Institut IGH d.d. — Interim / Quarterly Report 2021

Jul 30, 2021

Zagreb, July 30, 2021

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

The Company's Management Board has to ensure that the Group's unaudited financial reports for the accounting period from January to June 2021 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 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 Group's assets, and hence for undertaking every measure it deems necessary to prevent and discover cases of fraud and other illegal activity.

gioničko druší Signed on the behalf of the Management Board

INSTITUT IGH. d.d. Janka Rakuše 1
10000 Zagreb, Croatia

PHONE +385 (0)1 612 51 25 FAX +385 (0)1 612 54 01 EMAIL igh@igh.hr WEB www.igh hr

Competent court: Commercial Court in Zagreb
Register entry with company registration No 080000959

Share capital: HRK 116,604,710.00 Paid in full

No of issued shares: IGH 613,709 Nominal share value HRK 190

Reg.No .: 3750272 PIN: 79766124714 Business bank: SBERBANK d.d IBAN: HR6825030071100087335 SWIFT code: VBCRHR22

Management Board: Robert Petrosian, President of the Management Board Vedrana Tudor, Member of the Management Board
Miroslav Pauzar, Member of the Management Board

Supervisory Board:
Žarko Dešković, MEng.CE President of the Supervisory Board

Miroslav Pauzar, Member of the Management Board

17 Vedrana Tudor, Vedrana Tudor, Judge Member of the Management Board

Shider

Zagreb, July 30, 2021

Management Report on business results of the Company Institut IGH d.d. and its subsidiaries Subject: in the period from January 1 to June 30 2021.

Institut IGH d.d.

In the period from January to June 2021, Institut IGH d.d operated with revenue amounting to HRK 82,4 million. Operating expenses (excluding amortization) amount to HRK 105,8 million. Operational profit are in amount of HRK 11,1 million, or on a level of 10,6% which resulted in EBITDA of HRK 3,4 million.

After the amorization cost in the amount of HRK 6,7 million, negative effect of interest and exchange rate differences in the amount of HRK 3,0 million, Institut IGH d.d operated at a net loss amounting HRK 23,2 million that completely coming from the solving long term liabilities from the prebankrupcy agreement and solving PIK debt of the major creditor, not from the operatioanl activites.

Impact of the COVID-19 pandemic is still present,so the activities of business development as well as offering were reduced, anyhow during the period from January to June 2021 it was conluded HRK 54,7 million of new contracts.

The company invest additional effort in activities related to increasing liquidity and shortening the settlement period of liabilities to suppliers and subcontractors of the Company.

The company's activities were focused on new markets (Middle East, Iraq and Egypt) where significant new contracts are expected, as well as activities on existing markets in which the company is already present, which is part of the company's strategy until 2030.

The Company expects the realization of the set short-term plan of activities and its fulfillment in the following periods.

IGH Group

In the period from January to June 2021, IGH Group operated at a revenue amounting to HRK 91,3 million. Operating expenses (excluding amortization) amount to HRK 135,9 million, this resulted in negative net result that completely coming from the solving long term liabilities from the prebankrupcy agreement and solving PIK debt of the major creditor, not from the operatioanl activites.

After the amortization cost in the amount of HRK 6,9 million, negative effect of interest and exchange rate differences in the amount of HRK 3,5 million, IGH Group operated at a net loss amounting HRK 45,3 million.

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 long-term, sustainable business operations.

