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Granolio d.d. Interim / Quarterly Report 2025
2089_10-q_2026-02-27_2384ee09-3357-4e23-9f0c-ee9d5a312d85.pdf
Interim / Quarterly Report
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{0}------------------------------------------------
Consolidated financial results for the twelve months period ended 31 December 2025. (unaudited)
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General information on Granoliod.d.
GRANOLIO d.d. ("The Company") is a joint-stock company registered with the Commercial Court of Zagreb, Croatia.The Company's tax number (OIB) is 59064993527, and its registration number (MBS) 080111595.
The Company's headquarter is located in Zagreb at Budmanijeva 5.
Subsidiaries
The Company holds 100% of the shares in Zdenačkafarma d.o.o.
It has a controlling influence in the decision-making process in Zdenkamliječniproizvodi d.o.o. which has been consolidated into the Granolio Group since 2011.
Ownership in subsidiaries is presented in the organizational chart below:
The Group monitors its business operations through four business segments:
- Milling
- Dairy and cheese production
- Wholesale trade
- Other
Milling is a segment that includes the production and sale of flour. This business segment is represented exclusively in the parent company.
Dairy and cheese production (hereinafter "Dairy") includes the production and sale of cheese realized in the company Zdenka - mliječni proizvodi d.o.o. and the production and sale of milk on a dairy farm in the company Zdenačka farma d.o.o.
Wholesale is a segment that includes trade in cereals, oilseeds and raw materials for sowing represented in the company Granolio d.d.
The Other segment includes cattle fattening, silos and warehousing services, goods reception services and the like. All of the above is represented in the parent company.
{2}------------------------------------------------
Granolio Group's financial indicators for the twelve-month period of 2025.
In thousands of EUR
| 1-12 2025 | 1-12 2024 | change | ||
|---|---|---|---|---|
| Operating income | 116.181 | 101.105 | 15.075 | 15% |
| Operating expenses | 112.544 | 93.900 | 18.644 | (20%) |
| EBIT | 3.637 | 7.205 | (3.569) | (50%) |
| EBIT margin | 3% | 7% | ||
| EBITDA | 7.674 | 10.764 | (3.090) | (29%) |
| EBITDA margin | 7% | 11% | ||
| Net financial result | (2.096) | (992) | (1.104) | (111%) |
| Net result for the period | 1.170 | 5.590 | (4.420) | 79% |
| Attributable to the Group | 761 | 4.181 | (3.421) | 82% |
| Non-controlling interest | 409 | 1.409 | (999) | 71% |
The Group's EBITDA in the twelve-month period of 2025 amounts to EUR 7.7 million.
The net financial result represents the difference between financial income and financial expenses.
Financial indicators
In thousands of EUR
| 31.12.2025 | 31.12.2024 | change | ||
|---|---|---|---|---|
| Net assets (Capital and reserves)* | 28.287 | 28.440 | (154) | (1%) |
| Total debt | 34.194 | 32.367 | 1.827 | 6% |
| Cash and cash equivalents | 1.222 | 505 | 717 | 142% |
| Given loans, deposits and similar** | 3.734 | 3.149 | 585 | 19% |
| Net debt | 29.238 | 28.712 | 525 | 2% |
| Net debt/ EBITDA | 3,81 | 2,67 | 1 | 43% |
| EBITDA for the last 12 months | 7.674 | 10.764 | (3.090) | (29%) |
* Net assets = capital and reserves attributable to the equity holders of the parent and to the minority interests
The Group's total debt has increased due to the new debt of Zdenka mliječni proizvodi d.o.o..
The company regularly settles existing obligations for credits and loans.
** Loans given, securities and deposits
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Separate business results for the twelve-month period of 2025
Granolio d.d. In thousands of EUR
| 1-12 2025 | 1-12 2024 | change | ||
|---|---|---|---|---|
| Operating income | 73.739 | 61.794 | 11.945 | 19% |
| Operating expenses | 71.681 | 58.148 | ||
| EBIT | 2.058 | 3.646 | (1.588) | (44%) |
| margin % | 3% | 6% | ||
| EBITDA | 3.573 | 4.728 | (1.155) | (24%) |
| margin % | 5% | 8% | ||
| Net financial result | (620) | (314) | (307) | (98%) |
| Profit tax | 311 | 513 | - | |
| Net result | 1.127 | 2.820 | (1.693) | (60%) |
| margin % | 1,5% | 4,6% |
In the twelve-month period of 2025, a more favorable operating income was achieved compared to the same period of the previous year.
The net financial result represents the difference between financial income and financial expenses.
Zdenka - mliječni proizvodi d.o.o. In thousands of EUR
| 1-12 2025 1-12 2024 |
change | |||
|---|---|---|---|---|
| Operating income | 40.725 | 37.960 | 2.765 | 7% |
| Operating expenses | 39.704 | 35.098 | ||
| EBIT | 1.020 | 2.862 | (1.842) | 64% |
| margin % | 3% | 8% | ||
| EBITDA | 3.073 | 4.853 | (1.780) | (37%) |
| margin % | 8% | 13% | ||
| Net financial result | (202) | (45) | (157) | (352%) |
| Profit tax | - | - | ||
| Net result | 818 | 2.817 | (1.999) | 71% |
| margin % | 2% | 7% |
In the twelve-month period of 2025, the Company achieved revenues higher by 7% compared to last year.
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Zdenačka farma d.o.o. In thousands of EUR
| 1-12 2025 | 1-12 2024 | change | |||
|---|---|---|---|---|---|
| Operating income | 6.105 | 5.043 | 1.062 | 21% | |
| Operating expenses | 5.546 | 4.345 | |||
| EBIT | 559 | 697 | (139) | (20%) | |
| margin % | 9% | 14% | |||
| EBITDA | 1.027 | 1.183 | (156) | (13%) | |
| margin % | 17% | 23% | |||
| Net financial result | (273) | (134) | (140) | (104%) | |
| 53 | 103 | ||||
| Net result | 232 | 461 | (228) | (50%) | |
| margin % | 4% | 9% |
In the twelve-month period of 2025, a more favorable income was achieved compared to the previous year. The reason for this is the increase in production compared to the previous year and the optimization of part of the costs.
Employees
In the twelve-month period of 2025. the Group employed 530 employees (in the twelve-month period of 2024: 496 employees).
Environment
Regarding environmental protection, the Group has implemented comprehensive and systematic solutions and established environmentally friendly production processes. In 2022, the company finished building solar power plants at four of its locations.
Other
The Supervisory Board has approved Granolio Group's financial statements for the twelve-month period 2025.
{5}------------------------------------------------
| Annex 1 | |||||
|---|---|---|---|---|---|
| I | SSUER'S GENERA | L DATA | |||
| ı | 1 1 | ||||
| Reporting period: | 1.1.2025 | to | 31.12.2025 | ||
| l | _ | l | |||
| Year: | 2025 | ||||
| Quarter: | 4. | ||||
| Quarterl | y financial staten | nents | |||
| lssuer's ho | ome Member | ||||
| egistration number (MB): | 01244272 | 133461 3 116 | State code: | HRVATSKA | |
| Entity's registration | |||||
| number (MBS): | 08011595 | ||||
| Personal identification | [ | ||||
| number (OIB): | 59064993527 | LEI: | 213800O3Z6ZSDBAKG321 | ||
| Institution | 45000 | ||||
| code: | 15989 | ||||
| Name of the issuer: | GRANOLIO d.d. | ||||
| Name of the issuer. | GIVANOLIO d.u. | ||||
| Postcode and town: | 10000 | ZAGREB | |||
| treet and house number: | Budmanijeva 5 | ||||
| E-mail address: | [email protected] | ||||
| Web address: | www.granolio.hr | ||||
| WWW.granono.nn | |||||
| Number of employees (end of the reporting | 530 | ||||
| (end of the reporting) | |||||
| Consolidated report: | KD (KN | -not consolidated/KD-cor | nsolidated) | ||
| Audited: | RN (F | RN-not audited/RD-audite | d) | ||
| Names of subsidiaries | s (according to IFRS): | Registered | office: | MB: | |
| · · · · · · · · · · · · · · · · · · · | - | ||||
| GRANOLIO d.d. | ZAGREB | 1244272 | |||
| 70 | ENAČKA FARMA d.o.o. | VELIKI ZDENCI | 2095777 | ||
| LITAORA I ARMA 0.0.0. | VELIKI ZDEROI | 2033111 | |||
| ZDENKA-MLIJI | EČNI PROIZVODI d.o.o. | VELIKI ZDENCI | 1623982 | ||
| Bookkeeping firm: | No | (Yes/No) | |||
| (name of the | bookkeeping firm) | ||||
| Contact person: | Mirjana Kelava (only name and surname | of the contact person) | |||
| Telephone: | only name and surname 01/6320-261 |
line contact person) | |||
| , siophone. | |||||
| E-mail address: | [email protected] | ||||
| DD0 0D0:=:: | |||||
| Audit firm: | BDO CROATIA (name of the audit firm) | ||||
| Certified auditor | VEDRANA STIPIĆ | ||||
| 3554 daditol. | (name and surname) |
{6}------------------------------------------------
| 1. | ||
|---|---|---|
| 2. 3. 4. |
||
{7}------------------------------------------------
BALANCE SHEET balance as at 31.12.2025
| Submitter:GRANOLIO d.d. | IN EUR | ||
|---|---|---|---|
| ltem | ADP code |
Last day of the preceding business year | At the reporting date of the current period |
| 1 | 2 | 3 | 4 |
| A) RECEIVABLES FOR SUBSCRIBED CAPITAL UNPAID | 001 | 0 | 0 |
| B) FIXED ASSETS (ADP 003+010+020+031+036) | 002 | 49.942.827 | 51.915.245 |
| I INTANGIBLE ASSETS (ADP 004 to 009) | 003 | 1.352.104 | 1.186.675 |
