Institut IGH d.d. — Interim / Quarterly Report 2020

Aug 31, 2020

INSTITUTE OF CONSTRUCTIVE SOLUTIONS

Zagreb, August 31, 2020

Statement of the Management Board on the responsibility for preparing financial reports for Subject: Institut IGH, JSC

The Company's Management Board has to ensure that the INSTITUT IGH d.d. unaudited financial reports for the accounting period from January to June 2020 are prepared in accordance with the Accountancy Law (Official Gazette 78/15, 133/15, 120/16) and International Reporting Standards as adopted by the European Union, so that these documents provide a true and unbiased picture of the Company's financial standing, business results, change in capital, and cash flow for the period under consideration.

After making due enquiries, the Management Board has a reasonable expectation that the Company has adequate resources to continue operation in the foreseeable future. Accordingly, the Management Board has prepared its financial reports under assumption that the Company will continue to operate for an unlimited period of time.

During preparation of financial reports, the Management Board is responsible:

• · for the selection and, thereafter, for consistent use of appropriate accounting policies;
• · for giving reasonable and sensible assessments and estimates;
• · for applying valid financial reporting standards and for making public and explaining every materially significant discrepancy discovered in financial reports;
• · for preparing financial reports under assumption of an unlimited period of operation, except in cases when such assumption is inappropriate.

The Management Board is responsible for keeping proper accountancy records that will depict, to an acceptable level of accuracy, the financial standing and business results of the Company, in full compliance with the Accountancy Law and International Financial Reporting Standards issued by the International Accounting Standards Board (IASB). The Management Board is also responsible for protecting and safeguarding the Company's assets, and hence for undertaking every measure it deems necessary to prevent and discover cases of fraud and other illegal activity.

Signed on the behalf of the Management Board:

Vedrana Tudor

2: 1. 11

INSTITITE OF CONSTRUCTIVE SOLUTIONS

Zagreb, August 28, 2020

Subject: Management Report on business results of the Company Institut IGH d.d. and its subsidiaries in the period from January 1 to June 30 2020.

Institut IGH d.d.

In the period from January to June 2020, Institut IGH d.d operated with revenue amounting to HRK 118.9 million. Operating expenses (excluding amortization) amount to HRK 97.03 million, which resulted in EBITDA of HRK 21.8 million which is a 79% increase in comparison to the same period last year. Realized revenues were higher compared to the same period of the previous year, which resulted in higher EBITDA than in the same period of the previous year.

After the amortization cost in the amount of HRK 3,9 million HRK, negative effect of interest and exchange rate differences in the amount of HRK 17.6 million HRK, Institut IGH d.d operated at a net profit amounting HRK 1,1 million.

During the period under review, the activities of business development as well as offering were reduced. The reason can be found in effects of COVID-19 virus resulting in HRK 25.8 million less worth of new contracts in the subject period from January 1 to June 20 2020, which is 20,5% less compared to the same period of the previous year.

The state of ratio of contract per employee is stable with a tendency to increase, which, with efficiency, expected intensified dynamics of tendering and contracting after a reduction in the consequences of COVID virus, gives us the confidence that the positive trends of operating profit will continue

IGH Group

In the period from January to June 2020, IGH Group operated at a revenue amounting to HRK 123 million. Operating expenses (excluding amortization) amount to HRK 100,2 million, this resulted in an EBITDA of HRK 22.8 million.

After the amortization cost in the amount of HRK 4.2 million, negative effect of interest and exchange rate differences in the amount of HRK 17.6 million, IGH Group operated at a net profit amounting HRK 1.8 million.

ATTATI POLAN

Institut IGH will continue with its increased activities in the next period, according to the strategic development plan for the period up to year 2024, increasing productivity and efficiency in implementation of projects on which it has been engaged, strengthening human resources and extending business activities on the international markets in order to spread risk and achieve longterm, sustainable and profitable business operations.

