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

Aug 31, 2020

INSTITUTE OF CONSTRUCTIVE SOLUTIONS

Zagreb, Aug 31, 2020

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

The Company's Management Board has to ensure that the Group's unaudited consolidated 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 Financial Reporting Standards as adopted by the European Union, so that these documents provide a true and unbiased picture of the Group'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 Group has adequate resources to continue operation in the foreseeable future. Accordingly, the Group has prepared its financial reports under assumption that the Group will continue operating 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 Group, in full compliar, e 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 Group's assets, and hence for undertaking every measure it deems necessary to prevent and discaver cases of fraud and other illegal activity.

Signed on the behalf of the Management Board

Miroslav Pauzar

Vedrana Tudor

INSTITITE OF CONSTRUCTIVE SOLUTIONS

Zagreb, August 28, 2020

Subject: 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.

12-18-10-1000

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 Petrosial and Director O

Vedrana Tudor

Miroslav Pauzar

Annex 1
	ISSUER'S GENERAL DATA
Reporting period:	1.1.2020 30.6.2020 to
Year:	2020
Quarter:	2.
	Quarterly financial statements
egistration number (MB): 03750272	Issuer's home Member HR State code:
Entity's registration 80000959 number (MBS):
Personal identification 79766124714 number (OIB):	74780000W0UQ8MF2FU71 LEI:
Institution 1461 code:
Name of the issuer: INSTITUT IGH D.D.
Postcode and town: 10000	ZAGREB
treet and house number: JANKA RAKUSE 1
E-mail address: igh@igh.hr
Web address: http://www.igh.hr
Number of employees 580 (end of the reporting
Consolidated report: KD	(KN-not consolidated/KD-consolidated)
Audited: RN	(RN-not audited/RD-audited)
Names of subsidiaries (according to IFRS):	Registered office: MB:
IGH PROJEKTIRANJE D.O.O.	ZAGREB, JANKA RAKUŠE 1 02441918
INCRO D.O.O.	ZAGREB, JANKA RAKUSE 1 01982516
IGH BUSINESS ADVISORY SERVICES D.O.O.	ZAGREB, JANKA RAKUŠE 1 01819585
FORUM CENTAR D.O.O.	ZAGREB, JANKA RAKUSE 1 01960229
EKONOMSKO TEHNIČKI ZAVOD D.D.	OSIJEK, DRINSKA 18 03013669
IGH CONSULTING D.O.O.	ZAGREB, JANKA RAKUŠE 1 02462478
DP AQUA D.O.O.	ZAGREB, JANKA RAKUŠE 1 01907522
RADELJEVIĆ D.O.O.	ZAGREB, JANKA RAKUSE 1 01938533
MARTERRA D.O.O.	ZAGREB, JANKA RAKUSE 1 02814692
POSLOVNA ZONA VELIKA KOPANICA D.O.O.	ZAGREB, JANKA RAKUŠE 1 02349671
IGH MOSTAR D.O.O.	MOSTAR, BISCE POLJE BB 270604700
IGH D.O.O. MOSTAR	MOSTAR, BISCE POLJE BB 277254600
IGH KOSOVA Sha	PRIŠTINA, KOSOVO
Bookkeeping firm: No	(Yes/No)
Contact person: Larisa Lukšić	(name of the bookkeeping firm)
(only name and surname of the contact person) Telephone:
E-mail address: larisa.luksic.hr
Audit firm:
(name of the audit firm) Certified auditor:
(name and surname)

BALANCE SHEET balance as at 30.06.2020.

