roadshow06 001

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Slide1: 

International Roadshow

SPEAKERS: 

SPEAKERS RENATO SORU President and CEO LUIGI FILIPPINI Chief Technical Officer MASSIMO CRISTOFORI Chief Financial Officer

Slide3: 

Speaker: Renato Soru

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EMPOWERING PEOPLE TO INTERNET... ...at anytime through any device

TISCALI.EU: 

TISCALI.EU Following the rules of Internet: ISP and TLC operator acquisitions in order to export Tiscali’s business model Pan-European backbone network Building European brand awareness Network Economy First copy Economy …to develop a European Internet Company

ACQUISITIONS AND JVs: 

To acquire people and know how Ideare, Quinary, Best Engineering, STS ACQUISITIONS AND JVs To introduce proprietary e-commerce IMIWEB, FreeTravel, Energy Bank A Telecom, Nets, Nikoma, Interweb, Link Line, DataComm, CD Telekomunikace

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PAN-EUROPEAN PRESENCE All being re-branded as Tiscali by June

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IMPROVING THE ACCESS BUSINESS MODEL What is the business? Powerful Interactive Media To sell people’s time on proprietary contents and the entire Web Internet is experiencing a disruptive turning point

E-COMMERCE: 

E-COMMERCE Tiscali’s approach to e-Commerce Transforming time of the people into transaction fees Focus on digital products… …alone or JV with leading players Enabling SOHOs and SMEs

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FLATZERO TISCALI MICROPORTAL: “Content is the Web” Sending targeted advertising throughout the entire connection time Credits are equivalent to the local phone call costs: 33 Lit/min peak time 19 Lit/min peak-off time Credits can be used for: Tiscali voice services online purchases at Tiscali special sites The first in Europe to eliminate connection costs to the customers Acquiring people’s time to create value through e-advertising and e-commerce

Slide11: 

Speaker: Luigi Filippini

STRATEGY: 

STRATEGY 1. Controlling Unified European Network 2. Expanding services to broadband and mobile access 3. Developing new services & expanding contents 4. Internet for business customers

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1. NETWORK Guarantee quality of service Develop innovative services Shift to broadband

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FROM THE CURRENT INFRASTRUCTURE... 24 IPOPs covering every Area Gateway More than 50.000 access ports installed First independent operator controlling a national 2.5 Gb network The Paris-London route, a fully redundant DWDM network, already operational The Northern Loop, completed and fully operational by June 30th 2000 Nation-wide network coverage

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Setting up a pan-European high capacity network …TO A FULLY UNIFIED PAN-EUROPEAN NETWORK Up to 30,000 Km loop 150 ml Euro Investment on fibre and equipment in 2000-2001 Development of a DWDM network covering France, Switzerland, Czech Rep, Spain, Benelux, Italy

NETs Synergy with TISCALI: 

NETs Synergy with TISCALI  NETs and TISCALI have complementary core businesses NETs focuses on: infrastructure services backbone solutions TISCALI focuses on: telecom services (Telco) Internet services (ISP) application and content provisioning

NETs Synergy with TISCALI: 

NETs Synergy with TISCALI NETs mission within the TISCALI Group is to provide infrastructure services to TISCALI and to all its subsidiaries around Europe NETs provides pan-European backbone for TISCALI’s activities in Europe national backbones for national subsidiaries in France, Belgium, Spain, Switzerland, etc. NETs benefits from TISCALI customer base throughout Europe TISCALI provides financial stability for long-term development TISCALI benefits from Expertise of a backbone specialist all over Europe Control over the technology (broadband services) Control over quality of service

Services: Description : 

Services: Description NETs provides short and long term infrastructure services to telecom organisations. DWDM services: the inkTM service is a full wavelength on our network which can bear STM16 bandwidth, upgradable to STM64. Our first Customer inkTM was delivered in October 1998 SDH services: E1, E3, DS3, STM1, STM4, STM16 through SDH access equipment on our DWDM network. New services: NETs is currently designing new services to be implemented during year 2000 NETs intends to create a pan-European IP Backbone offering seamless IP transit and connectivity in Europe.

Slide19: 

2. BROADBAND ACCESS Direct access to the customers through: DSL Unbundling …to offer new value added services Wireless (LMDS - Broadband Fixed Wireless) Acquisition of dark fibre in metropolitan areas Internet Access Phone Calls Full range of integrated communication services (Internet, Voice, etc.)

