Tiscali 2013 Annual Report Download - page 60

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Annual financial report as at 31 December 2013
Date
File Name
Status
Page
-
Annual Report as at 31
December 2013
60
Other non-current liabilities
25
3,346
4,732
Liabilities for pension obligations and staff
severance indemnities
26
5,146
5,312
Provisions for risks and charges
27
1,863
2,458
64,097
193,831
Current liabilities
Payables to banks and other lenders
28
143,730
15,869
Payables for financial leases
28
4,208
95
Payables to suppliers
29
94,001
150
128,633
422
Other current liabilities
30
68,592
62,746
310,531
150
207,343
422
Liabilities directly related to assets held for
sale
(0)
(0)
Total Liabilities and Shareholders’ equity
222,733
150
253,954
422
(*) The figures as at 31 December 2012 have been recalculated so as to assimilate the effect of the application,
as from 1 January 2013 (retrospectively), of the new revised IAS 19 accounting standard (employee benefits); for
further details please see the section “Form and content of the accounting statements”.
5.8 Explanatory Notes
Tiscali S.p.A. is a limited company incorporated under the laws of the Republic of Italy at the Cagliari
Companies’ Register.
The Tiscali Group provides a wide range of services to its customers, both private individuals and
companies, from dial-up and ADSL Internet access, along with high technology content
telecommunications services and solutions.
This offer, which also includes voice services (such as mobile telephony) and portal services, enables
Tiscali to compete effectively with the major operators on the market.
Thanks to its unbundling network (ULL), its range of innovative services and its strong brand, Tiscali
has achieved an important position in the market of Italian telecommunications.
These consolidated financial statements (the financial statements) are drawn up using the Euro as the
reporting currency since this is the currency used to conduct most of the Group’s operations; all the
balances are rounded off to thousands of EUR unless otherwise indicated. Foreign activities have
been included in the consolidated financial statements according to the principles detailed below.
In preparing these financial statements, the directors have adopted the going-concern assumption and
therefore have drafted the financial statements using the standards and policies that are applied to
companies in operation.
The Board of Directors, on 13 June 2014, authorised the publication of these financial statements.
5.9 Evaluation of the company as a going-concern and future outlook
Events and uncertainties regarding the business continuity
The Tiscali Group closed the financial statements at 31 December 2013 with a consolidated loss of
EUR 4.8 million and negative consolidated shareholders’ equity of EUR 151.9 million. Furthermore, as