Stop parsing PDFs. Get the API. Request Access

AI Terminal

MODULE: AI_ANALYST
Interactive Q&A, Risk Assessment, Summarization
MODULE: DATA_EXTRACT
Excel Export, XBRL Parsing, Table Digitization
MODULE: PEER_COMP
Sector Benchmarking, Sentiment Analysis
SYSTEM ACCESS LOCKED
Authenticate / Register Log In

Jadran d.d.

Quarterly Report • Apr 28, 2025

2094_10-q_2025-04-28_7a5d0191-f2c4-440e-ad72-a17547d2a356.pdf

Quarterly Report

Open in Viewer

Opens in native device viewer

MANAGEMENT REPORT Q1 2025

CONTENT

    1. General information
    1. Company and Group business results
    1. Company and Group risk exposure
    1. Human resources
    1. ESG and Corporate Governance
    1. Research and development activities
    1. Company and Group own share redemption
    1. Significant events after the reporting period
    1. Appendices financial statements (unaudited)

  • Statement by persons responsible for the preparation of the quarter report

1. GENERAL INFORMATION

Corporate name

Jadran, dioničko društvo za hotelijerstvo i turizam (further referred as: "The Company"), Reg. No. (MBS): 040000817, VAT No.: 56994999963. The short corporate name is Jadran d.d.

Registered office and legal form

Jadran d.d. is a joint-stock company. Headquarter of the Company is at Bana Jelačića 16, Crikvenica, Republic of Croatia.

Securities

As of 31 March 2025, the Company's share capital amounts to EUR 64,039,780 divided into 27,971,463 regular shares with no nominal value. The shares were issued in dematerialized form, ticker: JDRN-R-B, ISIN: HRJDRNB0002, and are held at the repository of the Central Depositary and Clearing Company.

Management Board Members:

  • Vladimir Bunić, Management Board President
  • Miroslav Pelko, Management Board Member

Supervisory Board Members:

  • Goran Hanžek, Chairman of the Supervisory Board
  • Karlo Došen, Deputy Chairman of the Supervisory Board
  • Adrian Čajić, Supervisory Board Member, representative of workers
  • Sandra Janković, Supervisory Board Member

Mirko Herceg, Supervisory Board Member

Jadran Group comprises Jadran d. d. and its subsidiaries:

Based on the contracts concluded on February 6, 2023, the Jadran Group comprises Jadran d. d. and subsidiaries:

  • Adria coast turizam d.o.o., in which Jadran d. d. holds 20 business shares having a total value of EUR 13,200.00, with individual nominal value of the business share in the amount of EUR 660.00, which represent 100% of shares and voting rights and
  • Stolist d.o.o. in which Jadran d.d. holds 100% of shares.

List of Company shareholders holding 5 percent or more of the Company's share capital (status as of 31 March 2025):

  • Erste & Steiermärkische Bank d.d. / PBZ CO OMF, Class B, holds 16,307,401 shares accounting for 58.30% of the Company's share capital; and
  • OTP Bank d.d. / Erste Plavi OMF, Class B, holds 8,547,346 shares accounting for 30.56% of the Company's share capital.

2. COMPANY AND GROUP BUSINESS RESULTS

Company Jadran d. d. in the period from January to March 2025, achieved 24% less commercial overnights compared to the same period in 2024. The decrease in overnight stays, compared to the previous year, was achieved on almost all sales channels, except for the MICE and OTA channels. The most overnights were by guests from Croatia, Austria, Slovenia, Italy and Germany.

Total revenues of the Company in the first quarter of 2025 amounted to EUR 1,337,350 and are 1% lower than the revenues realized in the same period of 2024. Business revenues in the first quarter of 2025 amounted to EUR 1,316,010 and are 2% lower than the revenues realized in the same period of 2024. Financial revenues amounted to EUR 21,340 and EUR 17.297 more than those realized in the same period in 2024.

