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Analyytikko
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.
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.
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.
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.
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).
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).
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.
Rovio's Q2 revenue was 5% below Infront consensus, whereas adjusted EBIT was in line.
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).
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.