in HRK Submitter: INSTITUT IGH D.D. Last day of the At the reporting date ADP Item preceding business of the current period code vear 1 2 A) RECEIVABLES FOR SUBSCRIBED CAPITAL UNPAID 001 0 0 B) FIXED ASSETS (ADP 003+010+020+031+036) 002 209.264.329 187.946.403 LINTANGIBLE ASSETS (ADP 004 to 009) 003 2.207.084 1.683.829 1 Research and development 004 0 0 2 Concessions, patents, licences, trademarks, software and other 005 988.492 514.228 rights 3 Goodwill 006 1.134.983 1.134.984 4 Advances for the purchase of intangible assets 007 43.613 0 5 Intangible assets in preparation 008 39.996 34.617 6 Other intangible assets 009 0 0 II TANGIBLE ASSETS (ADP 011 to 019) 010 190.787.246 169.242.862 1 Land 011 93.666.253 65.865.069 2 Buildings 012 53.129.161 53.129.161 3 Plant and equipment 013 16.405.327 23.067.768 4 Tools, working inventory and transportation assets 014 5.374.198 4.041.187 5 Biological assets 015 0 0 6 Advances for the purchase of tangible assets 016 466.947 569.595 7 Tangible assets in preparation 017 21.091.428 21.917.444 8 Other tangible assets 018 305.575 304.281 9 Investment property 019 348.357 348.357 III FIXED FINANCIAL ASSETS (ADP 021 to 030) 020 15.201.368 16.031.967 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 4. Investments in holdings (shares) of companies linked by virtue of 024 0 0 participating interests 5 Investment in other securities of companies linked by virtue of 025 0 397.209 participating interests 6 Loans, deposits etc. to companies linked by virtue of participating 026 0 0 interests 7 Investments in securities 027 125.800 236.500 8 Loans, deposits, etc. given 028 503.632 634.758 9 Other investments accounted for using the equity method 14.558.000 029 14.558.000 10 Other fixed financial assets 030 13.936 205.500 IV RECEIVABLES (ADP 032 to 035) 031 1.061.970 987.745 1 Receivables from undertakings within the group 032 0 0 2 Receivables from companies linked by virtue of participating 033 0 0 interests 3 Customer receivables 034 1.061.970 987.745 4 Other receivables 035 0 0 V DEFERRED TAX ASSETS 036 6.661 0 C) CURRENT ASSETS (ADP 038+046+053+063) 037 233.372.207 240.877.773 I INVENTORIES (ADP 039 to 045) 038 157.210.631 160 283 488 1 Raw materials and consumables 039 0 0 2 Work in progress 040 75.729.758 78.105.932 3 Finished goods 041 0 0 4 Merchandise 042 568.162 568.162 5 Advances for inventories 043 0 0 6 Fixed assets held for sale 044 80.912.711 81.609.394 7 Biological assets 045 O 0 II RECEIVABLES (ADP 047 to 052) 046 45.429.810 48.425.798 1 Receivables from undertakings within the group 047 0 0 2 Receivables from companies linked by virtue of participating 048 0 39.345 interests 3 Customer receivables 049 39.631.112 41.268.068 4 Receivables from employees and members of the undertaking 050 877.276 864.289 5 Receivables from government and other institutions 051 1.984.872 3.757.049 6 Other receivables 052 2.936.550 2.497.047 III CURRENT FINANCIAL ASSETS (ADP 054 to 062) 053 18.784.632 21.688 178 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 0 0 4 Investments in holdings (shares) of companies linked by virtue of 057 0 0 participating interests 5 Investment in other securities of companies linked by virtue of 058 0 participating interests 0 6 Loans, deposits etc. to companies linked by virtue of participating 059 9.200 0 interests 7 Investments in securities 060 50.720 0 8 Loans, deposits, etc. given 061 18.724.712 21.688.178 9 Other financial assets 062 0 0 IV CASH AT BANK AND IN HAND 063 11.947.134 10.480.309 D ) PREPAID EXPENSES AND ACCRUED INCOME 064 16.620.079 24.093.077 E) TOTAL ASSETS (ADP 001+002+037+064) 452.917.25 065 459.256.615 OFF-BALANCE SHEET ITEMS 066 49.806.747 49.806.747

