Tiscali 2013 Annual Report Download - page 91

Annual financial report as at 31 December 2013
Date
File Name
Status
Page
-
Annual Report as at 31
December 2013
91
The tangible fixed assets mainly concern the operating subsidiary Tiscali Italia S.p.A. and are
analysed as follows.
The item “Properties”, amounting to EUR 48.7 million, mainly relates to the Cagliari headquarters (Sa
Illetta), which was subject to a Sale & Lease back financial transaction in 2007.
Plant and machinery (EUR 33.9 million) includes specific network equipment such as routers, DSLAM,
servers, and transmission devices installed at the LLU sites. The EUR 2.7 million total increase
reflects the investments concerning the development of the network infrastructure. EUR 1.5 million has
been reclassified from the category “Other tangible assets in course of construction and prepayments”
relating to costs for transmission equipment and DSLAM installed as part of the project for developing
the network which started to be depreciated during 2013.
“Other tangible assets”, whose balance amounts to EUR 1.5 million, include furniture and furnishings,
electronic and electromechanical office equipment as well as motor vehicles.
The item Tangible assets in course of construction and prepayments whose balance comes to EUR
0.8 million, includes modems in inventory destined to be loaned out free-of-charge to customers.
Reclassifications, amounting to EUR 1.5 million, concern the allocation to the category “Plant and
Machinery” of tangible assets entering service during 2013.
Other non-current financial assets (note 15)
(EUR 000)
31 December 2013
31 December
2012
Guarantee deposits
6,944
6,412
Other receivables
1,670
1,453
Equity investments in other companies
2,099
2,215
Total
10,713
10,080
Guarantee deposits mainly relate to the Sale and lease back contract on the property in Cagliari (Sa
Illetta).
The item Equity investments in other companies mainly comprises the equity investment held by
Tiscali Italia S.p.A. in Janna S.c.p.a., a consortium company which is involved in the management of
an underwater fibre optics cable between Sardinia and the mainland and between Sardinia and Sicily.
Deferred tax assets (note 16)
At 31 December 2013, there were no prepaid tax assets recorded in the financial statements.
As at the balance sheet date, the Group had tax losses, which could be carried forward to subsequent
years for a total of EUR 741 million and timing differences for EUR 76.8 million. The taxes losses refer
to:
- the Parent company and the Italian subsidiaries for a total of EUR 243.5 million;
- Tiscali International B.V. and the Dutch subsidiaries for a total of EUR 34.8 million;
- the German subsidiaries for a total of EUR 270.4 million;
- Tiscali UK Holdings for a total of EUR 192.3 million;