MOBILE DATA services provider Zamano saw revenues fall by 39 per cent in 2009 to €25.1 million from €41.4 million a year earlier.

The company attributed the decline in revenues on a shift to higher margin, lower volume products and services, and a shift away from advertising in print and TV to advertising on mobile devices.

“The year was very tough. Obviously the decline in revenues was something which was not foreseen but we focused on cash generation and profitability and on a better margin in order to take a lot of risk out of the business,” said Zamano’s chief executive John O’Shea.

The British market contributed to 80 per cent of the decline in 2009 revenue with the balance in Ireland and Australia. However, profit grew organically in the US, Spain and South Africa, which, together contributed 18 per cent of total revenue.

During 2009, Zamano returned to profitability with a profit after tax of €1.1 million compared to a loss of €3.8 million a year earlier.

Gross profit for the year amounted to €8.4 million as against €11.4 million in 2008. Cost of sales declined from €29.9 million to € 16.6 million over the year in question.

Earnings before interest, tax, depreciation and amortisation (Ebitda) declined by 14 per cent to €4.3 million as against €5 million in 2008 while Ebitda margin increased to 17 per cent from 12 per cent over the year.

Gross debt at year end was €9.2 million compared to €12.9 million in the preceding 12 months while net cash was €7 million as against €5.7 million in 2008. Net debt was €2.2 million, a reduction of 69 per cent from €7.2 million while cash generated from operations totalled €.4.6 million.