On behalf of the INSTITUT IGH, d.d. Management Board;

Robert Petrosian alle Director O

Miroslav Pauzar

Vedrana Tudor

	ISSUER'S GENERAL DATA
Reporting period:	1.1.2020 30.6.2020 to
Year:	2020
Quarter:	2.
	Quarterly financial statements
	Issuer's home Member
egistration number (MB): 03750272	HR State code:
Entity's registration 80000959 number (MBS):
Personal identification 79766124714 number (OIB):	LEI: 74780000W0UQ8MF2FU71
Institution 1461 code:
Name of the issuer: INSTITUT IGH D.D.
Postcode and town: 10000	ZAGREB
treet and house number: JANKA RAKUŠE 1
E-mail address: igh@igh.hr
Web address: http://www.igh.hr
Number of employees 571 (end of the reporting
Consolidated report: KN	(KN-not consolidated/KD-consolidated)
Audited: RN	(RN-not audited/RD-audited)
Names of subsidiaries (according to IFRS):	Registered office: MB:
Bookkeeping firm: No No No (Yes/No)	(name of the bookkeeping firm)
Contact person: Larisa Lukšić	(only name and surname of the contact person)
Telephone: 091/344 4722
E-mail address: larisa.lukšić
Audit firm:
(name of the audit firm) Certified auditor:

---

BALANCE SHEET balance as at 30.06.2020.

in HRK Submitter: INSTITUT IGH D.D.
Item	ADP code	Last day of the preceding business vear	At the reporting date of the current period
5	2	3	4
A) RECEIVABLES FOR SUBSCRIBED CAPITAL UNPAID	001	0
B) FIXED ASSETS (ADP 003+010+020+031+036)	002	253.556.268	0 214.826.640
I INTANGIBLE ASSETS (ADP 004 to 009)	003	983.873	516.512
1 Research and development	004	0	0
2 Concessions, patents, licences, trademarks, software and other	005	947.622	481.895
rights 3 Goodwill
4 Advances for the purchase of intangible assets	006	0 0	0
5 Intangible assets in preparation	007 008	36.251	0 34.617
6 Other intangible assets	009	0	0
II TANGIBLE ASSETS (ADP 011 to 019)	010	139.839.283	110.449.109
1 Land	011	52.201.020	27.352.677
2 Buildings	012	44.454.377	40.713.032
3 Plant and equipment	013	16.018.418	15.207.538
4 Tools, working inventory and transportation assets 5 Biological assets	014 015	4.357.137	4.041.186
6 Advances for the purchase of tangible assets	016	0 466.947	0 569.595
7 Tangible assets in preparation	017	21.688.746	21.912.444
8 Other tangible assets	018	304.281	304.280
9 Investment property	019	348.357	348.357
III FIXED FINANCIAL ASSETS (ADP 021 to 030)	020	111.671.142	102.873.275
1 Investments in holdings (shares) of undertakings within the group	021	92.967.865	84.164.674
2 Investments in other securities of undertakings within the group	022	0
3 Loans, deposits, etc. to undertakings within the group 4. Investments in holdings (shares) of companies linked by virtue of	023	3.199.645	3.199.644
participating interests 5 Investment in other securities of companies linked by virtue of	024	15.000.000	15.000.000
participating interests 6 Loans, deposits etc. to companies linked by virtue of participating	025	0	0
interests	026	0	0
7 Investments in securities	027	0	0
8 Loans, deposits, etc. given	028	503.632	508.957
9 Other investments accounted for using the equity method	029	0	0
10 Other fixed financial assets	030	0	0
IV RECEIVABLES (ADP 032 to 035) 1 Receivables from undertakings within the group	031 032	1.061.970 0	987.744 0
2 Receivables from companies linked by virtue of participating interests	033	O	0
3 Customer receivables	034	1.061.970	987.744
4 Other receivables	035	0	0
V DEFERRED TAX ASSETS	036	0	0
C) CURRENT ASSETS (ADP 038+046+053+063)	037	155.075.606	157.010.802
I INVENTORIES (ADP 039 to 045)	038	82.425.049	82.425.047
1 Raw materials and consumables	039	0	0
2 Work in progress 3 Finished goods	040 041	247.493 0	247.493
4 Merchandise	042	568.162	0 568.161
5 Advances for inventories	043	0	0
6 Fixed assets held for sale	044	81.609.394	81.609.393
7 Biological assets	045	0	0
II RECEIVABLES (ADP 047 to 052)	046	42.503.652	43.763.431
1 Receivables from undertakings within the group	047	1.362.854	1.740.005
2 Receivables from companies linked by virtue of participating interests.	048	0	2.824
3 Customer receivables	049	36.700.868	35.799.713
4 Receivables from employees and members of the undertaking 5 Receivables from government and other institutions	050 051	864.783 1.018.488	852.847
6 Other receivables	052	2.556.659	2.920.926 2.447.116
III CURRENT FINANCIAL ASSETS (ADP 054 to 062)	053	19.003.375	21.740.039
1 Investments in holdings (shares) of undertakings within the group	054	O	0
2 Investments in other securities of undertakings within the group	055	0	0
3 Loans, deposits, etc. to undertakings within the group	056	506.771	507.771
4 Investments in holdings (shares) of companies linked by virtue of participating interests	057	0	0
5 Investment in other securities of companies linked by virtue of participating interests	058	0	0
6 Loans, deposits etc. to companies linked by virtue of participating interests	059	0	0
7 Investments in securities	060	0	0
8 Loans, deposits, etc. given	061	18.496.604	21.232.268
9 Other financial assets	062	0	0
IV CASH AT BANK AND IN HAND D ) PREPAID EXPENSES AND ACCRUED INCOME	063 064	11.143.530 17.158.232	9.082.285 24.183.512
E) TOTAL ASSETS (ADP 001+002+037+064)	065	425.790.106	396.020.954
OFF-BALANCE SHEET ITEMS	066	42.606.581	42.592.526