| Research and development Concessions, patents, licences, trademarks, software and other | 004 | 0 | 0 |
| rights | 005 | 1.352.104 | 1.186.675 |
| 3 Goodwill | 006 | 0 | 0 |
| 4 Advances for the purchase of intangible assets | 007 | 0 | |
| 5 Intangible assets in preparation | 008 | 0 | 0 |
| 6 Other intangible assets | 009 | 0 | |
| II TANGIBLE ASSETS (ADP 011 to 019) | 010 | 48.205.619 | 50.684.198 |
| 1 Land | 011 | 2.051.970 | 2.115.619 |
| 2 Buildings | 012 | 23.010.500 | 26.230.229 |
| 3 Plant and equipment | 013 | 12.969.257 | 18.220.544 |
| 4 Tools, working inventory and transportation assets | 014 | 319.249 | 479.354 |
| 5 Biological assets | 015 | 1.009.361 | 1.056.782 |
| 6 Advances for the purchase of tangible assets | 016 | 0 | 0 |
| 7 Tangible assets in preparation | 017 | 7.983.870 | 1.675.463 |
| 8 Other tangible assets | 018 | 15.197 | 13.911 |
| 9 Investment property | 019 | 846.215 | 892.296 |
| III FIXED FINANCIAL ASSETS (ADP 021 to 030) | 020 | 385.104 | 44.372 |
| 1 Investments in holdings (shares) of undertakings within the group | 021 | 0 | 0 |
| 2 Investments in other securities of undertakings within the group | 022 | 0 | 0 |
| 3 Loans, deposits, etc. to undertakings within the group | 023 | 0 | 0 |
| Investments in holdings (shares) of companies linked by virtue of participating interests | 024 | 0 | 0 |
| 5 Investment in other securities of companies linked by virtue of | |||
| participating interests | 025 | 0 | 0 |
| 6 Loans, deposits etc. to companies linked by virtue of participating | 026 | 0 | 0 |
| interests | |||
| 7 Investments in securities | 027 | 375.261 | 31.364 |
| 8 Loans, deposits, etc. given | 028 | 9.737 | 12.902 |
| 9 Other investments accounted for using the equity method | 029 | 0 | 0 |
| 10 Other fixed financial assets | 030 | 106 | 106 |
| IV RECEIVABLES (ADP 032 to 035) 1 Receivables from undertakings within the group | 031 032 |
0 | 0 |
| 032 | 0 | U | |
| 2 Receivables from companies linked by virtue of participating interests | 033 | 0 | 0 |
| 3 Customer receivables | 034 | 0 | |
| 4 Other receivables | 035 | 0 | |
| V DEFERRED TAX ASSETS | 036 | 0 | · |
| C) CURRENT ASSETS (ADP 038+046+053+063) | 037 | 38.758.456 | |
| I INVENTORIES (ADP 039 to 045) | 038 | 14.680.706 | |
| 1 Raw materials and consumables | 039 | 10.331.406 | |
| 2 Work in progress | 040 | 719.863 | |
| 3 Finished goods 4 Merchandise | 041 | 1.865.239 | |
| 4 Merchandise 5 Advances for inventories | 042 | 1.764.198 | 871.423 |
| 6 Fixed assets held for sale | 043 | 0 | |
| 7 Biological assets | 044 045 |
0 | |
| II RECEIVABLES (ADP 047 to 052) | 045 | 20.808.296 | 19.979.503 |
| 1 Receivables from undertakings within the group | 047 | 648.853 | 658.165 |
| 2 Receivables from companies linked by virtue of participating | 000.100 | ||
| interests | 048 | 0 | 0 |
| 3 Customer receivables 4 Receivables from employees and members of the undertaking | 049 | 15.844.180 | 16.371.878 |
| 4 Receivables from employees and members of the undertaking | 050 | 922 | 30 |
| 5 Receivables from government and other institutions 6 Other receivables | 051 052 |
2.346.562 | |
| III CURRENT FINANCIAL ASSETS (ADP 054 to 062) | 052 053 |
1.967.779 2.764.159 |
1.285.560 3.689.918 |
| 1 Investments in holdings (shares) of undertakings within the group | 054 | 2.764.159 | |
| councils in ficially columns of an actuallings within the group | UU- 1 | ı |
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| 4 Investments in holdings (shares) of companies linked by virtue of participating interests 5 Investment in other securities of companies linked by virtue of participating interests 6 Loans, deposits etc. to companies linked by virtue of participating interests 7 Investments in securities 8 Loans, deposits, etc. given 9 Other financial assets 1062 10 IV CASH AT BANK AND IN HAND 10 Off 1.484.576 10 Off 1.484.576 11 Off 1.484.576 12 Off 1.484.576 13 Off 1.484.576 14 Off 1.484.576 15 Off 1.484.576 16 Off 1.484.576 16 Off 1.484.576 17 Off 1.484.576 18 Off 1.484.576 19 Other financial assets 10 Off 1.484.576 10 Off 1.484.576 10 Off 1.484.576 10 Off 1.484.576 10 Off 1.484.576 10 Off 1.484.576 10 Off 1.484.576 11 Off 1.484.576 12 Off 1.484.576 12 Off 1.484.576 12 Off 1.484.576 12 Off 1.484.576 13 Off 1.484.576 14 Off 1.484.576 15 Off 1.484.576 16 Off 1.484.576 17 Off 1.484.576 18 Off 1.484.576 19 Off 1.484.576 10 Off 1.484.576 11 Off 1.484.576 11 Off 1.484.576 12 Off 1.484.576 13 Off 1.484.576 14 Off 1.484.576 15 Off 1.484.576 16 Off 1.484.576 17 Off 1.484.576 18 Off 1.484.576 19 Off 1.484.576 19 Off 1.484.576 10 Off 1.484.576 10 Off 1.484.576 10 Off 1.484.576 10 Off 1.484.576 11 Off 1.484.576 12 Off 1.484.576 13 Off 1.484.576 14 Off 1.484.576 15 Off 1.484.576 16 Off 1.484.576 17 Off 1.484.576 18 Off 1.484.576 19 Off 1.484.576 19 Off 1.484.576 10 Off 1.484.576 10 Off 1.484.576 10 Off 1.484.576 10 Off 1.484.576 10 Off 1.484.576 10 Off 1.484.576 10 Off 1.484.576 11 Off 1.484.576 12 Off 1.484.576 12 Off 1.484.576 13 Off 1.484.576 14 Off 1.484.576 15 Off 1.484.576 16 Off 1.484.576 17 Off 1.484.576 18 Off 1.484.576 19 Off 1.484.576 19 Off 1.484.576 10 Off 1.484.576 10 Off 1.484.576 10 Off 1.484.576 10 Off 1.484.576 10 Off 1.484.576 10 Off 1.484.576 10 Off 1.484.576 10 Off 1.484.576 10 Off 1.484.576 10 Off 1.484.576 10 Off 1.484.576 10 Off 1.484.576 10 Off 1.484.576 10 Off 1.484.576 10 Off 1.484.576 10 Off 1.484.576 10 Off 1.484.576 10 Off 1.484.576 10 Off 1.484.576 10 Off 1.484.576 10 Off 1.484.576 10 Off 1.484.576 10 Off | 0 .109.725 0 0 19.858 2.560.335 0 .222.453 169.549 3.997.577 2.286.650 2.523.910 .171.233 .348.867 .239.189 109.678 |
|---|---|
| 4 Investments in holdings (shares) of companies linked by virtue of participating interests 5 Investment in other securities of companies linked by virtue of participating interests 6 Loans, deposits etc. to companies linked by virtue of participating interests 7 Investments in securities 060 19.858 8 Loans, deposits, etc. given 061 1.484.576 2 9 Other financial assets 062 0 IV CASH AT BANK AND IN HAND 063 505.295 1 D ) PREPAID EXPENSES AND ACCRUED INCOME 064 67.609 E) TOTAL ASSETS (ADP 001+002+037+064) 065 88.768.892 88 OFF-BALANCE SHEET ITEMS 066 LIABILITIES | 0 0 19.858 2.560.335 0 .222.453 169.549 .997.577 2.286.650 2.523.910 .171.233 .348.867 .239.189 |
| 4 Investments in holdings (shares) of companies linked by virtue of participating interests 5 Investment in other securities of companies linked by virtue of participating interests 6 Loans, deposits etc. to companies linked by virtue of participating interests 7 Investments in securities 060 19.858 8 Loans, deposits, etc. given 061 1.484.576 2 9 Other financial assets 062 0 IV CASH AT BANK AND IN HAND 063 505.295 1 D ) PREPAID EXPENSES AND ACCRUED INCOME 064 67.609 E) TOTAL ASSETS (ADP 001+002+037+064) 065 88.768.892 88 OFF-BALANCE SHEET ITEMS 066 LIABILITIES | 0 0 19.858 2.560.335 0 .222.453 169.549 .997.577 2.286.650 2.523.910 .171.233 .348.867 .239.189 |
| participating interests 057 | 0 19.858 2.560.335 0 .222.453 169.549 2.997.577 3.286.650 2.523.910 .171.233 .348.867 .239.189 |
| Darticipating interests | 0 19.858 2.560.335 0 .222.453 169.549 .997.577 3.286.650 2.523.910 .171.233 .348.867 .239.189 |
| Darticipating interests 0.59 0 | 0 19.858 2.560.335 0 .222.453 169.549 .997.577 3.286.650 2.523.910 .171.233 .348.867 .239.189 |
| Interests | 19.858 .560.335 0 .222.453 169.549 .997.577 .286.650 .523.910 .171.233 .348.867 .239.189 |
| 7 Investments in securities 8 Loans, deposits, etc. given 9 Other financial assets 1062 0 Other financial assets 1062 1V CASH AT BANK AND IN HAND 10 PREPAID EXPENSES AND ACCRUED INCOME 10 TOTAL ASSETS (ADP 001+002+037+064) 10 PREPAID EXPENSES AND ACCRUED INCOME 10 TOTAL ASSETS (ADP 001+002+037+064) 10 Office of the security of the security of the security of the security of the security of the security of the security of the security of the security of the security of the security of the security of the security of the security of the security of the security of the security of the security of the security of the security of the security of the security of the security of the security of the security of the security of the security of the security of the security of the security of the security of the security of the security of the security of the security of the security of the security of the security of the security of the security of the security of the security of the security of the security of the security of the security of the security of the security of the security of the security of the security of the security of the security of the security of the security of the security of the security of the security of the security of the security of the security of the security of the security of the security of the security of the security of the security of the security of the security of the security of the security of the security of the security of the security of the security of the security of the security of the security of the security of the security of the security of the security of the security of the security of the security of the security of the security of the security of the security of the security of the security of the security of the security of the security of the security of the security of the security of the security of the security of the security of the security of the security of the security of the security of the security of the security of the security of the security of the s | .560.335 0 .222.453 169.549 .997.577 .286.650 .523.910 .171.233 .348.867 .239.189 |
