3 mEUR in revenue, a 94.4% year-on-year growth and 1.2% growth compared to Q4/2016. First quarter Earnings Before Interests and Taxes (EBIT) was 5.2 mEUR, a 4.3 mEUR improvement over the same period last year.
Rovio´s Games Business Unit generated an impressive 56.6 mEUR in revenue (29.7 mEUR in Q1/2016) with EBIT increasing to 8.8 mEUR (5.7 mEUR in Q1/2016).
“The Q1 results indicate that the positive trend from 2016 is continuing. We have become more focused and improved our efficiency, which further strengthens our ability to continue on a profitable growth path. I am very happy that our Angry Birds games franchise and especially Angry Birds 2, Angry Birds Blast and Angry Birds Friends are performing extremely well. We are also excited to see our new game with a new IP, the Battle Bay, releasing May 4 across the globe,” said Kati Levoranta, CEO of Rovio Entertainment.
The Brand Licensing Unit, that includes consumer products and content licensing, generated 9.7 mEUR in revenue (4.4 mEUR in Q1/2016) with EBIT increasing to -0.7 mEUR (-2.7 mEUR in Q1/2016).
“We also expect to see revenue growth in 2017 from the recognition of Angry Birds movie revenues, that will have a direct impact on the revenue of our Brand Licensing Unit,” Levoranta continues.
Rovio Entertainment Ltd., based in Espoo, Finland, is the creator of Angry Birds, the casual mobile game that changed an industry and became an international phenomenon. Today Angry Birds is not only the most downloaded series of games of all time, it is a renowned entertainment brand that has branched out into animation, licensing and more. The Angry Birds Movie was released in May 2016. www.rovio.com