First quarter of 2016 shows successful turnaround for Rovio Entertainment after expected difficult 2015
Positive outlook for 2016 including launch of the major global motion picture The Angry Birds Movie this May.
Rovio Entertainment announced today its financial results for 2015. Revenue for the year was 142M EUR and the operating loss -13M EUR, excluding non-recurring items. Rovio´s games business grew for the sixth consecutive year, accounting for 80 per cent of total revenue.
“As expected, 2015 was a challenging year for Rovio partly due to heavy investments in our future success. However, we have managed to improve our efficiency and turn around the company. This year’s first quarter is already profitable and the outlook for the rest of the year is positive,” says Kati Levoranta, Chief Executive Officer of Rovio Entertainment. “2016 is a transformative year for Rovio highlighted by the release of our major global feature film The Angry Birds Movie this May. Expectations for the film are very strong.”
"It has long been our dream to take Angry Birds to the big screen," says Mikael Hed, Chairman of Rovio Animation Company. "I am so proud of the movie. It has a great, funny story, brought to life by an amazing cast accompanied by gorgeous animation and music. I can't wait for everyone to see it."
The Angry Birds Movie will open in movie theaters around the world in May.
Chief Financial Officer Tomi Närhinen is available for further comment today on April 6, 2016, from 1200 to 1300 EET. Telephone Kaisu Karvala, +358 40 5715990.
About Rovio
Rovio Entertainment Ltd. is a global entertainment media company. Headquartered in Finland and with studios across the world, Rovio 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 game of all time, it is a renowned entertainment brand that has branched out into animation, licensing and more. The Angry Birds Movie is slated for release in May 2016. www.rovio.com