From January to March 2025, the Company made EUR 4,534,111 in expenses, which is 11% higher than the expenses made in the same period in 2024. Material costs amounted to EUR 1,200,229 and are 42% higher than the costs realized in 2024. Personnel costs amounted to EUR 1,513,357 and are 22% higher than the costs incurred in 2024. Depreciation amounted to EUR 1,140,625 and is 12% lower than that realized in the same period in 2024. Other expenses amounted to EUR 261,935 and are 2% lower than the expenses incurred in 2024. Value adjustments amounted to EUR -43,645 while in 2024 there were no value adjustments. Other business expenses amounted to EUR 53,398 and EUR 18,299 more than the expenses realized in the same period in 2024. Financial expenses amounted to EUR 408,212 and are 3% higher than the expenses realized in 2024.

Jadran d. d. from January to March realized a loss in the amount of EUR 3,189,988, while in the same period in 2024 a loss of EUR 2,737,015 was realized. EBITDA in the first quarter amounted to EUR – 1,669,264, while in the same period last year it was EUR -1,045,026.

In the first quarter of 2025, the Group achieved a total of 24% less than overnights achieved in 2024. The decrease in overnight stays, compared to the previous year, was achieved on almost all sales channels, except for the MICE and OTA channels. The most overnights were made by guests from Croatia, Austria, Slovenia, Italy and Germany.

In the period from January to March, the Group generated a total of EUR 1,251,073 in revenue, which is 6% lower than the revenue generated in the same period in 2024. Total expenses in the first quarter amount to EUR 6,070,368 and are 9% higher than the expenses realized in the same period in 2024.

In the first quarter, a loss in the amount of EUR 4,773,269 was realized, while in the same period in 2024, a loss in the amount of EUR -1.244.714 was realized. EBITDA in the first quarter amounted to EUR -2.008.387, while in the same period last year it was EUR -1.244.714.

3. COMPANY AND GROUP RISK EXPOSURE

The most significant risks faced by the Company and the Group are as follows:

Competition risk

Competition risk in the tourism market is very high because other similar tourism destinations have invested substantial funds in the growth and development of their capacities, as well as in marketing activities focused on tourist arrivals, especially competitors in the direct environment. Among other things, competition is based on the prices, quality and substance of tourism offerings in Crikvenica Riviera, Makarska Riviera, island Brač Riviera and other domestic and foreign tourism destinations. To increase its market competitiveness, the Company and the Group launched an investment cycle in the 2018-2024 period, which included not only investments in accommodations to increase the number of units and improve accommodation quality, but also investments in the destination through active involvement in all events and designing new attractions around all the Riviera where the Company and the Group operate.

Considering the main destination where Jadran Company operates, it is important to look back at the fact that Crikvenica is not on the list of top destinations in Croatia in total tourist traffic.

However, it should be noted that there is a great tendency to revitalize the destination, as evidenced by the presence of two newly opened hotels of a recognized Croatian hotel company, which were opened / renovated in the mentioned area this year.

Currency risk

The official currency of the Company and the Group is EUR, which significantly reduced the currency risk to a minimum. The Company and the Group make most of their traffic with guests whose official currency is EUR, therefore no significant disturbances are expected that could affect the operations of the Company and the Group.

Interest rate risk

The Company and the Group are exposed to interest rate risk because they enter into loan agreements with, inter alia, variable interest rates with banks, which exposes the Company and the Group to increased risk. Rising trends of inflation rates and general levels of interest rates in international and national financial markets are actively monitored to allow the Company and the Group to respond in a timely manner in case of expected changes in interest rates on the national money market. In particular, the announcements of the central banks that create the monetary policy are actively followed, and the Company and the Group plan to harmonize their credit arrangements accordingly.

Settlement risk

Settlement risk is present in all bilateral transactions. Considering that the performance of monetary obligations to the issuers is one of the key elements necessary for uninterrupted business, the Company and the Group give high importance to this risk. The Company and the Group have established stringent procedures to minimize collection risks.

