Prisinformation från TradingView

Bolagspresentation:

Nyhetsflöde Rovio

Related articles:
1/12/2024 11:09:24 AM - Rovios aktie handelsstoppad inför avnotering - Finska spelbolaget Rovio ansökte den 8 december i fjol om avnotering av bolagets aktie från Helsingforsbörsen, vilket har meddelats tidigare.
12/8/2023 12:41:59 PM - Rovio ansöker om avnotering från Helsingforsbörsen - Finska spelbolaget Rovio ansöker om avnotering från Helsingforsbörsen. Det framgår av ett pressmeddelande.
11/8/2023 8:23:47 AM - Rovio spår lägre jämförbar försäljning i år - Finska spelbolaget Rovio, som är under uppköp av Sega, släpper uppdaterad försäljningsprognos för helåret 2023 samt första kvartalet 2024. Orsaken är att Sega kommer lämna information om Rovios förväntade intäkter i samband med publicering av delårsrapporten idag.
8/18/2023 6:37:04 AM - Rovio: Termination of commissioned research - Nordea - We terminate commissioned coverage on Rovio. Note that estimates and information have not been updated in this report, and will no longer be updated. Any previously published research may thus be out of date.
8/11/2023 6:19:31 AM - Rovio minskar omsättning och vinst - Finska spelbolaget Rovio, som är under uppköp av Sega, redovisar en omsättning som var lägre än väntat under andra kvartalet. Rörelsevinsten minskade. Spelbolaget upprepar sina prognoser.
8/8/2023 3:41:30 PM - Sega har fått acceptans av 96,3 procent för sitt bud på Rovio - Sega har fått tummen upp på sitt rekommenderade bud på finska spelbolaget Rovio. Totalt har 96,3 procent av kapital och röster accepterat budet, enligt preliminära siffror.
7/25/2023 1:19:39 PM - Segas bud på Rovio har fått regulatoriska godkännanden - Sega Europe Limited har erhållit alla nödvändiga myndighetsgodkännanden för sitt rekommenderade uppköpserbjudande på finska spelbolaget Rovio. Det framgår av ett pressmeddelande.
7/3/2023 9:57:12 AM - Sega Europe förlänger erbjudandeperioden för budet på Rovio i väntan på konkurrensgodkännanden - Rovio-friaren Sega Europe har förlängt tidsfristen för det rekommenderade budet på det finska spelbolaget i väntan på myndighetsgodkännanden, enligt ett pressmeddelande. Sista datumet är nu den 7 augusti istället för idag den 3 juli.
5/2/2023 7:02:09 AM - Rovio: Flying towards a new home - Nordea - Rovio's Q1 was merely a formality after the recent recommended cash offer of EUR 9.25 per share by Sega. We continue to see a high likelihood of success for the bid owing to: 1) support from the board of directors and shareholder base; 2) implied valuation premium to both peers and historical levels; and 3) headwinds faced by the mobile gaming market in the near term. Given Rovio's strategy review and discussions with potential acquirers ahead of Sega's bid, we believe a competing offer is unlikely at this point. We upgrade our fair value range to EUR 9.0-9.2 (7.8-9.7). Marketing material commissioned by Rovio.
4/28/2023 8:20:23 AM - Rovio i linje med förväntan - Finska spelbolaget Rovio redovisar en omsättning i linje med förväntat under första kvartalet. Rörelseresultatet var bättre än väntat.
4/28/2023 8:11:19 AM - Rovio: Q1 EBIT in line with consensus; outlook for 2023 reiterated - Nordea - Rovio reported Q1 revenue 2% below Modular Finance consensus and adjusted EBIT bang in line. Compared to our forecasts, revenue was in line and adjusted EBIT was 12% above. Bookings from ABDB exceeded our estimates by 11%, while other games missed our estimates. Games' gross bookings grew by -13.6% y/y organically (Q4: -7.9%; Nordea -11.4%). User acquisition (UA) investments at EUR 23.9m were above our estimate of EUR 23.5m, i.e. 32.3% of Games revenue (Nordea: 31.7%; consensus: 31.8%) compared to 31.3% in Q4 2022 and 38.0% in Q1 2022. Rovio continues to expect 2023 to be a stable year for the mobile gaming market. The company reiterates its guidance for comparable revenue (consensus: 0%) and adjusted EBIT (consensus: +1%) to be flat y/y in 2023. UA costs for Q2 were guided at 27-32% of Games revenue (Nordea: 26.6%). Regarding the Q2 outlook for key games, Rovio states that it is working on a turnaround for AB2 and AB Journey, March was the best month ever for ABDB and AB Friends is witnessing quite stable development. We expect limited consensus revisions on the back of the report. The share price is driven by the recent takeover bid by Sega rather than earnings momentum. We continue to believe that Sega’s EUR 9.25 per share recommended cash offer will go through given the support from the BoD and the shareholder base, implied valuation premium to peers and historical levels and the headwinds faced by the mobile gaming market in the near-term. Given Rovio’s strategy review and discussions with potential suitors ahead of Sega’s bid, we believe a competing offer is unlikely at this point.
4/18/2023 11:30:06 AM - Affärsvärlden ser det som sannolikt att Segas bud på Rovio går igenom - Japanska spelbolaget Sega presenterade igår ett bud på finska mobilspelsbolaget Rovio uppgående till 9,25 euro per aktie. Tidigare i år försökte israeliska Playtika att köpa upp Rovio. Kan det bli budstrid, frågar sig Affärsvärldens uppköpsguide i en kommentar på tisdagen.
4/17/2023 6:51:57 AM - Rovio: Sega announced a bid on Rovio at EUR 9.25 per share - Nordea - Sega has 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. This implies EUR 706m equity value and EUR 540m enterprise value, we calculate.
4/17/2023 6:23:35 AM - Bekräftat: Sega lägger rekommenderat kontantbud på Rovio - Japanska Sega lägger ett rekommenderar kontantbud på finska spelbolaget Rovio om 9,25 euro per aktie. Därmed bekräftas tidigare pressuppgifter om att Sega fört budsamtal med Rovio.
4/17/2023 5:46:31 AM - Rovio: In talks with Sega regarding a potential tender offer – the rumored acquisition price presents a 40% premium to Friday’s close - Nordea - According an article by the Wall Street Journal on Friday night 14 April, Japanese gaming company Sega is nearing a deal to acquire Rovio for about USD 1bn (EUR 901m). According to people familiar with the matter, Sega could finalize the deal early this week. On Saturday 15 April, Rovio confirmed that it is indeed in discussions with Sega regarding a possible tender offer. The rumored acquisition price would imply a share price of EUR 10.85, i.e. a 40% premium to Friday’s close (EUR 7.775). Taking into consideration Rovio’s net cash, the potential deal would value Rovio at an EV of EUR 736m, corresponding to 2.3x EV/sales, 14.4x EV/EBITDA and 18.9x EV/EBIT multiples on our 2023 estimates. Western mobile gaming peers are currently trading at a median EV/EBITDA of 5.1x for 2023E. The sector five-year average NTM EV/EBITDA is 9.4x and Rovio’s five-year average NTM EV/EBITDA is 7.5x. Given the premium to peer and historical valuations as well as near-term headwinds for the mobile gaming market (e.g. Apple’s privacy changes, weakening macroeconomic backdrop), the rumored offer price can be considered very attractive. With Sega representing a much friendlier acquirer relative to Playtika who got turned down by Rovio, we believe there is a good likelihood that the potential deal would be completed. In our view, Rovio would fit extremely well to Sega’s strategy, given that Angry Birds would add a strong western IP to Sega, which could be monetized with the successful transmedia roadmap used for Sega’s blockbuster IP Sonic The Hedgehog. The deal would also increase Sega’s exposure to the mobile gaming market, which has been the company’s ambition.