LABILITIES
A) CAPITAL AND RESERVES (ADP 068 to	067	-41.828.491	-39.975.343
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	-3.275.313	-3.275.115
1 Legal reserves	071	O
2 Reserves for treasury shares	072	1.446.309	1.446.309
3 Treasury shares and holdings (deductible item)	073	-5.676.024	-5.676.024
4 Statutory reserves	074	0
5 Other reserves	075	954.402	954.600
IV REVALUATION RESERVES	076	102.868.949	98.133.249
V FAIR VALUE RESERVES (ADP 078 to 080)	077	0
1 Fair value of financial assets available for sale	078	0	C
2 Cash flow hedge - effective portion	079	0	C
3 Hedge of a net investment in a foreign operation - effective portion	080	0	C
VI RETAINED PROFIT OR LOSS BROUGHT FORWARD (ADP 082- 083)	081	-273.713.497	-252.338.995
1 Retained profit	082	144.899.852	143.125.359
2 Loss brought forward	083	418.613.349	395.464.354
VII PROFIT OR LOSS FOR THE BUSINESS YEAR (ADP 085-086)	084	16.639.000	1.853.148
1 Profit for the business year	085	16.639.000	1.853.148
2 Loss for the business year	086	0	0
VIII MINORITY (NON-CONTROLLING) INTEREST	087	-696.957	-696.957
B) PROVISIONS (ADP 089 to 094)	088	2.232.828	2.232.828
1 Provisions for pensions, termination benefits and similar obligations	089	505.988	505.988
2 Provisions for tax liabilities	090	0
3 Provisions for ongoing legal cases	091	1.726.840	0
4 Provisions for renewal of natural resources	092	0	1.726.840
5 Provisions for warranty obligations	093	0	0 0
6 Other provisions	094	0	0
C) LONG-TERM LIABILITIES (ADP 096 to 106)	095	71.149.584	62.955.348
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	41.166.006
7 Liabilities for advance payments	102	255.987	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	21.989.116	21.094.291
D) SHORT-TERM LIABILITIES (ADP 108 to 121)	107	374.118.655	348.399.334
1 Liabilities to undertakings within the group	108	0	0
2 Liabilities for loans, deposits, etc. of undertakings within the group	109	0	0
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	111	0	0
participating interests
5 Liabilities for loans, deposits etc.	112	1.254.216	1.290.018
6 Liabilities to banks and other financial institutions	113	233.040.921	231.177.678
7 Liabilities for advance payments	114	3.717.354	4.143.916
8 Liabilities to suppliers	115	26.633.747	21.348.866
9 Liabilities for securities	116	70.973.241	46.964.289
10 Liabilities to employees	117	6.423.294	5.605.646
11 Taxes, contributions and similar liabilities	118	8.525.889	15.496.488
12 Liabilities arising from the share in the result	119	216.366	0
13 Liabilities arising from fixed assets held for sale	120	0	0
14 Other short-term liabilities	121	23.019.199	22.372.433
E) ACCRUALS AND DEFERRED INCOME	122	53.584.039	79.305.086
F) TOTAL - LIABILITIES (ADP 067+088+095+107+122)	123	459.256.615	452.917.253
G) OFF-BALANCE SHEET ITEMS	124	49.806.747	49.806.747

STATEMENT OF PROFIT OR LOSS

for the period 01.01.2020. to 30.06.2020.

