Angry Birds maker Rovio reports $71m in net profit on $195m in revenue for 2012

Angry Birds maker Rovio reports $71m in net profit on $195m in revenue for 2012

Rovio, the Finnish game studio behind the hit Angry Birds series of mobile and Web games and a range of other digital content, has just announced its financial results for the full calendar year of 2012.

In 2012, Rovio booked sales of €152.2 million or $195 million, up from €75.6 million ($96.9 million) in revenue the year before, a 101% jump. Its main revenue sources remain paid games, virtual goods and advertising, although merchandising is closing in and might even make up the bulk of Rovio’s revenue in the future.

The company’s net profit for the year was €55.5 million or $71 million, up from €35.4 million ($45.4 million) in 2011. That’s a 57% increase.

Here’s the gist as far as Rovio’s finances go:

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).

Rovio CFO Herkko Soininen commented on the results thusly:

__thumb_-2-Rovio with birds

“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.

Also, to protect our own, as well as our partners’ and our fans’ interests, we continue to invest heavily in brand protection globally.”

We’re not quite sure what that last statement means, exactly, but my guess is we’ll soon find out (it’s in there for a reason I daresay).

Games like Angry Birds Space, Amazing Alex, Bad Piggies and Angry Birds Star Wars catapulted the total number of Rovio game downloads to more than 1 billion in May 2012. Today, Rovio claims that number has surpassed the 1.7 billion mark.

The company ended last year on a high note as well, hitting a total of active monthly users across all platforms of 263 million in December, 2012.

Rovio says its ‘Consumer Products’ (merchandising) business unit’s revenue for 2012 was more than three times the revenue of 2011, and accounted for 45 percent of the company’s overall revenue.

Rovio’s number of employees grew from 224 to 518 in 2012.

If you’re interested in learning more about the company, its origins and strategy, you’re invited to read my profile on Rovio.

Also read:

‘Despicable Me’ producer John Cohen signs on for Rovio’s Angry Birds movie, coming Summer 2016

Rovio’s Angry Birds soda now on sale in Russia, Australia, New Zealand and Spain, UK coming soon

Rovio launches ‘The Croods’ movie tie-in game on iOS and Android

Rovio’s new cartoon Web series Angry Birds Toons to begin on March 16

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