Tiscali 2013 Annual Report Download - page 118
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Annual financial report as at 31 December 2013
Date
File Name
Status
Page
-
Annual Report as at 31
December 2013
118
6 Tiscali S.p.A. – 2013 financial statements
6.1 Analysis of the income statement, balance sheet 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 2013, to which reference should be made. In this connection, note that
the 2013 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”).
Economic position
(EUR 000)
31/12/2013
31/12/2012
Revenues from services and other income
4,412
4,491
Payroll and related, service and other operating costs
(2,158)
(2,345)
Other write-downs and provisions
(1,285)
(2,524)
Net financial income (charges)
(1,666)
(844)
Income taxes
(81)
(1,243)
Result from assets disposed of and/or destined for disposal
-
(652)
Net result
(778)
(3,115)
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, down slightly with respect to the previous year (EUR 1.8 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.