Tiscali 2013 Annual Report Download - page 17

Annual financial report as at 31 December 2013
Date
File Name
Status
Page
-
Annual Report as at 31
December 2013
17
Income taxes
(0.8)
(2.5)
1.7
Net result from operating activities (on-
going)
(4.8)
(15.8)
11.0
Result from assets disposed of and/or
destined for disposal
0.0
(0.0)
0.0
Net result
(4.8)
(15.8)
11.1
Minority interests
0.0
0.0
0.0
Group Net Result
(4.8)
(15.8)
11.1
(*) The figures as at 31 December 2012 of the schedules represented in this Annual Financial Report have been
recalculated so as to assimilate the effect of the application, as from 1 January 2013 (retrospectively), the new
revised IAS 19 accounting standard (employee benefits); for further details please see the section “Form and
content of the accounting statements”.
Tiscali Group revenues during 2013 came to EUR 223.4 million, down by 4.5% with respect to the
balance of EUR 233.8 million in 2012. The net change, EUR 10.4 million, is essentially attributable to
the following factors:
 a reduction of EUR 12.8 million (-7.3%) in revenues for the “Access and VOIP” segment
essentially due to the drop in the ARPU relating to the ADSL segment, caused by the
additional promotions on the prices of the services with respect to 2012, in an increasingly
more competitive market scenario;
 analogue Voice revenues increased EUR 1.3 million (rise of 8.5%) mainly due to the increase
in the volume of wholesale services for EUR 1.1 million;
 Media revenues rose EUR 0.4 million (increase of 1.5%) despite the sharp drop in the
advertising market.
During 2013, internet access and voice services – the Group’s core business – represented around
80% of turnover.
Costs for purchases of materials and services totalling EUR 128.5 million, decreased EUR 4.8 million
with respect to last year.
The effects illustrated above led to a drop in the Gross Operating Result (EBITDA) adjusted before
provisions, totalling EUR 67.1 million (EUR 70.6 million in 2012).
The net operating result (EBIT), net of provisions, write-downs and restructuring costs, was a profit of
EUR 9.3 million, registering an improvement with respect to the negative balance of EUR 0.1 million
recorded in 2012.
During 2013, amounts were set aside for restructuring charges for EUR 3.4 million. These are mainly
professional costs provided for in the presence of the reorganisation of the Group and the restructuring
of senior debt (for EUR 1.3 million), as well as charges relating to the settlement of a dispute
pertaining to the Dutch subsidiary (for EUR 1.8 million).
The result from operating activities (on-going), a loss of EUR 4.8 million, improved with respect to the
same figure in the previous year, presenting a negative balance of EUR 15.8 million.
The Group’s net result was a loss of EUR 4.8 million, an improvement with respect to the comparable
figure in the previous year, a loss of EUR 15.8 million.