During the pandemic, war conflicts in the immediate or distant environment, certain partners may be additionally exposed to liquidity risk, which may result in increased settlement risk. In addition, settlement risk arising from executed contracts may be significantly increased in case a contract is terminated for force majeure or if free movement of persons and goods is prevented during pandemics or war conflicts in the immediate or distant environment.

Inflation risk (increases in consumer prices)

The pandemic and the disruptions in supply chains that it caused as a direct consequence had an increase in energy prices, but also the prices of other goods and services. Inflation and the increase in the purchase prices of goods and services can have an impact on the purchasing power of guests, but also on the selling prices in the facilities of the Company and the Group.

The Company and the Group achieve a large share of overnights through direct channels, thus achieving flexibility when forming final prices.

Liquidity risk

The Company and the Group manage this risk by maintaining adequate reserves and by obtaining loans from banks and using other sources of funding, by constantly monitoring planned and actual cash flows, and by comparing maturity profiles of financial assets and liabilities. The Company and the Group treat this risk as particularly important if there is increased uncertainty regarding revenue earning abilities as a result of the pandemic's adverse effects on the free movement of guests, impairment of their spending powers, and default on contracts by business partners. Liquidity risk management includes maintaining enough cash and working capital.

Risk of tax and concession legislation developments

The risk of tax and concession legislation developments is the likelihood that legislative authorities will amend tax legislation in a way that they adversely impact the Company's and Group's profitability. This risk is reflected in potential changes in tax rates and taxable assets, as well as in changes in regulations concerning concessions and concessional authorizations. The right to use a maritime domain is one of the significant conditions' precedents to further operation of the Company and the Group, so the Company and the Group have actively endeavored to establish new bases for cooperation with the local community in this segment.

Tourism industry risk

Tourism trends are largely affected by the broader political situation, growth of terrorism, the global financial crisis and the pandemic. As an industry, tourism is highly sensitive to the state of security at the destination and its surroundings. By launching the investment cycle, the Company and the Group will endeavor to minimize the impact of adverse market trends and the resulting risks.

The global financial crisis may significantly reduce the spending power of individuals inclined to traveling, whereas a pandemic and war may also significantly reduce or eliminate the effects of tourist arrivals at the Company's and Group's destination.

Environmental risk

Environmental risk may significantly affect the Company's and Group's performance, notably through the quality of the sea and coast where guests stay. Climate change may directly affect the length of stay in Company's and Group's accommodation facilities. This risk also includes other natural disasters.

4. HUMAN RESOURCES

The total number of employees on the employment contract as of March 31, 2025 in Jadran d. d. was 264 employees.

The total number of employees on the employment contract as of March 31, 2025 in Adria coast turizam d.o.o. was 26 employees.

In the company Stolist d.o.o. on March 31, 2025, there were no employees.

As of March 31, 2025, the Group employed 290 workers.

5. ESG AND CORPORATE GOVERNANCE

The management of the Company and the Group, considering the challenges of ESG reporting, is considering the establishment of a department that will deal with ESG practices through various aspects of business. Also, employees regularly attend training and workshops organized by various associations and companies to become more familiar with business practices.

The Company and the Group continuously monitor events in the environment and invest in market research, recognition of business opportunities and realization of new acquisitions. The Company and the Group direct and support the activities of affiliated companies.

6. RESEARCH AND DEVELOPMENT ACTIVITIES

The Company and the Group constantly monitor developments in its environment and invests in market research, identification of business opportunities, and new acquisitions. The Company and the Group direct and support its affiliate's activities.

7. COMPANY AND GROUP OWN SHARE REDEMPTION

As of 31 March 2025, the share capital of Jadran d.d. was EUR 64,039,780 divided into and contained in 27,971,463 regular dematerialized shares with no nominal value, and the Company held 631 own shares, which accounted for 0.0023% of the Company's share capital.

