Rovio Entertainment Corporation Stock Exchange Release May 11 2022 at 9.00 a.m. EEST
Rovio Entertainment announces updated long-term targets that aim at faster than market revenue and EBITDA growth. Dividend payout target of approximately 30% of adjusted net profit unchanged.
The Board of Directors of Rovio Entertainment Corporation has decided on Rovio’s updated long-term financial targets.
Updated financial targets:
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Faster than market revenue growth (*)
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Adjusted EBITDA growth in line with long-term revenue growth
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Dividend payout of approximately 30% of adjusted yearly net profit
(*) Relevant market for target setting is defined as the Western mobile gaming market.
Rovio’s strategy
“We aspire to be a growing, profitable mobile game developer, and the company of choice for industry talent”, says Alexandre Pelletier-Normand, CEO. Through our mission: “We craft joy with player-focused gaming experiences that last for decades”, we offer an exciting future for our players, employees and shareholders. We conduct our business in a sustainable manner, focusing on three focus areas: safe and responsible gaming, people and society and climate and environment.
We focus our product strategy on our strengths in casual mobile games that utilise our renowned Angry Birds brand and other brands. We further develop the Angry Birds brand with a holistic strategy spanning across media.
We drive our long-term growth ambition through three main avenues:
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In our current free-to-play live games portfolio we excel at live operations and user acquisition and bring joy to our players every day. We launch high quality games that have the potential to reach a meaningful scale and deliver long-term cash flow.
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We invest in exploration in forward looking products spearheaded by our Montreal studio.
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Our strong financial position enables us to do synergetic acquisitions of studios that can benefit from Rovio’s growth platform Beacon.
“We have for more than a decade developed our growth platform that we call Beacon. It includes the people, the technology, the data, and established processes to successfully develop, analyse, launch and scale free-to-play mobile games to their full potential. We use Beacon across our game portfolio and see this as one source of synergies and a key value proposition for talented game studios that join the Rovio family. We believe that Rovio is well positioned to be competitive in the dynamic mobile gaming landscape and able to strengthen its position as a next generation game publisher”, says Pelletier-Normand.
Rovio’s previous long-term financial targets were: