Famed for making the hit mobile game Angry Birds, Rovio announced it has suffered an operating loss of â‚¬13 million ($14.75 million) in 2015. The company attributed the dip in figures to investments in its upcoming feature-length film and restructuring, Reuters reports.
In contrast, the company posted an operating profit if â‚¬10 million in 2014 and â‚¬77 million in 2012. Rovio has failed to sustain the growth it witnessed in its early years reportedly due to an inability to repeat the success of the first Angry Birds game with its subsequent titles. This also led to Rovio reducing its workforce by a third.
It is reported that Rovio's sales fell from â‚¬158 million last year and that it made â‚¬142 million in 2015. However, Rovio also reported its sales from games are picking up, posting revenue of about â‚¬114 million.
"This year's first quarter is already profitable and the outlook for the rest of the year is positive," CEO Kati Levoranta said in a statement.
The company is currently expecting its upcoming 3D Hollywood movie to boost revenues through licensing deals.
"It has long been our dream to take Angry Birds to the big screen. I am so proud of the movie. It has a great, funny story, brought to life by an amazing cast accompanied by gorgeous animation and music. I can't wait for everyone to see it," Rovio Animation Company chairman Mikael Hed told City A.M.
Since the launch of Angry Birds in 2009, Rovio has released several titles under the Angry Birds franchise. Rovio Animation also launched ToonsTV, a multi-platform on-demand video service featuring a mix of original content developed by Rovio as well as syndicated shows. Rovio also publishes third-party developed games through Rovio Stars.