INSTITUT IGH, d.d. Janka Rakuše 1 10000 Zagreb, Croatia

PHONE +385 (0)1 612 51 25 FAX +385 (0)1 612 54 01 EMAlL igh@igh.hr WEB www.ign.hr

Competent court: Commercial Court in Zagreb Register entry with company registration

No 080000959 Share capital:

No of issued shares: IGH 613,709 Nominal share value HRK 190

HRK 116,604,710.00

Paid in full

PIN: 79766124714 SBERBANK d.d. IBAN:

Reg.No .: 3750272

HR6825030071100087335 SWIFT code: VBCRHR22

Management Board: Robert Petrosian, President of the Management Board Miroslav Pauzar, Member of the Management Board

Supervisory Board Žarko Dešković, MEng.CE President of the Supervisory Board

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

Robert Petrosian Robert Petrosian
President of the Management Board 01

Miroslav Pauzar Member of the Management Board

Vedrana Tudor Member of the Management Board

Annex 1
	ISSUER'S GENERAL DATA
Reporting period:	1.1.2021 30.6.2021 to
Year:	2021
Quarter:	1.
	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 537 (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 RAKUŠE 1 01982516
IGH BUSINESS ADVISORY SERVICES D.O.O.	ZAGREB, JANKA RAKUŠE 1 01819585
FORUM CENTAR D.O.O.	ZAGREB, JANKA RAKUŠE 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 RAKUŠE 1 01938533
MARTERRA D.O.O.	ZAGREB, JANKA RAKUŠE 1 02814692
POSLOVNA ZONA VELIKA KOPANICA D.O.O.	ZAGREB, JANKA RAKUŠE 1 02349671

IGH MOSTAR D.O.O.	MOSTAR, BIŠĆE POLJE BB 2706047000
IGH D.O.O. MOSTAR	MOSTAR, BIŠĆE POLJE BB 2772546000
IGH KOSOVA Sha	PRIŠTINA, KOSOVO
IGH MONTENEGRO d.o.o.	PODGORICA, MOSKOVSKA 2B
Bookkeeping firm: No (Yes/No) Contact person: Larisa Lukšić	(name of the bookkeeping firm)
(only name and surname of the contact person) Telephone: 01 6125 311
E-mail address: arisa.luksic@igh.hr
Audit firm: (name of the audit firm) Certified auditor:
(name and surname)

BALANCE SHEET

balance as at 30.06.2021.

