Buongiorno First-half Revenues Down, Profits Up
Buongiorno has released its results for the first half of 2010. Revenues are slightly down on the corresponding period for 2009 at €127m (£106m) compared to €132.3m last year, but the company says it enjoyed a strong second quarter, with Q2 revenues of €67.7m, up 13 per cent on the previous quarter. Operating Income for the first half of 2010 was about €10.9m, compared to €11.7m in H1 2009, while pre-tax profit amounted to approximately €10.7m, significantly up on H1 2009’s €5.9m.
Revenues from Buongiorno’s B2C (direct-to-consumer) division totalled €71.9m. The B2B business, which Buongiorno says is more volatile, in part because it is tied to campaigns in partnership with operators, media groups and brands, saw a significant slowdown in revenue in the first six months of the year compared to the same period of last year. ON a more positive note, in the first six months of 2010, several major contracts were signed, including agreements with two big European operators - Proximus/Belgacom in Belgium and O2 in Germany - for the launch of two loyalty schemes for prepay customers, based on the contextual marketing program Recharge and Win (RAW).
The B!Digital division posted a 44 per cent increase in revenues, and has signed a number of major agreements with international brands such as: Coty (Rimmel) for an interactive campaign on iPhones; BNL BNP Paribas for creating and managing a mobile advertising campaign; and Comcast (E!news) for developing the iPhone app, E!entertainment TV.