Annual / Quarterly Financial Statement • Sep 29, 2015
Annual / Quarterly Financial Statement
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at 30. June 2015
Wilhelm-Leuschner-Str. 23
60329 Frankfurt am Main
| Frankfurt am Main | Telecom Italia Deutschland Holding GmbH | |||||
|---|---|---|---|---|---|---|
| ASSETS | 30. June 2015 $\overleftrightarrow{\mathbf{a}}$ |
LIABILITIES AND EQUITY | ||||
| EUR | Financial year EUR |
31.12.2014 EUR |
Financial year EUR |
31.12.2014 EUR |
||
| A. Current assets | A. Equity | |||||
| I. Debtors and other assets | I. Subscribed capital | 25.000,00 | 25.000,00 | |||
| 1. Amounts due from related companies |
20.598.746,47 | II. Capital reserve | 528.188 833,39 | 528 188.833,39 | ||
| II. Cheques, cash on hand, federal 2. Other assets |
65.05 | 20.598.811,52 | 20.640.368,42 177.337,29 |
III. Accumulated Deficit brought forward |
506.555.322,02 | 507.747.999,49- |
| bank and postal giro accounts, cash at banks |
991.639,40 | 923.025,23 | IV. Loss for the year | 138.802,19 | 1.192.677,47 | |
| Book value of equity | 21.519.709,18 | 21.658.511,37 | ||||
| B. Accruals | ||||||
| 1. Other accruals | 45.388,19 | 50.830,00 | ||||
| C. Creditors | ||||||
| term of up to one year EUR 25.353,55 (EUR 31.389,57) - thereof with a remaining 1. Trade creditors |
25353,55 | 31 389 57 | ||||
| 21 590,450,92 | 21.740.730,94 | 21.590.450,92 | 21.740.730,94 | |||
| Commercial law |
BALANCE SHEET
| EUR | Financial year EUR |
31.12.2014 EUR |
|---|---|---|
| 15,00 | 1.505.318,59 | |
| 0.00 | 15,00 | 9.520,00 |
| 290,00 105.230,72 |
440,00 332.424,60 |
|
| 51.673,52 | 157.194,24 | 0,00 |
| 18.377,05 | 11.624,48 | |
| 0,00 | 921,00 | |
| 138.802.19- | 1.192.677,47 | |
| 138.802,19 | 1.192.677,47- | |
$\mathcal{A}^{\mathcal{A}}$
Dn.
| Account Description | EUR. | Financial year EUR |
31.12.2014 EUR |
|---|---|---|---|
| Amounts due from related companies |
|||
| 1261 Forderungen gegenüber Telecom Italia SPA | 4.118.296.82 | 4.118.296,82 | |
| 1262 Forderungen gegenüber TI Finance S.A. LU | 16.480.449.65 | 20,598,746.47 | 16.522.071.60 |
| Other assets | |||
| 1450 Körperschaftsteuerrückforderung | 65.05 | 177, 337, 29 | |
| Cheques, cash on hand, federal bank and postal giro accounts, cash at banks |
|||
| 1800 Deutsche Bank #6591457 00 | 991.639.40 | 73.827.16 | |
| 1810 BNP Paribas #92 23529 018 | 0,00 | 991 639.40 | 849.198.07 |
| Total | 21.590.450.92 | 21 740 730 94 | |
| Account Description | EUR | Financial year EUR |
31.12.2014 EUR |
|---|---|---|---|
| Subscribed capital 2900 Gezeichnetes Kapital |
25.000,00 | 25.000,00 | |
| Capital reserve 2920 Kapitalrücklage |
528,188,833.39 | 528.188.833.39 | |
| Accumulated Deficit brought forward |
|||
| 2978 Verlustvortrag vor Verwendung | 506.555.322,02- 507.747.999,49- | ||
| Loss for the year Loss for the year |
138.802.19- | 1.192.677,47 | |
| Other accruals 3070 Sonstige Rückstellungen |
6.888.19 | ||
| 3092 Rückstellungen f. drohende Verluste | 30.000.00 | 8.750,00 30.000.00 |
|
| 3095 Rückstellungen für Abschluss u. Prüfung | 8.500,00 | 45, 388, 19 | 12.080,00 |
| Trade creditors | |||
| 3300 Verbindl, aus Lieferungen u. Leistungen | 25.353,55 | 31.389,57 | |
| thereof with a remaining term of up to one year EUR 25.353,55 (EUR 31.389,57) 3300 Verbindl. aus Lieferungen u. Leistungen |
|||
| Total | 21.590.450,92 | 21.740.730,94 |
| Account Description | EUR | Financial year EUR |
31.12.2014 EUR |
|---|---|---|---|
| Income from reversal of | |||
| accruals | |||
| 4930 Erträge Auflösung von Rückstellungen | 15,00 | 1 505.318,59 | |
| Other extraordinary income | |||
| in connection with | |||
| ordinary business | |||
| activities 4830 Sonstige betriebliche Erträge |
|||
| 0,00 | 9.520,00 | ||
| Insurance premiums, | |||
| contributions and dues | |||
| 6420 Beiträge 6430 Sonstige Abgaben |
180,00- $110,00 -$ |
290,00- | 180.00 260,00- |
| Various operating | |||
| costs | |||
| 6300 Sonstige betriebliche Aufwendungen 6825 Rechts- und Beratungskosten |
0.00 87.906,36- |
112.589,13 188.299,47- |
|
| 6827 Abschluss- und Prüfungskosten | 15.899,71- | 29.884,55- | |
| 6855 Nebenkosten des Geldverkehrs | 1.424.65- | 105.230,72- | 1.651,45- |
| Other extraordinary opera- | |||
| ting expense in connection | |||
| with ordinary business | |||
| activities | |||
| 6960 Periodenfremde Aufwendungen | 51.673,52- | 0,00 | |
| Other interest and similar | |||
| income | |||