			in HRK
Submitter: INSTITUT IGH d.d. Item	ADP code	Last day of the preceding business	At the reporting date of the current period
1	2	year 3	4
A) RECEIVABLES FOR SUBSCRIBED CAPITAL UNPAID	001	0	0
B) FIXED ASSETS (ADP 003+010+020+031+036)	002	209.181.772	65.145.210
I INTANGIBLE ASSETS (ADP 004 to 009)	003	2.244.201	2.473.939
1 Research and development 2 Concessions, patents, licences, trademarks, software and other	004	0	0
rights	005	1.075.713	1.240.921
3 Goodwill	006	1.134.984	1.134.984
4 Advances for the purchase of intangible assets	007	0	0
5 Intangible assets in preparation	008	33.504	98.034
6 Other intangible assets	009	0	0
II TANGIBLE ASSETS (ADP 011 to 019)	010	190.837.638	45.132.085
1 Land	011	91.591.730	10.864.591
2 Buildings	012	43.813.184	6.053.051
3 Plant and equipment	013	29.162.758	23.501.199
4 Tools, working inventory and transportation assets 5 Biological assets	014	3.915.294	3.406.919
6 Advances for the purchase of tangible assets	015	0	0
7 Tangible assets in preparation	016 017	144.083 21.658.295	373.546
8 Other tangible assets	018	305.882	381.796 304.571
9 Investment property	019	246.412	246.412
III FIXED FINANCIAL ASSETS (ADP 021 to 030)	020	15.258.493	15.440.427
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 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 interests	026	511.693	439.700
7 Investments in securities	027	165.800	419.727
8 Loans, deposits, etc. given	028	0	0
9 Other investments accounted for using the equity method	029	14.581.000	14.581.000
10 Other fixed financial assets	030	0	0
IV RECEIVABLES (ADP 032 to 035)	031	834.727	2.098.759
1 Receivables from undertakings within the group	032	0	0
2 Receivables from companies linked by virtue of participating interests	033	0	0
3 Customer receivables	034	459.048	1.706.087
4 Other receivables	035	375.679	392.672
V DEFERRED TAX ASSETS	036	6.713	0
C) CURRENT ASSETS (ADP 038+046+053+063)	037	211.147.028	133.310.019
I INVENTORIES (ADP 039 to 045) 1 Raw materials and consumables	038	136.274.534	58.539.535
2 Work in progress	039	0	0
3 Finished goods	040 041	78.674.093	939.094
4 Merchandise	042	0 0	0 0
5 Advances for inventories	043	0	0
6 Fixed assets held for sale	044	57.600.441	57.600.441
7 Biological assets	045	0	0
II RECEIVABLES (ADP 047 to 052)	046	41.880.474	47.583.194
1 Receivables from undertakings within the group	047	0	0
2 Receivables from companies linked by virtue of participating interests	048	148.800	0
3 Customer receivables	049	24.820.586	29.813.595
4 Receivables from employees and members of the undertaking	0.50	740.034	550.140
5 Receivables from government and other institutions	051	2.117.762	2.825.957
6 Other receivables	052	14.053.292	14.393.502
III CURRENT FINANCIAL ASSETS (ADP 054 to 062)	053	24.382.498	24.399.301
1 Investments in holdings (shares) of undertakings within the group	054	0	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 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	140.800	13.800
7 Investments in securities	060	26.664	26.664
8 Loans, deposits, etc. given	061	24.054.191	24.197.993
9 Other financial assets	062	160.843	160.844
IV CASH AT BANK AND IN HAND	063	8.609.522	2.787.989
D ) PREPAID EXPENSES AND ACCRUED INCOME	064	23.491.363	14.539.893
E) TOTAL ASSETS (ADP 001+002+037+064)	065	443.820.163	212.995.122
OFF-BALANCE SHEET ITEMS	066	36.697.781	32.856.542
LIABILITES
A) CAPITAL AND RESERVES (ADP 068 to	067	-42.374.065	-107.068.378
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)	0740)	-860.885	-860.587
1 Legal reserves 2 Reserves for treasury shares	071	0	0
3 Treasury shares and holdings (deductible item)	072	1.446.309	1.446.309
4 Statutory reserves	073 074	-3.809.746	-3.809.746
5 Other reserves	075	0 1.502.552	0
IV REVALUATION RESERVES	076	97.183.224	1.502.850
V FAIR VALUE RESERVES AND OTHER (ADP 078 to 082)	0777	0	43.625.729
1 Financial assets at fair value through other comprehensive income	078	0	0 0
(i.e. available for sale)
2 Cash flow hedge - effective portion	079	0	0
3 Hedge of a net investment in a foreign operation - effective portion 4 Other fair value reserves	080	0	0
5 Exchange differences arising from the translation of foreign	081	0	0
operations (consolidation)	082	0	0
VI RETAINED PROFIT OR LOSS BROUGHT FORWARD (ADP 084- 085)	083	-254.137.733	-220.465.514
1 Retained profit	084	195.679.094	189.307.416
2 Loss brought forward	085	449.816.827	409.772.930
VII PROFIT OR LOSS FOR THE BUSINESS YEAR (ADP 087-088)	086	-509.790	-45.319.125
1 Profit for the business year	087	3.645.968	0
2 Loss for the business year	088	4.155.758	45.319.125
VIII MINORITY (NON-CONTROLLING) INTEREST	089	-398.208	-398.208
B) PROVISIONS (ADP 091 to 096)	090	10.441.842	10.441.842
1 Provisions for pensions, termination benefits and similar obligations	081	677.714	677.714
2 Provisions for tax liabilities	092	0	0
3 Provisions for ongoing legal cases	093	6.566.188	6.566.188
4 Provisions for renewal of natural resources	094	0	0
5 Provisions for warranty obligations	095	0	0
6 Other provisions	096	3.197.940	3.197.940
C) LONG-TERM LIABILITIES (ADP 098 to 108)	097	62.523.881	40.592.318
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	O	0
4 Liabilities for loans, deposits etc. of companies linked by virtue of participating interests	101	0	0
5 Liabilities for loans, deposits etc.	102	526.412	526.412
6 Liabilities to banks and other financial institutions	103	40.424.816	30.366.177
7 Liabilities for advance payments	104	0	0
8 Liabilities to suppliers	105	187.924	197.924
9 Liabilities for securities	106	0	0
10 Other long-term liabilities	107	0	0
11 Deferred tax liability	108	21.384.729	9.501.805
D) SHORT-TERM LIABILITIES (ADP 110 to 123)	109	408.984.347	266.453.142
1 Liabilities to undertakings within the group	110	0	0
2 Liabilities for loans, deposits, etc. of undertakings within the group	111	-379	0

