Tiscali 1999 Annual Report Download - page 30

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Following is a breakdown of amounts due from customers:
* $(Euro) 31/12/99 31/12/98 Change % Change
Customers in Italy 24,052,929 1,393,538 22,659,391 1626.03%
Customers abroad - - - -
less: reserve for bad debts (312,053) (26,516) (285,537) 1076.83%
Total 23,740,876 1,367,022 22,373,854 2702.86%
The sharp growth in these receivables is closely linked to the progressive consolidation of fixed telephone
services and the start of Internet access services; in particular roughly EURO 5,2 million of receivables are
payable by Telecom Italia S.p.A. as a consequence of reciprocal interconnection agreements. Invoicing of
this sum was deferred to year end, while awaiting the resolution of the pending appeal made to the
Communications Guarantee Authority. As a matter of prudence, the rates agreed with the Authority have
been entered while awaiting signature of the final agreement with Telecom Italia S.p.A. Should no
agreement be reached and should the proceedings have a positive outcome for Tiscali S.p.A, Telecom will
be required to pay Tiscali an additional amount for the inverse termination, with retroactive effect.
The remaining receivables are mainly linked to the substantial growth of activity in the last quarter.
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* $31st Dec. 1999 31st Dec. 1998
(Euro) Amounts receivable Amounts receivable
Within 1 year 1- 5 years After 5 years Within 1 year 1- 5 years After 5 years
-:
From customers 23,740,876 - - 1,367,022 - -
From subsidiary companies 1,477,161 - - - - -
From affiliated companies 11,879 - - - - -
From parent companies - - - - - -
From others 5,163,243 4,147,534 - 469,197 - -
30,393,159 4,147,534 - 1,836,219 - -