Rovio's financial highlights
Quarterly figures Q1 2016 - Q4 2018
Outlook and guidance

上海时时乐走势图网:Rovio's financial highlights

? 1.1.–31.12.
Key financial metrics 2018 2017 2016 2015
? (IFRS) (IFRS) (IFRS) (IFRS)
MEUR (unless otherwise stated) ? ? ? ?
? ? ? ? ?
Revenue 281.2 297.2 191.7 142.1
Games 250.4 248.0 159.0 113.5
Brand Licensing 30.8 49.2 32.7 28.6
? ? ? ? ?
EBITDA[1] 47.8 60.0 35.4 -6.5
Games 40.5 43.2 39.8 11.1
Brand Licensing 20.8 30.1 5.8 -5.9
Other -13.4 -13.2 -10.2 -11.7
EBITDA margin. % 17.0% 20.2% 18.5% -4.5%
? ? ? ? ?
Adjusted EBITDA[2] 47.5 64.5 35.4 -3.2
Games 40.8 43.2 39.8 12.8
Brand Licensing 20.8 31.9 5.8 -4.7
Other -14.1 -10.7 -10.2 -11.3
Adjusted EBITDA margin. % 16.9 21.7% 18.5% -2.3%
? ? ? ? ?
Operating profit[3] 31.5 31.4 16.9 -21.6
Games 38.3 38.4 28.9 3.6
Brand Licensing 7.0 6.4 -1.7 -13.6
Other -13.8 -13.5 -10.3 -11.6
Operating profit margin. % 11.2 10.6% 8.8% -15.2%
? ? ? ? ?
Adjusted operating profit[4] 31.2 35.9 16.9 -18.3
Games 38.6 38.5 28.9 5.3
Brand Licensing 7.0 8.3 -1.7 -12.3
Other -14.5 -11.0 -10.3 -11.2
Adjusted operating profit margin. % 11.1% 12.1% 8.8% -12.9%
? ? ? ? ?
Profit (loss) for the period 24.6 20.6 10.6 -18.1
Earnings per share. EUR 0.31 0.27 0.14 -0.24
? ? ? ? ?
Equity ratio. %[5] 83.7% 77.9% 64.1% 59.1%
Capital expenditure[6] 1.3 8.5 23.3 43.9

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Quarterly figures Q1 2016 - Q4 2018

Rovio Group

EUR million Q1'16 Q2'16 Q3'16 Q4'16 Q1'17 Q2'17 Q3'17 Q4'17 Q1'18 Q2'18 Q3'18 Q4'18
Revenue 34.1 44.5 50.0 63.2 66.3 86.2 70.7 73.9 65.7 71.8 71.0 72.7
? ? ? ? ? ? ? ? ? ? ? ? ?
EBITDA 2.4 8.6 8.5 15.9 10.2 29.7 6.1 14.0 14.3 9.3 15.0 9.3
? ? ? ? ? ? ? ? ? ? ? ? ?
Depreciation & Amortization 1.7 2.5 3.4 10.9 4.9 15.6 4.5 3.6 5.1 3.3 4.6 3.4
? ? ? ? ? ? ? ? ? ? ? ? ?
Operating profit (EBIT) 0.7 6.1 5.2 4.9 5.3 14.1 1.6 10.4 9.2 6.0 10.4 5.9
? ? ? ? ? ? ? ? ? ? ? ? ?
Adjusted EBITDA 2.4 8.6 8.5 15.9 10.2 31.6 8.6 14.1 14.6 9.3 15.0 8.6
Adjustments to EBITDA 0.0 0.0 0.0 0.0 0.0 2.0 2.5 0.1 0.3 - - 0.7
? ? ? ? ? ? ? ? ? ? ? ? ?
Adjusted EBIT 0.7 6.1 5.2 4.9 5.3 16.1 4.0 10.5 9.6 6.0 10.4 5.3
Adjustments to EBIT 0.0 - 0.0 - 0.0 2.0 2.5 0.1 0.3 - - 0.7

Games

EUR million Q1'16 Q2'16 Q3'16 Q4'16 Q1'17 Q2'17 Q3'17 Q4'17 Q1'18 Q2'18 Q3'18 Q4'18
? ? ? ? ? ? ? ? ? ? ? ? ?
Revenue 29.7 37.2 45.7 46.5 56.6 61.3 63.9 66.1 56.8 65.3 63.1 65.2
? ? ? ? ? ? ? ? ? ? ? ? ?
User Acquisition 2.3 2.8 5.4 7.7 16.4 15.1 22.2 15.9 14.6 22.9 17.8 23.3
? ? ? ? ? ? ? ? ? ? ? ? ?
EBITDA 6.5 10.3 12.4 10.5 9.0 13.4 6.7 14.0 10.3 9.2 12.7 8.3
? ? ? ? ? ? ? ? ? ? ? ? ?
Depreciation & Amortization 0.9 1.7 2.4 5.9 0.4 2.5 0.9 0.9 0.6 0.5 0.5 0.6
? ? ? ? ? ? ? ? ? ? ? ? ?
Operating profit (EBIT) 5.6 8.7 10.0 4.7 8.6 10.9 5.8 13.1 9.8 8.7 12.1 7.8
? ? ? ? ? ? ? ? ? ? ? ? ?
Adjusted EBITDA 6.5 10.3 12.4 10.5 9.0 13.5 6.7 14.0 10.6 9.2 12.7 8.3
Adjustments to EBITDA - - - - 0.0 0.1 - - 0.3 - - -
? ? ? ? ? ? ? ? ? ? ? ? ?
Adjusted EBIT 5.6 8.7 10.0 4.7 8.6 11.0 5.8 13.1 10.1 8.7 12.1 7.8
Adjustments to EBIT - - - - 0.0 0.1 - - 0.3 - - -