4/17/2023 4:48:09 AM - Rovio bekräftar försäljningssamtal med Sega Sammy - Finländska spelbolaget Rovio, som ligger bakom Angry Birds, bekräftar att det är i diskussioner om att potentiellt köpas upp av japanska Sega Sammy Holdings. Det framgår av ett pressmeddelande.
3/23/2023 6:57:23 AM - Rovio: Concludes takeover discussions with Playtika, but continues the strategy review - Nordea - Rovio’s Board of Directors today confirmed that the preliminary discussions with Playtika in connection with Rovio's strategic review have now ended. The Board stated that it continues the strategic review, including preliminary non-binding discussions with certain other parties, in order to reach the best possible outcome for Rovio and its shareholders. We are not surprised by the outcome given Playtika’s questionable reputation as a buyer and its historical cultural clashes with its prior Finnish acquisitions (Seriously, Reworks). We believe that Rovio is likely to appear as an attractive asset for other potential bidders due to its strong IP and as companies could look to M&A as means of user acquisition after Apple’s privacy changes. According to an article on Mergermarket from 16 March that cited sources familiar with the matter, Rovio has engaged in regular dialogue with parties for several weeks. According to the article, Playrix, Disney and Netflix are among the interested industrial buyers. Apparently Tencent had also shown interest in Rovio, but the company decided but dropped out from the process. Private equity companies such as KKR, The Raine Group and Haveli Investments were reported to be around the process as well, but they have dialled down interest due to lofty valuation after Playtika’s bid. Ultimately, a the success of a takeover will boil down to a decision by the Hed family, which owns 39% of Rovio shares.
3/22/2023 8:04:27 AM - Rovios strategiska översyn fortsätter efter avslutade diskussioner med Playtika - Finska spelbolaget Rovios strategiska översyn fortsätter i och med att de preliminära icke-bindande diskussionerna med Playtika avslutats.
2/13/2023 5:40:59 AM - Börsveckan ger köpråd för Nordic Paper, Norske Skog och Nimbus samt säljråd för Epiroc - Börsveckan ger köpråd för Nordic Paper, Norske Skog och Nimbus i den senaste utgåvan. Tidningen lämnar rådet avvakta för Rovio, SSAB, Skåne-möllan och Bergman & Beving samt ger säljråd för Epiroc.
2/10/2023 6:31:46 AM - Bactiguard: Stable outlook for 2023 - Nordea - Bactiguard 's Q4 was impacted by the continued mobile gaming market decline. However, 2% q/q growth in the US market points to some light at the end of the tunnel. Rovio expects a stable market for 2023, with easing headwinds from Apple's privacy changes, inflation and societal reopening. Against this backdrop, Rovio guides for flat revenue and EBIT for 2023. In the near term, we believe that the share will be primarily driven by takeover speculation, following the recent M&A interest and the message from Rovio's board indicating openness to an acquisition. We take this into account in our raised fair value range, which is now EUR 7.8-9.7 (6.5-7.8). - Marketing material commissioned by Rovio.
2/9/2023 11:42:44 AM - Rovio: Guiding for a stable 2023 - Nordea - Rovio reported Q4 2% below Modular Finance consensus. Adjusted EBIT of EUR 5.9m missed by 18% relative to consensus of EUR 7.2m. The miss on EBIT is mainly accounted for lower-than-expected top-line and user acquisition (UA) investments being slightly higher than anticipated, we argue. Games' gross bookings grew by -7.9% y/y and by 5.4% q/q organically. This compares to mobile gaming market growth of -7% y/y globally and -11% y/y in the US in Q4. User acquisition (UA) investments at EUR 23.3m were above our estimate of EUR 22.4m, i.e. 31.3% of Games revenue (Nordea: 30.4% / consensus: 30.7%) compared to 28.7% in Q3 2022 and 26.9% in Q4 2021. UA increased for ABDB in particular. Rovio expects 2023 to be a stable year for the mobile gaming market. The company guides for its comparable revenue and adjusted EBIT to be flat y/y in 2023. Modular Finance consensus has been looking for 1% revenue growth and 5% adjusted EBIT growth for 2023 relative to 2022 figures. UA investments in Q1 2023 are expected to be 29-34% of Games revenue (Nordea 26.0%). Despite of the Q4 report implying some downside to consensus estimates, we believe the share price will be more driven by takeover speculation in the near-term.
2/9/2023 7:50:41 AM - Rovio minskar omsättning och rörelseresultat under Q4 - Finska spelbolaget Rovio redovisar en omsättning i linje med förväntat under fjärde kvartalet. Samtidigt minskade rörelseresultatet och styrelsen föreslår höjd utdelning.
2/6/2023 8:10:58 AM - Rovio: Announces a strategic review and preliminary non-binding discussions with certain parties in relation to a potential tender offer - Nordea - This morning Rovio announced that its Board of Directors has decided to commence strategic review following expressions of interest and indicative non-binding proposals to acquire Rovio. The Board has decided to enter into preliminary non-binding discussions with certain parties, including Playtika (who offered EUR 9.05 per share on 19 January), in relation to a potential tender offer for Rovio’s shares. In our view, this confirms that the Board is open for an acquisition and based on the release we can now assign a higher probability for competing bids. We believe that Rovio is likely to appear as an attractive asset for many due to its strong IP and as companies could look to M&A as means of user acquisition after Apple’s privacy changes. Potentially interested parties aside from Playtika could include, but not be limited to EA, Take-Two, Netflix or Disney, we believe. We still argue that a sale to Playtika is unlikely to be accepted given Playtika’s questionable reputation as a buyer and its historical cultural clashes with its prior Finnish acquisitions (Seriously, Reworks). We still consider Playtika’s offer price of EUR 9.05 as fairly attractive for investors with a shorter time horizon. The implied EV/EBITDA multiple corresponds to 9.9x on our 2023 estimates, which compares to western mobile gaming peers currently trading at a median of 5.5x and the sector five-year average NTM multiple of 9.7x. In 2018-19, the sector traded at an average NTM multiple of 9.3x. However, we note that M&A deal multiples have historically climbed up to ~20-25x EV/EBITDA for example on Take-Two’s acquisition of Zynga in 2022 and on EA’s acquisition of Glu Mobile in 2021.
2/6/2023 6:50:39 AM - Rovio inleder strategisk översyn, Playtika kan vara intresserade av bud - Finska spelbolaget Rovio har inlett en strategisk översyn och inlett förhandlingar med flera parter, inklusive Playtika, om ett potentiellt uppköp av bolaget. Det framgår av ett pressmeddelande.
1/20/2023 9:49:23 AM - Rovios aktie handlas under indikativt bud från Playtika - Finska spelbolaget Rovio handlas på fredagen på Helsingforsbörsen under det indikativa bud som israeliska Playtika lagt på 9,05 euro per aktie.
1/20/2023 7:22:35 AM - Rovios styrelse utvärderar indikativa budet från Playtika - Finska spelbolaget Rovios styrelse ska utvärdera det indikativa uppköpserbjudandet från israeliska Playtika.
1/20/2023 7:05:10 AM - Rovio: Playtika offers EUR 9.05 per share for Rovio - Nordea - Israeli-based mobile gaming company Playtika has today announced a proposal to Rovio board of directors to acquire Rovio for EUR 9.05 (55% premium to Wednesday’s close) per share in cash.
1/20/2023 5:38:17 AM - Playtika lägger bud på Rovio - Israeliska Playtika har lagt ett bud på finska spelbolaget Rovio på 9,05 euro per aktie i kontanter. Det motsvarar en premie på nästan 60 procent mot Rovios senaste stängningskurs.