3 Liabilities to companies linked by virtue of participating interests	112	O	0
4 Liabilities for loans, deposits etc. of companies linked by virtue of participating interests	113	0
5 Liabilities for loans, deposits etc.	114	938.010	681.813
6 Liabilities to banks and other financial institutions	115	302.589.447	162.847.864
7 Liabilities for advance payments	116	7.342.202	7.125.951
8 Liabilities to suppliers	117	26.349.607	24.432.767
9 Liabilities for securities	118	47.800.858	47.800.647
10 Liabilities to employees	119	6.840.039	6.540.258
11 Taxes, contributions and similar liabilities	120	11.307.836	11.368.200
12 Liabilities arising from the share in the result	121	0
13 Liabilities arising from fixed assets held for sale	122	0
14 Other short-term liabilities	123	5.816.727	5.655.642
E) ACCRUALS AND DEFERRED INCOME	124	4.244.158	2.576.199
TOTAL - LIABILITIES (ADP 067+090+097+109+124)	125	443.820.163	212.995.123
G) OFF-BALANCE SHEET ITEMS	126	36.697.781	32.856.542

STATEMENT OF PROFIT OR LOSS for the period 01.01.2021. to 30.06.2021.

Submitter: INSTITUT IGH d.d.
Item		Same period of the previous year		Current period
	code	Cumulative	Quarter	Cumulative	Quarter
1 OPERATING INCOME (ADP 002 to 006)	2 001	3 123.022.607	র্ব 67.606.929	5 91.308.847	6 39.355.631
1 Income from sales with undertakings within the group	002	0	0
2 Income from sales (outside group)	003	82.986.653	38.769.673	80.513.505	39.342.243
3 Income from the use of own products, goods and services	004	124.624	61.331	62.647	13.388
4 Other operating income with undertakings within the group	005	0	0	0	(
5 Other operating income (outside the group)	006	39.911.330	28.775.925	10.732.695	C
II OPERATING EXPENSES (ADP 08+009+013+017+018+019+022+029)	007	104.416.593	62.345.158	142.901.482	34.296.046
1 Changes in inventories of work in progress and finished goods	008	0	0	0	C
2 Material costs (ADP 010 to 012)	009	23.222.133	10.504.878	20.847.880	5.653.309
a) Costs of raw materials and consumables	010	3.362.207	1.291.499	3.741.616	1.511.246
b) Costs of goods sold c) Other external costs	011 012	0 19.859.926	0	O	0
3 Staff costs (ADP 014 to 016)	013	42.752.741	9.213.379 21.403.061	17.106.264 45.890.134	4.142.063 22.807.514
a) Net salaries and wages	014	28.502.646	13.467.774	27.885.702	13.439.485
b) Tax and contributions from salary costs	015	9.000.835	5.273.755	12.140.602	6.458.957
c) Contributions on salaries	016	5.249.260	2.661.532	5.863.830	2.909.072
4 Depreciation	017	4.210.623	1.744.220	6.945.403	2.558.317
5 Other costs	018	6.299.974	2.919.297	5.562.913	2.760.450
6 Value adjustments (ADP 020+021)	019	784.061	556.732	725.688	516.456
a) fixed assets other than financial assets b) current assets other than financial assets	020 021	0 784.061	0	0	0
7 Provisions (ADP 023 to 028)	022	0	556.732 0	725.688 0	516.456 0
a) Provisions for pensions, termination benefits and similar	023	0	0	0	0
b) Provisions for tax liabilities	024	0	0	0	0
c) Provisions for ongoing legal cases	025	0	0	0	0
d) Provisions for renewal of natural resources	026	0	0	0	0
e) Provisions for warranty obligations	027	0	0	0	0
f) Other provisions	028	0	0	0	0
8 Other operating expenses III FINANCIAL INCOME (ADP 031 to 040)	029	27.147.061	25.216.970	62.929.464	0
1 Income from investments in holdings (shares) of undertakings within	030	3.211.266	2.569.400	2.038.408	1.852.192
the group	031	0	0	0	0
2 Income from investments in holdings (shares) of companies linked by	032	0	0	0	0
virtue of participating interests
3 Income from other long-term financial investment and loans granted to undertakings within the group	033	0	0	0	0
4 Other interest income from operations with undertakings within the
group	034	0	0	0	0
5 Exchange rate differences and other financial income from	035	0	141.053	63.674	63.674
operations with undertakings within the group
