Tiscali 2012 Annual Report Download - page 87
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Annual financial report as at 31 December 2012
Date File Name Status Page
-
Annual Report as at 31
December 2012 87
The Group does not record prepaid taxes, while the theoretical tax benefit calculated on the basis of
an estimated average rate of 28.4% would amount to EUR 228.4 million. Despite the Group’s business
plan having indicated profits for the next five years, Tiscali S.p.A.’s Directors have not provided for
prepaid taxes in the financial statements as at 31 December 2012.
Inventories (note 19)
At 31 December 2012, inventories totalled EUR 0.3 million and mainly relate to internet keys intended
to be sold.
Receivables from customers (note 20)
(EUR 000) 31 December 2012
31 December
2011
Receivables from customers 80,646 124,550
Write-down provision (20,207) (35,977)
Total 60,439 88,574
At 31 December 2012, receivables from customers totalled EUR 60.4 million, after write-downs of
EUR 20.2 million. These receivables accrued from the sale of internet services, billing of network
access services, inverse interconnection traffic, advertising revenues and business customer and
telephone services provided by the Group.
The analysis of receivables is carried out periodically, adopting a specific policy for calculating the
receivable write-down provision, with reference to experience and historical trends.
As the Group’s credit exposure is spread over a very large customer base, there is no particular credit
concentration risk.
The following table illustrates the ageing (gross of the receivables write-down provision) at 31
December 2012 and 31 December 2011, respectively:
31 December 2012 31 December 2011
(EUR 000)
not due 30,030 31,722
1 – 180 days 20,045 21,736
181 – 360 days 8,859 15,843
over 360 days 21,712 55,249
Total receivables from customers 80,646 124,550
Receivable write-down provision (20,207) (35,977)
Total Receivables from customers net of provision 60,439 88,574