The Finnish company Rovio Entertainment, the maker of the ten-year-old mobile game Angry Birds, has lowered its expectations for the whole year. This is partly due to the fact that more investments have to be made to attract users.
That leads to a lower profitability in 2019 and 2020, according to Rovio. But with several new games in the portfolio, the expectation for the longer term is positive. Rovio does, however, foresee that the proceeds from older games and licenses will level off.
Rovio is now counting on an adjusted operating profit margin from 5 percent to 8 percent. Previously, that prognosis was 9 percent to 11 percent. This year’s revenue comes in a bandwidth from 295 million euros to 310 million euros, from an earlier 300 million euros to 330 million euros.
Rovio, which went public last year, recently launched Rovio a follow-up to its step in the 2016 film industry, when it released “The Angry Birds Movie.”