Tiscali 2001 Annual Report Download - page 109

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101
Consolidated Financial Statements
FINANCIAL STATEMENT (FLOWS)
It is hereby certified that these Consolidated Financial Statements, consisting of the
Balance Sheet, the Profit and Loss Statement and the Notes to the Financial Statements,
provide a fair and accurate presentation of the Group's financial position and earnings for
the period referenced herein.
The Board of Directors
The Chairman
Renato Soru
CASH FLOWS GENERATED FROM OPERATIONS 12.31.2001 12.31.2000
Profit (Loss) for the FY (1,664,429) (181,387)
Adjustments for accounts not affecting cash flow
Depreciation and amortization of non-current assets 1,350,857 102,619
Provision to staff severance indemnity reserve 1,427 961
Funds set aside (used) for deferred taxes 446 (222)
Capital gains (losses) for disposal of assets (447)
Changes in current assets and liabilities (311,699) (78,476)
Receivables from customers (159,361) (152,973)
Other receivables (106,245) (49,394)
Inventories (11,831) (5,054)
Accrued income and deferred charges 5,433 (45,693)
Trade accounts payable 138,836 178,268
Other liabilities 50,998 160,350
Accrued liabilities and deferred income 18,696 54,109
Reserve for taxes payable (22,320) 1,266,936 53,293 295,817
Cash flows generated from operations (397,493) 114,430
CASH FLOWS FROM INVESTMENT ACTIVITY
Net increases in technical fixed assets (284,796) (177,713)
Net increases in intangible assets (1,027,508) (1,175,879)
(Increase) decrease in participations (860) (1,313,164) (40,159) (1,393,751)
CASH FLOWS FROM FINANCING ACTIVITY
New loans 101,260 271,075
Reimbursement of loans 6,840 (1,314)
Other net equity changes 564,983 2,251,383
Reduction (increase) in other non-current assets 7,806 (9,431)
Increase (decrease) in other M/L-term liabilities 8,050 688,939 25,817 2,537,530
Differences due to the conversion of financial statements into foreign currencies 10,653 7,039
INCREASE (DECREASE) IN CASH & CASH EQUIVALENTS (1,011,065) 1,265,248
CASH AND CASH EQUIVALENTS - OPENING BALANCE 1,365,591 100,343
CASH AND CASH EQUIVALENTS - CLOSING BALANCE 354,526 1,365,591