Tiscali 2012 Annual Report Download - page 16
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Annual financial report as at 31 December 2012
Date File Name Status Page
-
Annual Report as at 31
December 2012 16
traffic and network suppliers, which made it possible to achieve a saving of around EUR 10 million in
2012.
The Gross Operating Result (EBITDA) adjusted before provisions, totalled EUR 70.5 million (EUR
71.7 million in 2011).
The net operating result (EBIT), net of provisions, write-downs and restructuring costs, was a loss of
EUR 0.2 million, registering an improvement with respect to the negative balance of EUR 21.3 million
recorded in 2011.
The improvement in the result (negative balance of EUR 15.9 million compared with EUR 38.1 million
last year), in addition to the factors described above, takes into account the minor provision for the
write-down of receivables which, during 2011, had been significantly affected by the processes for
rationalisation and mass disconnection of customers.
Furthermore, as more fully described in the section “Format and content of the accounting
statements”, the reduction in amortisation/depreciation includes EUR 7.5 million attributable to the
extension from 24 to 36 months of the duration of the amortisation of customer acquisition and
activation costs and EUR 1.5 million attributable to the extension from 5 to 7 years of the useful life of
the transmission equipment.
The adoption of the amortisation/depreciation criteria applied last year would have led to a loss for the
year of EUR 24.9 million rather than a loss of EUR 15.9 million.