Tiscali 2009 Annual Report Download - page 43

Tiscali Group: Annual Report 2009
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Indirect operating costs amounted to EUR 82.8 million for the year (28.5% of revenues), down compared
with the previous year (EUR 125.1 million, 38.5% of revenues).
These included payroll and related costs of EUR 39.2 million in 2009, down compared with 2008 (EUR
51.1 million), but down by roughly 2% in terms of its incidence on revenues (15.7% in 2008 compared
with 13.5% in 2009).
To illustrate the matter more clearly, here are the details of the operating costs/revenues making up the
Gross Operating Result, as shown in the income statement table. In particular, the reconciliation between
“purchase of materials and outsourced services” and “other operating costs” with the indirect operating
costs described in this paragraph is pointed out.
31 December 2009 31 December 2008
Restated
EUR (mln)
Revenues 290.4 325.1
Other revenues 3.2 5.3
Purchase of materials and services. of which: 159.1 195.7
- marketing 16.7 36.4
- indirect costs (*) 21.7 33.0
- other direct costs 120.7 126.4
Payroll and related costs 39.2 51.1
Other operating costs. of which: 7.1 (2.4)
- other indirect costs (*) 5.2 4.6
- other operating costs 1.9 (7.0)
Gross Operating Result (Adjusted) 88.1 85.9
(*) Total Indirect Costs 26.9 37.6
Operating Result (EBIT)
The 2009 Operating Result (EBIT), net of provisions, write-downs and restructuring costs, was roughly EUR
11.4 million, against a negative EUR 14.2 million in 2008.
Provisions for risks, write-downs of receivables and other provisions amounted to EUR 11.7 million in
total in 2009 and mainly include the costs of restructuring the Senior Debt. The corresponding figure at
31 December 2008, at EUR 27.3 million, included roughly EUR 15 million in provisions to cover charges
relating to the Group’s restructuring plan. Essentially concluded at the end of 2009.
Amortisation/depreciation amounted to EUR 46.7 million in 2009 (EUR 52.8 million in 2008).