INTERNATIONAL - Rovio Entertainment, the maker of the Angry Birds mobile games franchise, said it expected sales to grow this year, buoyed by new game launches and a movie release, after its fourth-quarter adjusted operating profit halved.
Rovio, which got listed in Helsinki in September 2017, has been hit by its high dependency on the Angry Birds brand, first launched 2009, and tough competition.
The Finnish company reported fourth-quarter adjusted operating profit of 5.3 million euros ($6 million), halving from a year ago. Sales dipped 1.7 percent from a year ago to 72.7 million euros.
However, Rovio forecast for 2019 sales to rise to 300-330 million euros from 281.2 million last year, with adjusted operating profit margin falling to 9-11 percent level from 11.1 percent last year.
Rovio expanded into film with an Angry Birds movie in 2016, which earned about $350 million at the box office and the movie sequel is due in August.