Brand Licensing

EUR million Q1'16 Q2'16 Q3'16 Q4'16 Q1'17 Q2'17 Q3'17 Q4'17 Q1'18 Q2'18 Q3'18 Q4'18
? ? ? ? ? ? ? ? ? ? ? ? ?
Revenue 4.4 7.3 4.3 16.7 9.7 24.9 6.7 7.8 8.9 6.5 7.9 7.5
Consumer product 3.1 6.0 3.2 8.2 2.8 2.5 1.9 4.0 1.7 2.4 1.5 2.8
Content licensing 1.3 1.3 1.2 8.5 6.9 22.4 4.8 3.8 7.1 4.0 6.4 4.6
? ? ? ? ? ? ? ? ? ? ? ? ?
EBITDA -1.9 0.9 -1.9 8.7 3.6 18.8 4.0 3.7 6.6 3.6 5.6 5.0
? ? ? ? ? ? ? ? ? ? ? ? ?
Depreciation & Amortization 0.9 0.8 0.9 5.0 4.5 13.0 3.6 2.6 4.4 2.6 4.0 2.7
? ? ? ? ? ? ? ? ? ? ? ? ?
Operating profit (EBIT) -2.7 0.1 -2.8 3.7 -0.9 5.8 0.4 1.1 2.2 1.0 1.6 2.3
? ? ? ? ? ? ? ? ? ? ? ? ?
Adjusted EBITDA -1.9 0.9 -1.9 8.7 3.6 20.7 4.0 3.7 6.6 3.6 5.6 5.0
Adjustments to EBITDA - - - - 0.0 1.9 - - - - - ?
? ? ? ? ? ? ? ? ? ? ? ? ?
Adjusted EBIT -2.7 0.1 -2.8 3.7 -0.9 7.7 0.4 1.1 2.2 1.0 1.6 2.3
Adjustments to EBIT - - - - 0.0 1.9 - - - - - ?

Other

EUR million Q1'16 Q2'16 Q3'16 Q4'16 Q1'17 Q2'17 Q3'17 Q4'17 Q1'18 Q2'18 Q3'18 Q4'18
? ? ? ? ? ? ? ? ? ? ? ? ?
EBITDA -2.2 -2.7 -2.0 -3.3 -2.3 -2.6 -4.6 -3.7 -2.6 -3.6 -3.2 -4.0
? ? ? ? ? ? ? ? ? ? ? ? ?
Depreciation & Amortization -0.0 0.0 0.0 0.1 0.1 0.0 0.1 0.1 0.1 0.1 0.1 0.1
? ? ? ? ? ? ? ? ? ? ? ? ?
Operating profit (EBIT) -2.2 -2.7 -2.0 -3.4 -2.4 -2.6 -4.7 -3.8 -2.7 -3.7 -3.4 -4.1
? ? ? ? ? ? ? ? ? ? ? ? ?
Adjusted EBITDA -2.2 -2.7 -2.0 -3.3 -2.3 -2.6 -2.1 -3.7 -2.6 -3.6 -3.2 -4.0
Adjustments to EBITDA - - - - 0.0 0.0 2.5 0.1 - - - -
? ? ? ? ? ? ? ? ? ? ? ? ?
Adjusted EBIT -2.2 -2.7 -2.0 -3.4 -2.4 -2.6 -2.2 -3.8 -2.7 -3.7 -3.4 -4.1
Adjustments to EBIT - - - - 0.0 0.0 2.5 0.1 - - - -

Outlook and guidance

Outlook for 2019

In 2019, Rovio expects group revenues to grow to EUR 300 – 330 million and adjusted operating profit margin between 9 and 11 per cent.

Basis for outlook

In 2019, Rovio Games business continues developing its live game portfolio according to the Games as a Service strategy, profitable user acquisition and development of new games. Target is to launch at least two new games in 2019 (the first one, Angry Birds Dream Blast, was launched on January 24th). The expected timing of the second launch is during the second half of the year.

The user acquisition investments are expected to be around 30 percent of Games revenues for the full year with payback target of 12 months. The amount of user acquisition may vary depending on development of the games’ monetization, timing of new game launches and the level of competition in the market.

The Brand Licensing segment revenues are expected grow in 2019 with focus on the second half of the year when the Angry Birds Movie sequel is scheduled for release.

The first half of 2019 is expected to have revenues at a similar level or slightly better than the last half of 2018 while the profit is less than the average for the whole year of 2019. Overall, the largest revenue growth and profit contribution is expected from the second half of 2019.? The profit margin excluding Hatch Entertainment is expected to be between 12 and 14 per cent.

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[1] EBITDA (earnings before interest, taxes, depreciation and amortization) is defined as operating profit before depreciations and amortizations.

[2] Adjusted EBITDA is defined as EBITDA excluding items affecting comparability. Items affecting comparability are defined as material items outside ordinary course of business such as material net gains and losses from business disposals, direct transaction costs related to business acquisitions, restructuring costs for business operations, and costs relating to enlargement of the ownership base of the company.

[3] Operating profit is defined as profit (loss) for the period before income taxes, share of profit of associates, and finance income and expenses.

[4] Adjusted operating profit is defined as operating profit excluding items affecting comparability.

[5] Equity ratio is calculated by dividing shareholder’s equity by balance sheet total less advance payments received.

[6] Capital expenditure, which is net cash flow from investments in Property, plant and equipment and Intangible assets.