The Tiscali group closed the 2012 financial year with a loss of 15,9 million euros, more contained than the 38,1 million red losses recorded at the end of 2011. Consolidated revenues amounted to 233,8 million euros, down by 12,6% compared to the previous year. The financial statements as at 31 December 2012 were approved this morning in Cagliari by the shareholders' meeting of Tiscali spa, which confirmed the appointment of Assunta Brizio to the board of directors until the approval of the 2014 financial statements. The operating result (EBIT ) is negative by 0,2 million, a clear improvement on the previous loss of 21,3 million.
The profitability of the group - according to what was communicated at the end of the shareholders' meeting - with a gross operating result before provisions equal to 70.5 million euros, is substantially in line (-1,7%) with the figure recorded at the end of 2011. At the end of 2012, Tiscali's active ADSL users in Italy numbered 479 thousand, of which 322 thousand were direct customers, down on the previous year, also due to the stagnation of the fixed line market.
More than 138 Sims have been activated. Investments for maintaining the network and IT infrastructure and for activating new customers amounted to 26 million euro. The group's liquid assets as at 31 December 2012 amounted to 4,4 million euros, against a negative net financial position of 186,5 million euros, slightly down on the figure of 193,5 million compared to December 31, 2011.