| 8 Loans, deposits, etc. given 9 Other financial assets 062 0 IV CASH AT BANK AND IN HAND 063 505.295 1 D) PREPAID EXPENSES AND ACCRUED INCOME 6 O64 67.609 E) TOTAL ASSETS (ADP 001+002+037+064) 065 066 CIABILITIES 066 LIABILITIES A) CAPITAL AND RESERVES (ADP 068 to 070+076+077+083+086+089) I INITIAL (SUBSCRIBED) CAPITAL III CAPITAL RESERVES 069 11.171.208 11 III RESERVES FROM PROFIT (ADP 071+072-073+074+075) 1 Legal reserves 071 1 Legal reserves 072 1 Reserves for treasury shares 072 1 Statutory reserves 074 0 5 Other reserves 075 0 IV REVALUATION RESERVES AND OTHER (ADP 078 to 082) 1 Figuroial assets at fair value through other comprehensive income | .560.335 0 .222.453 169.549 .997.577 .286.650 .523.910 .171.233 .348.867 .239.189 |
| 9 Other financial assets 10 | .222.453 169.549 3.997.577 3.286.650 3.523.910 .171.233 .348.867 .239.189 |
| D ) PREPAID EXPENSES AND ACCRUED INCOME E) TOTAL ASSETS (ADP 001+002+037+064) OFF-BALANCE SHEET ITEMS OFF-BALANCE SHEET ITEMS LIABILITIES A) CAPITAL AND RESERVES (ADP 068 to 070+076+077+083+086+089) IINITIAL (SUBSCRIBED) CAPITAL III CAPITAL RESERVES OFF-BALANCE SHEET ITEMS A) CAPITAL AND RESERVES (ADP 068 to 070+076+077+083+086+089) IINITIAL (SUBSCRIBED) CAPITAL III CAPITAL RESERVES OFF-BALANCE SHEET ITEMS A) CAPITAL AND RESERVES (ADP 068 to 066 IINITIAL (SUBSCRIBED) CAPITAL III CAPITAL RESERVES OFF-BALANCE SHEET ITEMS A) CAPITAL AND RESERVES OFF-BALANCE SHEET ITEMS A) CAPITAL AND RESERVES OFF-BALANCE SHEET ITEMS A) CAPITAL AND RESERVES OFF-BALANCE SHEET ITEMS A) CAPITAL AND RESERVES OFF-BALANCE SHEET ITEMS B) CAPITAL AND RESERVES OFF-BALANCE SHEET ITEMS A) CAPITAL AND RESERVES OFF-BALANCE SHEET ITEMS B) CAPITAL AND RESERVES OFF-BALANCE SHEET ITEMS B) CAPITAL AND RESERVES OFF-BALANCE SHEET ITEMS B) CAPITAL AND RESERVES OFF-BALANCE SHEET ITEMS B) CAPITAL AND RESERVES OFF-BALANCE SHEET ITEMS B) CAPITAL AND RESERVES AND OTHER (ADP 078 to 082) IV FAIR VALUE RESERVES AND OTHER (ADP 078 to 082) I Einancial assets at fair value through other comprehensive income | 169.549 1.997.577 2.286.650 2.523.910 171.233 348.867 .239.189 |
| E) TOTAL ASSETS (ADP 001+002+037+064) 065 88.768.892 88 OFF-BALANCE SHEET ITEMS 066 LIABILITIES A) CAPITAL AND RESERVES (ADP 068 to 070+076+077+083+086+089) 067 28.440.248 28 I INITIAL (SUBSCRIBED) CAPITAL 068 2.523.910 2 II CAPITAL RESERVES 069 11.171.208 11 III RESERVES FROM PROFIT (ADP 071+072-073+074+075) 070 1.348.867 1 1 Legal reserves 071 1.239.189 1 2 Reserves for treasury shares 072 109.678 3 Treasury shares and holdings (deductible item) 073 0 4 Statutory reserves 074 0 5 Other reserves 075 0 IV REVALUATION RESERVES AND OTHER (ADP 078 to 082) 077 0 1 Financial assets at fair value through other comprehensive income | 3.286.650 3.286.650 3.523.910 3.171.233 3.348.867 3.239.189 |
| OFF-BALANCE SHEET ITEMS 066 LIABILITIES A) CAPITAL AND RESERVES (ADP 068 to 070+076+077+083+086+089) 067 28.440.248 28 I INITIAL (SUBSCRIBED) CAPITAL 068 2.523.910 2 II CAPITAL RESERVES 069 11.171.208 11 III RESERVES FROM PROFIT (ADP 071+072-073+074+075) 070 1.348.867 1 1 Legal reserves 071 1.239.189 1 2 Reserves for treasury shares 072 109.678 3 Treasury shares and holdings (deductible item) 073 0 4 Statutory reserves 074 0 5 Other reserves 075 0 IV REVALUATION RESERVES 076 5.264.405 4 V FAIR VALUE RESERVES AND OTHER (ADP 078 to 082) 077 0 1 Financial assets at fair value through other comprehensive income 1 1 | 2.286.650 2.523.910 .171.233 .348.867 .239.189 |
| LIABILITIES A) CAPITAL AND RESERVES (ADP 068 to 070+076+077+083+086+089) 067 28.440.248 28 I INITIAL (SUBSCRIBED) CAPITAL 068 2.523.910 2 II CAPITAL RESERVES 069 11.171.208 11 III RESERVES FROM PROFIT (ADP 071+072-073+074+075) 070 1.348.867 1 1 Legal reserves 071 1.239.189 1 2 Reserves for treasury shares 072 109.678 3 Treasury shares and holdings (deductible item) 073 0 4 Statutory reserves 074 0 5 Other reserves 075 0 IV REVALUATION RESERVES 076 5.264.405 4 V FAIR VALUE RESERVES AND OTHER (ADP 078 to 082) 077 0 1 Financial assets at fair value through other comprehensive income 0 0 | 2.523.910 .171.233 .348.867 .239.189 |
| A) CAPITAL AND RESERVES (ADP 068 to 070+076+077+083+086+089) 067 28.440.248 28 I INITIAL (SUBSCRIBED) CAPITAL 068 2.523.910 2 II CAPITAL RESERVES 069 11.171.208 11 III RESERVES FROM PROFIT (ADP 071+072-073+074+075) 070 1.348.867 1 1 Legal reserves 071 1.239.189 1 2 Reserves for treasury shares 072 109.678 3 Treasury shares and holdings (deductible item) 073 0 4 Statutory reserves 074 0 5 Other reserves 075 0 IV REVALUATION RESERVES 076 5.264.405 4 V FAIR VALUE RESERVES AND OTHER (ADP 078 to 082) 077 0 1 Financial assets at fair value through other comprehensive income 0 0 | 2.523.910 .171.233 .348.867 .239.189 |
| 067 28.440.248 28 28 28 28 28 28 28 | 2.523.910 .171.233 .348.867 .239.189 |
| IINITIAL (SUBSCRIBED) CAPITAL 068 2.523.910 2 1 CAPITAL RESERVES 069 11.171.208 11 1 1 1 1 1 1 1 1 | .171.233 .348.867 .239.189 |
| II CAPITAL RESERVES | .171.233 .348.867 .239.189 |
| III RESERVES FROM PROFIT (ADP 071+072-073+074+075) | .348.867 .239.189 |
| 1 Legal reserves 071 1.239.189 1 2 Reserves for treasury shares 072 109.678 3 Treasury shares and holdings (deductible item) 073 0 4 Statutory reserves 074 0 5 Other reserves 075 0 IV REVALUATION RESERVES 076 5.264.405 4 V FAIR VALUE RESERVES AND OTHER (ADP 078 to 082) 077 0 0 1 Financial assets at fair value through other comprehensive income 0 0 0 | .239.189 |
| 2 Reserves for treasury shares 072 109.678 3 Treasury shares and holdings (deductible item) 073 0 4 Statutory reserves 074 0 5 Other reserves 075 0 IV REVALUATION RESERVES 076 5.264.405 4 V FAIR VALUE RESERVES AND OTHER (ADP 078 to 082) 077 0 1 Financial assets at fair value through other comprehensive income 0 0 | |
| 3 Treasury shares and holdings (deductible item) 073 0 4 Statutory reserves 074 0 5 Other reserves 075 0 IV REVALUATION RESERVES 076 5.264.405 4 V FAIR VALUE RESERVES AND OTHER (ADP 078 to 082) 077 0 1 Financial assets at fair value through other comprehensive income 0 0 | ^ |
| 5 Other reserves 075 0 IV REVALUATION RESERVES 076 5.264.405 4 V FAIR VALUE RESERVES AND OTHER (ADP 078 to 082) 077 0 1 Financial assets at fair value through other comprehensive income 0 0 | U |
| IV REVALUATION RESERVES V FAIR VALUE RESERVES AND OTHER (ADP 078 to 082) 1 Financial assets at fair value through other comprehensive income | 0 |
| V FAIR VALUE RESERVES AND OTHER (ADP 078 to 082) 077 0 1 Financial assets at fair value through other comprehensive income | 0 |
| 1 Financial assets at fair value through other comprehensive income | .865.938 |
| 1 Financial assets at fair value through other comprehensive income I | 0 |
| 0 | |
| (i.e. available for sale) 2 Cash flow hedge - effective portion 079 0 | |
| 3 Hedge of a net investment in a foreign operation - effective portion 080 0 | 0 |
| 4 Other fair value reserves 081 0 | 0 |
| 5 Exchange differences arising from the translation of foreign | |
| operations (consolidation) | 0 |
| VI RETAINED PROFIT OR LOSS BROUGHT FORWARD (ADP 084- | 100 210 |
| 085) | .180.318 |
| · | .180.318 |
| 2 Loss brought forward 085 1.068.214 VII PROFIT OR LOSS FOR THE BUSINESS YEAR (ADP 087-088) 086 4.181.159 | 0 |
| VII PROFIT OR LOSS FOR THE BUSINESS YEAR (ADP 087-088) 086 4.181.159 1 Profit for the business year 087 4.181.159 | 768.401 768.401 |
| 2 Loss for the business year 088 0 | 00.401 |
| · | .427.983 |
| B) PROVISIONS (ADP 091 to 096) 090 0 | 0 |
| 1 Provisions for pensions, termination benefits and similar | |
| obligations 0 pensions, termination benefits and similar 091 | 0 |
| 2 Provisions for tax liabilities 092 0 3 Provisions for ongoing legal cases 093 0 | 0 |
| 4 Provisions for renewal of natural resources 094 0 | 0 |
| 5 Provisions for warranty obligations 095 0 | 0 |
| 6 Other provisions 096 0 | 0 |
| · | 5.943.078 |
| 1 Liabilities to undertakings within the group 098 0 | 0 |
| 2 Liabilities for loans, deposits, etc. of undertakings within the group 099 0 | 0 |
| 3 Liabilities to companies linked by virtue of participating interests 100 0 | 0 |
| 4 Liabilities for loans, deposits etc. of companies linked by virtue of | .344.723 |
| participating interests | |
| 5 Liabilities for loans, deposits etc. 102 530.892 | 265.446 |
| .922.729 | |
| 7 Liabilities for advance payments 104 0 8 Liabilities to suppliers 105 432.702 | 175.724 |