As of 31 March 2025, the share capital of Adria coast turizam d.o.o. was EUR 13,200.

As of 31 March 2025, the share capital of Stolist d.o.o. was EUR 2,654.46.

8. SIGNIFICANT EVENTS AFTER THE END OF THE REPORTING PERIOD

The Management Board of the Company, after having reviewing the received expressions of interest (non-binding offers), has decided to terminate the process of selection of potential strategic investors and that the due diligence of the Company will therefore not be conducted. The Management Board of the Company shall continue to prepare for the implementation of the share capital increase of the Company pursuant to the Resolutions of the General Assembly of the Company which was held on 10 March 2025

There were no other significant events after the end of the reporting period.

9. APPENDICES – FINANCIAL STATEMENTS (UNAUDITED)

Annex 1
ISSUER'S GENERAL DATA
Reporting period: 1.1.2025 to 31.3.2025
Year: 2025
Quarter: 1.
Quarterly financial statements
Issuer's home Member
Registration number (MB): 03145662 State code: HR
Entity's registration
number (MBS):		 040000817
Personal identification
number (OIB):		 56994999963 LEI: 74780030Q33IX8LEE969
Institution
code:		 1285
Name of the issuer: JADRAN d.d.
Postcode and town: 51260 CRIKVENICA
Street and house number: BANA JELAČIĆA 16
E-mail address: [email protected]
Web address: www.jadran-crikvenica.hr
Number of employees
(end of the reporting		 264
Consolidated report: KN (KN-not consolidated/KD-consolidated) KN KD
Audited: RN (RN-not audited/RD-audited) RN RD
Names of subsidiaries (according to IFRS): Registered office: MB:
Yes
Bookkeeping firm: No (Yes/No) No
Contact person: NATALI IVANČIĆ MAJETIĆ (name of the bookkeeping firm)
Telephone: 051/800-482 (only name and surname of the contact person)
E-mail address: [email protected]
Audit firm:
(name of the audit firm)
Certified auditor: (name and surname)

BALANCE SHEET

balance as at 31.3.2025.

