SHARE
Angry Birds Dev Rovio Reports Profits Halved During “Foundation Building” Year.

According to a recent earnings report from Angry Birds developer, Rovio, the year 2013 wasn’t exactly a great one for profits. In what the Finnish company are calling a “foundation building” year they earned almost half of what they earned on 2012 despite releasing two new Angry Birds titles.

Yesterday Rovio revealed all in their earnings report which shows that the Finnish company didn’t exactly do that well in 2013. Here come the numbers! During the full 2013 calendar year Rovio earned €156 million ($216 million) in net revenue which was up from the €152.2 million ($211 million) earned last year. Net profit numbers, y’know the number that actually matters, was a little worse for wear.

Rovio’s full-year net income for 2013 was only €26.9 million ($37.3 million), which was around half of the €55.5 million ($76.9 million) that the company earned in 2012.

This year Rovio entered the free-to-play market with Angry Birds Go! and Angry Birds Star Wars 2 as well as forming an animation team in L.A. who are currently working on an Angry Birds Movie. It’s because of this, Rovio’s CFO Herkko Soininen is describing 2013 as a “foundation building” year.

“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,” he said in a statement.

Angry Birds is a massive IP with various merchandise available almost everywhere, there’s even several theme park attractions opening up based on the frustrated feathered friends.. I find it hard to believe that this is bad news for Rovio, right now. It’ll be interesting to see how their investments perform over the next couple of years and whether this time next year they’re still reporting losses.