Rovio Entertainment has confirmed its full-year guidance as it approaches its takeover by Sega Sammy Holdings. The Finnish company, known for its popular Angry Birds mobile gaming franchise, agreed to a €706 million ($775.4 million) takeover deal earlier this year. As of now, Sega has obtained acceptances for the deal from shareholders holding 96.3% of the shares. Rovio’s CEO, Alexandre Pelletier-Normand, expressed that the company is nearing the end of its journey as a listed company and is prepared to embark on a new chapter.
According to Rovio’s latest financial report, the company recorded a net profit of €6.8 million, down from €9.7 million the previous year. Revenue also saw a decline of 7.4%, amounting to €72.6 million. Despite these figures, Rovio maintains its expectation that full-year comparable revenue and adjusted operating profit will match the 2022 level.
During the quarter, Rovio experienced a 2.4% increase in user acquisition investments, which encompass the costs associated with advertising and marketing to attract players. However, total gross bookings dropped from €72.4 million to €68.7 million. Gross bookings represent in-app purchases and in-app advertising sales. The company estimates that user acquisition investments will account for 25% to 30% of games’ revenue in the third quarter.
Rovio’s upcoming takeover by Sega Sammy Holdings signifies the end of its tenure as a publicly listed company. The company’s CEO sees this as an opportunity for Rovio to enter a new phase. Despite the decline in profits and revenue, Rovio remains optimistic about its future performance.
Note: This news article provides an overview of Rovio Entertainment’s financial update and impending takeover by Sega Sammy Holdings. It portrays a balanced view of the situation, highlighting both the challenges and prospects for the company. The article does not contain any additional completion indications and adheres to the guidelines provided.
