Buongiorno S.p.A Financial Results Q1 2009

Buongiorno S.p.A Financial Results Q1 2009

MILAN and LONDON, May 11/PRNewswire/ -- The Board of Directors of Buongiorno S.p.A. (MTA, Borsa Italiana: BNG), a leading multinational in digital entertainment, has today announced quarterly results for the three months ended March 31st 2009, prepared in accordance with the IAS/IFRS.

Financial Highlights

          - Revenues amounted to EUR67 million due to rationalisation of       the product portfolio and changes in accounting policies used        for certain outstanding contracts (Q1 2008: EUR79 million)      - EBITDA up to EUR8.4 million (Q1 2008: EUR8.2 million)      - Net debt of EUR67.3 million at March 31, 2009 (EUR75.5       million at March 31, 2008)      - A binding agreement has been signed with a pool of banks       headed by Banca IMI (an Intesa Sanpaolo Group Bank) for total        refinancing of EUR87 million  

Operational Highlights

          - Number of B2C Customers up: >7 million active subscribers worldwide.      - The traditional core Mobile Content 1.0 business line is strong and       continues to show good results      - New Mobile Content 2.0 initiatives have been launched. For instance:       peoplesound, the made-for-mobile social network, and, HelloTxt, the        microblog aggregator service which has surpassed 30,000 registered        users worldwide in just a few months.      - CRM solutions have been launched with Buongiorno's innovative       proprietary technological solution "Intelligent Mobile Marketer (IMM),        for example with 02-Telefonica for its prepaid customer loyalty scheme        "O2 Top Up Surprises".  

Andrea Casalini, Chief Executive Officer of Buongiorno S.p.A commented, "The results of this first quarter are in line with our plans and demonstrate once again the soundness of our traditional business (Mobile Content 1.0), even in a difficult macro-economic environment. We will persist with our strategy of efficiently managing our traditional business, which will result in significant cash flow maximisation in the next 3 years, and at the same time launching innovative products such as peoplesound to fully exploit Buongiorno's position in the growing mobile internet market."

To view in-depth details, including an operational review and financial review, breakdown by geographical region and business line, and outlook please follow this link:

http://www.buongiorno.com/investors/investors_6.html?1014799821:

          For further information, please contact:      ICIS     UK Financial Press and Financial     Analysts     Tom Moriarty or Fiona Conroy     Tel: +44-207-651-8688     Email: Fiona.Conroy@icisenet.com  

Source: Buongiorno S.p.A

For further information, please contact: ICIS, UK Financial Press and Financial, Analysts, Tom Moriarty or Fiona Conroy, Tel: +44-207-651-8688, Email: Fiona.Conroy@icisenet.com. BUONGIORNO, Eleonora Villanova, Global PR & IR Executive, Tel. +39-02-582131, Email: eleonora.villanova@buongiorno.com

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Profile: International Entertainment