Tiscali 2012 Annual Report Download - page 80

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Annual financial report as at 31 December 2012
Date File Name Status Page
-
Annual Report as at 31
December 2012 80
Net financial income (charges) (note 8)
A breakdown of net financial income (charges) for the year, presenting a negative balance of EUR
13.2 million, is provided below.
(EUR 000)
31 December
2012
31 December
2011
Financial income
Interest on bank deposits 41 98
Other financial income (77) 137
Total (36) 235
Financial charges
Interest and other charges due to banks 7,021 8,709
Other financial charges 6,131 6,645
Total 13,151 15,354
Net financial income (charges) (13,187) (15,120)
The item Financial charges amounting to around EUR 13.2 million mainly includes the following
elements:
interest expense, relating to the loan from Senior Lenders (“Group Facility Agreement”)
amounting to EUR 6.1 million;
interest expense on current accounts for EUR 0.9 million;
default interest expense totalling EUR 1.9 million;
interest expense on financial leasing for around EUR 1.3 million;
bank charges for EUR 2.5 million.
Income taxes (note 9)
(EUR 000)
31 December
2012
31 December
2011
Current taxes 2,536 1,821
Total (2,536) (1,821)
The balance includes the cost of the current taxes for the year essentially represented by IRAP
(regional business tax) payable by the Italian companies.
Operating assets disposed of and/or assets held for sale (note 10)
The “Result from operating assets disposed of and/or assets held for sale” was not significant as of 31
December 2012.