14. EBITDA (unaudited)

EBITDA (earnings before interest, taxes, depreciation, amortization, impairment and disposal) presents the Group’s key measure of earnings performance. The level of EBITDA measures the Group’s ability to generate cash from recurring operations. The Group defines EBITDA as operating profit adjusted by depreciation, amortization, impairment and disposal. EBITDA is not an IFRS EU measure, and as such can be calculated differently by other entities.

for the year ended
31 December 2013 31 December 2012
Net profit for the period 525,445 598,298
Income tax 67,376 97,349
Gain/loss on investment activities, net (16,058) (14,353)
Finance costs 216,014 110,782
Share of the profit of jointly controlled entity accounted for using the equity method (2,924) (2,897)
Depreciation, amortization, impairment and disposal* 256,416 243,066
EBITDA (unaudited) 1,046,269 1,032,245

* Depreciation, amortisation, impairment and disposal comprise depreciation and impairment of property, plant and equipment, amortisation and impairment of intangible assets and net book value of disposed property, plant, equipment and intangible assets (excluding amortization of programming assets)