INTERIM REPORTS 2021

Rovio Entertainment Corp. Financial Statement Bulletin 2021

Rovio Entertainment Corp. Q3 2021

Rovio Entertainment Corp. Half Year 2021

Rovio Entertainment Corp. Q1 2021

January-March 2023 highlights

• Rovio’s group revenue declined by 10.5% to EUR 76.0 million (85.0). On a comparable (*) basis, revenue declined by 13.2%. The comparable decrease was due to the high spike of Angry Birds Journey launch in Q1´22.
• Group EBITDA increased to EUR 12.1 million (11.1), and the EBITDA margin increased to 15,9% (13.1).
•  Group adjusted EBITDA decreased to EUR 12.1 million (13.6), and the adjusted EBITDA margin declined to 15.9% (16.0).
• Group operating profit increased to EUR 8.8 million (7.5), and the operating profit margin increased to 11.6% (8.8).
• Group adjusted operating profit declined to EUR 8.8 million (10.0), and the adjusted operating profit margin declined to 11.5% (11.8).
• Games’ gross bookings were declined by 10.9 % to EUR 72.0 million (80.8). Comparable (*) gross bookings declined by 13.6%. Sequentially, comparable games´ gross bookings grew by 0.9, while the US mobile gaming market grew by 1.6% (**).
• Rovio´s biggest game in Q1 2023 was Angry Birds Dream Blast, which saw its gross bookings grow by 67.7% to EUR 24.9 million (14.9).
• User acquisition investments increased to EUR 23.9 million (31.1), representing 32.3% of games’ revenue (37.8).
• Operating cash flow decreased to EUR -8.8 million (14.0) due to the changes in working capital (bonus payments in March and the New Mexico lawsuit settlement payment in January).
• Earnings per share increased to EUR 0.10 (0.07). Adjusted earnings per share was stable at EUR 0.10 (0.10).
• Events after the review period: On April 17, 2023, Sega announced a recommended cash offer of EUR 9.25 per share to the shareholders and EUR 1.48 per option to the option holders of Rovio. The total value of the offer, based on all 76,179,063 issued and outstanding shares in Rovio and all 742,300 issued and outstanding options under the Company’s Stock Options 2022A plan, amounts in aggregate to approximately EUR 706 million. The Board of Directors of Rovio, represented by a quorum comprising all members of the Board of Directors, has unanimously agreed to recommend that the shareholders and the option holders of Rovio accept the offer. Shareholders in Rovio who in aggregate hold Shares corresponding to approximately 49.1 percent of the outstanding Shares and votes in Rovio, have irrevocably undertaken to accept the offer, subject to certain customary conditions. The offer is currently expected to be completed during the third quarter of 2023.

*) Comparable growth is calculated at constant USD/EUR exchange rates.
**) Source: data.ai

2023 outlook

We expect our comparable revenue and adjusted operating profit to be at last year’s level.

Additional information on user acquisition investments in Q2 2023

User acquisition investments in Q2 2023 are expected to be 27–33% of games’ revenues.