SUNITIES! INSTITUTION IST U.D.				Current period Cumulative Quarter
Item	ADP code	Same period of the previous year Cumulative Quarter
1	2	3	4	5	6
OPERATING INCOME (ADP 126 to 130)	125	93.395.636	53.223.603	123.022.607	67.606.929
1 Income from sales with undertakings within the group	126	0	0	0	0
2 Income from sales (outside group)	127	88.031.771	49.146.050	82.986.653	38.769.673
3 Income from the use of own products, goods and services 4 Other operating income with undertakings within the group	128	141.003	141.003	124.624	61.331
5 Other operating income (outside the group)	129 130	-1 5.222.863	-1 3.936.551	0	0
				39.911.330	28.775.925
II OPERATING EXPENSES (ADP 132+133+137+141+142+143+146+153	131	81.010.012	42.469.018	104.416.593	62.345.158
1 Changes in inventories of work in progress and finished goods	132	0	0	0	O
2 Material costs (ADP 134 to 136) a) Costs of raw materials and consumables	133	25.120.514	14.129.548	23.222.133	10.504.878
b) Costs of goods sold	134 135	4.323.057 0	2.210.625 0	3.362.207 0	1.291.499
c) Other external costs	136	20.797.457	11.918.923	19.859.926	0 9.213.379
3 Staff costs (ADP 138 to 140)	137	42.155.157	21.173.296	42.752.741	21.403.061
a) Net salaries and wages	138	26.952.379	12.984.456	28.502.646	13.467.774
b) Tax and contributions from salary costs	139	10.377.937	5.752.060	9.000.835	5.273.755
c) Contributions on salaries	140	4.824.841	2.436.780	5.249.260	2.661.532
4 Depreciation	141	4.856.984	2.427.335	4.210.623	1.744.220
5 Other costs 6 Value adjustments (ADP 144+145)	142	7.113.444	3.911.483	6.299.974	2.919.297
a) fixed assets other than financial assets	143 144	1.415.976 0	589.167 0	784.061 0	556.732
b) current assets other than financial assets	145	1.415.976	589.167	784.061	0 556.732
7 Provisions (ADP 147 to 152)	146	0	O	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 t) Other provisions	151	0	0	0	0
8 Other operating expenses	152 153	0 347.937	0 238.189	0 27.147.061	0
III FINANCIAL INCOME (ADP 155 to 164)	154	2.162.540	1.886.342	3.211.266	25.216.970 2.569.400
1 Income from investments in holdings (shares) of undertakings within
the group	155	0	0	0	0
2 Income from investments in holdings (shares) of companies linked by	156	0	0	0	0
virtue of participating interests 3 Income from other long-term financial investment and loans granted
to undertakings within the group	157	O	0	0	0
4 Other interest income from operations with undertakings within the	158	0
group			0	0	0
5 Exchange rate differences and other financial income from operations	159	0	0	0	141.053
with undertakings within the group 6 Income from other long-term financial investments and loans	160	O	0
7 Other interest income	161	33.597	33.597	O 8.206	0 3.641
8 Exchange rate differences and other financial income	162	2.128.868	1.852.670	3.203.060	2.424.706
9 Unrealised gains (income) from financial assets	163	0	O	0	0
10 Other financial income	164	75	75	0	0
IV FINANCIAL EXPENSES (ADP 166 to 172)	165	7.041.795	3.268.887	20.858.955	3.942.546
1 Interest expenses and similar expenses with undertakings within the	166	0	O	0	0
group 2 Exchange rate differences and other expenses from operations with
undertakings within the group	167	387.680	387.680	0	0
3 Interest expenses and similar expenses	168	5.445.991	1.679.243	2.604.202	13.484
4 Exchange rate differences and other expenses	169	1.198.284	1.198.284	3.799.750	3.929.062
5 Unrealised losses (expenses) from financial assets	170	O	O	0	0
6 Value adjustments of financial assets (net) 7 Other financial expenses	171	0	O	5.090.449	0
SHARE IN PROFIT FROM UNDERTAKINGS LINKED BY VRITUE	172	9.840	3.680	9.364.554	0
OF PARTICIPATING INTERESTS	173	O	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	175	5.791	2.864	0	0
PARTICIPATING INTEREST VIII SHARE IN LOSS OF JOINT VENTURES	176	0
IX TOTAL INCOME (ADP 125+154+173 + 174)	177	95.558.176	0 55.109.945	0 126.233.873	0
TOTAL EXPENDITURE (ADP 131+165+175 + 176) ×	178	88.057.598	45.740.769	125.275.548	70.176.329 66.287.704
XI PRE-TAX PROFIT OR LOSS (ADP 177-178)	179	7.500.578	9.369.176	958.325	3.888.625
1 Pre-tax profit (ADP 177-178)	180	7.500.578	9.369.176	958.325	3.888.625
2 Pre-tax loss (ADP 178-177)	181	0	0	0	0
XII INCOME TAX	182	0	0	-894.823	0
XIII PROFIT OR LOSS FOR THE PERIOD (ADP 179-182)	183	7.500.578	9.369.176	1.853.148	3.888.625
1 Profit for the period (ADP 179-182) 2 Loss for the period (ADP 182-179)	184 185	7.500.578	9.369.176	1.853.148	3.888.625
		0	O	0	0

DISCONTINUED OPERATIONS (to be filled in by undertakings subject to IFRS only with discontinued operations)

