Tiscali 2008 Annual Report Download - page 114

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Tangible assets (property, plant and machinery) and other
intangible assets total, respectively EUR 0.07 million and EUR
0.3 million, while other financial assets total EUR 5.5 million.
Current assets
Current assets mainly include Receivables from customers for
EUR 24 million (of which EUR 20 million due from Group
companies), compared with EUR 45 million last year (of which
EUR 43.5 million due from Group companies).
The same item also includes “Other receivables and other
current assets” totalling EUR 2.4 million, disclosing an
increase of EUR 1.1 million with respect to last year, due to the
payment of advances to suppliers.
Liabilities
Non-current liabilities
Non-current liabilities, in addition to the items relating to the
financial position in relation to which reference should be
made to the following note, include provisions for risks and
charges of EUR 40 million generated from provisions set aside
for disputes and contingent liabilities.
Current liabilities
Current liabilities not relating to the financial position are
represented mainly by payables to suppliers totalling EUR 22
million (of which EUR 11 million due to Group companies)
compared with EUR 44 million last year (of which EUR 32
million due to Group companies).
The Parent Company’s financial position is shown in the table
below:
(EUR 000) 31.12.2008 31.12.2007
A. Cash 1 171
B. Other cash equivalents 1,372 2,012
C. Securities held for trading - -
D. Cash and cash equivalents (A) + (B) + (C) 1,373 2,183
E. Current financial receivables (*) 5,025 4,082
F. Current bank payables (627) (2,169)
G. Current portion of non-current debt - -
H. Other current financial payables (45,753) (234,270)
I. Current financial debt (F) + (G) + (H) (46,379) (236,439)
J. Net current financial debt (I) – (E) – (D) (39.982) (230.174)
K. Non-current bank payables - -
L. Bonds issued - -
M. Other non-current payables to Group companies (3,108) (1,792)
N. Other non-current payables to third parties (515) -
O. Non-current financial debt (K) + (L) + (M) + (N) (3,623) (1,792)
P. Net financial debt (J) + (O) (43,605) (231,966)
(*) The table presented in note 29, Net financial position, does not include Current financial receivables
“Other current payables” are represented by financial payables
to the subsidiary Tiscali International BV, a sub-holding company
of the Tiscali Group.
TISCALI S.P.A. - 2008 FINANCIAL STATEMENTS
113