Submitter: JADRAN d.d.-non consolidated
Item Last day of the
preceding business
year		 At the reporting date
of the current period
1 2 3 4
A) RECEIVABLES FOR SUBSCRIBED CAPITAL UNPAID 001 0 0
B) FIXED ASSETS (ADP 003+010+020+031+036) 002 109,066,803 108,040,963
I INTANGIBLE ASSETS (ADP 004 to 009) 003 6,831,639 6,522,754
1 Research and development 004 0 0
2 Concessions, patents, licences, trademarks, software and other 005 181,323 174,098
rights
3 Goodwill 006 0 0
4 Advances for the purchase of intangible assets 007 0 0
5 Intangible assets in preparation 008 0 0
6 Other intangible assets 009 6,650,316 6,348,656
II TANGIBLE ASSETS (ADP 011 to 019) 010 76,933,026 76,209,299
1 Land 011 31,739,392 31,739,392
2 Buildings 012 31,770,983 31,497,439
3 Plant and equipment 013 8,439,651 7,866,366
4 Tools, working inventory and transportation assets 014 0 0
5 Biological assets 015 140,415 168,374
6 Advances for the purchase of tangible assets 016 0 0
7 Tangible assets in preparation 017 450,617 548,045
8 Other tangible assets 018 0 0
9 Investment property 019 4,391,968 4,389,683
III FIXED FINANCIAL ASSETS (ADP 021 to 030) 020 23,071,510 23,071,510
1 Investments in holdings (shares) of undertakings within the group 021 23,071,510 23,071,510
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 0 0
7 Investments in securities 027 0 0
8 Loans, deposits, etc. given 028 0 0
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) 031 0 0
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 0 0
4 Other receivables 035 0 0
V DEFERRED TAX ASSETS 036 2,230,628 2,237,400
C) CURRENT ASSETS (ADP 038+046+053+063) 037 5,067,175 3,869,392
I INVENTORIES (ADP 039 to 045) 038 126,025 133,228
1 Raw materials and consumables 039 122,107 130,334
2 Work in progress 040 0 0
3 Finished goods 041 0 0
4 Merchandise 042 3,918 2,894
5 Advances for inventories 043 0 0
6 Fixed assets held for sale 044 0 0
7 Biological assets 045 0 0
II RECEIVABLES (ADP 047 to 052) 046 1,104,394 1,293,378
1 Receivables from undertakings within the group 047 64,805 77,198
2 Receivables from companies linked by virtue of participating interests 048 0 0
3 Customer receivables 049 476,829 733,170
4 Receivables from employees and members of the undertaking 050 9,331 7,320
5 Receivables from government and other institutions 051 168,754 42,462
6 Other receivables 052 384,675 433,228
III CURRENT FINANCIAL ASSETS (ADP 054 to 062) 053 1,940,069 1,961,381
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 1,940,069 1,961,381
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 059 0 0
interests
7 Investments in securities
8 Loans, deposits, etc. given 060 0 0
9 Other financial assets 061
062		 0
0		 0
0
IV CASH AT BANK AND IN HAND 063 1,896,687 481,405
D ) PREPAID EXPENSES AND ACCRUED INCOME 064 266,895 227,087
E) TOTAL ASSETS (ADP 001+002+037+064) 065 114,400,873 112,137,442
OFF-BALANCE SHEET ITEMS 066 0 0
LIABILITIES
A) CAPITAL AND RESERVES (ADP 068 to
070+076+077+083+086+089) 067 69,425,357 66,235,369
I INITIAL (SUBSCRIBED) CAPITAL 068 64,039,780 64,039,780
II CAPITAL RESERVES 069 3,371,336 3,371,336
III RESERVES FROM PROFIT (ADP 071+072-073+074+075) 070 0 0
