Tiscali 2008 Annual Report Download - page 19
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18
TISCALI GROUP
3. Alternative performance indicators
In this report on operations, in addition to the conventional indicators envisaged by the IFRS, a number of alternative performance
indicators are present (EBITDA and Adjusted EBITDA) used by Tiscali Group management for monitoring and assessing the operational
performance of the same and which not having been identified as an accounting measure within the sphere of the IFRS, must not
be considered as alternative measures for the assessment of the performance of the Tiscali Group’s result. Since the composition of
the EBITDA and Adjusted EBITDA is not regulated by the reference accounting standards, the calculation criteria applied by the
Tiscali Group might not be the same as that adopted by others and therefore may not be comparable.
The Gross Operating Result (EBITDA) and the operating result before the writedown of receivables and costs for the stock option
plans (Adjusted EBITDA) are economic performance indicators not defined by the reference accounting standards and are formed
as indicated below:
Pre-tax result and result deriving from assets destined to be disposed of
+ Financial charges
- Financial income
+/- Income/Charges from equity investments in associated companies
Operating result
+ Restructuring costs
+ Amortisation/depreciation
+/- Atypical charges/income
Gross Operating Result (EBITDA)
+ Writedowns of receivables from customers
+ Stock option plan costs
Gross Operating Result (Adjusted EBITDA)