Tiscali's board of directors has approved the 4Q04 results

Cagliari, 14th February 2005 - The results show that targets set for sales, profitability, ADSL user numbers and cash flow generation in the financial year just ended have all been met. The fourth quarter also saw an improvement of the EBITDA margin and the continuation of the non-core asset disposals programme begun in the third quarter, in line with the strategic plan and the Group’s refocusing on those markets offering greater potential for growth.

The sale of the Belgian and Danish subsidiaries, for EUR 19 million and EUR 20.7 million respectively, together with funds raised with capital increase took the proceeds of disposals over EUR 170 million.

The next steps currently being finalised will allow completion of the financial plan in order to reimburse the debt and to support further growth.

To read more, please just download the press release