Rovio has announced its annual financial results for 2013, the 12 months ending 31 December 2013.
Revenue was $215 million (€156 million), up 2.5 percent compared to 2012.
Of this, Rovio's physical consumer products group accounted for 47 percent.
Earnings before interest and taxes were $50 million (€36.5 million), down 52 percent.
Net profit after tax was $37 million (€26.9 million), down 51 percent.
Just resting
CFO Herkko Soininen described the year as a "foundation-building year".
"After three years of very strong growth, 2013 was a foundation-building year. We invested in new business areas, such as animation and video distribution, ventured into new business models in games, and consolidated our strong market position in consumer products licensing.
"With these investments we have been gearing up for the future growing markets"
The obvious issue for Rovio has been the huge success of its paid Angry Birds games meant it was late into free-to-play monetisation; something which has proven to be much more lucrative for hit games.
With these investments we have been gearing up for the future growing marketsCFO Herkko Soininen
For example, fellow Finnish developer Supercell announced 2013 revenues of $892 million, up from $101 million in 2012. Its earnings were $464 million.
In that sense, the company provides a classic example of The Innovator's Dilemma.
Big screen
Looking to the future, CEO Mikael Hed provided more detail on the areas in which Rovio - which now has 800 staff - was investing.
"In 2013 we formed a world-class movie animation production team in Los Angeles that is already working on the first Angry Birds feature film, to be globally premiered in July 2016.
"In addition we built the biggest animation studio in the Nordics for the production of animated TV content, bringing to market 42 Angry Birds Toons episodes in its first year," he said.
The Angry Birds Toons series has had over 2 billion views to-date, and the Angry Birds games have been downloaded over 2 billion times.
[source: Rovio]
