Rovio revenues double to £130m in 2012

Angry Birds developer Rovio doubled its revenues in 2012 to £130 million.

The hugely successful Finnish studio’s yearly profit meanwhile hit £47 million, up £17 million from 2011.

Rovio said the rapid growth in its business was driven by games revenue and consumer product sales, with the company branching out into a number of new franchises such as Bad Piggies and Amazing Alex in the last year.

The number of Rovio game downloads has also surpassed 1.7 billion, with the number of monthly active users across titles on all platforms hitting 263 million as of December.

The firm stated that paid-for titles, virtual goods and advertising were the company’s main sources of revenue.

As well as successfully raising revenues and profits, Rovio has also doubled the number of staff at the company from 224 in 2011, to 518.

“Year 2012 was another recordbreaking year for Rovio,” said Rovio CFO Herkko Soininen.

“We doubled our revenue with an EBIT margin of 50%, more than doubled our headcount, established new offices and a New Business Ventures unit. Also, to protect our own, as well as our partners’ and our fans’ interests, we continue to invest heavily in brand protection globally.”