1/19/2023 6:47:16 AM - Rovio: Outlook includes opportunities and threats - Nordea - We expect Rovio's Games gross bookings to decline by 9% y/y organically in Q4, broadly in line with the mobile gaming market's growth. The softening macroeconomic backdrop and continued headwinds from Apple's app tracking transparency changes create uncertainty for the mobile gaming market for 2023, but we consider Rovio to be relatively well positioned thanks to its strong IP, wide-appeal casual game portfolio, compelling launch pipeline and robust cash generation. Moreover, the high cash pile (year-end 2022E: EUR 126m) allows shareholder remuneration and it could be used to capture distressed M&A opportunities in combination with treasury shares. Our fair value range for Rovio stands at EUR 6.5-7.8 per share, corresponding to 6.5x-8.3x 2023E EV/EBITDA. Marketing material commissioned by Rovio.
12/5/2022 7:52:27 AM - Flash comment: Takeaways from Q4 mid-quarter analyst meeting - Nordea - We attended Rovio’s Q4 mid-quarter meeting on Friday hosted by IR Timo Rahkonen. The message conveyed by the company provided no real surprises relative to our estimates and daily app store ranking data from data.ai. Broadly speaking, Rovio’s key live games seem to be continuing their solid performance, which left us comfortable with our Q4 forecast of 1% q/q growth in Games revenue whereas UA for Q4 is tracking towards the mid-point of the guidance for 28-33% of Games revenue (Nordea: 30.9%), marking an uptick to the Q3 level of 28.7% mainly due to seasonality. Softness in the overall market has continued, with data from data.ai pointing to a 9% y/y decline in the mobile gaming market globally (excl. China) and to an 11% y/y decline in the US in October-November. Comparing the first two months of Q4 to the last two months of Q3, the market declined by 3% globally and grew by 1% in the US, which points to some signs of stabilization. Relative to post-Q3 Infront consensus, our Q4 estimates are in line on revenue, but our adjusted EBIT forecast of EUR 4.9m is below consensus of EUR 7.1m. We believe the deviation could be a result of higher assumptions for Q4 UA and opex from new studio openings. While these two factors present near-term margin pressure, we view them as important for building larger scale for the future. For 2023, we are 1% ahead of consensus on revenue and 2% ahead on adjusted EBIT.
11/22/2022 11:35:48 AM - Academedia, Billerud, Volvo med flera inkluderas i VINX Benchmark Index - Nasdaq har slutfört sin halvårsvisa översyn av VINX Benchmark Index och den nya sammansättningen träder i kraft den 1 december.
11/8/2022 12:01:43 PM - Rovio ska återköpa aktier - Styrelsen i finska spelbolaget Rovio har beslutat att inleda ett återköpsprogram baserat på det mandat som gavs vid årsstämman i våras. Det framgår av ett pressmeddelande.
11/7/2022 5:40:59 AM - Börsveckan ger köpråd för Ericsson, Vitrolife, Studsvik, Europris, Allgio och Rovio - Börsveckan ger köpråd för Ericsson, Vitrolife, Studsvik, Europris, Allgio och Rovio i den senaste utgåvan. Tidningen lämnar rådet avvakta för Beijer Electronics och Mentice.
10/31/2022 6:51:41 AM - Rovio: Solid Q3 and higher visibility into the pipeline - Nordea - Rovio reported 2% higher Q3 revenue than Infront consensus expected and adjusted EBIT exceeded consensus by 17%. ABDB was the star of Q3 with 18% y/y and 25% q/q growth. The mobile gaming market continued to decline in Q3, down double digits y/y, but was relatively stable q/q, which suggests some easing of headwinds. We believe Rovio's top line will be supported in the near term by the strong performance of live games, such as AB2 and ABDB. Q4 UA guidance is also encouraging. Looking a bit further out, the expanded studio network and development pipeline full of games with strong IP provide a foundation for continued growth. Marketing material commissioned by Rovio.
10/28/2022 7:46:54 AM - Rovio ökar omsättning men minskar rörelseresultat - uppdaterar helårsprognosen - Finska spelbolaget Rovio redovisar en omsättning som var högre än väntat under tredje kvartalet. Rörelsevinsten minskade. Bolaget uppdaterar även sin omsättningsprognos för helåret.
10/28/2022 7:38:32 AM - Rovio: Solid Q3 report and additional colour on the game pipeline - Nordea - Rovio reported Q3 revenue 2% ahead of Infront consensus while adjusted EBIT exceeded consensus by 17%. Games gross bookings grew -7.2% y/y organically (-6.5% in Q2). The top-line beat was partly driven by FX, but also by strong performance by ABDB, which also contributed to high operating leverage. UA costs for Q3 were 21.3m (Nordea: 21.5m) at 28.7% of Games revenue after 27.5% in Q2 22 and 26.4% in Q3 21. Guidance for 2022 was slightly revised to reflect the FX tailwinds from the strong USD: Rovio expects revenue to be significantly higher and revenue in comparable FX somewhat higher y/y (previously strong top-line growth, consensus +11%) and lower adjusted EBIT (intact, consensus -10%) for 2022 y/y. UA costs for Q4 were guided to be 28-33% of Games revenue (new / Nordea: 28.8%), which signals a q/q uptick and solid KPIs for key games such as ABDB and AB2, we believe. The company is also opening a new studio in Barcelona. Additionally, Rovio provided more transparency to its development pipeline of 10 games, which looks promising although we believe to new global launches should be expected for Q4. At first take, we expect 2022 top-line estimates for consensus to increase slightly while EBIT should remain broadly unchanged due to the UA ramp up for Q4. Initially for 2023, we expect consensus to move up somewhat for both top-line and EBIT given that KPIs for key games seem to justify incremental investment at the moment.
10/12/2022 6:12:04 AM - Rovio: Firing on half the cylinders - Nordea - We expect a sequential decline in Rovio's Games revenue for Q3 in the midst of mobile gaming market headwinds (reopening, inflation, Apple's ATT policy). Game-specific growth has been a mixed bag in Q3, with the two largest games AB2 and ABDB performing well, but AB Journey and AB Friends falling short of Q2 levels. We expect Rovio to reiterate its 2022 guidance for strong top-line growth (our estimate: 10%) and declining adjusted EBIT (our estimate: -13%). The UA guidance for Q4 will receive attention as we believe that a sequential uptick in UA could imply the launch of the much-awaited Hunter Assassin 2 in Q4. Rovio currently trades at 2023E EV/EBIT of 6x versus peers at 9x and Rovio's average NTM multiple of 10x since the IPO. We appreciate the recently launched share repurchasing programme (1.0% of total shares), which provides firepower for future M&A, and do not rule out further buybacks after the second tranche of the Ruby Games acquisition has been paid in October 2022. Marketing material commissioned by Rovio.
9/23/2022 12:50:59 PM - Rovio: Takeaways from Q3 mid-quarter analyst meeting - Nordea - We attended Rovio’s Q3 mid-quarter meeting for sell-side analysts today, which was hosted by IR Timo Rahkonen. The message conveyed by the company was broadly in line with our estimates and daily app store ranking data from data.ai. We highlight the good momentum for Rovio’s second largest game ABDB in particular, whereas the AB Journey (launched 20 January) seems to be still struggling with player engagement and has not recovered to sequential growth. Rovio expects UA costs for Q3 to be the at the higher end of the guidance of 25-30% of Games revenue, thanks to more investment on ABDB. The market environment has continued to be challenging, but signs of easing in market headwinds (reopening, inflation, Apple's ATT policy) on growth are appearing. According to data.ai, the global mobile gaming market (excluding China) declined 8% y/y in Q3, but was up 3% sequentially when comparing July-August monthly run-rates to June. Regarding Apple’s recent price increases on in-app purchases, Rovio estimates that if player behaviour remains constant (hard to predict in reality), this could have a low single-digit positive impact on revenue. For Q3, we forecast 1.5% q/q decline in Games revenue (+9% y/y) with UA costs amounting to 28.2% of Games revenue (guidance: 25-30%). Relative to Infront consensus, we are in line on revenue and 13% above on adjusted EBIT for Q3. We identify the launch of Hunter Assassin 2 (which we model for Q4 2022), potential M&A and signs of revenue recovery for AB Journey as the next potential catalysts for the share.