LIABILITIES
A) CAPITAL AND RESERVES (ADP 068 to	067	-42.307.311	-41.658.556
I INITIAL (SUBSCRIBED) CAPITAL	068	116.604.710	116.604.710
II CAPITAL RESERVES	069	-255.383	-255.383
III RESERVES FROM PROFIT (ADP 071+072-073+074+075)	070	-795.705	-795.705
1 Legal reserves	071	0	0
2 Reserves for treasury shares	072	1.446.309	1.446.309
3 Treasury shares and holdings (deductible item)	073	-3.196.416	-3.196.416
4 Statutory reserves	074	0	0
5 Other reserves	075	954.402	954.402
IV REVALUATION RESERVES	076	91.445.206	87.368.780
V FAIR VALUE RESERVES (ADP 078 to 080)	077	0	0
1 Fair value of financial assets available for sale	078	0	0
2 Cash flow hedge - effective portion	079	0	0
3 Hedge of a net investment in a foreign operation - effective portion	080	0	0
VI RETAINED PROFIT OR LOSS BROUGHT FORWARD (ADP 082- 083)	081	-265.971.297	-245.740.476
1 Retained profit	082	29.142.120	33.218.545
2 Loss brought forward	083	295.113.417	278.959.021
VII PROFIT OR LOSS FOR THE BUSINESS YEAR (ADP 085-086)	084	16.665.158	1.159.518
1 Profit for the business year	085	16.665.158	1.159.518
2 Loss for the business year	086	0	0
VIII MINORITY (NON-CONTROLLING) INTEREST	087	0	0
B) PROVISIONS (ADP 089 to 094)	088	2.232.826	2.232.827
1 Provisions for pensions, termination benefits and similar obligations	089	505.988	505.988
2 Provisions for tax liabilities	090	0	0
3 Provisions for ongoing legal cases	091	1.726.838	1.726.839
4 Provisions for renewal of natural resources	092	0	0
5 Provisions for warranty obligations	093	0	0
6 Other provisions	094	0	0
C) LONG-TERM LIABILITIES (ADP 096 to 106)	095	68.503.396	60.565.146
1 Liabilities to undertakings within the group	096	0	0
2 Liabilities for loans, deposits, etc. of undertakings within the group	097	0	0
3 Liabilities to companies linked by virtue of participating interests	098	0	0
4 Liabilities for loans, deposits etc. of companies linked by virtue of participating interests	099	0	0
5 Liabilities for loans, deposits etc.	100	497.127	497.127
6 Liabilities to banks and other financial institutions	101	48.209.430	41.166.005
7 Liabilities for advance payments	102	0	0
8 Liabilities to suppliers	103	197.924	197.924
9 Liabilities for securities	104	0	0
10 Other long-term liabilities	105	0	0
11 Deferred tax liability	106	19.598.915	18.704.090
D) SHORT-TERM LIABILITIES (ADP 108 to 121)	107	343.792.367	316.357.350
1 Liabilities to undertakings within the group	108	313.220	166.873
2 Liabilities for loans, deposits, etc. of undertakings within the group	109	1.158.333	1.158.332
3 Liabilities to companies linked by virtue of participating interests	110	314.428	0
4 Liabilities for loans, deposits etc. of companies linked by virtue of
participating interests	111	0	0
5 Liabilities for loans, deposits etc.	112	1.200.232	1.239.748
6 Liabilities to banks and other financial institutions	113	216.796.826	215.169.930
7 Liabilities for advance payments	114	3.713.961	3.892.789
8 Liabilities to suppliers	115	26.566.353	17.994.180
9 Liabilities for securities	116	70.973.241	46.964.288
10 Liabilities to employees	117	6.008.032	5.379.192
11 Taxes, contributions and similar liabilities	118	7.830.940	15.027.566
12 Liabilities arising from the share in the result	119	0	0
13 Liabilities arising from fixed assets held for sale	120	0	0
14 Other short-term liabilities	121	8.916.801	9.364.452
E) ACCRUALS AND DEFERRED INCOME	122	53.568.828	58.524.187
F) TOTAL - LIABILITIES (ADP 067+088+095+107+122)	123	425.790.106	396.020.954
G) OFF-BALANCE SHEET ITEMS	124	42.606.581	42.592.526

