Netgem is continuing to develop its international revenues through deals in Australia, Mexico and Croatia. The total for the first half of 2011 was €19.5 million, up 55%.

In all, the French set-top developer recorded consolidated revenues of €43.2 million, 45% from international sales. Revenues from the domestic market fell to €23.7 million from €62 million, largely as a result of last year’s one-off payment from SFR in respect of a software licence.

SFR continues to be a key client for Netgem. Last month the French IPTV operator renewed its contract for another three years, but moving more towards a service and software-orientated model, meaning revenues will be lower than in the previous contract.