Tiscali 2014 Annual Report Download - page 19

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Annual financial report as at 31 December 2014
Date
File Name
Status
Page
-
Annual Report as at 31
December 2014
19
Media revenues declined by EUR 0.7 million (decrease of 2.8%) due to a sharp drop in the
market which also affected the on-line segment.
During 2014, internet access and voice services – the Group’s core business – represented around
79% of turnover.
Costs for purchases of materials and services totalling EUR 132.5 million, increased EUR 4 million
with respect to last year.
The increase with respect to the previous year is attributable to additional costs relating to co-location
and maintenance, additional costs relating to the MVNO services (linked to the rise in the
corresponding revenues) and greater costs for promotional campaigns.
The effects illustrated above led to a drop in the Gross Operating Result (EBITDA) adjusted before
provisions and write-downs on receivables, totalling EUR 49.1 million (EUR 67.1 million in 2013).
The net operating result (EBIT), net of provisions, write-downs and restructuring costs, was a loss of
EUR 0.3 million, registering a decrease with respect to the positive result of EUR 9.3 million in 2013.
Charges for tax assessments, amounting to EUR 2.4 million, were recorded under provisions, write-
downs and restructuring costs for 2014.
The result from operating activities (on-going), a loss of EUR 16.4 million, deteriorated with respect to
the same figure in the previous year, presenting a negative balance of EUR 4.8 million.
The Group’s net result was a loss of EUR 16.4 million, a deterioration with respect to the comparable
figure in the previous year, a loss of EUR 4.8 million.