Stock Exchange for Finland’s ‘Angriest’ Gaming Company

Finnish gaming company Rovio, makers of Angry Birds games and merchandise, will be listed on the Helsinki stock exchange.

0
286
Angry Birds / Credit: @rovio Instagram

One of Finland’s best known gaming companies plans to be listed on the Helsinki Stock Exchange.

Rovio is known for its wildly popular Angry Birds series of games – and associated merchandise – will hold a press conference this morning to announce the move.

The Espoo-based company first brought Angry Birds to the market in 2009, and has since developed a range of accessories, and a film that will get a sequel in 2019.

Rovio’s games have been downloaded more than 3.7 billion times, and they have an average of 80 million active monthly users.

The company’s profitability has grown this year, with net sales in the first half of 2017 amounting to €153 million, compared to €78 million in the first half of 2016.

According to CEO Kati Levoranta the franchise is expecting good business results in the future as well.

“Our recently launched games, Angry Birds Evolution, Battle Bay and Angry Birdsy Match, have demonstrated a stronger performance for key operational figures than any of Rovio’s previously releases, suggesting growth potential in the future” says Levoranta.

The stock market listing has been keenly anticipated, with news of the possible flotation first coming in August. Chinese company Tencent, who bought into rival Finnish gaming studio Supercell, has been rumoured to be interested to buy Rovio as well.

Rovio’s flight to the top of the gaming world has not been without setbacks. In 2014 and 2015 the company had to lay off more than 200 employees, after a slump in business.