Rovio Entertainment has grown profitably in the first half of 2016, even before the profits from the blockbuster Angry Birds Movie have hit the books. The company earned 76,4 mEUR in revenue in the first half, a 10,3 mEUR year-on-year improvement, finishing the first half with an EBIT result of 5,7 mEUR, a 15,9 mEUR improvement over the same period last year.
Rovio’s games business is thriving with year-on-year revenue growth of 24 per cent. Rovio’s animation business saw the globally successful theatrical release of The Angry Birds Movie, which opened in the No. 1 position in 52 countries, including the massive Chinese and U.S. markets. The Angry Birds Movie has so far grossed more than 347 million dollars at the box office globally. The movie will open in Japan October 1.
“With the excellent performance of our games portfolio and the fantastic movie, the Angry Birds brand is flying high and we are seeing positive EBIT and cash flow development, while fulfilling our mission to create world class entertainment,” says CEO Kati Levoranta. “We currently have several exciting new games and other projects in development, including new IP, and we have started planning the sequel to The Angry Birds Movie.”
The Angry Birds Movie was released digitally in selected Asian markets and North America on July 29, where it quickly went to No. 1 on iTunes, followed by DVD and Blu-ray releases on August 16. The in-home release of the film in other countries and territories continues to roll out in the weeks ahead, with most of Europe seeing the in-home release in September.