Brief: Rovio Entertainment 2023 Outlook Is Unchanged

Rovio Entertainment Oyj

11/08/2023 07:27

Aug 11 (Reuters) - Rovio Entertainment Oyj  ROVIO.HE :
    * ROVIO ENTERTAINMENT CORP.: HALF-YEAR 2023 FINANCIAL
REPORT: SOFT
QUARTER IN A DECLINING MARKET – NEW GAMES APPROACHING LAUNCH
WINDOW
    * Q2 OF 2023 WAS A CHALLENGING PERIOD IN MOBILE GAMING
MARKET, AND
WE COULD FEEL EFFECT IN OUR RESULTS AS WELL
    * 2023 OUTLOOK (UNCHANGED) WE EXPECT OUR COMPARABLE REVENUE
AND
ADJUSTED OPERATING PROFIT TO BE AT LAST YEAR'S LEVEL
    * OUR FINANCIAL DEVELOPMENT WAS ALSO IMPACTED BY LACK OF
RELEASES
SO FAR THIS YEAR
    * USER ACQUISITION INVESTMENTS IN Q3 2023 ARE EXPECTED TO BE
25-30% OF GAMES' REVENUES
    * ANGRY BIRDS 2 HAD A SOFT Q2, BUT Q3 STARTED STRONGER
    * Q2 WAS BEST ONE FOR RUBY GAMES SINCE Q2 2022, AND WE
EXPECT THIS
GAME TO HELP THEM CONTINUE TO GROW
    * OUR STUDIO IN TORONTO HAS SIGNED A CONTRACT WITH APPLE TO
DEVELOP A NEW ANGRY BIRDS GAME TO APPLE ARCADE
    * WE EXPECT GAME TO BE A PROFIT DRIVER AND IMPROVE
VISIBILITY OF
ANGRY BIRDS BRAND
    * Q2 USER ACQUISITION INVESTMENTS INCREASED TO EUR 21.4
MILLION
(20.9), REPRESENTING 30.2% OF GAMES' REVENUE (27.5)
    * Q2 GAMES' GROSS BOOKINGS DECLINED BY 5.1% TO EUR 68.7
MILLION
(72.4)

Source text for Eikon:  ID:nGNE7GN7t2 
Further company coverage:  ROVIO.HE 

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