6 Income from other long-term financial investments and loans 7 Other interest income	036 037	0	0	0	0
8 Exchange rate differences and other financial income	038	8.206 3.203.060	3.641 2.424.706	19.181 1.777.583	0
9 Unrealised gains (income) from financial assets	039	0	0	108.720	1.731.505 0
10 Other financial income	040	0	0	69.250	57.013
IV FINANCIAL EXPENSES (ADP 042 to 048)	041	20.858.955	3.942.546	5.563.169	1.273.449
1 Interest expenses and similar expenses with undertakings within the	042	0	0	0	0
group
2 Exchange rate differences and other expenses from operations with undertakings within the group	043	0	0	8.266	8.266
3 Interest expenses and similar expenses	044	2.604.202	13.484	3.363.462	1.108.334
4 Exchange rate differences and other expenses	045	3.799.750	3.929.062	2.034.592	0
5 Unrealised losses (expenses) from financial assets	046	0	0	29	29
6 Value adjustments of financial assets (net)	047	5.090.449	0	62.942	62.942
7 Other financial expenses SHARE IN PROFIT FROM UNDERTAKINGS LINKED BY VRITUE	048	9.364.554	0	93.878	93.878
OF PARTICIPATING INTERESTS	049	0	O	0	O
SHARE IN PROFIT FROM JOINT VENTURES VI	050	O	0	0	0
VII SHARE IN LOSS OF COMPANIES LINKED BY VIRTUE OF	051	0	0	0	0
PARTICIPATING INTEREST
VIII SHARE IN LOSS OF JOINT VENTURES	052	0	0	0	0
IX TOTAL INCOME (ADP 001+030+049 +050) × TOTAL EXPENDITURE (ADP 007+041+051 + 052)	053 054	126.233.873 125.275.548	70.176.329	93.347.255	41.207.823
XI PRE-TAX PROFIT OR LOSS (ADP 053-054)	055	958.325	66.287.704 3.888.625	148.464.651 -55.117.396	35.569.495 5.638.328
1 Pre-tax profit (ADP 053-054)	056	958.325	3.888.625	0	5.638.328
2 Pre-tax loss (ADP 054-053)	057	0	0	-55.117.396	0
XII INCOME TAX	058	-894.823	0	-9.798.271	-197.417
XIII PROFIT OR LOSS FOR THE PERIOD (ADP 055-059)	059	1.853.148	3.888.625	-45.319.125	5.835.745
1 Profit for the period (ADP 055-059)	060	1.853.148	3.888.625	0	5.835.745
2 Loss for the period (ADP 059-055)	061	0	0	-45.319.125	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
(ADP 063-064)	062	0	0	0	0
1 Pre-tax profit from discontinued operations	083	0	0	0	0
2 Pre-tax loss on discontinued operations	064	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	O	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	O	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	1.853.148	3.888.624	45.319.125	5.835.745
1 Attributable to owners of the parent	076	1.852.407	3.887.069	45.300.996	5.833.410
2 Attributable to minority (non-controlling) interest	077	741	1.555	18.129	2.335
STATEMENT OF OTHER COMPRHENSIVE INCOME (to be filled in by undertakings subject to IFRS)
I PROFIT OR LOSS FOR THE PERIOD	078	1.853.148	3.888.624	45.319.125	5.835.745
II OTHER COMPREHENSIVE INCOME/LOSS BEFORE TAX (ADP 80+ 87)	079	-4.076.426	-99.391	0	0
Ill Items that will not be reclassified to profit or loss (ADP 081 to 085)	080	-4.076.426	-99.391	O	0
1 Changes in revaluation reserves of fixed tangible and intangible assets	081	-4.076.426	-99.391	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	083	0	0	0	0
statement of profit or loss, attributable to changes in their credit risk
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
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	O	0
7 Changes in fair value of forward elements of forward contracts				0	0
	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	096	0	0	0	0
V NET OTHER COMPREHENSIVE INCOME OR LOSS (ADP 080+087- 086 - 096)	097	-4.076.426	-99.391	0	0
VI COMPREHENSIVE INCOME OR LOSS FOR THE PERIOD (ADP 078+097)	098	-2.223.278	3.789.233	45.319.125	5.835.745
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
100+101)	099	1.853.148	3.789.233	45.319.125	5.835.745
1 Attributable to owners of the parent	100	1.852.407	3.787 718	45.319.125	5.833.410
2 Attributable to minority (non-controlling) interest	101	741	1.515	0	2.335