STATEMENT OF PROFIT OR LOSS

for the period 01.01.2020. to 30.06.2020.

Item	ADP	Same period of the previous year		Current period
	code	Cumulative	Quarter	Cumulative	Quarter
1	2	8	4	5	6
OPERATING INCOME (ADP 126 to 130) 1 Income from sales with undertakings within the group	125 126	88.133.052 149.600	50.518.089 92.600	118.905.509	67.943.980
2 Income from sales (outside group)	127	83.626.506	46.812.197	710.114 79.034.900	219.557 39.320.766
3 Income from the use of own products, goods and services	128	135.347	80.670	121.469	62.043
4 Other operating income with undertakings within the group	129	32.296	10.883	10.473	5.274
5 Other operating income (outside the group)	130	4.189.303	3.521.739	39.028.553	28.336.340
II OPERATING EXPENSES (ADP 132+133+137+141+142+143+146+153	131	75.158.425	39.727.677	101.008.268	63.010.376
1 Changes in inventories of work in progress and finished goods	132
2 Material costs (ADP 134 to 136)	133	O 23.941.717	0 13.697.780	0 21.739.491	0
a) Costs of raw materials and consumables	134	4.036.403	2.082.365	3.156.013	9.805.758 1.368.052
b) Costs of goods sold	135	0	0	0	O
c) Other external costs	136	19.905.314	11.615.415	18.583.478	8.437.706
3 Staff costs (ADP 138 to 140)	137	38.855.153	19.548.379	41.559.608	20.805.750
a) Net salaries and wages	138	24.631.199	11.606.007	25.869.502	13.091.919
b) Tax and contributions from salary costs	139	9.652.553	5.622.566	10.456.466	5.126.576
c) Contributions on salaries	140	4.571.401	2.319.806	5.233.640	2.587.255
4 Depreciation 5 Other costs	141	4.308.063	2.153.240	3.971.872	1.926.710
6 Value adjustments (ADP 144+145)	142 143	6.297.041	3.501.657	5.806.522	2.818.325
a) fixed assets other than financial assets	144	1.415.976 0	589.167 0	784.060 0	556.731
b) current assets other than financial assets	145	1.415.976	589.167	784.060	0 556.731
7 Provisions (ADP 147 to 152)	146	0	0	0	0
a) Provisions for pensions, termination benefits and similar obligations	147	0	0	0	0
b) Provisions for tax liabilities	148	0	0	0	0
c) Provisions for ongoing legal cases	149	0	0	0	0
d) Provisions for renewal of natural resources	150	0	0	0	0
e) Provisions for warranty obligations	151	0	0	0	0
f) Other provisions	152	0	0	0	0
8 Other operating expenses III FINANCIAL INCOME (ADP 155 to 164)	153	340.475	237.454	27.146.715	27.097.102
1 Income from investments in holdings (shares) of undertakings within	154	2.162.428	1.886.265	3.211.233	2.570.439
the group	155	0	0	0	0
2 Income from investments in holdings (shares) of companies linked by	156	0	0	0
virtue of participating interests					0
3 Income from other long-term financial investment and loans granted	157	0	0	0	0
to undertakings within the group 4 Other interest income from operations with undertakings within the
group	158	0	0	0	0
5 Exchange rate differences and other financial income from operations
with undertakings within the group	159	3	0	141.053	141.053
6 Income from other long-term financial investments and loans	160	0	0	0	0
7 Other interest income	161	33.562	4.459	8.176	3.650
8 Exchange rate differences and other financial income	162	2.128.863	1.881.806	3.062.004	2.425.736
9 Unrealised gains (income) from financial assets 10 Other financial income	163	O	0	0	0
IV FINANCIAL EXPENSES (ADP 166 to 172)	164 165	0 7.024.291	0 3.258.953	0	0
1 Interest expenses and similar expenses with undertakings within the				20.843.778	10.954.134
group	166	0	0	0	0
2 Exchange rate differences and other expenses from operations with	167	387.680	387.680
undertakings within the group				0	-1.693
3 Interest expenses and similar expenses	168	5.429.482	2.578.881	6.388.775	5.865.378
4 Exchange rate differences and other expenses 5 Unrealised losses (expenses) from financial assets	169	1.198.306	288.712	0	0
6 Value adjustments of financial assets (net)	170 171	0 0	0	0	0
7 Other financial expenses	172	8.823	O 3.680	5.090.449 9.364.554	5.090.449
SHARE IN PROFIT FROM UNDERTAKINGS LINKED BY VRITUE					0
OF PARTICIPATING INTERESTS	173	0	0	0	0
VI SHARE IN PROFIT FROM JOINT VENTURES	174	0	0	0	0
VII SHARE IN LOSS OF COMPANIES LINKED BY VIRTUE OF PARTICIPATING INTEREST	175	0	0	0	0
VIII SHARE IN LOSS OF JOINT VENTURES	176	0	0
IX TOTAL INCOME (ADP 125+154+173 + 174)	9777	90.295.480	52.404.354	0 122.116.742	0 70.514.419
TOTAL EXPENDITURE (ADP 131+165+175 + 176)	178	82.182.716	42.986.630	121.852.046	73.964.510
XI PRE-TAX PROFIT OR LOSS (ADP 177-178)	179	8.112.764	9.417.724	264.696	-3.450.091
1 Pre-tax profit (ADP 177-178)	180	8.112.764	9.417.724	264.696
2 Pre-tax loss (ADP 178-177)	181	0	0	0	-3.450.091
XII INCOME TAX	182	0	0	-894.823
XIII PROFIT OR LOSS FOR THE PERIOD (ADP 179-182)	183	8.112.764	9.417.724	1.159.519	-3.450.091
1 Profit for the period (ADP 179-182)	184	8.112.764	9.417.724	1.159.519
2 Loss for the period (ADP 182-179) DISCONTINUED OPERATIONS (to be filled in by undertakings subject to IFRS only with discontinued operations)	185	0	0	0	-3.450.091

