Refocusing pays off for Netgem
By Julian Clover
Published: September 1, 2010 07.32 Europe/London
Netgem’s refocusing of its core technology business has paid off for the French set-top developer to the tune of €25.9 million. Operating profits increased by 34% in the first half of 2010 while revenue increased by 6% to €74.3 million. The company is attributing the rise to efforts to bring down hardware costs. There were also additional non-recurring revenues linked to the transfer of license rights to SFR.
Consolidated net profits of €19.7 million included a €5.4 million non-recurring non-cash gain due to the deconsolidation of the VideoFutur entertainment venture.
Netgem is looking for further client wins in Europe and Asia Pacific. The company has been promoting its over-the-top television concept that brings a managed portal over an existing broadband infrastructure. Already deployed by Monaco Telecom and Australia’s Telstra its most recent win is Slovenia Telecom.
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