STATEMENT OF CASH FLOWS - indirect method for the period 01.01.2021. to 30.06.2021.

in HRK

Submitter: INSTITUT IGH d.d.
Item	ADP code	Same period of the previous year	Current period
	2	3	4
Cash flow from operating activities
1 Pre-tax profit	001	958.325	-55.117.396
2 Adjustments (ADP 003 to 010):	002	2.904.437	48.710.647
a) Depreciation	003	4.210.623	6.945.403
b) Gains and losses from sale and value adjustment of fixed tangible and intangible assets	004	396.000	38.319.659
c) Gains and losses from sale and unrealised gains and losses and value
adjustment of financial assets	005	784.061	0
d) Interest and dividend income	006	0	19.181
e) Interest expenses	007	2.604.202	3.363.462
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	-5.090.449	62.942
I Cash flow increase or decrease before changes in working capital
(ADP 001+002)	011	3.862.762	-6.406.749
3 Changes in the working capital (ADP 013 to 016)	012	-3.865.77
a) Increase or decrease in short-term liabilities	013	-5.125.560	10.643.856
b) Increase or decrease in short-term receivables	014		0
c) Increase or decrease in inventories	015	1.259.783	0
d) Other increase or decrease in working capital		0	0
Il Cash from operations (ADP 011+012)	016	0	10.643.856
4 Interest paid	017	-3.015	4.237.107
5 Income tax paid	018	0	0
	019	0	0
A) NET CASH FLOW FROM OPERATING ACTIVITIES (ADP 017 to 019)	020	-3.015	4.237.107
Cash flow from investment activities
1 Cash receipts from sales of fixed tangible and intangible assets	021	0	0
2 Cash receipts from sales of financial instruments
3 Interest received	022	0	0
4 Dividends received	023	0	0
5 Cash receipts from repayment of loans and deposits	024	0	0
6 Other cash receipts from investment activities	025 026	0	0
		0	0
III Total cash receipts from investment activities (ADP 021 to 026)	027	0	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	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	0	0
B) NET CASH FLOW FROM INVESTMENT ACTIVITIES (ADP 027 +033)	034	0	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	-10.058.640
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	-1.463.810

