Tiscali 2014 Annual Report Download - page 120
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Annual financial report as at 31 December 2014
Date
File Name
Status
Page
-
Annual Report as at 31
December 2014
120
31 December 2013
Italy
Veesible
Corporate
Other
Cancellation
adjustments
Total
(EUR 000)
Assets
Segment assets
204,141
15,397
905
191
220,634
Equity investments carried at equity
-
-
-
-
Equity investments in other companies
2,099
-
-
-
2,099
Goodwill
-
-
-
-
Total consolidated assets
206,239
15,397
905
191
222,733
Liabilities
Segment liabilities
243,358
14,835
329,999
344
(213,908)
374,628
Total consolidated liabilities
243,358
14,835
329,999
344
(213,908)
374,628
Commitments and other guarantees
A breakdown of guarantees given during 2014 is shown in the table below.
(EUR 000)
31 December 2014
31 December 2013
Guarantees given to third parties (sureties)
209,315
234,587
Commitments
1,600
1,600
Total
210,915
236,187
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 59 million,
carried out by the subsidiary Tiscali Italia S.p.A. and the amount of EUR 33.2 million for other
guarantees. Other guarantees mainly include:
- EUR 20.9 million for guarantees given by the parent company for credit facilities and leasing to
the subsidiary Tiscali Italia S.p.A..
- EUR 12.3 million for guarantees given by Tiscali Italia S.p.A., of which EUR 10.5 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 Inland Revenue.
The item commitments includes EUR 1.6 million for the maintenance of credit facilities granted to the
subsidiary Tiscali Italia S.p.A..