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Buongiorno S.p.A Financial Results Q1 2009
MILAN and LONDON, May 11 /PRNewswire/ -- The Board of Directors of Buongiorno S.p.A. (MTA, Borsa
Italiana: BNG), a leading multinational in digital entertainment, has today
announced quarterly results for the three months ended March 31st 2009,
prepared in accordance with the IAS/IFRS.
Financial Highlights
- Revenues amounted to EUR67 million due to rationalisation of
the product portfolio and changes in accounting policies used
for certain outstanding contracts (Q1 2008: EUR79 million)
- EBITDA up to EUR8.4 million (Q1 2008: EUR8.2 million)
- Net debt of EUR67.3 million at March 31, 2009 (EUR75.5
million at March 31, 2008)
- A binding agreement has been signed with a pool of banks
headed by Banca IMI (an Intesa Sanpaolo Group Bank) for total
refinancing of EUR87 million
Operational Highlights
- Number of B2C Customers up: >7 million active subscribers worldwide.
- The traditional core Mobile Content 1.0 business line is strong and
continues to show good results
- New Mobile Content 2.0 initiatives have been launched. For instance:
peoplesound, the made-for-mobile social network, and, HelloTxt, the
microblog aggregator service which has surpassed 30,000 registered
users worldwide in just a few months.
- CRM solutions have been launched with Buongiorno's innovative
proprietary technological solution "Intelligent Mobile Marketer (IMM),
for example with 02-Telefonica for its prepaid customer loyalty scheme
"O2 Top Up Surprises".
Andrea Casalini, Chief Executive Officer of Buongiorno S.p.A
commented, "The results of this first quarter are in line with our plans and
demonstrate once again the soundness of our traditional business (Mobile
Content 1.0), even in a difficult macro-economic environment. We will persist
with our strategy of efficiently managing our traditional business, which
will result in significant cash flow maximisation in the next 3 years, and at
the same time launching innovative products such as peoplesound to fully
exploit Buongiorno's position in the growing mobile internet market."
To view in-depth details, including an operational review and
financial review, breakdown by geographical region and business line, and
outlook please follow this link:
http://www.buongiorno.com/investors/investors_6.html?1014799821:
For further information, please contact:
ICIS
UK Financial Press and Financial
Analysts
Tom Moriarty or Fiona Conroy
Tel: +44-207-651-8688
Email: Fiona.Conroy@icisenet.com
