Tiscali 2013 Annual Report Download - page 87

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Annual financial report as at 31 December 2013
Date
File Name
Status
Page
-
Annual Report as at 31
December 2013
87
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)
2013
2012 Restated*
Financial income
Interest on bank deposits
18
41
Other financial income
153
(77)
Total
171
(36)
Financial charges
Interest and other charges due to banks
9,230
7,021
Other financial charges
4,168
6,131
Total
13,398
13,151
Net financial income (charges)
(13,226)
(13,187)
The item Financial charges amounting to around EUR 13.4 million mainly includes the following
elements:
interest expense, relating to the loan from Senior Lenders (“Group Facility Agreement”)
amounting to EUR 8.5 million;
interest expense on current accounts for EUR 0.7 million;
default interest expense totalling EUR 0.4 million;
interest expense on financial leasing and IRU for around EUR 1.3 million;
bank charges for EUR 2.4 million.
Income taxes (note 9)
(EUR 000)
2013
2012 Restated*
Current taxes
839
2,536
Total
839
2,536
The balance includes the cost of the current taxes for the year represented by IRAP (regional business
tax) and IRES (company earnings’ 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 nil as of 31 December
2013.