VI Total cash payments from financing activities (ADP 040 to 044)	045	-1.463.810	-10.058.640
C) NET CASH FLOW FINANCING ACTIVITIES (ADP 039 +045)	046	-1.463.810	-10.058.640
1 Unrealised exchange rate differences in respect of cash and cash equivalents	047		0
D) NET INCREASE OR DECREASE IN CASH FLOWS (ADP 020+034+046+047)	048	-1.466.825	-5.821.533
E) CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE PERIOD	049	11.947.134	8.609.522
F) CASH AND CASH EQUIVALENTS AT THE END OF THE PERIOD(ADP 048+049)	050	10.480.309	2.787.989

STATEMENT OF CHANGES IN EQUITY
	on of the control and the first and the consisted to the consisted
	for the period from 1.1.2021 to to 30.6.2021 Carles and Concession of the program and consisted and any and the control of the contribution of

	vob	ntial (aubseribus) Capital	GaphalinesaNos		Reserves for Grouny Shares	ાં આવે તરીકે વિદે						PARTY PROPERTY
Balance on the first day of the previous business lous period		116.604.710	-255.383		1.446 309
Changes in accounting policies Correction of errors	60 60 60	0 0	0 0	0000	0 0	6.676.024		102,232,000 954.402				-273.713.497	16.639.000			-42.466.
4 Balance on the first day of the previous business year (restated) (ADP 01 to 03)	0	110.604.710	-265,383		1.446.309	5.676.024		102,232,000 102 054				-252.000 -273,965,497	16.630.000	-252.00 -42.020.		-42-7171 -262
i Profililoss of the period i Exchange rate differences from translation of foreign operations	90 00	0 0	0 0	00	0 0	0 0							-500.790	SOD		500
reserves of fixed trangible and intangible assets Changes in revale	07	o	0	0	0			5 400 000				5.460.000
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
9 Profit or loss arising from effective cash flow hedge	00		0	0	0
operation 10 Profit or loss arising from effective hedge of a net investment in a forceign	01		0	0	0	0
linked by virtue of 11 Share in other comprehensive income/loss of companies participating participating interests	11	0	0	0	0
12 Actuarial gains/losses on the defined benefit obligation 13 Other changes in equity unrelated to owners 14 Tax on transactions recognised directly in equity	とい Cl	0	0 0	0 0	0 0	-1.866.278		411.196				-2.288.83				287
15 Decrease in initial (subicribed) capital (other than arising from the pro-bankruptcy settlement procedure or from the reinvestment of profit)	15 11	0	0	0	0
initial (subscribed) capital arising from the pre-bankruptcy settle 16 Decrease in	ଦା		0	0	0	0
(7 Decrease in indial (subscribed) capital arising from the reinvestment of profit	11	0			0	0
	81	0	0	0	0
	05 26	0 0	0	0 0		0000
11 Bedmplice in al treasury staremoldings 20 Paymoria I shara in proficial and 21 Payment I sharialismal 21 Paymoile in reservalisment is manumi schement procedura 24 Ball			0 0	0	0000	0		548.150				17,600	-16.639.000	-10.073.25		-16.073.2
	ង			0 0	C							16,639,000		16.639.0		16.639.00
APPENDIX TO THE STATEMENT OF CHANGES IN EQUITY Ito be filled in by un	12	110.604.710	-255.383		1.446.309	3.809.7	502	97.183				-254.137.733	-509,700	-41.975.885		-42.374.L
	os that	up financial sta	Ath accordar In to	the IFRS)