in HRK

XIV PRE-TAX PROFIT OR LOSS OF DISCONTINUED OPERATIONS (ADP 187-188)	186	0	0	0	0
1 Pre-tax profit from discontinued operations	187	0	0	0	0
2 Pre-tax loss on discontinued operations	188	0	0	0	0
XV INCOME TAX OF DISCONTINUED OPERATIONS	189	0	0	0
1 Discontinued operations profit for the period (ADP 186-189)	190	0	0	0	0 0
2 Discontinued operations loss for the period (ADP 189-186)	191	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 179+186)	192
1 Pre-tax profit (ADP 192)	193	0	0	0	0
2 Pre-tax loss (ADP 192)	194	0	0	0	0
XVII INCOME TAX (ADP 182+189)	195	0	0	0	0
XVIII PROFIT OR LOSS FOR THE PERIOD (ADP 192-195)	196	0	0	0	0
1 Profit for the period (ADP 192-195)	197	0	0	0	0
2 Loss for the period (ADP 195-192)	198	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 200+201)	199	0	0	0	0
1 Attributable to owners of the parent	200	0	0	0	0
2 Attributable to minority (non-controlling) interest	201	0	0	0	0
STATEMENT OF OTHER COMPRHENSIVE INCOME (to be filled in by undertakings subject to IFRS)
I PROFIT OR LOSS FOR THE PERIOD	202	8.112.764	9.417.724	264.695	-3.450.089
II OTHER COMPREHENSIVE INCOME/LOSS BEFORE TAX (ADP 204 to 211)	203	-6.010	-6.010	-4.076.426	-99.391
1 Exchange rate differences from translation of foreign operations	204	0	0	0	O
2 Changes in revaluation reserves of fixed tangible and intangible
assets	205	-6.010	-6.010	-4.076.426	-99.391
3 Profit or loss arising from subsequent measurement of financial assets available for sale	206	0	0	0	0
4 Profit or loss arising from effective cash flow hedging	207	0	0	0	0
5 Profit or loss arising from effective hedge of a net investment in a foreign operation	208	0	0	0	O
6 Share in other comprehensive income/loss of companies linked by virtue of participating interests	209	0	0	0	0
7 Actuarial gains/losses on the defined benefit obligation	210	0	0	0	0
8 Other changes in equity unrelated to owners	211	0	0	0	0
III TAX ON OTHER COMPREHENSIVE INCOME FOR THE PERIOD	212	0	0	0	0
IV NET OTHER COMPREHENSIVE INCOME OR LOSS (ADP 203-212)	213	-6.010	-6.010	-4.076.426	-99.391
V COMPREHENSIVE INCOME OR LOSS FOR THE PERIOD (ADP 202+213)	214	8.106.754	9.411.714	-3.811.731	-3.549.480
APPENDIX to the Statement on comprehensive in be filled in by undertakings that draw up consolidated statements)
VI COMPREHENSIVE INCOME OR LOSS FOR THE PERIOD (ADP 216+217)	215	0	0	0	0
1 Attributable to owners of the parent	216	0	0	0	0
2 Attributable to minority (non-controlling) interest	217	0	0	0	0

STATEMENT OF CASH FLOWS - indirect method for the period 01.01.2020. to 30.06.2020.

in HRK

Submitter: INSTITUT IGH 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	8.112.764	264.696
2 Adjustments (ADP 003 to 010):	002	-4.439.857	6.450.259
a) Depreciation	003	4.308.063	3.971.872
b) Gains and losses from sale and value adjustment of fixed tangible and intangible assets	004	0	396.000
c) Gains and losses from sale and unrealised gains and losses and value adjustment of financial assets	005	1.415.976	784.061
d) Interest and dividend income	006	0	C