| 9 Liabilities for securities 106 332.647 | 166.323 |
| 10 Other long-term liabilities 107 0 | 0 |
| 1 107 1 107 1 | .068.133 |
| ŭ . | |
| 11 Deferred tax liability 108 1.155.601 1 | .079.778 |
{9}------------------------------------------------
| 2 Liabilities for loans, deposits, etc. of undertakings within the group | 111 | 0 | 0 |
|---|---|---|---|
| 3 Liabilities to companies linked by virtue of participating interests | 112 | 0 | 0 |
| 4 Liabilities for loans, deposits etc. of companies linked by virtue of participating interests | 113 | 0 | 0 |
| 5 Liabilities for loans, deposits etc. | 114 | 4.470.605 | 4.736.051 |
| 6 Liabilities to banks and other financial institutions | 115 | 3.014.883 | 3.592.597 |
| 7 Liabilities for advance payments | 116 | 1.002.554 | 469.105 |
| 8 Liabilities to suppliers | 117 | 20.281.270 | 18.869.184 |
| 9 Liabilities for securities | 118 | 166.323 | 166.323 |
| 10 Liabilities to employees | 119 | 592.015 | 676.598 |
| 11 Taxes, contributions and similar liabilities | 120 | 653.893 | 1.141.095 |
| 12 Liabilities arising from the share in the result | 121 | 0 | 0 |
| 13 Liabilities arising from fixed assets held for sale | 122 | 0 | 0 |
| 14 Other short-term liabilities | 123 | 492.819 | 319.462 |
| E) ACCRUALS AND DEFERRED INCOME | 124 | 3.234.529 | 3.688.071 |
| F) TOTAL - LIABILITIES (ADP 067+090+097+109+124) | 125 | 88.768.892 | 88.997.577 |
| G) OFF-BALANCE SHEET ITEMS | 126 |
{10}------------------------------------------------
STATEMENT OF PROFIT OR LOSS
for the period 01.01.2025 to 31.12.2025
| Item | Same period of the previous year | Current period | ||||
|---|---|---|---|---|---|---|
| code | Cumulative | Quarter | Cumulative | Quarter | ||
| 1 | 2 | 3 | 4 | 5 | 6 | |
| I OPERATING INCOME (ADP 002 to 006) | 001 | 101.105.449 | 28.529.920 | 116.180.630 | 32.067.297 | |
| 1 Income from sales with undertakings within the group | 002 | 0 | 0 | 2.503 | 403 | |
| 2 Income from sales (outside group) 3 Income from the use of own products, goods and services |
003 | 94.415.778 | 26.846.019 78.832 |
112.078.583 209.703 |
30.716.354 68.828 |
|
| 4 Other operating income with undertakings within the group | 004 005 |
207.213 0 |
0 | 0 | ||
| 5 Other operating income (outside the group) | 006 | 6.482.458 | 1.605.069 | 3.889.841 | 1.281.712 | |
| II OPERATING EXPENSES (ADP 08+009+013+017+018+019+022+029) | 007 | 93.900.149 | 26.396.801 | 112.544.017 | 30.418.049 | |
| 1 Changes in inventories of work in progress and finished goods | 008 | 13.944 | -357.886 | -1.531.404 | -14.467 | |
| 2 Material costs (ADP 010 to 012) | 009 | 78.648.710 | 22.630.804 | 95.525.539 | 25.425.403 | |
| a) Costs of raw materials and consumables | 010 | 57.262.498 | 16.567.599 | 71.694.999 | 17.568.129 | |
| b) Costs of goods sold | 011 | 14.392.807 | 3.847.481 | 14.280.113 | 5.231.421 | |
| c) Other external costs | 012 | 6.993.405 | 2.215.724 | 9.550.427 | 2.625.853 | |
| 3 Staff costs (ADP 014 to 016) | 013 | 8.665.740 | 2.363.222 | 11.275.738 | 2.942.292 | |
| a) Net salaries and wages | 014 | 5.707.539 | 1.565.121 | 7.175.548 | 1.873.524 | |
| b) Tax and contributions from salary costs | 015 | 1.881.754 | 507.330 | 2.702.221 | 704.469 | |
| c) Contributions on salaries | 016 | 1.076.447 | 290.771 | 1.397.969 | 364.299 | |
| 4 Depreciation | 017 | 3.553.923 | 903.692 424.482 |
4.034.596 1.863.304 |
1.047.763 555.495 |
|
| 5 Other costs 6 Value adjustments (ADP 020+021) |
018 019 |
1.538.357 4.504 |
4.504 | 2.467 | 2.467 | |
| a) fixed assets other than financial assets | 020 | 0 | 0 | 0 | ||
| b) current assets other than financial assets | 021 | 4.504 | 4.504 | 2.467 | 2.467 | |
| 7 Provisions (ADP 023 to 028) | 022 | 0 | 0 | 0 | ||
| a) Provisions for pensions, termination benefits and similar obligations | 023 | 0 | 0 | 0 | ||
| b) Provisions for tax liabilities | 024 | 0 | 0 | 0 | ||
| c) Provisions for ongoing legal cases | 025 | 0 | 0 | 0 | ||
| d) Provisions for renewal of natural resources | 026 | 0 | 0 | 0 | ||
| e) Provisions for warranty obligations | 027 | 0 | 0 | 0 | ||
| f) Other provisions | 028 | 0 | 0 | 0 | ||
| 8 Other operating expenses | 029 | 1.474.971 | 427.983 | 1.373.777 | 459.096 | |
| III FINANCIAL INCOME (ADP 031 to 040) | 030 | 521.831 | 22.730 | 140.421 | 33.961 | |
| 1 Income from investments in holdings (shares) of undertakings within the group |
031 | 0 | 0 | 0 | ||
| 2 Income from investments in holdings (shares) of companies linked by virtue of participating interests |
032 | 0 | 0 | 0 | ||
| 3 Income from other long-term financial investment and loans granted to undertakings within the group |
033 | 0 | 0 | 0 | ||
| 4 Other interest income from operations with undertakings within the | 034 | 17.502 | 16.038 | 18.950 | 17.042 | |
| group 5 Exchange rate differences and other financial income from operations |
0 | 0 | ||||
| with undertakings within the group 6 Income from other long-term financial investments and loans |
035 | 0 | 2.369 | 117.565 | 16.028 | |
| 7 Other interest income | 036 | 2.369 | 4.323 | 3.015 | ||
| 8 Exchange rate differences and other financial income | 037 038 |
444.715 0 |
0 | 0 | ||
| 9 Unrealised gains (income) from financial assets | 039 | 0 | 0 | 0 | ||
| 10 Other financial income | 040 | 57.245 | 0 | 891 | 891 | |
| IV FINANCIAL EXPENSES (ADP 042 to 048) | 041 | 1.513.995 | 467.817 | 2.236.342 | 521.778 | |
| 1 Interest expenses and similar expenses with undertakings within the group |
042 | 114.607 | 28.808 | 280.505 | 29.023 | |
| 2 Exchange rate differences and other expenses from operations with undertakings within the group |
043 | 0 | 0 | 0 | ||
| 3 Interest expenses and similar expenses | 044 | 1.393.076 | 439.009 | 1.949.698 | 492.579 | |
| 4 Exchange rate differences and other expenses | 045 | 0 | 0 | 0 | ||
| 5 Unrealised losses (expenses) from financial assets | 046 | 0 | 0 | 0 | ||
| 6 Value adjustments of financial assets (net) | 047 | 0 | 0 | 0 | ||
| 7 Other financial expenses | 048 | 6.312 | 0 | 6.139 | 176 | |
| V SHARE IN PROFIT FROM UNDERTAKINGS LINKED BY VRITUE OF PARTICIPATING INTERESTS |
049 | 0 | 0 | 0 | ||
| VI SHARE IN PROFIT FROM JOINT VENTURES | 050 | 0 | 0 | 0 | ||
| VII SHARE IN LOSS OF COMPANIES LINKED BY VIRTUE OF PARTICIPATING INTEREST |
051 | 0 | 0 | 0 | ||
| VIII SHARE IN LOSS OF JOINT VENTURES | 052 | 0 | 0 | 0 | ||
| IX TOTAL INCOME (ADP 001+030+049 +050) | 053 | 101.627.280 | 28.552.650 | 116.321.051 | 32.101.258 | |
| X TOTAL EXPENDITURE (ADP 007+041+051 + 052) | 054 | 95.414.144 | 26.864.618 | 114.780.359 | 30.939.827 | |
| XI PRE-TAX PROFIT OR LOSS (ADP 053-054) | 055 | 6.213.136 | 1.688.032 | 1.540.692 | 1.161.431 | |
| 1 Pre-tax profit (ADP 053-054) | 056 | 6.213.136 | 1.688.032 | 1.540.692 | 1.161.431 | |
| 2 Pre-tax loss (ADP 054-053) | 057 | 0 | 0 | 0 | ||
| XII INCOME TAX | 058 | 623.447 5.589.689 |
623.447 1.064.585 |
371.094 1.169.598 |
371.094 790.337 |
{11}------------------------------------------------
| 1 Profit for the period (ADP 055-059) | 060 | 5.589.689 | 1.064.585 | 1.169.598 | 790.337 |
|---|---|---|---|---|---|
| 2 Loss for the period (ADP 059-055) | 061 | 0 | 0 | 0 | 0 |
| DISCONTINUED OPERATIONS (to be filled in by undertakings subject to IFRS only with discontinued operations) | |||||
| XIV PRE-TAX PROFIT OR LOSS OF DISCONTINUED OPERATIONS | 062 | 0 | 0 | 0 | 0 |
| (ADP 063-064) | |||||
| 1 Pre-tax profit from discontinued operations | 063 | 0 | 0 | 0 | 0 |
| 2 Pre-tax loss on discontinued operations | 064 | 0 | 0 | 0 | 0 |
| XV INCOME TAX OF DISCONTINUED OPERATIONS | 065 | 0 | 0 | 0 | 0 |
| 1 Discontinued operations profit for the period (ADP 062-065) | 066 | 0 | 0 | 0 | 0 |
| 2 Discontinued operations loss for the period (ADP 065-062) | 067 | 0 | 0 | 0 | 0 |
| TOTAL OPERATIONS (to be filled in only by undertakings subject to IFRS with discontinued operations) | |||||
| XVI PRE-TAX PROFIT OR LOSS (ADP 055-+062) | 068 | 0 | 0 | 0 | 0 |
| 1 Pre-tax profit (ADP 068) | 069 | 0 | 0 | 0 | 0 |
| 2 Pre-tax loss (ADP 068) | 070 | 0 | 0 | 0 | 0 |
| XVII INCOME TAX (ADP 058+065) | 071 | 0 | 0 | 0 | 0 |
| XVIII PROFIT OR LOSS FOR THE PERIOD (ADP 068-071) | 072 | 0 | 0 | 0 | 0 |
| 1 Profit for the period (ADP 068-071) | 073 | 0 | 0 | 0 | 0 |
| 2 Loss for the period (ADP 071-068) | 074 | 0 | 0 | 0 | 0 |
| APPENDIX to the P&L (to be filled in by undertakings that draw up consolidated annual financial statements) | |||||
| XIX PROFIT OR LOSS FOR THE PERIOD (ADP 076+077) | 075 | 5.589.689 | 1.064.585 | 1.169.598 | 790.338 |
| 1 Attributable to owners of the parent | 076 | 4.181.158 | 723.736 | 760.528 | 720.823 |
| 2 Attributable to minority (non-controlling) interest | 077 | 1.408.531 | 340.849 | 409.070 | 69.515 |
| STATEMENT OF OTHER COMPRHENSIVE INCOME (to be filled in by undertakings subject to IFRS) | |||||
| I PROFIT OR LOSS FOR THE PERIOD | 078 | 5.589.689 | 1.064.585 | 1.169.598 | 790.338 |
