Tiscali 2012 Annual Report Download - page 111
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6
6 Tiscali S.p.A. – 2012 financial statements
6.1 Analysis of the income statement, balance sheet and cash flow statement of Tiscali S.p.A.
Introduction
The statements presented below have been drawn up on the basis of the statutory financial statements
at 31 December 2012, to which reference should be made. In this connection, note that the 2012
statutory financial statements represent the separate financial statements of the Parent Company
Tiscali S.p.A. and have been prepared in observance of the International Accounting Standards
(“IFRS”) issued by the International Accounting Standards Board (“IASB”) as approved by the European
Union, as well as the instructions issued by way of implementation of Article 9 of Italian Legislative
Decree No. 38/2005. The IFRS are understood to be all the reviewed international accounting
standards (“IAS”) and all the interpretations by the International Financial Reporting Interpretations
Committee (“IFRIC”) previously called the Standing Interpretations Committee (“SIC”).
Economic position
(EUR 000) 31/12/2012 31/12/2011
--
Revenues from services and other income 4,491 11,694
Payroll and related, service and other operating costs (2,345) (4,226)
Other write-downs (2,524) (37,386)
Net financial income (charges) (844) (79)
Income taxes (1,243) (117)
Result from assets disposed of and/or destined for disposal (652) 180
Net result (3,115) (29,934)
Revenues from services and other income mainly refer to the fees deriving from ‘Corporate’ services for
the subsidiary company Tiscali Italia S.p.A. including the payments for licences to use the Tiscali
trademark.
The most significant cost component was represented by payroll and related costs, which amounted to
EUR 1,8 million, down slightly with respect to the previous year (EUR 2 million), as well as costs for
external management consulting services and professional expenses amounting to EUR 0.8 million.
Other write-downs include the write-down of credit positions deemed unrecoverable vis-à-vis Group
companies for a total of EUR 2.2 million.
The result from assets disposed of and/or destined for disposal refers to the write-off of the positions
vis-à-vis an indirect subsidiary wound up in November 2012.