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	O	O	0
2 Pre-tax loss on discontinued operations	188	0	0	0	0
XV INCOME TAX OF DISCONTINUED OPERATIONS	189	0	0	0	0
1 Discontinued operations profit for the period (ADP 186-189)	190	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	7.499.961	9.368.559	1.853.148	3.888.624
1 Attributable to owners of the parent	200	7.528.743	9.364.687	1.852.407	3.887.069
2 Attributable to minority (non-controlling) interest	201	-28.782	3.872	741	1.555
STATEMENT OF OTHER COMPRHENSIVE INCOME (to be filled in by undertakings subject to IFRS)
I PROFIT OR LOSS FOR THE PERIOD	202	7.500.578	9.369.176	1.853.148	3.888.624
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	0
2 Changes in revaluation reserves of fixed tangible and intangible	205	-6.010
assets			-6.010	-4.076.426	-99.391
3 Profit or loss arising from subsequent measurement of financial assets	206	0	0	0	0
available for sale
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	0
6 Share in other comprehensive income/loss of companies linked by	209	0	0	0	0
virtue of participating interests
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	7.494.568	9.363.166	-2.223.278	3.789.233
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	7.494.568	9.363.166	1.853.148	3.789.233
1 Attributable to owners of the parent	216	7.523.350	9.359.294	1.852.407	3.787.718
2 Attributable to minority (non-controlling) interest	217	-28.782	3.872	741	1.515

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
	2	3	বী
Cash flow from operating activities 1 Pre-tax profit	001	7.500.578	958.325
2 Adjustments (ADP 003 to 010):	002	-3.458.036	2.904.437
a) Depreciation	003	4.856.984	4.210.623
b) Gains and losses from sale and value adjustment of fixed tangible and	004	0	396.000
intangible assets 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
e) Interest expenses	007	5.445.991	2.604.202
f) Provisions	008	0
g) Exchange rate differences (unrealised) h) Other adjustments for non-cash transactions and unrealised gains and	009	-542.904	0
losses	010	-14.634.083	-5.090.449
I Cash flow increase or decrease before changes in working capital (ADP 001+002)	011	4.042.542	3.862.762
3 Changes in the working capital (ADP 013 to 016)	012	-7.703.224	-3.865.777
a) Increase or decrease in short-term liabilities	013	-774.176	-5.125.560
b) Increase or decrease in short-term receivables	014	-6.929.048	1.259.783
c) Increase or decrease in inventories	015	0
d) Other increase or decrease in working capital	016	0	0
Il Cash from operations (ADP 011+012)	017	-3.660.682	-3.015
4 Interest paid 5 Income tax paid	018	0 0	0
	019		0
A) NET CASH FLOW FROM OPERATING ACTIVITIES (ADP 017 to 019)	020	-3.660.682	-3.015
Cash flow from investment activities 1 Cash receipts from sales of fixed tangible and intangible assets	021	666.713	0
2 Cash receipts from sales of financial instruments	022	0	0
3 Interest received 4 Dividends received	023	0	0
5 Cash receipts from repayment of loans and deposits	024 025	0	0
6 Other cash receipts from investment activities	026	0 0	0 0
Ill Total cash receipts from investment activities (ADP 021 to 026)	027	666.713	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 3 Cash payments for loans and deposits for the period	029 030	0 0	0
4 Acquisition of a subsidiary, net of cash acquired	031	0	0 0
5 Other cash payments from investment activities	032	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)	034	666.713	0
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 financial instruments	036	0	0
3 Cash receipts from credit principals, loans and other borrowings	037	0	0
4 Other cash receipts from financing activities	038	0	0
V Total cash receipts from financing activities (ADP 035 to 038)	039	0	0
1 Cash payments for the repayment of credit principals, loans and other 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 FROM 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 020+034+046+047)	048	-2.993.969	-1.466.825
E) CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE PERIOD	049	6.922.046	11.947.134
F) CASH AND CASH EQUIVALENTS AT THE END OF THE PERIOD(ADP 048+049)	050	3.928.077	10.480.309