1 Legal reserves 071 0 0
2 Reserves for treasury shares 072 0 0
3 Treasury shares and holdings (deductible item) 073 0 0
4 Statutory reserves 074 0 0
5 Other reserves 075 0 0
IV REVALUATION RESERVES 076 27,713,796 27,713,796
V FAIR VALUE RESERVES AND OTHER (ADP 078 to 082) 077 0 0
1 Financial assets at fair value through other comprehensive income 078 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 080 0 0
4 Other fair value reserves 081 0 0
5 Exchange differences arising from the translation of foreign
operations (consolidation)		 082 0 0
VI RETAINED PROFIT OR LOSS BROUGHT FORWARD (ADP 084-
085) 083 -23,020,941 -25,699,555
1 Retained profit 084 0 0
2 Loss brought forward 085 23,020,941 25,699,555
VII PROFIT OR LOSS FOR THE BUSINESS YEAR (ADP 087-088) 086 -2,678,614 -3,189,988
1 Profit for the business year 087 0 0
2 Loss for the business year 088 2,678,614 3,189,988
VIII MINORITY (NON-CONTROLLING) INTEREST 089 0 0
B) PROVISIONS (ADP 091 to 096) 090 177,011 114,365
1 Provisions for pensions, termination benefits and similar obligations 091 62,997 62,997
2 Provisions for tax liabilities 092 0 0
3 Provisions for ongoing legal cases 093 114,014 51,368
4 Provisions for renewal of natural resources 094 0 0
5 Provisions for warranty obligations 095 0 0
6 Other provisions 096 0 0
C) LONG-TERM LIABILITIES (ADP 098 to 108) 097 35,716,796 35,635,131
1 Liabilities to undertakings within the group 098 0 0
2 Liabilities for loans, deposits, etc. of undertakings within the group 099 0 0
3 Liabilities to companies linked by virtue of participating interests 100 0 0
4 Liabilities for loans, deposits etc. of companies linked by virtue of 101 0 0
participating interests
5 Liabilities for loans, deposits etc. 102 0 0
6 Liabilities to banks and other financial institutions 103 25,874,396 25,874,396
7 Liabilities for advance payments 104 0 0
8 Liabilities to suppliers 105 0 0
9 Liabilities for securities 106 0 0
10 Other long-term liabilities 107 9,842,400 9,760,735
11 Deferred tax liability 108 0 0
D) SHORT-TERM LIABILITIES (ADP 110 to 123) 109 8,997,217 10,068,085
1 Liabilities to undertakings within the group 110 0 0
2 Liabilities for loans, deposits, etc. of undertakings within the group 111 0 0
3 Liabilities to companies linked by virtue of participating interests 112 0 0
4 Liabilities for loans, deposits etc. of companies linked by virtue of
participating interests		 113 0 0
5 Liabilities for loans, deposits etc. 114 51,863 62,612
6 Liabilities to banks and other financial institutions 115 4,590,122 4,395,720
7 Liabilities for advance payments 116 461,597 2,233,768
8 Liabilities to suppliers 117 1,410,393 1,446,102
9 Liabilities for securities 118 0 0
10 Liabilities to employees 119 821,206 518,303
11 Taxes, contributions and similar liabilities 120 331,220 293,095
12 Liabilities arising from the share in the result 121 0 0
13 Liabilities arising from fixed assets held for sale 122 0 0
14 Other short-term liabilities 123 1,330,816 1,118,485
E) ACCRUALS AND DEFERRED INCOME 124 84,492 84,492
F) TOTAL – LIABILITIES (ADP 067+090+097+109+124) 125 114,400,873 112,137,442
G) OFF-BALANCE SHEET ITEMS 126 0 0

