Buongiorno Second Quarter Earnings

Buongiorno LogoBuongiorno Vitaminic has released its second quarter report for this year — the PDF is here.
It’s fairly positive all round, from my reading…core busines revenues for the quarter increased 59% year-on-year, from 30 million to 47.9 million euro, and operating profit was around 5 million euro, up from 1.5 million euro for Q2 2005. The first six months of the year increasing by 70% compared to the same period in 2005, 57.9 million to 98.3 million euros. Acquisitions accounted for 8% of the increase in the first half of the year — most of it was organic.
Buongiorno sells content through both direct (Blinko brand) and indirect channels. “The excellent results for the first half of 2006 were mainly attributable to the Direct channel growth in Italy, Spain and the United States, as well as by the important long-standing partnerships with telephone operators and media groups”, reads the earnings report.
Buongiorno experienced the strongest growth in the US, where sales increased by more than 480% year-on-year to 16.4 million euros. “Growth was also sustained in the Iberian Peninsula and South America (+20%), and in Central Europe (+19%). In Northern Europe, while Consumer Services operations expanded sharply, Marketing Services operations were downsized, especially the CD Premium segment, in accordance with the Industrial Plan, limiting the growth in turnover in that region to 9%.” The company opened subsidiaries in Turkey, Brazil, Bolivia, Ecuador, Peru, Colombia and Chile.
Some more figures…”Within the Consumer Services, in Q2 2006, about 370 million digital objects were delivered, up from 140 million in the same period of 2005. In the first six months, deliveries amounted to over 668 million, as against 235 million. End users (unique GSM numbers) reached in the first half of 2006 were approximately 40 million.” Which is an average of nine digital objects per customer…

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