March 26, 2008 03:01 ET

Buongiorno S.p.A Preliminary Results for the Year Ending 31st December 2007

MILAN, ITALY--(Marketwire - March 26, 2008) - Buongiorno (MTA STAR, Borsa Italiana:BNG), the world leader in mobile entertainment, has approved the preliminary results for FY07, prepared in accordance with IAS/IFRS. Financial data for FY07 refers to Buongiorno stand alone and does not consolidate iTouch figures.

Financial Highlights FY07

- Year on year net profit increase of 13% to Euro 13.8 million.

- Performa revenues (including iTouch) of Euro 319 million, and EBITDA of Euro 40 million; exceeding FY07 Guidance.

- The revenue figures of Buongiorno standalone for FY07 amounted to Euro 174.9 million and EBITDA of Euro 21.6 million; both are at the upper end of the estimates presented in the strategic plan (Euro 172-178 million and EBITDA at Euro 20-22 million).

- Net financial position is Euro -67 million, better than guidance.

- Guidance for FY08 confirmed, with revenues forecasted between Euro 330 million and Euro 350 million, EBITDA at between Euro 41 million and Euro 45 million.

- The company has also set the objective of achieving savings totaling Euro 10 million by mid-2009 as a result of the iTouch acquisition.

- Buongiorno will invest Euro 10 million in FY08 to capture the mobile social networking trend.

Business Progress: Mobile Social Networking Application 'BING'

Since its successful market testing, launched in June 2007 in South Africa and Austria, Buongiorno has rolled out BING, its mobile social networking solution, to a larger global market in 2008, including the 9 new geographies of the UK, Brunei, India, Indonesia, Italy, the Netherlands, Spain, Switzerland and Vietnam.

The extensive reach into 11 countries has been achieved by Buongiorno's impressive connection to the mobile population in 53 countries. To date BING scores over 20 million messages exchanged per week, (quadruple late 2007 figures) and over 1.2 million logins.

Buongiorno will be investing Euro 10 million in designing a new product- an upgrade of BING that will allow the company to further capture the mobile social networking trend. Social networking is expected to attract advertising amounting to over USD 2.1 billion by 2008, representing a staggering increase of 75% since 2007, in a market where consolidation is already taking place.

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