e) Interest expenses	007	5.429.482	6.388.775
f) Provisions	008	0	0
g) Exchange rate differences (unrealised) h) Other adjustments for non-cash transactions and unrealised gains and	009	-542.877	C
losses	010	-15.050.501	-5.090.449
I Cash flow increase or decrease before changes in working capital (ADP 001+002)	011	3.672.907	6.714.955
3 Changes in the working capital (ADP 013 to 016)	012	-6.604.501	-7.312.389
a) Increase or decrease in short-term liabilities	013	239.094	-8.572.172
b) Increase or decrease in short-term receivables	014	-6.843.595	1.259.783
c) Increase or decrease in inventories	015	0	0
d) Other increase or decrease in working capital	016	0	0
Il Cash from operations (ADP 011+012) 4 Interest paid	017	-2.931.594	-597.434
5 Income tax paid	018 019	0 0	0 0
A) NET CASH FLOW FROM OPERATING ACTIVITIES (ADP 017 to 019)	020	-2.931.594	-597.434
Cash flow from investment activities
1 Cash receipts from sales of fixed tangible and intangible assets	021	666.531	0
2 Cash receipts from sales of financial instruments	022	0	0
3 Interest received	023	0	0
4 Dividends received	024	0	0
5 Cash receipts from repayment of loans and deposits	025	0	0
6 Other cash receipts from investment activities	026	0	0
Ill Total cash receipts from investment activities (ADP 021 to 026)	027	666.531	0
1 Cash payments for the purchase of fixed tangible and intangible assets	028	0	0
2 Cash payments for the acquisition of financial instruments	029	0	0
3 Cash payments for loans and deposits for the period	030	0	0
4 Acquisition of a subsidiary, net of cash acquired 5 Other cash payments from investment activities	031 032	0 0	0 0
IV Total cash payments from investment activities (ADP 028 to 032)	033	0	0
B) NET CASH FLOW FROM INVESTMENT ACTIVITIES (ADP 027 +033)
Cash flow from financing activities	034	666.531	0
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 financial instruments	036	0	0
3 Cash receipts from credit principals, loans and other borrowings	037	0
4 Other cash receipts from financing activities	038	0	0 0
V Total cash receipts from financing activities (ADP 035 to 038)
1 Cash payments for the repayment of credit principals, loans and other	039	0	0
borrowings and debt financial instruments	040	0	0
2 Cash payments for dividends	041	0	0
3 Cash payments for finance lease	042	0	0
4 Cash payments for the redemption of treasury shares and decrease in initial (subscribed) capital	043	0	0
5 Other cash payments from financing activities	044	0	-1.463.810
VI Total cash payments from financing activities (ADP 040 to 044)	045	0	-1.463.810
C) NET CASH FLOW FINANCING ACTIVITIES (ADP 039 +045)	046	0	-1.463.810
1 Unrealised exchange rate differences in respect of cash and cash equivalents	047	0	0
D) NET INCREASE OR DECREASE IN CASH FLOWS (ADP	048	-2.265.063
020+034+046+047) E) CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE			-2.061.244
PERIOD F) CASH AND CASH EQUIVALENTS AT THE END OF THE	049	5.872.688	11.143.530
PERIOD(ADP 048+049)	050	3.607.625	9.082.286