STATEMENT OF CHANGES IN EQUITY	30 6 2020 11
	for the period from 1.1 2020 to to

	ে সাম	nother (ULC.)	Logal resorves Capital reserver	transliny childres				Francisl Edgels Emanelsi Educts available for onlo	Cash flow hodge -	Hødge of a met Investiment In a Korelgino portulion -	Rolained profit forward	Profilicas for II		Inority (no ﺍﻟﻤﺴﺘﻮﻯ ﺍﻟﻤﺴﺘﻮﻯ ﺍﻟﻤﺴﺘﻮﻯ ﺍﻟﻤﺴﺘﻮﻯ ﺍﻟﻤﺴﺘﻮﻯ ﺍﻟﻤﺴﺘﻮﻯ ﺍﻟﻤﺴﺘﻮﻯ ﺍﻟﻤﺴﺘﻮﻯ ﺍﻟﻤﺴﺘﻮﻯ ﺍﻟﻤﺴﺘﻮﻯ ﺍﻟﻤﺴﺘﻮﻯ ﺍﻟﻤﺴﺘﻮﻯ ﺍﻟﻤﺴﺘﻮﻯ ﺍﻟﻤﺴﺘﻮﻯ ﺍﻟﻤﺴﺘﻮﻯ ﺍﻟﻤﺴﺘﻮﻯ ﺍﻟﻤﺴﺘﻮﻯ ﺍﻟﻤﺴﺘﻮﻯ ﺍﻟﻤﺴﺘﻮﻯ ﺍﻟﻤﺴﺘﻮﻯ ﺍﻟﻤﺴﺘﻮﻯ ﺍﻟﻤﺴﺘ
1 Balance on the first day of the previous business year evious period
Changes in accounting policies Correction of errors	01 ్లం	0 0 116.604.710	000 O C -255.383	1,446,309	16 024	1.346.600 000000000	00 126.039.499	00000000	00000	000	-292 154.379 - 13.101	-4, 160.607	-13,101 -56.809.275	-633.957	-57,443.232 -13.101
4 Balance on the first day of the previous business year (restated) (ADP 01 to 03)	03			0		10
	04 90	116.604.710	0 0 -255.383	1.446.309	5.676.024	0 1.346.600	126,039,499				-292.167.480	-4,160.607	-56.822.376	-633.957	-57,456.333
5 Profit/loss of the period 6 Exchange rate differences from translation of foreign operations	90	000	0 00	00 0	0 00		0:0		00	010		16,639.000	16.639.000	-63.000	16,576,000
sposse reserves of fixed tangible and intangible 7 Changes in revaluation	07		0 0			0	23.170.550				23.205.638		35.088		35.08
measurement of financial assets available for subsoquoni 8 Profit or loss arising from	08	0	0 0	0		0 0
hedaa cash flow effective from arising ! loss Profit or	09	0	0 0			110	0110110
operation ent in a foreign hedge of a net investr effective arising from 10 Profit or loss	10	0	0 0	0 20		0
companies linked by virtue of ાં alloss 11 Share in other comp participating interests	11	0	0 0	0		0
12 Actuarial gains/losses on the defined benefit obligation	ट।	0	0 0
14 Tax on transactions recognised directly in equity 13 Other changes in equity unrelated to owners	Cl 2	0 0	0 0	000000	000	0000 00000					-591.048	000	-591.048		-591.04
and reinvesting profit 15 Increase/decrease in initial (subscribed) capital (other than hom i other than arising trom the pro-bankruptcy settlement procedure)	si	0	0 0	0		0
16 Increase in initial (subscribed) capital arising from the reinvestment of profit	16	0	0 0	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	8 !	0	0 0
19 Payment of share in profit/dividend	6 l	00	0 0	00000	00000	00				00000				000
20 Other distribution to owners	। ट 02	0	0 0 0 0			-392.198					-4.160.607	4.160.607	-4.552.805 4.160.607		4.160.607
21 Transfer to resorves according to the annual schedule 22 Increase in resorves ansing from the pro-bankuptcy sottlement procedure 23 Balance on the last day of the previous	22		0			00000000									-4.552.80
APPENDIX TO THE STATEMENT OF CHANGES IN EQUITY (to be filled in by und	23	116.604.7 10	0 -255,383	1.446.309	5.676.024	954.402	102.868.949				-273.713.497	16.639.000	-41.131.534	896 957	-41.828 49
I OTHER COMPREHENSIVE INCOME OF THE PREVIOUS PERIOD, NET OF TAX ADP 06 to 14)	gs that 55	0 draw up financial state	0 with the IFRS) 0 ents in accordance	0		0	-23.170.560				22.614.590		-555,960		-રેફ્ક
