Tiscali 2009 Annual Report Download - page 8

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In this report on operations, in addition to the
conventional indicators envisaged by the IFRS, a
number of alternative performance indicators are
present (EBITDA and Adjusted EBITDA) used by
Tiscali Group management for monitoring and
assessing the operational performance of the
same and given they have not been identified as
an accounting measure within the sphere of the
IFRS, must not be considered as alternative me-
asures for the assessment of the performance of
the Tiscali Group’s result. Since the composition
of the EBITDA and Adjusted EBITDA is not regu-
lated by the reference accounting standards, the
calculation criteria applied by the Tiscali Group
might not be the same as that adopted by others
and therefore may not be comparable.
The Gross Operating Result (EBITDA) and the
operating result before the write-down of re-
ceivables and costs for the stock option plans
(Adjusted EBITDA) are economic performance
indicators not defined by reference accounting
standards and are formed as indicated below:
Pre-tax result and result deriving from assets
destined to be disposed of
+ Financial charges
- Financial income
+/- Income/Charges from equity investments in
associated companies
Operating result
+ Restructuring costs
+ Amortisation/depreciation
+/- Atypical charges/income
Gross Operating Result (EBITDA)
+ Write-downs of receivables from customers
+ Stock option plan costs
Gross Operating Result (Adjusted EBITDA)
2.
Alternative
performance indicators
Alternative performance indicators