Tiscali 2009 Annual Report Download - page 77

Download and view the complete annual report

Please find page 77 of the 2009 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 220

  • 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
  • 166
  • 167
  • 168
  • 169
  • 170
  • 171
  • 172
  • 173
  • 174
  • 175
  • 176
  • 177
  • 178
  • 179
  • 180
  • 181
  • 182
  • 183
  • 184
  • 185
  • 186
  • 187
  • 188
  • 189
  • 190
  • 191
  • 192
  • 193
  • 194
  • 195
  • 196
  • 197
  • 198
  • 199
  • 200
  • 201
  • 202
  • 203
  • 204
  • 205
  • 206
  • 207
  • 208
  • 209
  • 210
  • 211
  • 212
  • 213
  • 214
  • 215
  • 216
  • 217
  • 218
  • 219
  • 220

Tiscali Group: Annual Report 2009
76
9.4 Cash Flow Statement
31 December 2009 31 December 2008
Restated
(EUR 000)
OPERATIONS
Result from operating activities (14,698) (127,736)
Adjustments for:
Depreciation of tangible assets 26,403 23,839
Amortisation of intangible assets 20,252 28,992
Allowance for bad debt provision 17,919 18,196
Inventory write-down - 1,446
Capital gains on disposal of non-current assets – tangible
(Sa Illetta)
(2,108) (2,108)
Capital gains on disposal of non-current assets – tangible (5) -
Tiscali International BV deferred tax assets 10,507 23,844
Year-end income taxes 1,628 1,193
Write-down of fixed assets 165 14,948
Valuation of equity investments carried at shareholders’
equity
33 101
Provisions for risks and restructuring charges 2,197 10,107
Release of provisions for risks (1,237) -
Stock Option cost 465 2,893
Provision for employee severance indemnities and pension
obligations
2,165 2,565
Facility D2 Senior Lenders Write-off (42,322)
Fair value of financial instruments 7,218 24,819
Financial income/charges 48,987 69,509
Cash flow from operations before changes in working capital 77,569 92,608
Change in receivables (1,527) (60,402)
Change in inventory 117 (2,300)
Change in payables to suppliers (31,878) 32,403
Net change in the provisions for risks and charges (2,273) (9,269)
Net change in provision for staff severance indemnities (2,737) (2,671)
Changes in other liabilities (2,549) (4,044)
Changes in other assets (1,201) 2,660
Changes in working capital (42,048) (43,623)
CASH FLOWS GENERATED BY OPERATIONS 35,520 48,985