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Rovio’s Revenue Increased by 94 Percent in the Second Quarter

rovioRovio Entertainment Ltd.’s growth continued in the second quarter of this year, with the company’s revenue increasing to EUR 86.2 million. The year-on-year revenue increase was 94.0 percent, mainly due to the performance of Rovio’s games, and the revenue from The Angry Birds Movie release last May. During second quarter, Rovio also launched two new games: Battle Bay and Angry Birds Evolution.

The revenue of the games business unit increased by 65.0 percent and amounted to EUR 61.3 million. The growth was driven by a 30 percent increase in the number of monthly paying users, and a 51 percent increase in revenue per monthly paying user.

The revenue of the brand licensing business unit increased by 242.6 percent to EUR 24.9 million. The strong revenue growth was also due to revenues from The Angry Birds Movie.

In the second quarter, Rovio’s adjusted earnings before interest, tax, depreciation, and amortization (EBITDA) increased to EUR 31.6 million. The increase was mainly driven by the revenue growth of games and the revenue from The Angry Birds Movie. In the second quarter of this year, the adjusted EBITDA margin increased to 36.7 percent.

The adjusted EBITDA of the games business unit increased by 30.6 percent to EUR 13.5 million, and that of the brand licensing business unit increased to EUR 20.7 million. The EBITDA growth of the brand licensing business was also driven by revenues from The Angry Birds Movie.

In the first half of this year, Rovio’s revenue increased by 94.3 percent year-on-year, and totaled EUR 152.6 million. The revenue of the games business unit increased by 76.3 percent to EUR 117.9 million. The revenue of the brand licensing business unit increased by 197.8 percent and amounted to EUR 34.6 million.

Rovio’s adjusted EBITDA increased to EUR 41.8 million. The adjusted EBITDA of the games business unit increased by 33.9 percent to EUR 22.5 million. The adjusted EBITDA of the brand licensing business unit increased to EUR 24.3 million.

 Rovio’s operations are divided into two business units, which also constitute its reporting segments: games and brand licensing. The games business unit consists of Rovio’s mobile games business, and the brand licensing business unit consists of two sub-units, consumer products and content licensing, which generate royalty revenues from licensing the Angry Birds brand to product categories other than mobile games.

In addition, Rovio has a third reporting segment, “other”, which consists of Hatch Entertainment Oy, 80 percent of which is owned by Rovio, and unallocated group overhead costs.

 

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