| II OTHER COMPREHENSIVE INCOME/LOSS BEFORE TAX (ADP 80+ 87) |
079 | 0 | 0 | 0 | 0 |
| III Items that will not be reclassified to profit or loss (ADP 081 to 085) | 080 | 0 | 0 | 0 | 0 |
| 1 Changes in revaluation reserves of fixed tangible and intangible assets |
081 | 0 | 0 | 0 | 0 |
| 2 Gains or losses from subsequent measurement of equity instruments at fair value through other comprehensive income |
082 | 0 | 0 | 0 | 0 |
| 3 Fair value changes of financial liabilities at fair value through statement of profit or loss, attributable to changes in their credit risk |
083 | 0 | 0 | 0 | 0 |
| 4 Actuarial gains/losses on the defined benefit obligation | 084 | 0 | 0 | 0 | 0 |
| 5 Other items that will not be reclassified | 085 | 0 | 0 | 0 | 0 |
| 6 Income tax relating to items that will not be reclassified | 086 | 0 | 0 | 0 | 0 |
| IV Items that may be reclassified to profit or loss (ADP 088 to 095) | 087 | 0 | 0 | 0 | 0 |
| 1 Exchange rate differences from translation of foreign operations | 088 | 0 | 0 | 0 | 0 |
| 2 Gains or losses from subsequent measurement of debt securities at fair value through other comprehensive income |
089 | 0 | 0 | 0 | 0 |
| 3 Profit or loss arising from effective cash flow hedging | 090 | 0 | 0 | 0 | 0 |
| 4 Profit or loss arising from effective hedge of a net investment in a foreign operation |
091 | 0 | 0 | 0 | 0 |
| 5 Share in other comprehensive income/loss of companies linked by virtue of participating interests |
092 | 0 | 0 | 0 | 0 |
| 6 Changes in fair value of the time value of option | 093 | 0 | 0 | 0 | 0 |
| 7 Changes in fair value of forward elements of forward contracts | 094 | 0 | 0 | 0 | 0 |
| 8 Other items that may be reclassified to profit or loss | 095 | 0 | 0 | 0 | 0 |
| 9 Income tax relating to items that may be reclassified to profit or loss V NET OTHER COMPREHENSIVE INCOME OR LOSS (ADP 080+087- |
096 | 0 | 0 | 0 | 0 |
| 086 - 096) VI COMPREHENSIVE INCOME OR LOSS FOR THE PERIOD (ADP |
097 | 0 | 0 | 0 | 0 |
| 078+097) | 098 | 5.589.689 | 1.064.585 | 1.169.598 | 790.338 |
| APPENDIX to the Statement on comprehensive income (to be filled in by undertakings that draw up consolidated statements) | |||||
| VI COMPREHENSIVE INCOME OR LOSS FOR THE PERIOD (ADP 100+101) |
099 | 5.589.689 | 1.064.585 | 1.169.598 | 790.338 |
| 1 Attributable to owners of the parent | 100 | 4.181.158 | 723.736 | 760.528 | 720.823 |
| 2 Attributable to minority (non-controlling) interest | 101 | 1.408.531 | 340.849 | 409.070 | 69.515 |
{12}------------------------------------------------
STATEMENT OF CASH FLOWS - indirect method for the period 01.01.2025 . to 31.12.2025
| Submitter: GRANOLIO d.d | |||
|---|---|---|---|
| Item | ADP code |
Same period of the previous year |
Current period |
| 1 | 2 | 3 | 4 |
| Cash flow from operating activities | |||
| 1 Pre-tax profit | 001 | 6.213.138 | 1.540.692 |
| 2 Adjustments (ADP 003 to 010): a) Depreciation |
002 | 4.017.910 | 5.408.584 |
| b) Gains and losses from sale and value adjustment of fixed tangible and intangible assets |
003 004 |
3.553.923 389.817 |
4.034.596 199.407 |
| c) Gains and losses from sale and unrealised gains and losses and value adjustment of financial assets |
005 | -150.462 | 0 |
| d) Interest and dividend income | 006 | -432.456 | -22.359 |
| e) Interest expenses | 007 | 1.500.858 | 2.227.553 |
| f) Provisions | 008 | 0 | 0 |
| g) Exchange rate differences (unrealised) | 009 | 0 | 0 |
| h) Other adjustments for non-cash transactions and unrealised gains and losses |
010 | -843.770 | -1.030.613 |
| I Cash flow increase or decrease before changes in working capital (ADP 001+002) |
011 | 10.231.048 | 6.949.276 |
| 3 Changes in the working capital (ADP 013 to 016) | 012 | -5.903.204 | 2.054.556 |
| a) Increase or decrease in short-term liabilities | 013 | 6.429.656 | -1.892.372 |
| b) Increase or decrease in short-term receivables | 014 | -5.868.129 | 837.298 |
| c) Increase or decrease in inventories | 015 | -6.464.731 | 3.109.630 |
| d) Other increase or decrease in working capital II Cash from operations (ADP 011+012) |
016 | 0 | 0 |
| 4 Interest paid | 017 018 |
4.327.844 -1.068.876 |
9.003.832 -2.026.624 |
| 5 Income tax paid | 019 | -440.481 | -546.564 |
| A) NET CASH FLOW FROM OPERATING ACTIVITIES (ADP 017 to 019) | 020 | 2.818.487 | 6.430.644 |
| Cash flow from investment activities | |||
| 1 Cash receipts from sales of fixed tangible and intangible assets | 021 | 0 | 158.788 |
| 2 Cash receipts from sales of financial instruments | 022 | 0 | 0 |
| 3 Interest received | 023 | 416.713 | 6.138 |
| 4 Dividends received 5 Cash receipts from repayment of loans and deposits |
024 | 0 | 0 |
| 6 Other cash receipts from investment activities | 025 026 |
2.965.757 0 |
0 343.898 |
| III Total cash receipts from investment activities (ADP 021 to 026) | 027 | 3.382.470 | 508.824 |
| 1 Cash payments for the purchase of fixed tangible and intangible assets | 028 | -17.565.180 | -5.798.659 |
| 2 Cash payments for the acquisition of financial instruments | 029 | 0 | 0 |
| 3 Cash payments for loans and deposits for the period | 030 | -441.246 | -927.836 |
| 4 Acquisition of a subsidiary, net of cash acquired | 031 | 0 | 0 |
| 5 Other cash payments from investment activities | 032 | 0 | 0 |
| IV Total cash payments from investment activities (ADP 028 to 032) | 033 | -18.006.426 | -6.726.495 |
| B) NET CASH FLOW FROM INVESTMENT ACTIVITIES (ADP 027 +033) | 034 | -14.623.956 | -6.217.671 |
| Cash flow from financing activities 1 Cash receipts from the increase in initial (subscribed) capital |
035 | 0 | 0 |
| 2 Cash receipts from the issue of equity financial instruments and debt | 036 | 0 | 0 |
| financial instruments | |||
| 3 Cash receipts from credit principals, loans and other borrowings | 037 | 21.119.823 | 12.189.788 |
| 4 Other cash receipts from financing activities V Total cash receipts from financing activities (ADP 035 to 038) |
038 039 |
0 21.119.823 |
0 12.189.788 |
| 1 Cash payments for the repayment of credit principals, loans and other borrowings and debt financial instruments |
040 | -10.645.718 | -10.196.084 |
| 2 Cash payments for dividends | 041 | -500.000 | -1.323.195 |
| 3 Cash payments for finance lease | 042 | -34.926 | 0 |
| 4 Cash payments for the redemption of treasury shares and decrease in | 043 | -3.500 | -166.323 |
| initial (subscribed) capital 5 Other cash payments from financing activities |
044 | -166.323 | 0 |
| VI Total cash payments from financing activities (ADP 040 to 044) | 045 | -11.350.467 | -11.685.602 |
| C) NET CASH FLOW FROM FINANCING ACTIVITIES (ADP 039 +045) | 046 | 9.769.356 | 504.186 |
| 1 Unrealised exchange rate differences in respect of cash and cash equivalents |
047 | 0 | 0 |
| D) NET INCREASE OR DECREASE IN CASH FLOWS (ADP 020+034+046+047) |
048 | -2.036.113 | 717.159 |
| E) CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE PERIOD |
049 | 2.541.408 | 505.295 |
{13}------------------------------------------------
STATEMENT OF CASH FLOWS - direct method
for the period __.__.____ to __.__.____
| Submitter: | |||
|---|---|---|---|
| Item | ADP code |
Same period of the previous year |
Current period |
| 1 | 2 | 3 | 4 |
| Cash flow from operating activities | |||
| 1 Cash receipts from customers | 001 | 0 | 0 |
| 2 Cash receipts from royalties, fees, commissions and other revenue | 002 | ||
| 3 Cash receipts from insurance premiums | 003 | ||
| 4 Cash receipts from tax refund | 004 | ||
| 5 Other cash receipts from operating activities | 005 | ||
| I Total cash receipts from operating activities (ADP 001 to 005) | 006 | 0 | 0 |
| 1 Cash payments to suppliers | 007 | ||
| 2 Cash payments to employees | 008 | ||
| 3 Cash payments for insurance premiums | 009 | ||
| 4 Interest paid | 010 | ||
| 5 Income tax paid | 011 | ||
| 6 Other cash payments from operating activities | 012 | ||
| II Total cash payments from operating activities (ADP 007 to 012) | 013 | 0 | 0 |
| A) NET CASH FLOW FROM OPERATING ACTIVITIES (ADP 006 + 013) | 014 | 0 | 0 |
| Cash flow from investment activities | |||
| 1 Cash receipts from sales of fixed tangible and intangible assets | 015 | ||
| 2 Cash receipts from sales of financial instruments | 016 | ||
| 3 Interest received | 017 | ||
| 4 Dividends received | 018 | ||
| 5 Cash receipts from the repayment of loans and deposits | 019 | ||
| 6 Other cash receipts from investment activities | 020 | ||
| III Total cash receipts from investment activities (ADP 015 to 020) | 021 | 0 | 0 |
| 1 Cash payments for the purchase of fixed tangible and intangible assets |
022 | ||
| 2 Cash payments for the acquisition of financial instruments | 023 | ||
| 3 Cash payments for loans and deposits | 024 | ||
| 4 Acquisition of a subsidiary, net of cash acquired | 025 | ||
| 5 Other cash payments from investment activities | 026 | ||
| IV Total cash payments from investment activities (ADP 022 to 026) | 027 | 0 | 0 |
| B) NET CASH FLOW FROM INVESTMENT ACTIVITIES (ADP 021 + | |||
