Tiscali 2007 Annual Report Download - page 122

Download and view the complete annual report

Please find page 122 of the 2007 Tiscali annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 165

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160
  • 161
  • 162
  • 163
  • 164
  • 165

TISCALI S.P.A. – SINANCIAL STATEMENTS AT 31 DECEMBER 2007
121
31.12.2007 31.12.2006
OPERATIONS
Net result for the period (23,842) (45,525)
Adjustments for:
Depreciation of tangible assets 86 279
Amortisation of intangible assets 305 307
Writedown of financial assets - 2,038
Writedown of equity investments 15,423 38,421
Capital gains (losses) on the disposal of equity investments 156 -
Stock Option costs 886 -
(6,986) (4,480)
(Increase)/Decrease in receivables (2,802) (3,912)
Increase/(Decrease) in payables to suppliers 17,152 (5,792)
Net changes in the provisions for risks and charges (4,285) (525)
Net changes in the staff severance indemnity fund (56) (74)
Changes in other liabilities (20) 785
Changes in other assets 11,548 2,111
21,538 (7,407)
NET CASH GENERATED FROM OPERATIONS 14,552 (11,887)
INVESTING ACTIVITIES
- Changes in other financial assets
(30,643) (3,468)
- Purchases of tangible fixed assets
(9) 16
- Purchases of intangible fixed assets
(5) (49)
- Payments for the sale of financial fixed assets
486 -
NET CASH USED IN INVESTING ACTIVITIES (30,171) (3,501)
FINANCING ACTIVITIES
Changes in financial assets --
Increase (decrease) in other non-current liabilities 27,900 10,125
Changes in shareholders’ equity - -
NET CASH ARISING FROM /(USED IN) FINANCING ACTIVITIES 27,900 10,125
Changes in assets disposed of and held for sale --
NET INCREASE / (DECREASE) OF CASH AND CASH EQUIVALENTS 12,281 (5,265)
CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE FINANCIAL YEAR (12,267) (7,002)
CASH AND CASH EQUIVALENTS 14 (12,267)
Cash Flow Statement (EUR 000)