flem	র ম	In HBI Custom	Gapital reserves	Legat reserves		olo Rom ದ್ದಾತ		Other reserve	Rovaluation Toperven	available for sale Friday of The Of	Cash flow hedge - effective portion		Relaimed profit forward	a commercia		MICHO MO The
															16 (2 (0 6 )
revious period																	8 (16.47)
1 Balance on the first day of the previous business year 2 Changes in accounting policies 3 Correction of errors	01 02	116.604.710 0	0 -255.383	0000	1,446,309	3.196.416		1.346.600	114.638.755				-200.483.808 101	1.319.974	-58,579,259		-58.579.259
ିତ 4 Balance on the first day of the previous business year (restated) (ADP 01	03	0			010	0	0	0		0101	0000	0000	-13	0	10 1 -13.	000	101 -13.
03)	04	116.604.710	-255.383	0	1.446,309	3.196.416	0	1.346,600	114.638,755				-290,496,909	1.319.974	-58.592.360	0	68,592,360
5 Profit/loss of the period 6 Exchange rate differences from translation of foreign operations	05 06	000	0 0	0 0	000	0 0	00	10	0		000	000	0 0	16.665.158	16.665.158	0 10	16.666.
7 Changes in revaluation reserves of fixed tangible and intangible assets	07		9	0			0	0	-23.212.092				23.205 638	12/10	-6.454		-63
loc assots available Profit or loss arising from subsequent messurement of financial	80	9	0	0				0			0	9		0
cash flow hedge eflective from Profit or loss arising	09	0	0	0	0 000			0	0110			10
10 Profit or loss arising from effective hedge of a net investment in a foreign operation	10	0	0	ರ				9	0	9	0
income/loss of companies linked by virtue of 11 Share in other comprehensive participating interests	11	0	0	0							0
12 Actuarial gains/losses on the defined benefit obligation	12	0	0	0
13 Other changes in equity unrelated to owners 14 Tax on transactions recognised directly in equity	13 11	0	0 0		000000			00	18.543		0:00	000		0	18.543		18:543
reinvesting profit 15 Incr		0		0
15 Increase/decrease in initial (subscribed) capital (other than from rein	15	0		0	0			0
16 Increase in initial (subscribed) capital arising from the reinvestment of profit	16	0	0	ರ	0			0			0
17 Increase in initial (subscribed) capital arising from the pro-bankruptcy settlement procedure	17	0	0	0	0		0	0	0	0
18 Redemption of treasury shares/holdings	81	0									0	0
19 Payment of share in profit/dividend 20 Other distribution to owners	6 l		0	0 0	00000	00000		0 000	000		000000	00000
21 Transfer to reserves according to the annual schedule	ల్ల 17	000	0000	0 0										-1.319.974	-1.319.974		-1.319.974
22 Increase in resorves arising from the pro-bankruptcy settlement procedure 23 Balance on the last day of the previous business year reporting period (04 to	22			0	10			-392 198					1.319.974		927.776		927.776
	23	116.604,710	-255.383	0	1.446,309	3.196.416		954.402	91.445.206			0	-265.971.297	16.665,158	-42.307.311		-42.307.31
APPENDIX TO THE STATEMENT OF CHANGES IN EQUITY (to be filled in by ur	ngs	up financial sti draw	In accordan	with the IFRS)
I OTHER COMPREHENSIVE INCOME OF THE PREVIOUS PERIOD, NET OF TAX (ADP 06 to 14)	24	0	0	0	0			0	-23,193.649		0	0	23.205.638		12.089		12.08
II COMPREHENSIVE INCOME OR LOSS FOR THE PREVIOUS PERIOD (ADP 05+24)	25	0	0	0	0				-23.193.549		0	0	23.205.638	16,665,158	16.677.247		16.677.24