I OTHER COMPREHENSIVE INCOME OF THE PREVIOUS PERIOD, NET OF TAX ADP 00 to 14)	25				0	-1.866.278		5.048.80				3.171.164		-11,362	298,749	287.38
II COMPREHENSIVE INCOME OR LOSS FOR THE PREVIOUS PERIOD (ADP 5425)	26					-1.806.278		-5.048.80				3.171.164	-500,700	-521.152	208,749	222
III TRANSACTIONS WITH OWNERS IN THE PREVIOUS PERIOD RECOGNISED DIRECTLY IN EQUITY (ADP 15 to 23)	12
								SAR 150								565
Surrent period 1 Balance on the first day of the current business year 2 Changos in accounting policies Changos in accounting policies 3 Correction of errors	oc az	116.604.710	-255.383		1.446.309	3.809.746		97.183.196 1.502.552				-254.137,733	-509.790	-41.976.885	-30B 208	-42 374 09
	0E	0	0	000	0	0 0		0 0			000
Balance on the first day of the current business year (restated) (AOP 28 to 30)	12	116.604.710.	-255,383	0	1.446.300	3.809-746		97.183. 1,602,652				-264.137.733
i Profit/loss of the period i Exchange rate differences from translation of foreign operations	とな	0		0	0	0							-45.319,125 -509,790	-41.976,885 -45.319 125	398.20	42.374.09 -45,319.
Changes in revaluation reserves of fixed tangible and intangible assets	EE PE	0 0	0 0	0	0	0 0
at fair value				0	0			-53.557.46				34.182.009		-19.375.45		19,376,45
Gains or losses from subsequent measurement of financial assels rough other comprehensive income (available for sale) Profit or loss arising from	35	0			0	0
effective cash flow hedge	ସ୍ଥିତ		0		0	0
hedge of a net inves effective 10 Profit or loss arising from 11 Share in other compre	37				0	0
income/loss of companies linked by virtue of hensive rticipating	at	0	0		0	0
	විද াঞ্চ	0	0		0	0
pre-bankruptcy the 12 Actuarial gainstones on the defined benefit obligation 14 That changes in equity untrelation in only in englily 14 Tra onstranses in equity untrelations in ther formal in	iy	0	0		0	0
setlem	ਟ ਸ	0	0	0	0	0
pre-bankruptcy	ಳ	0	0	0		0
reinvestment of profit 17 Decrease in initial (subscribed) copital arising from the	ਤੁ	0	0	0	0	0
18 Redemption of freasury shares/holdings 19 Payments from members/shareholders 20 Paymont of share in profil/dividend	2017-07-08 94	0000	0 0	0	0 0	0000
tents fo and payn 21 Other distributions	୍ଥା		000	00000	0
plano per an 22 Carrylor	06	0			0	0							000 509.	509,790 -509,700		003 1002
24 Balance on the last day of the current business year reporting period (ADP 31 bankruptcy settlement proc arising from the pre- 23 Increase												-509.7
APPENDIX TO THE STATEMENT OF CHANGES IN EQUITY (to be filled in by ur 50)	51	116.004,710	-265,383		1.446,309	3,000		13.026.7				-220.465.514	125 -46 319	-106.070.468		-107,008,0
I OTHER COMPREHENSIVE INCOME FOR THE CURRENT PERIOD, NET OF THE OF THE OF THE FEAT THE FEAT THE CHARRE CHARRE CHARRE CHARRE CHARRE CHARRE CHARRE CHARRE CHARRE CHARRE CHARRE C	as that	up financial ata
	52					0		-53.557.467				34.182.009		-19.375.458		-10 376.461
II COMPREHENSIVE INCOME OR LOSS FOR THE CURRENT PERIOD (ADP 32 10 52)	53							-53.567.467				34,182,009	-45.310,126	-04.094.583		-6-1-594,583
TRANSACTIONS WITH OWNERS IN THE CURRENT PERIOD RECOGNISED RECTLY IN EQUITY (ADP 42 to 50)	54												500