| 7100 Sonstige Zinsen und ähnliche Ertrage | 0,00 | 233,48 | |
| 7105 Zinserträge § 233a AO, steuerpflichtig 7109 Sonst. Zinsen u.ä. Erträge aus verb.UN |
15.999,00 | 0,00 | |
| 2 378 05 | 18.377,05 | 11.391,00 | |
| thereof from related | |||
| companies EUR 2.378,05 | |||
| (EUR 11.391,00) | |||
| 7109 Sonst. Zinsen u.ä. Erträge aus verb.UN | |||
| Interest and similar items | |||
| 7300 Weitergabe Zinsen Escrow Account | 0,00 | 921,00- | |
| Loss for the year | |||
| Loss for the year | 138.802,19- | 1.192.677,47 | |
$\n $\n \infty$$
LIST OF CREDITORS Creditors with credit balances
| Account Description | EUR | Financial year EUR |
31.12.2014 EUR |
|---|---|---|---|
| 71001 KPMG AG Wirtschaftsprüfungsgesellschaft 71501 PricewaterhouseCoopers AG WPG |
25.353,55 0.00 |
25.353.55 | 19.489.57 11.900.00 |
| 25 353 55 | 31.389,57 |
The financial statements have been prepared in accordance with the legal requirements of the German Commercial Code ("GCC") as well as of the German law for limited liability companies (LLCC). Regulations for minimal limited liability companies have been considered.
The balance sheet as well as the profit and loss statement were prepared in accordance with the classification regulations of §§ 266 and 275 GCC, whereby the profit and loss statement was prepared in accordance with the nature of the total cost accounting method ("Gesamtkostenverfahren"). The size-depending relief for minimal limited liability companies according to §§ 274a and 288 GCC in conjunction with § 267a Para 2 GCC have been considered partially.
By preparing the financial statements, the following accounting and valuation policies have been considered.
Account receivables and other assets are valued at nominal amount. All risk carrying positions are provided for the constitution of specific valuation allowances.
The cash in banks are generally capitalized at the nominal amount.
The accruals consider all uncertain liabilities and contingent losses from pending contracts. The accruals are set-up with the amounts, which are necessary according to a reasonable business judgement.
Accruals and liabilities are set-up at the settlement amount.
Equity is entered in the balance sheet at nominal amount.
Receivables against affiliated companies amounting to k€ 20.599 basically include receivables against TI Finance S.A., LU in the amount of k€ 16.480 (previous year: k€ 16.522) and result from a short run cash deposit at TI Finance S.A., LU, which operates as internal financial institute within the TI group. The receivables against Telecom Italia SpA amounting to k€ 4.118 (previous year: k€ 4.118) basically result from late share purchase price adjustments in connection with the sale of HanseNet Telekommunikation GmbH.
Other receivables (previous year $k \in 177$ ) basically included withheld taxes on interest in-Xme in respect of the account with BNP Paribas S.A., but have been completely refunded bythe German tax authorities.
Due to the fact that all relating issues have been closed, the escrow account resulting from the sale of the participation in the shares of HanseNet Telekommunikation GmbH in 2010 is currently supposed to be closed. Consequently, all related amounts have been cashed out of the escrow account (previous vear $k \in 849$ ).
The capital reserves amount to k€ 528.189 (previous year: k€ 528.189).
The accruals basically include accruals for other risks deriving from the sale of HanseNet Telekommunikation GmbH in the amount of k€ 30 (previous year: k€ 30). As the pending law suits in this regard have basically been settled, the residual amounts have been dissolved (except an amount of k€ 30). The further other accruals amounting to k€ 15 (previous year: k€ 21) include administrative costs, costs related to the preparation of the financial statements and the income tax returns 2015 as well as further costs for tax advice.
Liabilities in the amount of $k \in 25$ (previous year $k \in 31$ ) basically include costs for external audit and consultant companies and have a residual term of less than a year.
Luca Pulcinelli, CEO, Rome/Italy
Dr. Rodolfo Dolce, Frankfurt am Main/Germany
The financial statements of Telecom Italia Deutschland Holding GmbH, Frankfurt are considered in the consolidated financial statements of Telecom Italia S.p.A., Milan/Italy.
Frankfurt, August 5, 2015
Luca Pulcinelli
Dr. Rodolfo Dolce
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