All the accounts (and problems) of Tiscali
Tiscali's red is worse: 22.2 million euros less in 2020. Here are the numbers, maneuvers and plans
Joys and sorrows in the Tiscali house. The telecommunications company sees rising revenues and Ebitda, but also the loss, which reaches 22.2 million euros.
All the details.
THE NUMBERS OF TISCALI
Despite the impacts of Covid-19 , Tiscali, controlled by Amsicora Srl (17.5), founded by Claudio Costamagna and Alberto Trondoli, and Renato Soru (6.24%), shows growing revenues and Ebitda. In 2020 the group boasts a turnover of 144 million euros, an increase of 1.4 million euros (+ 1%) compared to 2019. The numbers are driven by fixed broadband access, which increased by 2.7%. Mobile revenues increased by 19.2%. The customer portfolio grew by 4.7% compared to 2019, going from approximately 245 thousand at 31 December 2019 to approximately 256 thousand units at 31 December 2020.
Ebitda amounted to 29.1 million euros, up by 3.6 million (+ 14%) compared to the previous year. The improvement owes it, explains the company itself, to the operational cost saving strategy implemented during the year.
A LOSS OF 22.2 MILLION
However, the corporate red is getting worse. Tiscali closed the annus horribilis of the pandemic with a loss of 22.2 million euros, down by 5.7 million compared to the 2019 loss of 16.5 million. "The result shows an improvement of 14.2 million euros net of non-recurring items (equal to 4.6 million in 2020 and 24.5 million in 2019)", explains the company .
Ebit, net of provisions, write-downs and restructuring costs, was negative for 14.3 million euros, an improvement compared to the 2019 figure of -18.6 million.
OBJECTIVE: PROFIT TO 2023
The company aims to achieve profit in 2023, thanks to a full three-year period that focuses on the sale of Ultrabroanband services, the company's core business. Tiscali, in particular, aims to focus on fiber services (ultra-internet Fiber) with speeds up to 1 Giga and Mobile 4G, with speeds up to 100 Mbps and the relaunch of B2B services.
The company also undertakes to continue the policy of containing operating costs and improving the margins of services.
THE ISSUE OF A BOND
The board of directors also approved the issue of a convertible bond and converting into ordinary Tiscali shares, to be exercised in several tranches, for a total maximum amount of 21 million euros, with the option of the extension company for a further 21 million. million Euros, reserved for Nice & Green SA
The Tlc company intends to find resources for any liquidity needs of the Company, necessary to implement its business plan, within the time horizon envisaged by the loan.
The convertible loan is to be issued in a maximum of 7 tranches for an amount equal to € 3 million, consisting of convertible bonds with a nominal amount of € 100,000 each.
This is a machine translation from Italian language of a post published on Start Magazine at the URL https://www.startmag.it/primo-piano/tutti-i-conti-e-i-problemi-di-tiscali/ on Mon, 17 May 2021 11:55:47 +0000.