Rovio Entertainment (Angry Birds) revenue up 101%

Rovio has released news on their financial state and it’s all good. In short everything is up and 45% of their business is not even their games but their other products you see everywhere.

Rovio Entertainment Ltd, the world’s leading provider of mobile entertainment and creator of the Angry Birds franchise, today had the pleasure of announcing its financial results for the full calendar year of 2012.

Total consolidated full year revenue grew by 101%, driven by a healthy growth in games revenue and consumer product sales, and amounted to €152.2 million (2011: €75.6 million). Earnings before interest and taxes (EBIT) were €76.8 million (2011: €46.9 million), up 64% from year 2011, and net profit after tax was €55.5 million (2011: €35.4 million).
“Year 2012 was another record-breaking year for Rovio. We doubled our revenue with an EBIT margin of 50%, more than doubled our headcount, established new offices and a New Business Ventures unit.” said Rovio CFO Herkko Soininen. “Also, to protect our own, as well as our partners’ and our fans’ interests, we continue to invest heavily in brand protection globally.”

"Rovio has grown from a phenomenon to a very successful global business. In 2010 we set out to build an entertainment company and after last years performance we are on a strong path to achieve our goal.” Mikael Hed, Rovio CEO said.