9/23/2022 6:40:08 AM - Rovio börjar återköpa egna aktier - Finska spelbolaget Rovio, mest kända för spelserien Angry Birds, börjar återköpa egna aktier. Målet är att återköpen ska uppgå till högst 1 procent av aktierna och 6 miljoner euro. Det framgår av ett pressmeddelande.
8/22/2022 4:43:59 AM - Börsveckan ger köpråd för åtta bolag, lanserar ny portfölj med 13 bolag - Börsveckan är tillbaka efter sommaruppehållet. Köpråd lämnas för de åtta bolagen Note, Bahnhof, Rovio, Europris, Orkla, Alligo, Betsson och Kindred. Tidningen ger rådet avvakta för VNV Global.
8/12/2022 5:05:07 AM - Rovio: Flying at a slightly lower altitude - Nordea - Rovio's Q2 revenue was 5% below Infront consensus, whereas adjusted EBIT was in line. Prevailing mobile gaming market headwinds (reopening, inflation, Apple's ATT policy) proved challenging for growth and recently launched AB Journey seems to be struggling with player engagement. We find the apparent Q3 run-rate recovery in two of Rovio's largest games (AB2 and ABDB) encouraging, but are slightly concerned about KPI softness for AB Journey. We identify the launch of Hunter Assassin 2 (which we model for Q4 2022), potential M&A and signs of revenue recovery for AB Journey as potential catalysts for the share. Marketing material commissioned by Rovio.
8/11/2022 7:57:38 AM - Blandad rapport från Rovio - aktien faller - Finska spelbolaget Rovio redovisar en omsättning som var lägre än väntat under andra kvartalet. Rörelsevinsten ökade.
8/11/2022 7:18:22 AM - Rovio: Q2 numbers soft on revenue and in line on EBIT; Q3 UA guidance of 25-30% lower than we had expected - Nordea - Rovio’s Q2 revenue of EUR 78.4m came in 5% below consensus and 4% below our estimate whereas adjusted EBIT was bang in line at EUR 11.3m. Games gross bookings grew -6.5% y/y organically (+11% in Q1). Compared to our estimates, all games missed but the miss was relatively larger in Rovio’s most recent game launch AB Journey and the Ruby Games’ hypercasual portfolio. UA costs for Q2 were slightly lower than we had anticipated at 20.9m (Nordea: 21.7m) at 27.5% of Games revenue after 38% in Q1 22 and 32% in Q2 21. The company reiterated its 2022 guidance for strong top-line growth (consensus: +16%) and lower adjusted EBIT (consensus: -1%) for 2022 y/y. UA costs for Q3 were guided at 25-30% of Games revenue, which is below our estimate of 33% and in our view indicates soft KPIs for AB Journey and the global launch of Hunter Assassin likely not taking place during the quarter. Adjusted EBIT growth for H1 has been 31% y/y, which we believe implies elevated UA for Q4 to support growth as well as ramped up recruitments given increased opportunities for talent after layoffs by other industry players, but we also see a possibility for a EBIT guidance revision later this year. At first take, we expect to keep 2022 EBIT estimates to remain broadly unchanged as a function of weaker-than-expected revenue development and lower-than-expected UA, but 2023 could see downgrades given that the lack of a UA ramp-up relative to our estimates.
8/8/2022 12:34:53 PM - Rovio: Expectations ahead of Q2 results - Nordea - Rovio will publish its Q2 report on 11 August at 9:00 EET. For Q2, we expect Games revenue to decrease by 4% q/q (+19% y/y), driven by the lack of releases from Ruby Games and sequentially lower UA spend for AB Journey. Based on Rovio's mid-quarter meeting and data.ai, we believe the older AB games have performed broadly in line with our expectations. UA guidance for Q2 stands at 25-30% of Games revenues, which compares to 38% in Q1 and our Q2 estimate of 27%. Our top-line estimate is in line with pre-Q2 Infront consensus, while our adjusted EBIT estimate is 1% below. Despite the mobile gaming market currently facing headwinds (US market -11% y/y growth in Q2, according to Sensor Tower) from post-pandemic reopening, rising inflation and IDFA deprecation, we expect Rovio to repeat its 2022 outlook for strong top-line growth, supported by the launch of AB Journey (20 January 2022) and the acquisition of Ruby Games (12 August 2021), as well as for declining adjusted EBIT. We forecast 18% top-line growth (7% organic) and an adjusted EBIT decline of 5% for 2022E, which puts us 1% ahead of consensus on sales, but 4% below on EBIT for 2022E. UA guidance for Q3 (Nordea estimate: 33% of Games revenue) will receive focus as a q/q uptick could be an indication of the global launch of Hunter Assassin 2 (which we model for Q3) or an improvement in key KPIs for AB Journey. We find no reason to changes our estimates ahead of the Q2 report.
6/16/2022 5:48:19 AM - Rovio: A slightly more conservative view on the outlook - Nordea - Rovio's performance has exceeded our expectations for three consecutive quarters, and the recent CMD also suggested the company’s focus and execution have improved. However, sequentially lower Games revenue signals a somewhat soft Q2 report. Additionally, market normalisation following a period of abnormally high demand and the limited operational leverage indicated by the company's updated long-term financial targets prompt us to cut estimates for 2022-24. We identify the launch of Hunter Assassin 2 (which we model for Q3 2022) and signs of revenue recovery for AB Journey in Q3 as the next potential catalysts for the share. Marketing material commissioned by Rovio.
6/13/2022 5:40:05 AM - Rovio: Takeaways from Q2 mid-quarter analyst meeting - Nordea - We attended Rovio’s Q2 mid-quarter meeting for sell-side analysts on Friday hosted by IR Timo Rahkonen, CEO Alexandre Pelletier-Normand and CFO René Lindell. The company continued to highlight near-term headwinds for the mobile gaming market from post-pandemic reopening and Apple’s IDFA changes, which according to data.ai have led to a 6% y/y market decline in April-May. Rovio’s largest market, the US, has taken the biggest hit with a 20% y/y decline, whereas the market in China has been able to grow due to the recent lockdowns. We were left with the impression that Rovio’s Games revenue has witnessed y/y growth, but slight q/q decline in Q2 due sequentially lower UA spend on AB Journey and lack of game releases by Ruby Games. We have been expecting 1% q/q decline in Games revenue, but we note that the sequential decline for Ruby Games does suggest some additional downside to our Q2 estimates as we had expected positive growth for the studio. The older Angry Birds games (AB2, ABDB, AB Friends) have performed broadly in line with our expectations. For Q2, our estimates have been 1% above Infront consensus on top-line, but 3% below on adjusted EBIT. Given the somewhat soft Q2 after a strong Q1 and the market normalisation trends after abnormally high demand, we find limited catalysts for the shares until the launch of Hunter Assassin 2, which should take place in H2 2022E.
6/10/2022 12:47:30 PM - Rovio utser Andy Muesse som ny studiochef - Finska spelbolaget Rovio har utsett Andy Muesse till ny studiochef. Han kommer tillträda sin tjänst omedelbart och kommer ingå i bolagets ledningsgrupp. Det framgår av ett pressmeddelande.
5/24/2022 6:31:51 AM - Fortnox, Volvo Cars, Byggmax med flera inkluderas i VINX Benchmark Index - Nasdaq har slutfört sin halvårsvisa översyn av VINX Benchmark Index och den nya sammansättningen träder i kraft den 1 juni.
5/12/2022 5:58:40 AM - Rovio: Key takeaways from CMD - Nordea - Rovio arranged a CMD yesterday (11 May) in Stockholm, providing an update on its strategy and financial targets as well as deep dives into the Angry Birds brand and technology platform Beacon. The company reiterated its strategy outlines with a sharp focus on wide-appeal casual mobile games, which coupled with the Angry Birds IP has made Rovio a relative winner in the midst of app tracking transparency (ATT) headwinds for the market, in our view.
