Tiscali 2001 Annual Report Download - page 139

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131
Affiliated Companies
Goods for resale mainly consist of satellite equipment for the new "Tiscali Sat" service
(about EUR 0.8mn) and accessory equipment for the use of the Net Phone service.
II - RECEIVABLES
Receivables are broken down as follows:
Receivables from customers arise from the sale of telephone and Internet services mainly
consisting of the invoicing of reverse interconnection traffic and advertising revenues.
The decrease shown is due to the overall decrease in turnover, especially phone service
revenues.
Credit recovery action was more incisive than in past FYs.
In order to align the value of receivables with that of the presumed market value, the bad
debt provision has been set at approximately EUR 13.7mn.
C) CURRENT ASSETS
I - INVENTORIES - RAW MATERIALS, SUPPLIES AND CONSUMABLES
Inventories consist largely of goods for sale and consumables.
Following is a schedule of changes in the inventory:
Parent Company Financial Statements
SHARE SHAREHOLDERS' % CARRYING
COMPANY NAME HEAD OFFICE CAPITAL EQUITY PROFIT (LOSS) HELD VALUE
Ariete Telemedia Srl Milan (*) 52 (*) 114 (*) 48 40% 744
FreeTravel SpA Milan (*) 500 (*) 365 (*) (135) 50% 250
Total 994
(*) Data referring to 12.31.2000
12.31.2001 12.31.2000 CHANGE
Telephone cards and various consumables 244 213 31
Goods for resale 1,084 556 528
Total 1,328 769 559
12.31.2001 12.31.2000 CHANGE
EC customers 59,032 65,042 (6,010)
Non EC customers
Less: bad debt provision (13,678) (5,691) (7,987)
Total 45,354 59,350 (13,996)