II COMPREHENSIVE INCOME OR LOSS FOR THE PREVIOUS PERIOD (ADP 05+24)	25	0	0 0	0		0	-23.170.650			0	22.614.590	16.639.000	16.083.040	-63.000	16.020.04
III TRANSACTIONS WITH OWNERS IN THE PREVIOUS PERIOD RECOGNISED DIRECTLY IN EQUITY (ADP 15 to 22)	26	0	0 0	0		-392.198 0
Current period											-4.160.607	4,160,607	-392. 198		-392.
1 Balance on the first day of the current business year 2 Changes in accounting policies	LZ	116,604 710	0 -255,383	1 446 309	6,676,024	954.402	102.868.949				-273 713.497	16.639.000	-41.131.534	-696.967	-41,828.49
Correction of errors	हर दि	0 0	00 0	0 0	0	0		000		01010
4 Balance on the first day of the current business year (restated) (ADP 27 to 29)	୍ରିୟ	116.604.710	0 -255:383	1.446.309	5.676.024	954,402	102.868.949	0
o Profit/loss of the period Exchange rate differences	LE		0								-273-713.497	1.853.148 16.639.000	-41.131.534 1.853.148	-696.957	-41.828.49
from translation of foreign operations	ਟ ਦ	0 0	0000 0		00	00	00				్నార	1/10			1.853
of fixed tangible and intangible assets Changes in revaluation reserves	్రెక్	0	0	00 0 0 0 0			-4 735.700				4.735
available for measurement of financial assets subsequent 3 Profit or loss arising from	n	0	20 9
effective cash flow hedge Profit or loss arising from	રૂક	0	9 NO
effective hedge of a net investment in a foreign operation 10 Profit or loss arising from	96	0	0 0	10
noome/loss of companies linked by virtue of ్రెస్ 11 Share in other com	15	0	0
11 Shellow interests 12 Actuating interelosses on the dolined benoff obligation 12 Actuating interelosses on the defined benoff obligation 14 Tax ve transactions recognised d	38	ರ	0000
	62 Off	0 0	00000					010
reinvesting profit an 15 Increase/docrease in initial (subscribed) capital (other than from ther than arising from the pre-bankruptcy settlement procodure)	41	0	0 0	000000				0
reinvestmont of profit the 16 Increase in initial (subscribed) capital arising from	42	0	0 0
settlen the pre-bankruptcy initial (subscribed) capital arising from 17 Increase in				go	0
odure	ତା PP	0	0					0
18 Redemption of treasury shares/holdings 19 Payment of share in probit/dividend 20 Other distribution to owners	SP	0000	0000000 0000	00000	0000	000		00
	91 18											-16.639.000	-16.639.000 16.639.000		-16.639.000
21 Transfor to resorves according to the annual schedule 22 Increase in roserves arising from the pre-bankuplcy sottlement procedure 23 Balance on the last day of the current	48		0	0							16.639.000
0 48)	49	116,604,710	0 -265.383	1.446 309	5.676.024	954 402	98.133.249				-252.338.197	148 1,853.	39.278.386	696.95	-39.975.34
APPENDIX TO THE STATEMENT OF CHANGES IN EQUITY (to be filled in by und I OTHER COMPREHENSIVE INCOME FOR THE CURRENT PERIOD, NET OF	aw gs that	up financial state	onts In accordance with the IFRS)
(ADP 32 to 40) TAX	50	0	0 0	0			-4,735,700				4.735.700
II COMPREHENSIVE INCOME OR LOSS FOR THE CURRENT PERIOD (ADP (09+1E	51	0	0 ಿ	0			-4.735.700				4 735,700	1,853,148	1,853,148		1.853.148
III TRANSACTIONS WITH OWNERS IN THE CURRENT PERIOD RECOGNISED DIRECTLY IN EQUITY (ADP 41 to 48)	52	0	0	0
											16.639.000	-16.639.000