Rovio sees profits halve in 2013

But the Angry Birds studio is 'laying the foundations for very strong growth to come.'
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Angry Birds creators, Rovio has revealed little growth in revenue and a significant dip in profits in the firm’s 2013 financial report.

The firm saw a year on year rise of 2.5 per cent in total revenue for 2013, as profits before interest and taxes dropped to €36.5m.

That’s nearly half of 2012’s €76.8m.

“After three years of very strong growth, 2013 was a foundation-building year,” said CFO Herkko Soininen.

“We invested in new business areas, such as animation and video distribution, ventured into new business models in games and consolidated our strong market position in consumer products licensing.

“With these investments we have been gearing up for the future growing markets.”

Despite the drop in profits, Rovio also expanded its staff by 300 last year, increasing its headcount from 500 to 800 during the year, reports MCV.

"Future business will, for the most part, depend on how well last year's investments perform and how our new properties delight our audiences. We are actively investing in the company to increase our capabilities for the future, and this year will see exciting new content and services coming from all our business areas," said Soininen.

"Building on top of our games business, where we moved into free-to-play, Rovio set its foot strongly into the entertainment business," CEO Mikael Hed added.

"Angry Birds has exceeded two billion downloads so far, making it the most downloaded game brand ever. We're creating long lasting business, and strongly believe our entertainment strategy will consolidate Rovio's position as one of the world's most beloved brands.”

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