Quarterly figures Q1 2016 - Q2 2019
Rovio's financial highlights
Outlook and guidance

上海时时乐带线走势图:Quarterly figures

Q1 2016 - Q2 2019

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 Q1'19 Q2'19
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 70.9 71.8
? ? ? ? ? ? ? ? ? ? ? ? ? ? ?
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 10.5 9.6
? ? ? ? ? ? ? ? ? ? ? ? ? ? ?
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 3.0 4.3
? ? ? ? ? ? ? ? ? ? ? ? ? ? ?
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 7.5 5.3
? ? ? ? ? ? ? ? ? ? ? ? ? ? ?
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 10.5 9.6
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 7.5 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 Q1'19 Q2'19
? ? ? ? ? ? ? ? ? ? ? ? ? ? ?
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 66.3 65.4
? ? ? ? ? ? ? ? ? ? ? ? ? ? ?
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 23.7 21.3
? ? ? ? ? ? ? ? ? ? ? ? ? ? ?
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 11.2 10.5
? ? ? ? ? ? ? ? ? ? ? ? ? ? ?
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 1.0 1.1
? ? ? ? ? ? ? ? ? ? ? ? ? ? ?
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 10.1 9.5
? ? ? ? ? ? ? ? ? ? ? ? ? ? ?
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 11.2 10.5
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 10.1 9.5
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 Q1'19 Q2'19
? ? ? ? ? ? ? ? ? ? ? ? ? ? ?
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 4.6 6.4
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 1.4 1.1
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 3.2 5.2
? ? ? ? ? ? ? ? ? ? ? ? ? ? ?
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 2.5 3.7
? ? ? ? ? ? ? ? ? ? ? ? ? ? ?
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 1.9 3.1
? ? ? ? ? ? ? ? ? ? ? ? ? ? ?
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 0.6 0.6
? ? ? ? ? ? ? ? ? ? ? ? ? ? ?
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 2.5 3.7
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 0.6 0.6
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 Q1'19 Q2'19
? ? ? ? ? ? ? ? ? ? ? ? ? ? ?
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 -3.2 -4.6
? ? ? ? ? ? ? ? ? ? ? ? ? ? ?
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 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 -3.3 -4.7
? ? ? ? ? ? ? ? ? ? ? ? ? ? ?
Adjusted EBITDA -2.2 -2.7 -2.0 -3.3 -2.3 -2.6 -2.1 -3.7 -2.6 -3.6 -3.2 -4.7 -3.2 -4.6
Adjustments to EBITDA - - - - 0.0 0.0 2.5 0.1 - - - -0.7 - ?
? ? ? ? ? ? ? ? ? ? ? ? ? ? ?
Adjusted EBIT -2.2 -2.7 -2.0 -3.4 -2.4 -2.6 -2.2 -3.8 -2.7 -3.7 -3.4 -4.8 -3.3 -4.7
Adjustments to EBIT - - - - 0.0 0.0 2.5 0.1 - - - -0.7 - ?

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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

Outlook and guidance

2019 outlook

In 2019, Rovio expects group revenues to grow to EUR 295 – 310 million (2018: EUR 281 million) and adjusted operating profit margin to be between 5 and 8 per cent (2018: 11.1 per cent).?

Basis for outlook

The lower adjusted EBIT margin boundary is associated with the upper revenue boundary? which is a result of higher user acquisition investments, and vice versa.

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. Rovio has launched two new games during the first three quarters of 2019: Angry Birds Dream Blast was launched on January 24th and Sugar Blast on September 5th, 2019.

The user acquisition investments are expected to be 35-40 percent of Games’ revenues for the full year with an average payback time of 12 months. The amount of user acquisition may vary depending on the development of the games’ monetization and the level of competition in the market.?

The Brand Licensing segment revenues are expected to be at a similar or slightly higher level in 2019 with focus on the second half of the year after the release of the Angry Birds Movie sequel.

On group level the largest revenue growth is expected during the second half of 2019.? The profit margin excluding Hatch Entertainment is expected to be between 8 and 11 per cent for the full year.


?

[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.