III TRANSACTIONS WITH OWNERS IN THE PREVIOUS PERIOD RECOGNISED DIRECTLY IN EQUITY (ADP 15 to 22)	26	0		0	0			-302.198			0	0	1.319,974	-1.319.974	-392.196		-392.
first day of the current business year Current period	si	1 16.604.7 10	-255 383	0	1.446,309	3.196.416		954,402	91,445,206
Balance on the first day of the	87	0 10		0	0	0					01010	000	-265.071.297	16.665.158	-42 307 311	00	-42.307.311
Correction of ecors	62		0	0	0	0							0
Balance on the first day of the current business year (restated) (ADP 27 to 29)	30	116.604.710	-265.383	0	1.446.309	3.196.416		054.402	91,445,206	0	0	0	-265,971,297	16.665,158	-42.307.31		-42.307.31
from translation of foroign operations 6 Exchange rate differences 5 Profit/loss of the period	31 ਟੀ	000000	0 0	0 0	0 0	010	00			0000	0 0	0 0	100	1.159.519	1.159.519		1.159.
reserves of fixed tangible and intangible assets 7 Changes in revaluation	33		0	0	0		10		4.076.426			0	4.076.426	110
assets available for measurement of financial subsequont 8 Profit or loss ansing from	স		0	0								0
effective cash flow hedge 9 Profit or loss arising from	35		্ত	0	6 10							0
10 Profit or loss arising from effective hedge of a net investment in a foreign operation
income/loss of companies linked by virtue of entstronsive 11 Share in other com	36	0		0	0					0000
	37		0	0	0
porticipating internats 12 Actuatial gains/losses on the defined benefit obligation 13 Othar changed in equily unrelated to owners 14 Tax on fransactions recognised directly	ಹ್ಯೆ Oc	0 000	00	0	000		000000			0 0000
from roinvesting profit cedure) If Increase/decrease in initial (subscribed) capital (other than from roing	40		0	0								0
	41	0	0	0	g							0
Increase in initial (subscribed) capital arising from the reinvestment of profit 16	42	0	0	0	0		0			0	0	0				0
in initial {subscribed} capital arising from the pre-bankruptcy settlement orocedure 17 Incr	43	0	0	0	0		0			0		0				110
18 Redemption of treasury shares/holdings 19 Payment of share in profit/dividend	44 45	000	000
20 Other distribution to owners	46			0000	00000		000000			000000		0000000		-1.319.974		00000000
21 Transfer to reserves according to the annual schedule 22 Increase in reserves arising from the pro-bankruptcy softlement procedure	47	0	0	0									1.319.974		1.319.97 1.319.97		-1,319.974 1,319.074
23 Balance on the last day of the current business year reporting period (ADP 30 to 48)	49	116.604.710	-255.383	0	1.446.309	3.196.416
APPENDIX TO THE STATEMENT OF CHANGES IN EQUITY (to be filled in by un- OTHER COMPREHENSIVE INCOME FOR THE CURRENT PERIOD, NET OF	takings that	draw up financial state	ments in accordance	with the IFRS)				954.402	87,368,780			0	-260,574,897	16,504,703	-41.147.792		-41:147.
TAX	50	0	0	0	0				-4,076,426				4,076,426
II comprehensive Income or Loss for The Current Period (adp (ADP 32 to 40)
31+50)	51	0	0	0	0				-4.076.426		0		4.076.426	1.159.519	1.159.519	0	1,159,519
III TRANSACTIONS WITH OWNERS IN THE CURRENT PERIOD RECOGNISED DIRECTLY IN EQUITY (ADP 41 to 48)	52	0											1.319,974	-1.319.974

STATEMENT OF CHANGES IN EQUITY

for the period from 1.1.2020 to to to to 30.6.2020