Tiscali 2007 Annual Report Download - page 67

Download and view the complete annual report

Please find page 67 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

CONSOLIDATED FINANCIAL STATEMENTS AND EXPLANATORY NOTES AT 31 DECEMBER 2007
66
2007 2006
OPERATIONS
Result pertaining to the parent company (75,324) (136,614)
Adjustments for:
Share of results of equity investments assessed in accordance with the equity method 10 937
Amortization of properties, plant and machinery 58,377 41,129
Amortization of intangible activities 104,367 88,966
Goodwill writedown 68,262 71,000
Net capital losses/gains from disposals of properties, plants and machinery (1,485) (82)
Profit/losses deriving from the disposals of subsidiaries net of taxes (199,227) -
Increases in provisions for risks and receivable writedowns 27.332 15,394
Staff costs relating to stock options 9,969
Other unusual income - (77,229)
Income Taxes (17,305) (5,851)
Financial income/charges 90,683 51,726
Cash flow from operations before capital changes 65,659 49,376
(Increase)/Decrease in inventories (6,672) 451
(Increase)/Decrease in trading activities and other (53,570) (15,611)
(Increase/Decrease) in trading liabilities and other 14,107 27,136
(Increase)/Decrease in other liabilities (12,547) (4,616)
(Increase)/Decrease in risk provision (9,435) 21,184
(Increase)/Decrease in staff severance provision (342) 86
Cash and Cash Equivalents deriving from operations (2,800) 78,006
Payed interests (85,943) (38,537)
Payed income taxes (890) (1,960)
NET CASH FROM OPERATIONS (89,633) 37,509
INVESTMENT ACTIVITY
Income from financial assets acquisition - 14,796
Payments for acquisitions of financial assets (6,110) -
Equity investment acquisitions - 2,297
Countervalue from the sale of properties, plant and machinery 7,587 6,086
Countervalue from the sale of “sale & lease back” properties 61,400 -
Countervalue from the sale of intangible assets 2,887 5
Received interest 4,443 1,323
Acquisition of properties, plant and machinery (103,311) (77,410)
Acquisition of sale & lease back properties (61,400) -
Acquisition of intangible assets (90,183) (101,422)
Goodwill increase (392) -
Acquisition of subsidiaries (269,403) -
Countervalue from the disposals of subsidiaries 282,140 -
NET CASH USED FOR THE INVESTMENT ACTIVITY (172,342) (158,919)
FINANCIAL ACTIVITY
Income from issuing shares of the subsidiary for third parties 18,427 -
Income from issuing convertible bond loans 60,000 -
Repayment of convertible bond loans - (146,954)
Payments for issuing costs relating to shares and convertible bond loans (2,250) -
Income from loans 880,000 268,681
Repayment of loans (625,230) (6,680)
Payments for issuing cost relating to payables (14,342) (9,608)
Increase in payables for financial leases 70,748 (6,279)
NET CASH DERIVING FROM/(USED FOR) THE FINANCIAL ACTIVITY 387,353 99,160
NET INCREASE/(DECREASE) IN NET CASH AND CASH EQUIVALENTS 125.378 (22,250)
Cash and cash equivalents of the assets operating at the beginning of the financial year 3,824 30,005
Cash and cash equivalents of the assets disposed of and destined to sale at the beginning of the financial year 5,029 1,099
CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE FINANCIAL YEAR 8.853 31,104
Cash and cash equivalents of the assets operating at the end of the financial year 134,231 3,824
Cash and cash equivalents of the assets disposed of and allocated at the end of the financial year - 5,029
CASH AND CASH EQUIVALENTS AT THE END OF THE FINANCIAL YEAR 134,231 8,853
Consolidated Cash Flow Statemet (EUR OOO)