Tiscali 2009 Annual Report Download - page 189

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Tiscali Group: Annual Report 2009
188
31 December 2009 31 December 2008
(EUR 000)
A. Cash 6 1
B. Other cash equivalents 2,425 1,372
C. Securities held for trading - -
D. Cash and cash equivalents (A) + (B) + (C) 2,431 1,373
E. Current financial receivables (*) 2,120 5,026
F. Current bank payables (590) (627)
G. Current portion of non-current debt
H. Other current financial payables (36,014) (45,753)
I. Current financial debt (F) + (G) + (H) (36,604) (46,379)
J. Net current financial debt (I) – (E) – (D) (32,053) (39,981)
K. Non-current bank payables - -
L. Bonds issued - -
M. Other non-current payables to Group
companies (2,090) (3,108)
N. Other non-current payables to third parties 0 (515)
O. Non-current financial debt
(K) + (L) + (M) + (N) (2,090) (3,623)
P. Net financial debt (J) + (O) (34,143) (43,604)
The net financial position indicated in the table above is reconciled with the net debt shown in the Report
on Operations as follows:
31 December 2009 31 December 2008
(EUR 000)
Net debt as per the Report on operations (33,659) (42,169)
Non current financial receivables (484) (1,435)
Net financial position (34,143) (43,605)
Financial risk management
Financial risk management objectives
The Group’s Corporate Treasury division provides business services, co-ordinates access to the local and
international financial markets, and monitors and handles the financial risk associated with Group operations
by means of internal risk reports which analyze the exposures by degree and magnitude of the risk. These
risks include market risks (inclusive of currency risks, fair value interest rate risks and price risks), credit
risks and risks in cash flow interest rates.