Angry Birds maker Rovio needs new games to revitalize sales

Rovio grew rapidly after the 2009 launch of the original ‘Angry Birds’ game. (AFP)
Updated 16 November 2018

Angry Birds maker Rovio needs new games to revitalize sales

  • Rovio said tough competition and high marketing costs would put pressure on its full-year outlook
  • Rovio grew rapidly after the 2009 launch of the original ‘Angry Birds’ game

HELSINKI: Rovio Entertainment, the maker of the “Angry Birds” mobile game, on Friday said the company needed to come up with new games to drive growth and warned that sales would fall this year after reporting higher third-quarter profits.
The Finnish company, which listed its shares on the stock market in Helsinki last year, reported third-quarter adjusted operating profit of €10.4 million ($11.8 million), up from €4 million a year ago.
But Rovio said tough competition and high marketing costs would put pressure on its full-year outlook. The group said it expected 2018 sales to be between €280 million and €290 million, compared with a previous range of €260 million and €300 million. Last year, the company had revenues of €297 million.
“It is clear that we need new games in order to accelerate growth,” Rovio’s Chief Executive Kati Levoranta said in a statement, adding that the company planned to launch at least two new games next year and had another ten projects in the pipeline.
Rovio grew rapidly after the 2009 launch of the original “Angry Birds” game, in which players used slingshots to attack pigs who stole birds’ eggs. The company expanded into film with an Angry Birds movie in 2016, but more recently has been hit by its high dependency on the Angry Birds brand and tough competition.
After its initial public offering in September 2017, Rovio’s shares dropped 50 percent in February after the company said its sales could fall this year after 55 percent growth in 2017.
Rovio expects a movie sequel to boost business next year and the company has also stepped up investments in its spin-off company Hatch, which is building a Netflix-style streaming service for mobile games.
Full-year core operating profit margin is seen at 10-11 percent, up from a previous view of 9-11 percent.


Britain must accept EU standards if it wants full market access: Germany’s Maas

Updated 29 January 2020

Britain must accept EU standards if it wants full market access: Germany’s Maas

  • ‘By the end of the year, we need to be clear on the shape of our relationship’
  • Referring to the Beatles song “Hello, goodbye,” Maas said that both sides had sorted out the goodbye

BERLIN: Britain will have to compromise on issues such as consumer rights and environment protection if it wants to maintain full access to the European Union’s single market, German Foreign Minister Heiko Maas said on Wednesday.
“By the end of the year, we need to be clear on the shape of our relationship,” Maas wrote in a guest article in German weekly Die Zeit in reference to the post-Brexit transition period.
“So let me say very openly: Yes, we all want zero tariffs and zero trade barriers, but that also means zero dumping and zero unfair competition. Without similar standards to protect our workers, our consumers and the environment, there can be no full access to the largest single market in the world.”
Britain and the European Union will therefore have to conduct the negotiations on their post-Brexit economic relations in a way that “won’t harm the European Union,” Maas said.
Turning to security and defense policies, the minister said that Britain and the EU needed to develop new forms of cooperation, for example by creating a European Security Council.
Such a council could help coordinate joint positions on strategic issues of European security and to respond more quickly to international crises. “We are working with France to flesh out this idea as quickly as possible in order to build a foundation for our future relationship,” Maas wrote.
The German minister also suggested that the EU’s door would always remain open for Britain to come back.
Referring to the Beatles song “Hello, goodbye,” Maas said that both sides had sorted out the goodbye.
“But should this farewell ever turn out to be less final than anticipated, rest assured that we will always have a place for you at our table in Brussels and in our hearts,” he added.