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2020-08-14

Rovio Entertainment Corp.: Record quarterly revenue for Games and high profitability

Rovio Entertainment Corporation        Stock Exchange Release         August 14, 2020 at 9.00 a.m. EEST

Record quarterly revenue for Games and high profitability

April-June 2020 highlights

  • Rovio group revenue was EUR 69.2 million (71.8) and declined 3.6% year-on-year due to lower movie revenues
  • Group adjusted operating profit grew to EUR 13.8 million (5.3) and adjusted operating profit margin to 20.0% (7.4%) due to stable revenues of key games, increased player engagement due to Covid-19 and lower level of user acquisition
  • Games revenue grew 2.2% year-on-year to EUR 66.9 million (65.4). In comparable currencies, games revenue grew by approximately by 1%. The Games gross bookings were EUR 67.7 million (65.2) and grew 3.9% year-on-year. In comparable currencies, the gross bookings grew by approximately 2%
  • Angry Birds 2 gross bookings were EUR 28.8 million and increased by 15% from Q120
  • Rovio launched a new narrative puzzle game Small Town Murders on 10th June
  • Rovio acquired Darkfire Games studio in Copenhagen, Denmark
  • Rovio established a new game studio to explore future of gaming in Montreal, Canada
  • User acquisition investments were EUR 14.0 million (21.3), or 20.9% of the Games segment’s revenue (32.6%)
  • Brand Licensing revenue was EUR 2.3 million (6.4) and declined 63.7% year-on-year due to lower movie revenues
  • Group adjusted operating profit excluding Hatch Entertainment was EUR 15.6 million (8.1) and adjusted operating profit margin 22.5% (11.3%)
  • Operating cash flow was EUR 18.7 million (4.8)
  • Earnings per share was EUR 0.15 (0.04)

January-June 2020 highlights

  • Rovio group revenue was EUR 135.8 million (142.6) and declined 4.8% year-on-year due to lower movie revenues
  • Group adjusted operating profit grew to EUR 26.9 million (12.8) and adjusted operating profit margin to 19.8% (9.0%)
  • Games revenue declined by 1.6% year-on-year to EUR 129.6 million (131.7). In comparable currencies, games revenue declined by approximately by 2%. The Games gross bookings were EUR 129.8 million (131.0) and declined 0.9% year-on-year. In comparable currencies, the gross bookings declined by approximately 2%.
  • User acquisition investments were EUR 27.5 million (45.1), or 21.2% of the Games segment’s revenue (34.2%)
  • Brand Licensing revenue was EUR 6.2 million (11.0) and declined 43.7% year-on-year
  • Group adjusted operating profit excluding Hatch Entertainment was EUR 31.4 million (17.4) and adjusted operating profit margin 23.1% (12.2%)
  • Operating cash flow was EUR 30.2 million (8.0)
  • Earnings per share was EUR 0.26 (0.11)

Key figures

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 4-6/4-6/Change,1-6/ 1-6/Change,
EUR million20202019%20202019%
Revenue69.271.8-3.6 %135.8142.6-4.8 %
EBITDA16.19.666.9 %31.920.158.8 %
EBITDA margin23.2 %13.4 %-23.5 %14.1 %-
Adjusted EBITDA15.99.664.6 %32.020.159.3 %
Adjusted EBITDA margin, %22.9 %13.4 %-23.6 %14.1 %-
Operating profit14.15.3164.3 %26.812.8109.6 %
Operating profit margin, %20.3 %7.4 %-19.7 %9.0 %-
Adjusted operating profit13.85.3160.1 %26.912.8110.3 %
Adjusted operating profit margin, %20.0 %7.4 %-19.8 %

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