for the period 1.1.2025. to 31.3.2025. STATEMENT OF PROFIT OR LOSS

Submitter: JADRAN d.d.-non consolidated
Item ADP
code		 Same period of the previous year Current period
1 Cumulative Quarter Cumulative Quarter
I OPERATING INCOME (ADP 002 to 006) 2
001		 3
1,340,776		 4
1,340,776		 5
1,316,010		 6
1,316,010
1 Income from sales with undertakings within the group 002 0 0 0 0
2 Income from sales (outside group) 003 1,103,989 1,103,989 1,028,682 1,028,682
3 Income from the use of own products, goods and services 004 0 0 0 0
4 Other operating income with undertakings within the group 005 17,593 17,593 71,147 71,147
5 Other operating income (outside the group) 006 219,194 219,194 216,181 216,181
II OPERATING EXPENSES (ADP 08+009+013+017+018+019+022+029) 007 3,687,024 3,687,024 4,125,899 4,125,899
1 Changes in inventories of work in progress and finished goods
2 Material costs (ADP 010 to 012) 008
009		 0
844,019		 0
844,019		 0
1,200,229		 0
1,200,229
a) Costs of raw materials and consumables 010 434,233 434,233 466,014 466,014
b) Costs of goods sold 011 961 961 1,178 1,178
c) Other external costs 012 408,825 408,825 733,037 733,037
3 Staff costs (ADP 014 to 016) 013 1,238,602 1,238,602 1,513,357 1,513,357
a) Net salaries and wages 014 719,668 719,668 901,738 901,738
b) Tax and contributions from salary costs 015 328,991 328,991 393,732 393,732
c) Contributions on salaries 016 189,943 189,943 217,887 217,887
4 Depreciation 017 1,301,239 1,301,239 1,140,625 1,140,625
5 Other costs 018 268,065 268,065 261,935 261,935
6 Value adjustments (ADP 020+021) 019 0 0 0 0
a) fixed assets other than financial assets 020 0 0 0 0
b) current assets other than financial assets 021 0 0 0 0
7 Provisions (ADP 023 to 028) 022 0 0 -43,645 -43,645
a) Provisions for pensions, termination benefits and similar obligations 023 0 0 0 0
b) Provisions for tax liabilities 024 0 0 0 0
c) Provisions for ongoing legal cases 025 0 0 -43,645 -43,645
d) Provisions for renewal of natural resources 026 0 0 0 0
e) Provisions for warranty obligations
f) Other provisions		 027
028		 0
0		 0
0		 0
0		 0
0
8 Other operating expenses 029 35,099 35,099 53,398 53,398
III FINANCIAL INCOME (ADP 031 to 040) 030 4,043 4,043 21,340 21,340
1 Income from investments in holdings (shares) of undertakings within
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 033 0 0 0 0
to undertakings within the group
4 Other interest income from operations with undertakings within the
group		 034 3,962 3,962 21,311 21,311
5 Exchange rate differences and other financial income from operations
with undertakings within the group 035 0 0 0 0
6 Income from other long-term financial investments and loans 036 0 0 0 0
7 Other interest income 037 81 81 29 29
8 Exchange rate differences and other financial income 038 0 0 0 0
9 Unrealised gains (income) from financial assets 039 0 0 0 0
10 Other financial income 040 0 0 0 0
IV FINANCIAL EXPENSES (ADP 042 to 048) 041 394,810 394,810 408,212 408,212
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 043 0 0 0 0
undertakings within the group
3 Interest expenses and similar expenses		 044 394,793 394,793 408,212 408,212
4 Exchange rate differences and other expenses 045 17 17 0 0
5 Unrealised losses (expenses) from financial assets 046 0 0 0 0
6 Value adjustments of financial assets (net) 047 0 0 0 0
7 Other financial expenses 048 0 0 0 0
V SHARE IN PROFIT FROM UNDERTAKINGS LINKED BY VRITUE 049 0 0 0 0
OF PARTICIPATING INTERESTS
VI SHARE IN PROFIT FROM JOINT VENTURES 050 0 0 0 0
VII SHARE IN LOSS OF COMPANIES LINKED BY VIRTUE OF
PARTICIPATING INTEREST		 051 0 0 0 0
VIII SHARE IN LOSS OF JOINT VENTURES 052 0 0 0 0
IX TOTAL INCOME (ADP 001+030+049 +050) 053 1,344,819 1,344,819 1,337,350 1,337,350
X TOTAL EXPENDITURE (ADP 007+041+051 + 052) 054 4,081,834 4,081,834 4,534,111 4,534,111
XI PRE-TAX PROFIT OR LOSS (ADP 053-054) 055 -2,737,015 -2,737,015 -3,196,761 -3,196,761
1 Pre-tax profit (ADP 053-054) 056 0 0 0 0
2 Pre-tax loss (ADP 054-053) 057 -2,737,015 -2,737,015 -3,196,761 -3,196,761
XII INCOME TAX 058 0 0 -6,773 -6,773