| 027) | 028 | 0 | 0 |
| Cash flow from financing activities | |||
| 1 Cash receipts from the increase in initial (subscribed) capital | 029 | ||
| 2 Cash receipts the from issue of equity financial instruments and debt | 030 | ||
| financial instruments | |||
| 3 Cash receipts from credit principals, loans and other borrowings | 031 | ||
| 4 Other cash receipts from financing activities | 032 | ||
| V Total cash receipts from financing activities (ADP 029 to 032) | 033 | 0 | 0 |
| 1 Cash payments for the repayment of credit principals, loans andother borrowings and debt financial instruments |
034 | ||
| 2 Cash payments for dividends | 035 | ||
| 3 Cash payments for finance lease | 036 | ||
| 4 Cash payments for the redemption of treasury shares and decrease in | |||
| initial (subscribed) capital | 037 | ||
| 5 Other cash payments from financing activities | 038 | ||
| VI Total cash payments from financing activities (ADP 034 to 038) | 039 | 0 | 0 |
| C) NET CASH FLOW FROM FINANCING ACTIVITIES (ADP 033 +039) | 040 | 0 | 0 |
| 1 Unrealised exchange rate differences in respect of cash and cash | 041 | ||
| equivalents D) NET INCREASE OR DECREASE IN CASH FLOWS (ADP 014 + 028 + |
|||
| 040 + 041) E) CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE |
042 | 0 | 0 |
| PERIOD | 043 | ||
| F) CASH AND CASH EQUIVALENTS AT THE END OF THE PERIOD | 044 | 0 | 0 |
{14}------------------------------------------------
| STATEMENT OF CH for the period from 1.1.2025 to |
HANGES 31.12.202 |
IN EQUITY 5 |
in EUR | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Attributable to ow | rers of the parent Fair value of |
Minority (non- | |||||||||||||||||
| Item | ADP code |
Initial (subscribed) capital |
Reserves for treasury shares | Treasury shares and holdings (deductible Statem) | Revaluation reserves | through other comprehensive income (available for |
Cash flow hedge - effective portion |
Hedge of a net investment in a foreign operation - effective portion |
Other fair value reserves | differences from translation of foreign operations |
Retained profit / loss brought forward |
Profit/loss for the business year | Total attributable to owners of the parent |
controlling) interest |
Total capital and reserves | ||||
| 1 | 6 | 11 | 14 | 15 | 16 | 18 (3 to 6 - 7 + 8 to 17) |
20 (18+19) | ||||||||||||
| Previous period 1 Balance on the first day of the previous business year | 01 | 2.523.910 | 11.174.708 | 1.140.679 | 106.178 | ام | 0 | 1 0 | 5.662.872 | 1 . | -3.257.131 | 1.892.460 | 19.243.676 | 4.110.382 | 23.354.058 | ||||
| 2 Changes in accounting policies | 02 | 2.525.510 | 0 0 | 0 | 0 | 0 | 0 | 0 | 0 | O. | 0 | 0 | 0 | 0 | 0.237.137 | 0 | 0 | 0 | 0 |
| 3 Correction of errors 4 Balance on the first day of the previous business year (restated) (ADP 01 to 03) | 03 04 |
2.523.910 | 11.174.708 | 1.140.679 | 106.178 | 0 | 0 | 0 | 5.862.872 | 0 | 0 | 0 | 0 | 0 | -3.257.131 | 1.892.460 | 19.243.676 | 4.110.382 | 23.354.058 |
| 5 Profit/loss of the period | 05 | ( | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 4.181.159 | 4.181.159 | 1.408.532 | 5.589.691 |
| 6 Exchange rate differences from translation of foreign operations | 06 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| 7 Changes in revaluation reserves of fixed tangible and intangible assets | 07 | ( | 0 | 0 | 0 | 0 | 0 | 0 | -398.467 | i i | 0 | 0 | 0 | 0 | 398.467 | 0 | 0 | 0 | 0 |
| 8 Gains or losses from subsequent measurement of financial assets at fair value through other comprehensive income (available for sale) |
08 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| 9 Profit or loss arising from effective cash flow hedge | 09 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| 10 Profit or loss arising from effective hedge of a net investment in a foreign operation | 10 | ( | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| 11 Share in other comprehensive income/loss of companies linked by virtue of participating interests |
11 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||
| 12 Actuarial gains/losses on the defined benefit obligation 13 Other changes in equity unrelated to owners | 12 13 |
9 | 0 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 14 Tax on transactions recognised directly in equity | 13 | ( | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 15 Decrease in initial (subscribed) capital (other than arising from the pre-bankruptcy settlement procedure or from the reinvestment of profit) | 15 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| 16 Decrease in initial (subscribed) capital arising from the pre-bankruptcy settlement procedure | 16 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||
| 17 Decrease in initial (subscribed) capital arising from the reinvestment of profit | 17 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | C | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | C | |
| 18 Redemption of treasury shares/holdings | 18 | -3.500 | 0 | 3.500 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -3.500 | 0 | -3.500 | 0 | -3.500 | |
| 19 Payments from members/shareholders 20 Payment of share in profit/dividend |
19 20 |
0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -500.000 | -500.000 | |
| 21 Other distributions and payments to members/shareholders | 21 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | C | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| 22 Transfer to reserves according to the annual schedule 23 Increase in reserves arising from the pre-bankruptcy settlement procedure | 22 23 |
0 0 | 98.503 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1.793.957 | -1.892.460 0 |
0 | 0 | 0 | |
| 24 Balance on the last day of the previous business year reporting period (ADP 04 to 23) | 24 | 2.523.910 | 11.171.208 | 1.239.182 | 109.678 | 0 | 0 | 0 | 5.264.405 | 0 | 0 | 0 | 0 | 0 | -1.068.207 | 4.181.159 | 23.421.335 | 5.018.914 | 28.440.249 |
| APPENDIX TO THE STATEMENT OF CHANGES IN EQUITY (to be filled in by under | rtakings that o | draw up financial states | ments in accordance wit | th the IFRS) | I | 1 | 1 | 1 | 1 | 1 | 1 | ||||||||
| I OTHER COMPREHENSIVE INCOME OF THE PREVIOUS PERIOD, NET OF TAX (ADP 06 to 14) | 25 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -398.467 | C | 0 | 0 | C | o c | 398.467 | 0 | 0 | 0 | 0 |
| II COMPREHENSIVE INCOME OR LOSS FOR THE PREVIOUS PERIOD (ADP 05+25) | 26 | 0 | 0 | 0 | 0 | 0 | 0 | -398.467 | d | 0 | 0 | o | 0 | 398.467 | 4.181.159 | 4.181.159 | 1.408.532 | 5.589.691 | |
| III TRANSACTIONS WITH OWNERS IN THE PREVIOUS PERIOD RECOGNISED DIRECTLY IN EQUITY (ADP 15 to 23) Current period | 27 | -3.500 | 98.503 | 3.500 | 0 | 0 | 0 | 0 | C | 0 | 0 | O | 0 | 1.790.457 | -1.892.460 | -3.500 | -500.000 | -503.500 | |
| 1 Balance on the first day of the current business year | 28 | 2.523.910 | 11.171.208 | 1.239.181 | 109.678 | 0 | 0 | 0 | 5.264.405 | C | 0 | 0 | 0 | 0 | -1.068.206 | 4.181.159 | 23.421.335 | 5.018.914 | 28.440.249 |
| 2 Changes in accounting policies 3 Correction of errors |
29 30 |
0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||
| 4 Balance on the first day of the current business year (restated) (AOP 28 to 30) | 31 | 2.523.910 | 11.171.208 | 1.239.189 | 109.678 | 0 | 0 | 0 | 5.264.405 | C | 0 | 0 | 0 | 0 | -1.068.215 | 4.181.159 | 23.421.334 | 5.018.914 | 28.440.248 |
| 5 Profit/loss of the period 6 Exchange rate differences from translation of foreign operations |
32 33 |
0 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 760.528 0 |
760.528 0 |
409.070 0 |
1.169.59 | |
| 7 Changes in revaluation reserves of fixed tangible and intangible assets | 34 | 0 0 | 0 | 0 | 0 | 0 | 0 | -398.467 | 0 | 0 | 0 | 0 | 0 | 398.467 | 0 | 0 | 0 | ( | |
| 8 Gains or losses from subsequent measurement of financial assets at fair value | 35 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||
| through other comprehensive income (available for sale) 9 Profit or loss arising from effective cash flow hedge | 36 | 0 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||||
| 10 Profit or loss arising from effective hedge of a net investment in a foreign operation | 37 | ( | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| 11 Share in other comprehensive income/loss of companies linked by virtue of participating interests |
38 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||
| 12 Actuarial gains/losses on the defined benefit obligation | 39 | ( | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ( |
| 13 Other changes in equity unrelated to owners 14 Tax on transactions recognised directly in equity | 40 41 |
0 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| 15 Decrease in initial (subscribed) capital (other than arising from the pre-bankruptcy settlement procedure or from the reinvestment of profit) |
42 | ( | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 16 Decrease in initial (subscribed) capital arising from the pre-bankruptcy settlement procedure |
