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2021-10-28

Rovio Entertainment Corp.: Q3 interim report: Games – strong growth and high profitability

Rovio Entertainment Corporation        Stock Exchange Release                  28 October, 2021 9.00 EEST

Games – strong growth and high profitability

July-September 2021 highlights

  • Rovio group revenue was EUR 71.4 million (67.9) and increased 5.1% year-on-year. Organic growth was 3.6%.
  • Group adjusted operating profit was EUR 14.3 million (12.8) and adjusted operating profit margin 20.0% (18.9)
  • Group adjusted EBITDA was EUR 17.2 million (15.9) and adjusted EBITDA margin 24.1% (23.4)
  • Games revenue increased 6.9% year-on-year to EUR 68.6 million (64.2). Organic games revenue growth was 5.3%. In comparable currencies, Games revenue grew by 7.5%. The Games gross bookings were EUR 66.7 million (64.5) and increased by 3.3% year-on-year. In comparable currencies, the gross bookings grew by 3.9%.
  • Rovio closed the acquisition of Ruby Games first tranche (20% of shares) in September. Ruby Games soft launched Hunter Assassin 2.
  • Angry Birds Friends continued its strong performance and grew its gross bookings to EUR 8.5 million.
  • User acquisition investments were EUR 18.1 million (15.3) and 26.4% of the Games segment’s revenue (23.8%)
  • Operating cash flow was EUR 16.7 million (15.8)
  • Earnings per share were EUR 0.16 (0.12)
     

January–September 2021 highlights

  • Rovio group revenue was EUR 207.3 million (203.8) and increased by 1.7% year-on-year. Organic growth was 1.3%.
  • Group adjusted operating profit was EUR 30.5 million (39.7) and adjusted operating profit margin 14.7% (19.5)
  • Group adjusted EBITDA was EUR 38.2 million (47.9) and adjusted EBITDA margin 18.4% (23.5)
  • Games revenue increased 3.1% year-on-year to EUR 199.9 million (193.8). Organic growth was 2.6%. In comparable currencies, Games revenue grew by 7.7%. The Games gross bookings were EUR 197.4 million (194.4) and increased by 1.6% year-on-year. In comparable currencies, the gross bookings grew by 6.0%.
  • User acquisition investments were EUR 56.6 million (42.9) and 28.3% of the Games segment’s revenue (22.0%)
  • Operating cash flow was EUR 26.7 million (46.0)
  • Earnings per share were EUR 0.32 (0.38)

Key figures

  7-9/ 7-9/ Change, 1-9/ 1-9/ Change, 1-12/
EUR million 2021 2020 % 2021 2020 % 2020
Revenue 71.4 67.9 5.1% 207.3 203.8 1.7% 272.3
EBITDA 16.9 15.9 6.5% 37.4 47.8 -21.8% 60.0
EBITDA margin 23.7% 23.4%   18.0% 23.5%   22.0%
Adjusted EBITDA 17.2 15.9 8.4% 38.2 47.9 -20.2% 60.1
Adjusted EBITDA margin, % 24.1% 23.4%   18.4% 23.5%   22.1%
Operating profit 14.0 12.8
Författare GlobeNewswire