Mobile games developer and publisher InnoGames had a record-breaking year in 2020.
The German studio saw €220 million ($266 million) in revenue, a rise of 15 per cent year-on-year. Furthermore, it is the 14th consecutive year that the company has experienced financial growth.
Furthermore, the developer and publisher had a Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) margin of 29 per cent.
InnoGames has cited its mobile titles and the ongoing coronavirus pandemic as key drivers in its record-breaking year.
In 2020, COVID-19 swept across the globe, forcing many people to go into isolation at home as lockdown restrictions were put in place. As a result, mobile games increased in popularity, with millions of users turning to their phones for entertainment.
As for specific titles, Forge of Empires played a huge part in the company's growth, as did Elvenar, Tribal Wars and Grepolis. Across both web and mobile platforms, InnoGames portfolio had a 13 per cent increase in average revenue per daily active user.
"2020 has been an extraordinary year. We are proud of our sustainable growth and would like to thank our players, colleagues and everyone else involved for their ongoing commitment and support," said InnoGames co-founder and CEO Hendrik Klindworth.
"Our seamless transition to home office and our core strengths allowed us to continue to provide high-quality virtual worlds for players to safely connect."
"Looking ahead, we are excited about the pipeline of new mobile games coming this year and to bring them to players everywhere with our expertise in marketing, analytics and live operations.
"Simultaneously, we are continuing to expand and optimize our iconic portfolio of forever franchises."
In December 2020, Modern Times Group increased its controlling stake in InnoGames from 51 per cent to 68 per cent.