5/11/2022 7:15:17 AM - Rovio uppdaterar långsiktiga finansiella mål - vill växa snabbare än marknaden - Finska spelbolaget Rovio har uppdaterat sina långsiktiga finansiella mål och siktar nu på att växa snabbare än den västerländska marknaden för mobilspel. Justerad ebitda-tillväxt ska även vara i linje med långsiktig intäktstillväxt.
5/2/2022 5:42:31 AM - Rovio: Strong Q1 despite normalising gaming market - Nordea - The Q1 results were testament to Rovio's strong execution, with recent growth initiatives (AB Journey and Ruby Games) bearing fruit and its largest game, high-margin AB2, continuing to grow. The drop-through from top-line growth to adjusted EBIT also surprised significantly on the upside. We remain optimistic about the outlook, given the combination of highly cash-generative older AB games, the growth boost offered by AB Journey and the soft launch pipeline and high capacity for M&A. However, we note downside risks from a normalising operating environment following a period of abnormally high market growth. We raise our fair value range to EUR 7.5-9.8 (7.3-9.4), translating to 7.5-10.6x EV/EBIT for 2023E. Marketing material commissioned by Rovio.
4/29/2022 8:19:51 AM - Rovio: Very strong set of Q1 numbers - Nordea - Rovio reported an extremely strong set of Q1 numbers with 6% beat on the top-line and an adjusted EBIT of EUR 10.0m versus Infront consensus of EUR 3.5m and our estimate of EUR 3.1m. Group organic growth stood at 12%, compared to 6% in Q4 and our estimate of 10%. Relative to our estimates, the top-line beat is encouragingly driven by recently launched AB Journey and the Ruby Games studio that was acquired in August 2021, highlighting success in recent key growth initiatives. UA spend was slightly lower than we anticipated at 38% of Games revenue (our estimate: 40%), which explains EUR 1.2m of the EUR 6.9m EBIT beat relative to our estimates, while the remainder of the positive surprise seems to be a result of operating leverage. Rovio reiterated its guidance for strong top-line growth (consensus +14%) and lower adjusted EBIT (consensus -19%) for 2022. UA costs for Q2 were guided at 25-30% of Games revenue, whereas we have estimated 33%. At first take, we believe the strong Q1 should trigger ~15% earnings upgrades by the consensus for 2022E-23E.
4/29/2022 6:32:34 AM - Rovio ökar omsättning kraftigt - tillväxt om 26,7 procent - Finska spelbolaget Rovio redovisar en omsättning som var högre än väntat under första kvartalet. Rörelsevinsten minskade.
4/25/2022 7:35:45 AM - Rovio: Feathering its nest - Nordea - Ahead of Rovio's Q1 report, we adjust our estimates mainly for FX tailwinds from the stronger USD. For Q1, we expect Rovio to demonstrate strong growth on the back of continued good momentum for its largest games and the global launch of AB Journey. We continue to find Rovio's outlook favourable given the combination of highly cash-generative existing Angry Birds games and compelling growth opportunities offered by the recently launched AB Journey and the soft launch pipeline (Hunter Assassin 2, Moomin: Puzzle and Design). Additionally, we argue that high capacity for M&A (EUR ~160m in cash and 9% of own shares) provides further value-creation potential. The company will host a CMD on 11 May, which we expect to shed light on strategy cornerstones as well as provide updated financial targets. We update our fair value range to EUR 7.3-9.4 (7.3-9.3). Marketing material commissioned by Rovio.
4/1/2022 12:17:51 PM - Affärsvärlden ger ett neutralt råd för Rovio, ser ingen vidare uppsida i aktien - Finska spelbolaget Rovio har haft svårt att visa tillväxt men går nu in i 2022 med nya spel och stora förhoppningar. Det skriver Affärsvärlden i en analys på fredagen.
3/31/2022 8:31:48 AM - Rovio släpper första Angry Birds-spelet på nytt - Finska spelbolaget Rovio har idag släppt det ursprungliga Angry Birds-spelet, precis som det var när det lanserades 2012, skriver bolaget i ett pressmeddelande.
3/7/2022 5:52:20 AM - Rovio får en köprekommendation av Dagens industri - Dagens industri rekommenderar ett köp i det finska mobilspelsbolaget Rovio vars tillväxt är på väg att komma tillbaka.
2/14/2022 6:41:31 AM - Rovio: Growth set to slingshot in 2022 - Nordea - Rovio's Q4 performance exceeded our expectations and guidance for 2022 provided further confidence in the improved growth momentum. We find the company's outlook favourable given the combination of highly cash-generative existing Angry Birds games and compelling growth opportunities offered by recently launched AB Journey and the soft launch pipeline (Hunter Assassin 2, Moomin: Puzzle and Design). Additionally, we argue that high capacity for M&A (EUR ~160m in cash and 9% of own shares) provides further upside and value-creation potential. The share remains attractively valued relative to western mobile gaming peers. We raise our fair value range to EUR 7.3-9.3 (6.9-8.8). Marketing material commissioned by Rovio.
2/11/2022 9:05:56 AM - Rovio: Strong growth outlook for 2022 - Nordea - Rovio’s Q4 report offered a 7% beat on revenue and 35% beat on adjusted EBIT relative to Infront consensus. The company guides for strong top-line growth (consensus: +6%) and EBIT lower y/y (consensus: EUR 41m vs EUR 44m 2021) for 2022. UA costs for Q1 were guided for 40% of Games revenue (Nordea: 33%), mainly due to the strong KPIs that the company is witnessing for AB Journey (launched on 20 January), we believe. According to Rovio, AB Journey has scaled up to more than EUR 40m of run-rate annual gross bookings, which compares to our bookings contribution estimate of EUR 35m for 2022. Based on the Q4 outcome and the strong top-line outlook for 2022, we expect consensus revenue estimates to be raised by some 4-6% while EBIT is likely to remain unchanged to due ramped up UA investments to scale up new games.
2/11/2022 8:05:19 AM - Rovio ökar omsättning och lönsamhet - hög tillväxt väntas under 2022 - Finska spelbolaget Rovio redovisar en omsättning som var högre än väntat under fjärde kvartalet. Rörelsevinsten ökade och styrelsen föreslår oförändrad utdelning.
1/18/2022 6:45:37 AM - Rovio: Promising initiatives to drive growth - Nordea - We expect Rovio's Q4 report to offer sequential growth in Games revenue, supported by both a solid organic contribution and the acquisition of Ruby Games. Looking further ahead, we find view Rovio's outlook favourable given the combination of highly cash-generative existing Angry Birds games and compelling growth initiatives offered by the soft launch pipeline (AB Journey, Hunter Assassin 2, Moomin: Puzzle and Design). Additionally, high capacity to drive M&A (EUR ~160m in cash and 9% of own shares) provides further upside for estimates and value-creation potential. The share remains attractively valued at a 40-60% discount to western mobile gaming peers. We maintain our fair value range of EUR 6.9-8.8. Marketing material commissioned by Rovio.
12/10/2021 7:00:31 AM - Rovio: Takeaways from Q4 mid-quarter analyst meeting - Nordea - We attended Rovio’s Q4 mid-quarter meeting for sell-side analysts hosted by the IR today. We were left with the impression that the key Angry Birds games (AB2, AB Dream Blast, AB Friends) have continued their solid performance and grown likely at a low single-digit rate q/q, suggesting modest upside to our current Q4 estimates. AB Journey, which is currently in soft launch, but generated EUR 2m of run-rate bookings already in Q3, is expected to be launched globally by the end of January 2022. The first Moomin IP game (Moomin: Puzzle and Design) was soft launched yesterday in Finland, Poland and the Philippines, featuring a story line where the player has to solve puzzles in order to decorate and design the Moomin valley. The recently acquired Ruby Games seems to be preforming well, with some growth in bookings q/q. Hunter Assassin 2, which is currently in soft launch and has already demonstrated high success po tential by reaching the #1 download rank in India on Android, remains the main priority for Ruby Games, with global launch expected to take place in early 2022. In conjunction with the message conveyed with Q3 results, UA costs in Q4 are expected to remain in line with the Q3 level of 26% of Games revenue. For 2022, Rovio pointed out that opex is likely to increase due to Montreal and Toronto studio scale ups, salary inflation and higher UA related to AB Journey and Hunter Assassin 2. In our view, this could imply some downside to our and Infront consensus adjusted EBIT margin for 2022E (Nordea 16.5% / consensus 15.1%), although earnings downgrades could be mitigated by a promising top-line growth outlook on the back of the upcoming global launches of AB Journey and Hunter Assassin 2.
