Tiscali 2014 Annual Report Download - page 27
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Annual financial report as at 31 December 2014
Date
File Name
Status
Page
-
Annual Report as at 31
December 2014
27
3.6 Analysis of the income statement, statement of financial position and cash flow
statement of Tiscali S.p.A.
Introduction
The statements presented below have been drawn up on the basis of the statutory financial
statements at 31 December 2014, to which reference should be made. In this connection, note that
the 2014 statutory financial statements represent the separate financial statements of the Parent
Company Tiscali S.p.A. and have been prepared in observance of the International Accounting
Standards (“IFRS”) issued by the International Accounting Standards Board (“IASB”) as approved by
the European Union, as well as the instructions issued by way of implementation of Article 9 of Italian
Legislative Decree No. 38/2005. The IFRS are understood to be all the reviewed international
accounting standards (“IAS”) and all the interpretations by the International Financial Reporting
Interpretations Committee (“IFRIC”) previously called the Standing Interpretations Committee (“SIC”).
The Parent Company’s economic position
(EUR 000)
2014
2013
Revenues from services and other income
4,399
4,412
Payroll and related, service and other operating costs and revenues
(629)
(2,158)
Other write-downs and provisions
(1,580)
(1,285)
Net financial income (charges)
(1,590)
(1,666)
Income taxes
(49)
(81)
Result from assets disposed of and/or destined for disposal
-
-
Net result
550
(778)
Revenues from services and other income mainly refer to the fees deriving from ‘Corporate’ services
for the subsidiary company Tiscali Italia S.p.A. including the payments for licences to use the Tiscali
trademark.
The most significant cost component was represented by payroll and related costs, which amounted to
EUR 1.7 million, as well as costs for external management consulting services and professional
expenses amounting to EUR 0.8 million.
Other write-downs included restructuring charges relating to the restructuring process for the senior
debt and to the closure and winding up of the German companies as well as the write-down of
amounts due from the UK subsidiary.