Slide20: 

MOBILE ACCESS Italy: Provide services as a VNO, leasing mobile access from local operators Rest of Europe: Andala bidding for UMTS license in Italy First to apply for a Virtual Network Operator (VNO) license

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Contents + Interactivity 3. CONTINUOUS DEVELOPMENT OF NEW CONTENTS AND SERVICES Energy bank Microportal Musix Freegames Motorcity Annunci gratuiti Translations Online selling of Tiscali products Janas NetFax Horoscope Channels Weather NetMail Talk Talk Phone Directory Musicalì News All Tiscali Sites: 3,000,000 page views per day

Slide22: 

JANAS Proprietary search engine 200,000 queries per day Fast indexing every page of a web document Local spidering in every country Covering WWW and leader in mp3 files indexing Available soon in multi- language

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NEW VOICE SERVICES Value Added Services - Personal number 178-xxxxxx - Virtual second phone line - Voice mail (on e-mail Inbox) - Follow-me (Phone Call Redirection) Voice over IP PC to PC PC to Phone Phone to PC

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Tiscali’s arm for business customers ... ISP: High speed & quality access service for business customers in Europe Web Farm: Housing, Hosting, Web design and e-solutions ASP: Applications targeted to Small businesses Data Center: Advanced mirroring service for large multinationals in Europe 4.

Slide25: 

… integrating the offer of the several acquired companies 4. Quinary, WAP and e-commerce system integrator Best Engineering, geographical information systems Ideare, web and mp3 search engine Tiscali STS, wireless network design Omnitel, Wind, Blu, British Telecom, Infostrada, NATO, Public Authorities Omnitel, Jumpy Alpine, Omnitel IOL, Bertelsman Fireball, Interfree, DadaNet RCS, SanPaoloIMI

Slide26: 

Speaker: Massimo Cristofori

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METRICS Tiscali FreeNet Subscribers +56% +80% Tiscali FreeNet Daily Minutes Traffic Tiscali Group: 2.1 m Total Subscribers as of 15 May 2000

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PAGE VIEWS The result of continuously adding new contents: Over 90 m page views in April 2000 Page Views in April 2000 (m) TiscaliNet.it: From the 7th place as of December 99 up to the 3rd place in April 00 (29% reach) (Source: Onetone)

Slide29: 

1999 RESULTS (*) Provisional Figures, include Tiscali, A Telecom, NETS, DataComm and Nikoma Parent Company Pro-forma Figures (*)

Slide30: 

TISCALI S.p.A. QUARTERLY RESULTS ('000 Euro) 3Q99 % 4Q99 % 1Q00 % Revenues 8,816 100% 15,717 100% 22,629 100% of which: Internet 3,965 45% 6,271 40% 11,427 50% Voice 4,799 54% 9,513 61% 11,177 49% EBITDA (2,343) -27% (3,965) -25% (1,539) -7% EBIT (3,181) -36% (5,501) -35% (3,460) -15% Growth Revenues Internet Voice 188% 133% 98% 44% 82% 17% 157% 58% 4Q99 / 3Q99 1Q00/ 4Q99 1Q00 / 3Q99 78% Net Financial Position (7,257) 100,070 39,677

Slide31: 

2000 FORECASTS TISCALI GROUP 1999 Revenues Breakdown 2000 Revenues Breakdown 1999-2000 Revenues Growth Rate: over 340%

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CAPEX 2000-2002 Technical Capex: Euro 390 m

Slide33: 

Speaker: Renato Soru

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OBJECTIVES Among Top 3 European ISPs in 2001 1999-2001 revenues CAGR over 200% 1999-2002 European Internet subscriber CAGR 150% EBITDA positive in 2001, break even in 2000 excluding marketing and advertising expenses EBIT positive in 2002 e-Advertising & e-commerce to overcome Internet Access revenues by 2002

Slide35: 

The Bond

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Issuer: Tiscali Finance S.A., Luxembourg Guarantor: Tiscali S.p.A. Amount: Euro 150 million Lead managers e bookrunners: Banca Commerciale Italiana Banca IMI Maturity: 5 years from Payment Date Spread at reoffer: 340 - 350 b.p. Terms and conditions

Slide37: 

Issue price: Approximately at par Status of the Notes: Senior, unsecured, unsubordinated Listing: Luxembourg Governing Law and Jurisdiction: English Payment date: 2/3 weeks from Launch date Use of proceeds: Funding for European backbone Terms and conditions

Slide38: 

Covenants Legal Covenants Cross default Negative pledge Financial Covenants Change of control Limitation to financial indebtedness as: Debt/Equity multiple Debt/EBITDA multiple

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