Earnings: Buongiorno FY08 Revs Up 80 Percent Year-On-Year, Pro-Forma Mostly Flat

Buongiorno’s full year revenue for 2008 was 315 million euros (US$402 million) according to a pre-close statement, an increase of 80 percent compared to the 175 million euros earned in 2007. EBITDA also increased significantly, rising from 21.6 million euros in 2007 to 39.8 million euros (US$50.8 million) before extraordinary items in 2008. The fourth quarter of 2008 is reported as being the strongest in Buongiorno’s history, with revenues of 83 million euros (US$106 million) and EBITDA before extraordinary expenses of 13.1 million euros (US$16.7 million). However, “the results for Q4 2008 were also substantially in line with the pro-forma data (Buongiorno (BIT: BNG) and iTouch) for Q4 2007, with a slight improvement in profitability – revenues amounted to