News
Buongiorno profits up 13 per cent
Stuart O'Brien Mar 26 2008, 9:56am
Italian D2C content giant generated net profits of 13.8m euros in 2007.
Revenue for the year was down slightly at 175 million euros, compared to 192 million euros in 2006.
However, the preliminary figures published this morning do not include contributions from iTouch, which Buongiorno acquired last July. Proforma revenues for FY07 (including iTouch) amounted to 319 million euros.
The largest share of revenue was generated by Buongiorno's Consumer Services division (i.e. the Blinko portals), which posted turnover of 154.2 million euros (88 per cent of the total), while Marketing Services achieved a turnover of 20.6 million euros.
In terms of FY2008 guidance, Bourgiorno's board of directors expects revenues of 330-350 million euros and EBITDA of 41-45 million euros.
The company has also set the objective of achieving savings of 10 million euros by mid-2009 as a result of the iTouch acquisition.
