Rovio reported for the third quarter: revenue of €71 million and the failure of Darkfire Heroes

Rovio shared its financial report for the third quarter of 2021 (ended September 30). He turned out to be the best in the last couple of years. The company earned €71 million, and the revenue of top titles continued to grow. However, the further development of Darkfire Heroes still had to be abandoned — the game did not meet expectations.Darkfire Heroes

Key indicators

The company’s revenue amounted to €71.4 million — an increase of 5.1% compared to the third quarter of last year.

• Operating profit was €14.3 million (an increase of 9.2% year—on-year), and EBITDA was €17.2 million (an increase of 6.5%).
• Gaming revenue amounted to €68.6 million — an increase of 6.9% year-on-year.
• The EBITDA of the gaming division reached €17.5 million.Turkish Ruby Games, which Rovio acquired in August, earned €1 million in September.
• The studio’s revenue remained at the same level as before its purchase.UA expenses amounted to €18.1 million, or 26.4% of the total revenue of the gaming segment.
• This is an increase of 18.6% compared to the third quarter of 2020.Game Data

Rovio’s highest—grossing game remains Angry Birds 2. Its receipts (bookings) for the third quarter amounted to €26.6 million – an increase of 0.5% year-on-year.

• The receipts of Angry Birds Dream Blast amounted to €15 million — 3% less than in the same period last year.
• The revenues of Angry Birds Friends amounted to €8.5 million and increased by 17.9% year-on-year.
• This was due to increased spending on UA.The largest growth was demonstrated by Small Town Murders.
• The game earned €4.1 million, which is 36.7% higher in annual terms. However, the project’s revenues fell by 12% compared to the second quarter of 2021. Rovio explains this by reducing the cost of UA for this game.Darkfire Heroes, which was released in April, brought the least money.
• She earned only €600 thousand. As a result, Rovio switched the game to support mode and decided to direct the team’s efforts to work on more promising projects.