Tiscali 2009 Annual Report Download - page 42
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41
Gross Operating Result (EBITDA)
Operational Income Statement – Group
31 December 2009 31 December 2008
Restated
EUR (mln)
Revenues 290.4 325.1
Gross Operating Margin (Gross Margin) 169.7 198.7
Indirect operating costs 82.8 125.1
Marketing and sales 16.7 36.4
Payroll and related costs 39.2 51.1
Other indirect costs 26.9 37.6
Other income/charges (1.2) (12.3)
Adjusted Gross Operating Result (EBITDA) 88.1 85.9
Write-down of receivables and other provisions 18.4 20.0
Gross Operating Result (EBITDA) 69.7 65.9
Amortisation/depreciation 46.7 52.8
Gross Result (EBIT) before restructuring costs
and provision for risks 23.0 13.1
Gross Result (EBIT) 11.4 (14.2)
Group Net Result (384.8) (242.7)
The adjusted Gross Operating Result (EBITDA) for the year, before provisions for risks, write-downs,
depreciation and amortisation, was EUR 88.1 million, a slight increase compared to the EUR 85.9 million
in 2008.
EBITDA net of write-downs of receivables and other provisions stood EUR 69.7 million in 2009 (24.0% of
revenues), essentially in line with the figure in 2008 (EUR 65.9 million, equal to 20.3% of revenues).
Fig. 4 – Evolution of the Group Operating Result (adjusted EBITDA)
Source: Tiscali
Report on operations
..
Incidence on revenues (%)
Ebitda Incidence on revenues (%)