Tiscali 2001 Annual Report Download - page 29

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21
Report on Operating Performance
(in EUR mn)
2000 2001 %
Revenues 173.2 635.7 267%
Operating Expenses (216.2) (806.1) 273%
EBITDA (43.1) (170.4) 295%
Amortisation/Depreciation & Provisions (47.6) (135.7) 185%
EBIT before goodwill amortisation (90.7) (306.1) 237%
Goodwill amortisation (82.7) (362.2) 337%
EBIT (173.4) (668.2) 285%
Net Financial Income/(Charges) (7.2) 13.8 (292%)
Restructuring Charges (202.0)
Write-downs (815.1)
Other Extraordinary Charges (5. 4) (19.1) 254%
Profit (loss) Before Tax (186.0) (1.690.5) 808%
Tax (0.2) (1.1) 4000%
Minority interests 4. 8 27.2 466%
FY net profit (181.4) (1.664.4) 818%
The integration process implemented to date has led to considerable economies of scale
through the streamlining of production and management processes. As well as completion
of the network restructuring program. Further savings in connectivity costs were achieved
in the second half of 2001, as traffic driven on Tiscali's own network increased, and as the
Group enjoyed increased bargaining power in renegotiating access contracts. As these
costs constitute the main expense item, their percentage decrease against total revenues
has led to a significant rise in the gross industrial profit margin.
This positive trend is compounded by growth in revenues, which increased by 267% on the
previous year, thanks both to the Company's overall growth and the enlargement of its
consolidation area.
Breakdown of turnover by sector of activity