10/29/2021 7:28:52 AM - Rovio: Solid Q3 performance and a compelling outlook - Nordea - Rovio delivered a strong set of Q3 numbers, with profitability and Games organic growth surprising on the upside. Angry Birds games continue to deliver solid cash flow for Rovio, and even though the company's attempts to drive growth with other IPs have yielded limited success (e.g. Darkfire Heroes), we view Rovio's current outlook as compelling given the recent Ruby Games acquisition, solid soft launch pipeline, potential from the Moomin partnership and further capacity to drive M&A. The share also remains attractively valued, at a 50-60% discount to Western mobile gaming peers. We update our fair value range to EUR 6.9-8.8 (6.9-8.7). Marketing material commissioned by Rovio.
10/28/2021 8:06:23 AM - Rovio: Q3 2021 numbers above expectations, Darkfire Heroes move into maintenance mode - Nordea - Rovio’s Q3 revenue and adjusted EBIT beat Infront consensus estimates by 2% and 40% respectively. Games revenue grew above our expectations by +5% y/y organically (+6% in Q2) and UA costs were in line with our estimate of EUR 18.1m at 26% of Games revenue after 32% in Q2 21 and 24% in Q3 20. Rovio kept its outlook unchanged, continuing to provide no numerical guidance. Despite good Q3 numbers, we believe that consensus revenue estimates could see low-single-digit downgrades given that Darkfire Heroes (launched in April 2021) has been moved into maintenance mode following its unsatisfactory performance. On an adjusted EBIT level, the Q3 beat itself represents 12% upside to consensus 2021 figures, but 2022-23 estimates are likely to move up by a more limited extent.
10/28/2021 6:44:12 AM - Rovio ökar omsättning och justerat ebitda mer än väntat - Finska spelbolaget Rovio redovisar bättre siffror än väntat under tredje kvartalet.
10/15/2021 5:58:57 AM - Rovio: Growth potential bolstered by Ruby Games - Nordea - For Q3, we expect 2% q/q group revenue growth (3% y/y) thanks to modest improvement in Games revenue and the consolidation of Ruby Games, and a sequential uplift in adjusted EBIT margin due to lower UA spend, mainly for Small Town Murders and Darkfire Heroes. Our Q3 estimates are 1% above Refinitiv consensus for revenue and 19% above for adjusted EBIT. Looking ahead to 2022, we see the upside from the launch of Hunter Assassin 2 (a sequel to Hunter Assassin, the sixth-most-downloaded game globally in 2020) by the recently acquired Ruby Games. Our updated fair value range is EUR 6.9-8.7 (6.9-9.0). Marketing material commissioned by Rovio.
9/27/2021 5:57:36 AM - Rovio: Takeaways from Q3 mid-quarter analyst meeting - Nordea - We attended Rovio’s Q3 mid-quarter meeting for sell-side analysts on Friday hosted by IR Minna Eloranta, CEO Alexandre Pelletier-Normand, CFO René Lindell and Head of Strategy Timo Rahkonen. In terms of Q3 performance, we were left with the impression Games revenue should achieve q/q organic growth, which is in line with our estimates. However, the recently acquired Ruby Games has been consolidated from the beginning of September (we have modelled from Q4 onwards), which provides upside for our estimates, especially given the flying start for the recent Forensic Master game launch. Additionally, Rovio announced a formation of a new game studio in Toronto, which will focus on F2P casual mobile games and be led by Julie Beaugrand, who most recently led Gameloft’s North American Studios and shares a mutual background with Rovio’s key management team members. Furthermore, it seems to us that Rovio’s attempt to exploit the recent US court ruling that ordered Apple to allow links to external payment options in apps would be a single sign-on fidelity platform where the most loyal players could acquire virtual currency and deploy it across the game portfolio. Although we find the ruling and the overall pressure on Apple and Google to lower their 30% platform fees as positive for Rovio and mobile gaming companies, we find it likely that lower platform costs would be at least partly passed on to consumers via lower prices or to be directed towards UA, hence limiting the margin upside.
9/24/2021 9:09:50 AM - Rovio öppnar spelstudio i Toronto - Finska spelutvecklaren Rovio ska öppna en spelstudio i kanadensiska storstaden Toronto, enligt ett pressmeddelande.
9/13/2021 7:42:50 AM - Gamingbolagen lyfter på Apple-dom - Gamingbolagen stiger på bred front under måndagen efter att Apple förlorat en domstolstvist avseende avgiftsbetalning i mobilspelsappar. Framöver blir det möjligt att även kunna erbjuda tredjepartsbetalningar i apparna.
9/6/2021 7:23:55 AM - Rovio Takeaways from Nordea Virtual Gaming Seminar - Nordea - Rovio CEO Alexandre Pelletier-Normand and CFO Rene Lindell presented at Nordea Virtual Gaming Seminar on Friday. We did review the company strategy that consists of three phases starting from the short-term focus to grow core F2P mobile genres such as slingshot and puzzle games.
8/13/2021 5:48:28 AM - Rovio: Ruby Games improves growth and margin profile - Nordea - Despite in line revenues, Rovio's Q2 report missed on adjusted EBIT due to high user acquisition spending relating to the disappointing launch of Darkfire Heroes. As major news, the company announced the acquisition of Turkish Ruby Games, a proven developer of popular hyper-casual games such as Hunter Assassin. While the report prompts only modest estimate revisions, we raise our estimates mainly thanks to the Ruby Games acquisition which should improve growth and margins. We increase our fair value range to EUR 6.9-9.0 (6.8-8.8) mainly due to estimate revisions, partially offset by our estimated EUR 90m price tag for the acquisition including all earn-outs. Marketing material commissioned by Rovio.
8/12/2021 6:46:19 AM - Rovio visar omsättning som är i linje med förväntningar men rörelseresultatet var lägre än väntat - Finska spelbolaget Rovio redovisar en omsättning i linje med förväntat under andra kvartalet. Rörelseresultatet var lägre än väntat. Jämfört med föregående år sjönk rörelseresultatet.
8/12/2021 6:14:31 AM - Rovio förvärvar den turkiska spelstudion Ruby Games - Finska spelbolaget Rovio förvärvar den turkiska spelstudion Ruby Games som ligger bakom titeln Hunter Assassin, det sjätte mest nedladdade spelet i världen under 2020. Det framgår i ett pressmeddelande.
7/14/2021 5:39:54 AM - Rovio: We expect solid performance from Angry Birds - Nordea - Rovio's Q2 report will likely be a double-edged sword, but could be a minor positive trigger for the share. On the positive side, the company has been able to grow its existing Angry Birds titles, owing to improvements made to those games recently and increased user acquisition investments. On the other hand, Darkfire Heroes, published in April, has not yet achieved a significant sales run-rate, in our view. We make minor changes to our estimates. We are 12% above Refinitiv consensus on Q2 2021E EBIT and 3% above for 2021E. We decrease our fair value range to EUR 6.8-8.8 (6.9-8.9), mainly due to decreased valuations for the peer group. Marketing material commissioned by Rovio.
