Angry Birds’ Rovio doubles its revenues

Business has been good for the Angry Birds developer as the company’s revenues doubled year-on-year in 2012.

The studio’s revenue was €152.2m, up 101 per cent from 2011’s €75.6m.Earnings before interest and taxes (EBIT) grew by 64 per cent to €76.8m.

2012 was another record-breaking year for Rovio. We doubled our revenue with an EBIT margin of 50 per cent, more than doubled our headcount, established new offices and a New Business Ventures unit,” said Rovio CFO Herkko Soininen.

Like the year before, merchandising accounted for a large chunk of the company’s revenue. Rovio’s Consumer Products business unit’s revenue showed a yearly growth of over 300 per cent, and made up almost half of the company’s total revenue.

Rovio games broke the 1bn download mark in May 2012 and the total active monthly users topped at 263m in last December.

Story originally published on MCV Nordic.