BlinkoGold subscribers now at six million globally.
Italy's Buongiorno has posted its preliminary FY 2008 results, including consolidated revenues of €315 million (up 80 per cent from FY07) and EBITDA, before extraordinary items, of €39.8 million.Q4 revenue was also up 80 per cent at €83 million (the best quarterly performance in the company's history), while Q4 EBITDA was up 87 per cent to €13.1 million.
The company has attributed its growth to an overall increase in the number of BlinkoGold subscribers (now at six million), its exclusive management of Movistar's of mobile lottery initiatives in 12 Latin American countries and in Africa, and its B2B content portal solutions.
The full year EBITDA fell within the upper segment of the guidance range and was achieved in part due to the cost synergies obtained through the iTouch acquisition and effective cost control.
Cost savings came in at €10.5 million YoY, compared to €7.8 million originally estimated for the end of 2008 and €10 million for 30 June 2009.
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Andrea Casalini, Chief Executive Officer at Buongiorno, said: “Despite the adverse macroeconomic environment, regulatory and industry trends that tend to slow down demand for first-generation mobile content services, and strong competition in our segment of the market, we were still able to consolidate the 2007 pro-forma results with iTouch.
"This was achieved, through remaining highly commercially reactive, therefore able to provide timely guidance for growth opportunities in various geographical markets, and able to promptly cut costs to account for negative market dynamics in other countries or regions."