43 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| 17 Decrease in initial (subscribed) capital arising from the reinvestment of profit | 44 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||
| 18 Redemption of treasury shares/holdings | 45 | ( | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ( | |
| 19 Payments from members/shareholders 20 Payment of share in profit/dividend | 46 47 |
0 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -323.195 | 0 | -323.195 | -1.000.000 | -1.323.19 | |
| 21 Other distributions and payments to members/shareholders 22 Carryforward per annual plane |
48 49 |
( | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 4.181.159 |
-4.181.159 | 0 | 0 | |
| 23 Increase in reserves arising from the pre-bankruptcy settlement procedure | 50 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 4.101.109 | ···.101.109 0 |
0 | 0 | ||
| 24 Balance on the last day of the current business year reporting period (ADP 31 to 50) APPENDIX TO THE STATEMENT OF CHANGES IN EQUITY (to be filled in by under | 51 ertakings that o |
2.523.910 draw up financial state |
11.171.208 ments in accordance wit |
1.239.189 th the IFRS) |
109.678 | 0 | 0 | 0 | 4.865.938 | C | 0 | 0 | O | 0 | 3.188.216 | 760.528 | 23.858.667 | 4.427.984 | 28.286.65 |
| I OTHER COMPREHENSIVE INCOME FOR THE CURRENT PERIOD, NET OF TAX (ADP 33 to 41) | 52 | 0 | 0 | 0 | 0 | 0 | 0 | -398.467 | C | 0 | 0 | 0 | 398.467 | 0 | 0 | 0 | |||
| II COMPREHENSIVE INCOME OR LOSS FOR THE CURRENT PERIOD (ADP 32 do 52) | 53 | 0 | 0 | 0 | 0 | 0 | 0 | -398.467 | d | 0 | 0 | a | a | 398.467 | 760.528 | 760.528 | 409.070 | 1.169.59 | |
| III TRANSACTIONS WITH OWNERS IN THE CURRENT PERIOD RECOGNISED DIRECTLY IN EQUITY (ADP 42 to 50) | 54 | ( | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 3.857.964 | -4.181.159 | -323.195 | -1.000.000 | -1.323.198 |
{15}------------------------------------------------
NOTES TO FINANCIAL STATEMENTS - TFI Name of the issuer: _______________________________________________________ Personal identification number (OIB): ________________________________________________________ Reporting period: _____________________________________________
a) explanation of business events relevant to understanding changes in the statement of financial position and financial performance for the reporting semi-annual period of the issuer with respect to the last business year: information is provided regarding these events and relevant information published in the last annual financial statement is updated (items 15 to 15C IAS 34 - Interim financial reporting)
b) information on the access to the latest annual financial statements, for the purpose of understanding information published in the notes to financial statements drawn up for the semi-annual reporting period
c) a statement explaining that the same accounting policies are applied while drawing up financial statements for the semi-annual reporting period as in the latest annual financial statements or, in the case where the accounting policies have changed, a description of the nature and effect of the changes (item 16.A (a) IAS 34 - Interim financial reporting)
d) a description of the financial performance in the case of the issuer whose business is seasonal (items 37 and 38 IAS 34 - Interim financial reporting) e) other comments prescribed by IAS 34 - Interim financial reporting
f) in the notes to quarterly periods financial statements, in addition to the information stated above, information in respect of the following matters shall be disclosed:
-
undertaking's name, registered office (address), legal form, country of establishment, entity's registration number and, if applicable, the indication whether the undertaking is undergoing liquidation, bankruptcy proceedings, shortened termination proceedings or extraordinary administration
-
adopted accounting policies (only an indication of whether there has been a change from the previous period) 4. the amount and nature of individual items of income or expenditure which are of exceptional size or incidence
-
amounts owed by the undertaking and falling due after more than five years, as well as the total debts of the undertaking covered by valuable security furnished by the undertaking, specifying the type and form of security
-
average number of employees during the financial year
-
where, in accordance with the regulations, the undertaking capitalised on the cost of salaries in part or in full, information on the amount of the total cost of employees during the year broken down into the amount directly debiting the costs of the period and the amount capitalised on the value of the 8. where a provision for deferred tax is recognised in the balance sheet, the deferred tax balances at the end of the financial year, and the movement in those balances during the financial year
-
the name and registered office of each of the undertakings in which the undertaking, either itself or through a person acting in their own name but on the undertaking's behalf, holds a participating interest, showing the proportion of the capital held, the amount of capital and reserves, and the profit or loss for the latest financial year of the undertaking concerned for which financial statements have been adopted; the information concerning capital and reserves and the profit or loss may be omitted where the undertaking concerned does not publish its balance sheet and is not controlled by another
-
the number and the nominal value or, in the absence of a nominal value, the accounting par value of the shares subscribed during the financial year within the limits of the authorised capital
-
the existence of any participation certificates, convertible debentures, warrants, options or similar securities or rights, with an indication of their number and the rights they confer 12. the name, registered office and legal form of each of the undertakings of which the undertaking is a member having unlimited liability
-
the name and registered office of the undertaking which draws up the consolidated financial statements of the largest group of undertakings of which the undertaking forms part as a controlled group member 14. the name and registered office of the undertaking which draws up the consolidated financial statements of the smallest group of undertakings of which the undertaking forms part as a controlled group member and which is also included in the group of undertakings referred to in point 13
-
the place where copies of the consolidated financial statements referred to in points 13 and 14 may be obtained, provided that they are available
Name of the issuer: Granolio d.d.
Personal identification number (OIB): 59064993527
Reporting period: 4. quarter
a) The financial statements have been prepared on the historical cost basis, except where stated otherwise.
The financial statements have been prepared on the going concern basis and require the use of estimates and judgments in applying accounting policies.
The financial statements are prepared in consistence with comparative information.
All significant accounting policies applied in the preparation of the financial statements have been disclosed in the audited annual financial statements.
The condensed financial statements have been prepared in accordance with International Accounting Standard 34 – Interim Financial Reporting. The condensed financial statements do not contain all the information and disclosures required for the annual financial statements and should be read together with the latest published annual financial statements available on the Issuer's website www.granolio.hr.
b) The notes to the financial statements are provided with the audited annual financial statements of the Group. The audited annual financial statements are available on the website www.granolio.hr.
c) The same accounting policies and methods are applied in preparing the financial statements for the quarterly reporting period as in the latest annual financial statements.
d) The Group does not perform activities of a seasonal nature.
e) Other disclosures required under IAS 34 – Interim Financial Reporting are as follows:
Interest receivable on loans given within the group are stated within the item receivables from undertakings within the group and as at 31 December 2025 amount to EUR 658 thousand (31.12.2024.: EUR 649 thousand).
f) In addition to the above information, the following information is disclosed in the notes to the quarterly financial statements: Staff costs in the Jan - Dec 2025 period amount to EUR 11,276 thousand (Jan - Dec 2024: EUR 8,666 thousand), of which net salaries amount to EUR 7,176 thousand (Jan - Dec 2024: EUR 5,708 thousand), taxes and contributions from salaries amount to EUR 6,702 thousand (Jan - Dec 2024: EUR 1,882 thousand) and contributions on salaries amount to EUR 1,398 thousand (Jan - Dec 2024: EUR 1,076 thousand).