6/29/2021 9:49:42 AM - Rovio-spelet Angry Birds 2 lanseras på Huaweis plattform för appar - Finska spelbolaget Rovio har nu lanserat sitt spel Angry Birds 2 på Huaweis plattform för appar, vilket är det första spelet i appaffären från utvecklaren. Det ska tillåta 540 miljoner månatliga användare på denna plattform att kunna ladda ned spelet, framgår det av ett pressmeddelande.
6/28/2021 8:13:59 AM - Börsveckan ger köpråd för Rovio, Distit, Pricer och Ratos - Börsveckan ger köpråd för de svenska bolagen Distit, Pricer och Ratos samt finska Rovio. Fingerprint Cards, Saxlund och Fastpartner erhåller avvakta-rekommendationer. Det framgår av det senaste numret.
6/22/2021 10:26:02 AM - Rovio ska återlansera gamla Angry Birds-spel - Finska spelbolaget Rovio meddelar att man ska återlansera gamla Angry Birds-spel.
6/21/2021 10:55:01 AM - Rovio ingår partnerskap med Mumintrollen - Finska spelbolaget Rovio ingår partnerskap med Mumintrollen och Gutsy Animations. Det framgår av ett pressmeddelande.
5/28/2021 12:27:34 PM - Rovio: Improved download rankings for AB2 a positive leading indicator for the revenue of Games - Nordea - We take a look into key datapoints on Rovio’s games and find evidence that the revenue of Games has developed positively during Q2. Our data source Reflection.io suggests 15% QTD revenue growth q/q for Games, compared to our Q2 estimate of +4%. The positive development seems to be driven mainly by Rovio’s largest game, Angry Birds 2 (AB2), which, according to Reflection, has recorded 18% higher daily sales QTD in Q2 compared to Q1 (this figure tends to be volatile). AppAnnie’s rankings data also give a positive signal and suggest a steep increase in AB2 download volumes. We believe that the improvements made to AB2 in Q4 are gradually paying off and might have allowed the company to increase its UA investments for the game, owing to shorter payback times. Looking to the latest release, Darkfire Heroes, its gross bookings have not grown materially since the launch in mid-April, according to Reflection.io. Ro vio will roll out improvements to the game and ramp-up user acquisition gradually which could help the game to eventually gain momentum. We are 1% above consensus for Q2 group net sales and 28% for adjusted EBIT. The share trades at 2021E EV/EBIT of 9.5x, or 8.4x if we were to increase our AB2 growth estimate from -3% to +5% for 2021.
5/28/2021 7:35:57 AM - Låg men inte attraktiv värdering för Rovio - Jeffries - Finska spelbolaget Rovio, som utvecklar Angry Birds, är lågt värderade men värdet i aktien är inte särskilt attraktivt enligt Jefferies. Det rapporterar Bloomberg News som tagit del av analysen.
5/26/2021 12:02:32 PM - Rovio tar in Kieran O'Leary om operativ chef - blir del av bolagsledningen - Finska spelbolaget Rovio har tagit in Kieran O'Leary som operativ chef med start den 27 maj. Han och teknikchefen Petri Hyökyranta tar även platser i bolagsledningen, framgår det av ett pressmeddelande.
4/30/2021 5:34:04 AM - Rovio: Improvements to AB games are paying off - Nordea - Games' sales in Q1 were 7% above our estimate and alleviated concerns about declining sales after the pandemic, which partially boosted the gaming market in 2020. Instead, it seems that the improvements rolled out to Rovio's older games in the past two years have been able to extend the lifetime values for those games, the best example of which is AB Friends, whose sales grew by 45% y/y in Q1. Management had an upbeat tone on Rovio's most recently launched game, Darkfire Heroes. The scale-up will increase Rovio's UA per sales to 30% in Q2, which will burden profitability in the short term but could support revenue growth in the long term. We increase our fair value range to EUR 6.9-8.9 (6.0-7.7), owing to the good sales growth for Rovio's existing game portfolio.
4/29/2021 8:09:06 AM - Rovio i linje med förväntan - Finska spelbolaget Rovio redovisar en rapport för första kvartalet som är i linje med vad analytikerna räknat med. Aktien har stigit med 5,2 procent efter en dryg timmes handel.
4/27/2021 11:47:23 AM - Rovio: Taking a look into early data of recently launched Darkfire Heroes - Nordea - Rovio launched an action-packed strategy RPG title Darkfire Heroes (DH) on 16 April. We take a look into early data of its revenue and download figures provided by Reflection.io analytics service. Based on the data and a set of assumptions, we estimate that the game has reached annual gross revenue run-rate of at least EUR 3.8m during the first week after the launch. We have estimated that DH could reach gross bookings of EUR 5.3m in Q4 2021 (meaning annual run-rate of 21.2m).
4/15/2021 1:15:03 PM - Rovio släpper RPG-spelet Darkfire Heroes på iOS och Android idag - Finska spelbolaget Rovio släpper nu sitt RPG-spel "Darkfire Heroes" på mobilplattformarna iOS och Android på en global nivå. Det framgår av ett pressmeddelande.
4/14/2021 3:21:52 PM - Rovio lanserar mobilspelet Darkfire Heroes imorgon - Finska börsnoterade spelutvecklaren Rovio lanserar mobilspelet Darkfire Heroes inom rollspelsgenren imorgon, enligt ett twitterinlägg.
4/9/2021 7:56:28 AM - Rovio: Soft launch pipeline strengthened with ‘Supernatural City’ - Nordea - Rovio announced yesterday that it has soft launched a new game, a narrative-driven puzzle game called Supernatural City. This extends the number of games in the soft launch phase to four for Rovio, including Darkfire Heroes that will see a global launch in the upcoming weeks.
4/9/2021 6:25:58 AM - Rovio: Focus on the launch of Darkfire Heroes - Nordea - The upcoming launch of action RPG title Darkfire Heroes in April will be the most important trigger for the share in the short term. If successful, the game could diversify Rovio's game portfolio and add credibility to its M&A strategy, given that it has been developed by Copenhagen-based Darkfire Games, which Rovio acquired in 2020. Further acquisitions could follow in 2021. The actual sales figures in Q1 could disappoint, however. According to a data sample provided by the Reflection analytics service, Rovio’s games' gross bookings declined by 21% y/y in Q1 compared to the consensus expectation of roughly flat group sales y/y. We lower our fair value range to EUR 6.0-7.7 (6.5-8.3) owing to the negative signal from this data. Marketing material commissioned by Rovio.
3/1/2021 10:59:31 AM - Inderes inleder bevakning av Rovio med köp, ser attraktiv avkastning/risk-ratio i aktien - Inderes inleder bevakning av finska spelutvecklaren Rovio med rekommendationen köp och riktkursen 7,50 euro.
2/19/2021 7:47:49 AM - Rovio ökade rörelseresultatet men lägre än väntat, intäkter i linje med konsensus - Finska spelbolaget Rovio redovisar en omsättning i linje med förväntat under fjärde kvartalet. Rörelseresultatet ökade men var lägre än väntat. Styrelsen föreslår höjd utdelning.
1/28/2021 12:46:38 PM - Rovio har stängt ned mobilsspelströmningstjänsten Hatch - Gamesindustry (Uppdatering) - Rovio har uppdaterat situationen och klargjort att Hatch Kids, den familjefokuserade delen av Hatch, fortfarande är öppen.
1/28/2021 10:07:06 AM - Rovio har stängt ned mobilsspelströmningstjänsten Hatch - Gamesindustry - Finska spelbolaget Rovio har stängt ned sin mobilströmspelsströmningstjänst Hatch, rapporterar Gamesindustry baserat på en banner på deras hemsida.
1/20/2021 9:11:16 AM - Rovio: The value call of mobile gaming - Nordea - Rovio is set to achieve exceptional earnings growth in 2020. We expect EBIT to be up ~170% from 2019 due to lower user acquisition costs and a stable game portfolio. Since the end of 2019, the share is up a considerable 47%, but after the step up in profitability and ~10% share buy back programme, we find the share still attractively valued. Looking ahead to 2021, we identify multiple potential triggers that could justify a rerating of the share. We believe the current valuation reflects an undemanding scenario for 2021-22 and we see the risk/reward as attractive. We maintain our DCF and relative valuation-based fair value range of EUR 6.4-8.2. Marketing material commissioned by Rovio.
