Tiscali 2013 Annual Report Download - page 111
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Annual financial report as at 31 December 2013
Date
File Name
Status
Page
-
Annual Report as at 31
December 2013
111
Commitments and other guarantees
A breakdown of guarantees given during 2013 is shown in the table below.
(EUR 000)
31 December 2013
31 December 2012
Guarantees given to third parties (sureties)
234,587
244,066
Commitments
1,600
1,400
Total
236,187
245,466
Sureties given mainly refer to the guarantee given for the loans granted by financial institutions as part
of the restructuring of the Group’s debt carried out during the year.
The same item includes the surety given by Tiscali S.p.A. to guarantee the amount of the loan
associated with the Sale & lease back transaction on the Sa Illetta property, totalling EUR 95.3 million,
carried out by the subsidiary Tiscali Italia S.p.A. and the amount of EUR 36.2 million for other
guarantees. Other guarantees mainly include:
- EUR 23.5 million for guarantees given by the parent company for credit facilities and leasing to
the subsidiary Tiscali Italia S.p.A..
- EUR 12.4 million for guarantees given by Tiscali Italia S.p.A., of which EUR 10 million in
favour of Telecom Italia Spa to guarantee contractual commitments, EUR 1.1 million in favour
of the Janna consortium to guarantee commitments undertaken when subscribing the share
capital increase and EUR 0.5 million in favour of the Italian Internal Revenue Agency.
The item commitments includes EUR 1.6 million for the maintenance of credit facilities granted to the
subsidiary Tiscali Italia S.p.A..
One-off transactions
Pursuant to Consob Resolution No. 15519 dated 27 July 2006, it is hereby revealed in particular that
during 2013 agreements were reached with the main suppliers of network services which had a
positive impact for around EUR 8.5 million and costs were also provided for, for a total of EUR 3
million, linked essentially to the process for restructuring the senior debt and the definition of the prior
WOL dispute.
Atypical and/or unusual operations
Pursuant to Consob Communication dated 28 July 2006, it is hereby specified that during 2013 the
Company did not enter into any atypical and/or unusual transactions, as defined by said
Communication.
Transactions with related parties
Dealings with non-consolidated Group companies
The Group has no significant dealings with non-consolidated companies.