Earnings: Buongiorno Revenues Fall 15% In First Quarter, EBITDA Up Slightly

imageItalian mobile content vendor Buongiorno (BIT: BNG) has released its results for the first quarter of 2009. The compny saw revenue fall by over 15 percent year-on-year, from 79 million euros (US$107.4 million) in the first quarter of 2008 to 67 million euros (US$91 million) in the first quarter of this year. However, EBITDA rose by 2.4 percent over the same period, from 8.2 million euros (US$11.1 million) in the first quarter last year to 8.4 million euros (US$11.4 million) this year.

Buongiorno reports that its traditional B2C business is weathering the economic downturn well, with worldwide clients increasing to more than 7 million due to growth in emerging markets such as Brazil and Mexico. Growing demand for “anti-cyclical services” such as lotteries in Latin America and Nigeria has also helped, as has a growing trend for telcos to outsource their portals. Buongiorno also recently launched a mobile social network called Peoplesound and HelloTxt, a microblog aggregator service which has surpassed 30,000 registered users worldwide in just a few months.

The company has a net debt of 67.3 million euros and has signed a refinancing agreement for 87 million euros.

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