The Board of Directors of Tiscali S.p.A. approves the business plan 2008-2012.
Tiscali has achieved the results of the industrial plan presented in October 2006 and has completed the transition from an Internet Service Provider to a provider of integrated telecommunication services, delivering the announced financial targets
This strategic plan updates the previous one and aims at strengthening the strategic positioning of the Group, at maximizing value creation in the short/medium term by investing in infrastructure and new services which will allow to compete in more complex competitive arenas
The plan is supported by a sound financial structure achieved through the financing activities in 2007
The key data of the industrial plan 2008-2012 are as follows: o Growth of direct customers: from 1 million in 2007 to 3 million in 2012, with a 26% yearly growth 2012, with a 26% yearly growth o Growth of revenues: over EUR 2 billion in 2012 (EUR 1.3 billion in 2008), of which 70% from direct access (+17% per annum) 2008), of which 70% from direct access (+17% per annum) o Increase of gross operating margin growing from 17% of revenues in 2007 (22% in 2008) to 30% in 2012 in 2007 (22% in 2008) to 30% in 2012 o Net profit and cash generation expected from 2008, with over EUR 850 million cash flow generated in the business plan horizon
Net debt below two times gross operating result in 2008*
*Assuming the execution of a capital increase amounting to EUR 150 million
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