Both licensing and games divisions offer positive year on year growth.
Rovio Entertainment has continued its positive growth for the first quarter of 2017 – with both the games and licensing divisions performing well.
The company posted revenue of €66.3m for the period – year on year growth of 94.4% and 1.2% growth compared to Q4 2016.
First quarter Earnings Before Interests and Tax (EBIT) was €5.2m – a €4.3m improvement over the same period last year.
The games business unit generated an impressive €56.6m in revenue (Q 2016: €29.7m), with EBIT increasing to €8.8m (Q1 2016: €5.7m).
Meanwhile, the licensing unit – including consumer products and content licensing – generated €9.7m in revenue (Q1 2016: €4.4m).
Kati Levoranta, ceo of Rovio Entertainment, stated: “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.”
Kati continued: “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.”
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