- Name of the Issuer: Granolio d.d., Ulica Pere Budmanija 5, 10 000 Zagreb.
Legal form: joint-stock company Country of registration: Republic of Croatia
Entity's registration number (MBS): 08011595
Personal identification number (OIB): 59064993527
-
During 2025, accounting policies did not change.
-
The Granolio Group has not given any guarantees nor is it a co-debtor to third parties in financial obligations.
-
There was no revenue nor expenditure of extraordinary size or occurrence.
-
Liabilities maturing after more than five years relates to loans received from banks in amount EUR 2.088.
-
Average number of employees during the current period: 530 (1-12 2024: 496).
-
The Company did not capitalize the cost of salaries in the business year.
-
Balance of deferred tax assets as at 31 December 2025 amounts to EUR 1,058 thousand. During 2025 deferred tax assets have decreased by EUR 88 thousand.
-
Granolio d.d. holds a participating interest in: i)Zdenačka farma d.o.o.,Mate Lovraka 118/b, Veliki Zdenci, OIB 35460243768, on 31.12.2025. Share in Equity is EUR 2.553 thousand. Total equity is EUR 3.746 thousant. Result for the period is EUR 232 thousand. ii)Zdenka-mliječni proizvodi d.o.o.,Trg kralja Tomislava 15, Veliki Zdenci, OIB 45651553790, on 31.12.2025. Share in Equity is EUR 3.414 thousand. Total equity is EUR 4.428 thousand. Result for the period is EUR 409 thousand.
-
The company had no subscription of shares.
-
The company has no certificates. 12. The company holds 100% of the company Zdenačka farma d.o.o., Veliki Zdenci, Mate Lovraka 118 / b, OIB 35460243768.
-
The company is the ultimate parent and is not a controlled member of another group.
-
The company is the parent company and there are no other companies in its group that have control over third companies.
-
The company prepares quarterly non-consolidated and consolidated financial statements which are published on the Zagreb Stock Exchange, Hanfa and the company's website www.granolio.hr.
-
The Company has no material arrangements with companies that are not included in the presented unconsolidated financial statements.
-
There were no significant events after the balance sheet date.
{16}------------------------------------------------
Notes to the consolidated report for the twelve months period ended
31 December 2025
{17}------------------------------------------------
1. The company that is the subject of reporting
GRANOLIO d.d. ("The Company") is a joint-stock company registered with the Commercial Court of Zagreb, Croatia.
The Company's tax number (OIB) is 59064993527, and its registration number (MBS) 080111595.
The Company's headquarter is located in Zagreb at Budmanijeva 5.
The Company has General Assembly, Supervisory Board and Management Board.
2. Basis of preparation of financial statements and significant accounting policies
The same accounting policies are applied when preparing the financial statements for previous periods as in the last quarterly financial report.
3. Financial liabilities, guarantees or contingencies not included in the balance sheet
Guarantees and co-debts on loans were given to members of the group Zdenka-mliječni proizvodi d.o.o. in the amount of EUR 2.380.665.
4. The amount and nature of individual items of income or expense of exceptional size or occurrence
There was no revenue or expenditure of extraordinary size or occurrence.
5. Liabilities maturing after more than five years and debts covered by valuables insurance provided by the Company
Loans and leasings received 000 EUR
| Maturity | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| 31 December 2024 |
31 December 2025 |
31.12.2026 | 31.12.2027 | 31.12.2028 | 31.12.2029 | from 2030 |
|||
| Loans received from banks | 9.855 | 1.342 | 1.607 | 1.607 | 1.706 | 1.507 | 4.400 | ||
| Loans received from third parties |
4.019 | 3.754 | 265 | - | - | - | - | ||
| Leaising | 53 | 35 | 18 | - | - | - | - | ||
| 13.927 | 5.131 | 1.890 | 1.607 | 1.706 | 1.507 | 4.400 |
Loans received from banks are secured by mortgage on asset, bills of exchange and promissory notes
{18}------------------------------------------------
Liabilities for securities 000 EUR
| Maturity | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| 31 December 2024 |
31 December 2025 |
31.12.2026 | 31.12.2027 | 31.12.2028 | 31.12.2029 | from 2030 |
|||
| Liabilities for securities | 665 | 166 | 166 | 166 | 166 | - | - | ||
| 665 | 166 | 166 | 166 | 166 | - | - |
Liabilities under securities are secured by bills of exchange and promissory notes
6. Average number of employees during the business year
Average number of employees on hourly basis during 2025. year was: 463 (in the twelve-month period of 2024: 450 employees).
7. Capitalized salary cost during the year
The Company did not capitalize the cost of salaries in the business year.
8. Deferred taxes
| 31 December 2025 | |
|---|---|
| Balance 1 January 2025 | 1.156 |
| Decrease | (88) |
| Balance 31 Dec 2025 | 1.068 |
- Name and registered office of each company in which the issuer, either alone or through a person acting in its own name but on behalf of the issuer, holds a participating interest, stating the amount of capital held, the amount of total capital and reserves, and profit or loss
Zdenačka farma d.o.o.,Mate Lovraka 118/b, Veliki Zdenci, OIB 35460243768
Zdenka-mliječni proizvodi d.o.o.,Trg kralja Tomislava 15, Veliki Zdenci, OIB 45651553790
Investments as at 31 December 2025 EUR '000
| Share in Equity | Total Equity | Result for the period |
|
|---|---|---|---|
| ZDENAČKA FARMA d.o.o. | 2.553 | 3.746 | 232 |
| ZDENKA -MLIJEČNI PROIZVODI d.o.o. | 3.414 | 4.428 | 409 |
{19}------------------------------------------------
- Number and nominal value of shares subscribed during the business year within the authorized capital
The company had no subscription of shares.
- Existence of any certificates of participation, convertible debentures, guarantees, options or similar securities or rights, indicating their number and the rights conferring The Group has no certificates of participation, convertible debentures, guarantees, options or the like securities or rights.
The company has no certificates.
.
- Name, registered office and legal form of each company in which the issuer has unlimited liability The Group has no stake in companies with unlimited liability.
The company holds 100% of the company Zdenačka farma d.o.o., Veliki Zdenci, Mate Lovraka 118 / b, OIB 35460243768
- Name and registered office of the company compiling the quarterly consolidated financial statements of the largest group of companies in which the issuer participates as a controlled member of the group The company is the ultimate parent and is not a controlled member of another group.
Granolio d.d., Budmanijeva 5, Zagreb.
The company is the ultimate parent and is not a controlled member of the other group.
- Name and registered office of the company compiling the annual consolidated financial statements of the smallest group of companies in which the issuer participates as a controlled member and which is also included in the group of companies referred to in point 13.
The company is the parent company and there are no other companies in its group that have control over third companies.
- The place where copies of the quarterly consolidated financial statements referred to in points 13 and 14 can be obtained.
The company prepares quarterly non-consolidated and consolidated financial statements which are published on the Zagreb Stock Exchange, Hanfia and the company's website www.granolio.hr.
- Nature and business purpose of arrangements of companies not included in the balance sheet and financial impact of those arrangements on the issuer, provided that the risks or
{20}------------------------------------------------
rewards of such arrangements are material and to the extent that disclosure of such risks or rewards is necessary to assess the issuer's financial condition
The Company has no material arrangements with companies that are not included in the presented unconsolidated financial statements.
- Nature and financial impact of significant events that occurred after the balance sheet date and were not reflected in the income statement or balance sheet
There were no significant events after the balance sheet date.
{21}------------------------------------------------
Granolio d.d.
Ulica Pere Budmanija 5, HR-10000 Zagreb, tel: +385 1 6320 200, faks: +385 1 6320 222, e-mail: [email protected], www.granolio.hr
Zagreb, 27 February 2026
Statement of Executives responsible for preparing financial statements for the twelve months period
Pursuant to the current Croatian Accounting Act (Official Gazzette 109/07), the Management Board is required to ensure that the financial statements of Granolio d.d. for each financial period are prepared in accordance with the International Financial Reporting Standards (IFRS), issued by the International Accounting Standards Board (IASB) and that they give a true and fair view of the financial position and results of the Company's operations in the given period.
To the best of our knowledge, the complete shorten set of unaudited financial statements for the twelve months period give a true presentation of the Company's position as at 31 December 2025.
Reports prepared by:
Mirjana Kelava
Accounting Director
{22}------------------------------------------------
Granolio d d Ulica Pere Budmanija 5, HR-10000 Zagreb, tel: +385 1 6320 200, faks: +385 1 6320 222, e-mail: [email protected], www.granolio.hr
Zagreb, 27 February 2026
Pursuant to the article 407. to 410. of the Capital market Law (Official Gazette 88/08, 146/08 and 74/09) the President of the Management Board of the Company Granolio d.d., Budmanijeva 5, Zagreb provides:
MANAGEMENT BOARD'S STATEMENT OF LIABILITY
The separate and consolidated financial statements of Granolio d.d. have been prepared pursuant to the International Financial Reporting Standards (IFRS) and Croatian Accounting Law.
The non-consolidated and consolidated financial statements for the period from 1 January 2025 till 31 December 2025 present complete and fair view of assets and liabilities, profit and loss, financial position and operations of the Company.
The management report for the twelve months period ended 31 December 2025 presents true and fair presentation of development and results of the Company's operations with description of significant risks and uncertainties the Company is facing.
President of the Management Board Hrvoje Filipović
Contact: Granolio d.d. Budmanijeva 5 10 000 Zagreb Hrvatska
Tel: +385 1 6320 200
