By Joe Hoppe
Rovio Entertainment Oyj said Wednesday that it has updated its long-term financial targets, now aiming to grow revenue faster than the wider Western mobile gaming market, and for adjusted Ebitda to grow in line with long-term revenue growth.
The Finnish videogame developer, behind the Angry Birds mobile-gaming franchise, also backed its existing target of a dividend payout of around 30% of adjusted yearly net profit.
The company said it intends to drive its growth plans through three main avenues, specifically launching high-quality games of a meaningful scale for long-term cash flow, investing in forward looking products and making acquisitions that can benefit from its growth platform Beacon.
“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,” Chief Executive Alexandre Pelletier-Normand said.
Write to Joe Hoppe at joseph.hoppe@wsj.com