1/18/2021 11:39:40 AM - Nordea ser flera triggers för Rovio under 2021, motiverat värde 6,4 till 8,2 euro per aktie - Nordea ser tre triggers för det finska spelbolaget Rovio under 2021, enligt en uppdragsanalys med ett motiverat värde på mellan 6,4 till 8,2 euro per aktie. Aktien står idag i runt 6,6 euro.
1/7/2021 9:35:40 AM - Simplicity Norden steg under december mot bakgrund av en stark skogsbolagssektor - Fonden Simplicity Norden steg 1,0 procent i december. Under 2020 har fonden minskat 2,3 procent. Det framgår av en månadsrapport.
12/21/2020 7:43:40 AM - Rovios spelchef tar över som vd - Finska spel- och underhållningsbolaget Rovio meddelar att styrelsen utsett Alexandre Pelletier-Normand till ny vd från 1 januari 2021. Han har ansvarat för koncernens spelverksamhet sedan januari 2019.
11/2/2020 11:49:28 AM - Rovio: Valuation missing option for growth - Nordea - Q3 marked another quarter of strong profitability thanks to Rovio's stable game portfolio and significantly lower user acquisition costs. The company's new outlook points to somewhat lower sales and significantly improved adjusted EBIT y/y, but Rovio postponed its guidance on game launches. The company will not launch more new games in 2020, while previous guidance called for one to two game releases. The postponement of game launches triggers negative estimate revisions for 2021-22. We find Rovio's current valuation undemanding and argue that the share price is missing an option for growth through M&A (see our report from 26 October) or an organic game launch.
10/30/2020 7:26:48 AM - Rovio ökade rörelseresultatet mer än väntat i tredje kvartalet - Finska spelbolaget Rovio redovisar en omsättning i linje med förväntat under tredje kvartalet. Rörelseresultatet var positivt och bättre än väntat.
10/26/2020 8:06:36 AM - Rovio: M&A provides substantial upside potential - Nordea - Rovio is currently trading at a considerable discount to its peers, which we believe is due to its slower growth profile and concentrated game portfolio. According to our illustrative M&A scenario, Rovio could reach a sales CAGR of 12% for 2020E-25E with solid EBIT growth and game portfolio diversification, which could trigger a rerating of the depressed valuation and provide considerable upside for the share. Even without M&A, we view the risk/reward in Rovio as positive. Applying a 35% discount to Western mobile gaming peers, we derive at a DCF- and peer multiples-based fair value range of EUR 6.8-8.9 per share. Marketing material commissioned by Rovio.
10/5/2020 6:13:22 AM - Rovios vd lämnar vid årsskiftet - Finska spelbolaget Rovio, som bland annat står bakom Angry Birds, meddelar att Kati Levoranta kommer att lämna som vd i slutet av året och styrelsen ska nu leta efter en ny toppchef.
9/8/2020 10:25:22 AM - Rovio: Nordea Virtual Gaming Seminar - Nordea - On Friday, 4 September, we hosted eight leading gaming companies to share their view on the future of gaming, the M&A landscape and to talk about how they are positioning for future growth. While all of the companies have a slightly different approach to this, it was clear that all see significant growth opportunities ahead, both organic through investing more into game development, and through M&A, as seven of the eight companies have a clear M&A agenda that seems more active than ever.
8/17/2020 9:45:19 AM - Rovio: One game launched and two studios added in Q2 - Nordea - Rovio's Q2 performance beat consensus on all fronts as Games' sales grew on the back of Angry Birds titles with user acquisition costs low at 21% of Games unit's sales.
8/14/2020 6:30:06 AM - Klart bättre än väntat från Rovio - Finska spelbolaget Rovio redovisar en omsättning som var högre än väntat under andra kvartalet. Rörelseresultatet var positivt och bättre än väntat.
4/28/2020 8:44:24 AM - Lägre intäkter men högre resultat för Rovio, planerar att släppa 1-3 nya spel under 2020 - Lägre intäkter men högre resultat för Rovio, planerar att släppa 1-3 nya spel under 2020
2/12/2020 8:26:16 AM - Rovio minskar omsättning och rörelseresultat under fjärde kvartalet - Rovio minskar omsättning och rörelseresultat under fjärde kvartalet
10/30/2019 7:44:04 AM - Investeringar i användarförvärv tynger Rovios resultat - Investeringar i användarförvärv tynger Rovios resultat
9/12/2019 7:39:58 AM - Rovio vinstvarnar - Rovio vinstvarnar
8/8/2019 7:48:02 AM - Rovio minskade rörelseresultatet men mindre än väntat i andra kvartalet, upprepar prognos - Rovio minskade rörelseresultatet men mindre än väntat i andra kvartalet, upprepar prognos
5/23/2019 1:42:20 PM - Rovio och Vodafone i samarbete kring Hatch - Rovio och Vodafone i samarbete kring Hatch
4/25/2019 8:30:22 AM - Rovio ökar omsättning men minskar rörelseresultat under första kvartalet - Rovio ökar omsättning men minskar rörelseresultat under första kvartalet
4/5/2019 8:25:26 AM - Rovio och Samsung i 5G-samarbete - Rovio och Samsung i 5G-samarbete
3/29/2019 11:55:15 AM - Rovio investerar i spelfonden Play Ventures, MTG tidigare investerare i fonden - Rovio investerar i spelfonden Play Ventures, MTG tidigare investerare i fonden
2/26/2019 1:44:02 PM - Inte svårt att se uppsida i Rovio efter noteringsfloppen, köp – Börsplus - Inte svårt att se uppsida i Rovio efter noteringsfloppen, köp – Börsplus
2/14/2019 7:49:01 AM - Rovio minskar omsättning och rörelseresultat under fjärde kvartalet - Rovio minskar omsättning och rörelseresultat under fjärde kvartalet
2/6/2019 8:09:02 AM - Rovio och NTT Docomo i samarbete - Rovio och NTT Docomo i samarbete
11/16/2018 7:47:00 AM - Rovio ökar omsättning och rörelseresultat under tredje kvartalet, snävar in helårsprognos - Rovio ökar omsättning och rörelseresultat under tredje kvartalet, snävar in helårsprognos
9/13/2018 9:16:47 AM - Rovio tecknar globalt licensavtal med leksakstillverkare - Rovio tecknar globalt licensavtal med leksakstillverkare
8/17/2018 7:45:49 AM - Rovio minskade resultatet men mindre än väntat i andra kvartalet - Rovio minskade resultatet men mindre än väntat i andra kvartalet
6/21/2018 7:06:30 AM - Affärsvärlden ger köpråd för Rovio, Tryg och Coor samt säljråd för Soltech Energy - Affärsvärlden ger köpråd för Rovio, Tryg och Coor samt säljråd för Soltech Energy
5/17/2018 8:03:28 AM - Rovio minskar omsättning men ökar rörelseresultat under första kvartalet, upprepar helårsprognos - Rovio minskar omsättning men ökar rörelseresultat under första kvartalet, upprepar helårsprognos
3/2/2018 12:19:53 PM - Rovio faller ytterligare efter bolagsrapport - Spelchef lämnar bolaget - Rovio faller ytterligare efter bolagsrapport - Spelchef lämnar bolaget
2/27/2018 2:17:00 PM - Gaming-special i Börslunch - "Finska Rovio är nu Europas billigaste gaming-aktie" - Gaming-special i Börslunch - "Finska Rovio är nu Europas billigaste gaming-aktie"
2/22/2018 5:44:22 PM - Brutal kursslakt i finska Angry Birds-tillverkaren Rovio - Brutal kursslakt i finska Angry Birds-tillverkaren Rovio