XIII PROFIT OR LOSS FOR THE PERIOD (ADP 055-059) 059 -2,737,015 -2,737,015 -3,189,988 -3,189,988
1 Profit for the period (ADP 055-059) 060 0 0 0 0
2 Loss for the period (ADP 059-055) 061 -2,737,015 -2,737,015 -3,189,988 -3,189,988
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 063 0 0 0 0
2 Pre-tax loss on discontinued operations 064 0 0 0 0
XV INCOME TAX OF DISCONTINUED OPERATIONS 065 0 0 0 0
1 Discontinued operations profit for the period (ADP 062-065) 0 0 0 0
2 Discontinued operations loss for the period (ADP 065-062) 067 0 0 0 0
TOTAL OPERATIONS (to be filled in only by undertakings subject to IFRS with discontinued operations)
XVI PRE-TAX PROFIT OR LOSS (ADP 055-+062) 068 0 0 0 0
1 Pre-tax profit (ADP 068) 069 0 0 0 0
2 Pre-tax loss (ADP 068) 070 0 0 0 0
XVII INCOME TAX (ADP 058+065) 071 0 0 0 0
XVIII PROFIT OR LOSS FOR THE PERIOD (ADP 068-071) 072 0 0 0 0
1 Profit for the period (ADP 068-071) 073 0 0 0 0
2 Loss for the period (ADP 071-068) 074 0 0 0 0
APPENDIX to the P&L (to be filled in by undertakings that draw up consolidated annual financial statements)
XIX PROFIT OR LOSS FOR THE PERIOD (ADP 076+077) 075 0 0 0 0
1 Attributable to owners of the parent 076 0 0 0 0
2 Attributable to minority (non-controlling) interest 077 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 078 -2,737,015 -2,737,015 -3,189,988 -3,189,988
II OTHER COMPREHENSIVE INCOME/LOSS BEFORE TAX 079 0 0 0 0
(ADP 80+ 87)
III Items that will not be reclassified to profit or loss (ADP 081 to 085) 080 0 0 0 0
1 Changes in revaluation reserves of fixed tangible and intangible
assets		 081 0 0 0 0
2 Gains or losses from subsequent measurement of equity instruments
at fair value through other comprehensive income		 082 0 0 0 0
3 Fair value changes of financial liabilities at fair value through
statement of profit or loss, attributable to changes in their credit risk		 083 0 0 0 0
4 Actuarial gains/losses on the defined benefit obligation 084 0 0 0 0
5 Other items that will not be reclassified 085 0 0 0 0
6 Income tax relating to items that will not be reclassified 086 0 0 0 0
IV Items that may be reclassified to profit or loss (ADP 088 to 095) 087
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 089 0 0 0 0
fair value through other comprehensive income
3 Profit or loss arising from effective cash flow hedging 090 0 0 0 0
4 Profit or loss arising from effective hedge of a net investment in a
foreign operation		 091 0 0 0 0
5 Share in other comprehensive income/loss of companies linked by
virtue of participating interests		 092 0 0 0 0
6 Changes in fair value of the time value of option 093 0 0 0 0
7 Changes in fair value of forward elements of forward contracts 094 0 0 0 0
8 Other items that may be reclassified to profit or loss 095 0 0 0 0
9 Income tax relating to items that may be reclassified to profit or loss 096 0 0 0 0
V NET OTHER COMPREHENSIVE INCOME OR LOSS (ADP 080+087-
086 - 096)		 097 0 0 0 0
VI COMPREHENSIVE INCOME OR LOSS FOR THE PERIOD (ADP
078+097)		 098 -2,737,015 -2,737,015 -3,189,988 -3,189,988
APPENDIX to the Statement on comprehensive income (to be filled in by undertakings that draw up consolidated statements)
VI COMPREHENSIVE INCOME OR LOSS FOR THE PERIOD (ADP
100+101) 099 -2,737,015 -2,737,015 -3,189,988 -3,189,988
1 Attributable to owners of the parent 100 -2,737,015 -2,737,015 -3,189,988 -3,189,988
2 Attributable to minority (non-controlling) interest 101 0 0 0 0

STATEMENT OF CASH FLOWS - indirect method for the period 1.1.2025. to 31.3.2025.

ADP code Same period of the previous year Current period 2 3 4 001 -2,737,015 -3,196,761 002 1,747,885 1,483,851 003 1,301,239 1,140,625 004 0 0 005 0 0 006 -81 -21,340 007 394,793 408,211 008 0 -43,645 009 0 0 010 51,934 0 011 -989,130 -1,712,910 012 1,069,326 1,371,441 013 1,723,806 1,382,599 014 -258,324 -188,985 015 -36,936 -7,203 016 -359,220 185,030 017 80,196 -341,469 018 -280,818 -370,039 019 0 0 020 -200,622 -711,508 021 0 2,347 022 0 0 023 81 29 024 0 0 025 0 0 026 0 0 027 81 2,376 028 -33,846 -186,265 029 0 0 030 0 0 031 0 0 032 0 0 033 -33,846 -186,265 034 -33,765 -183,889 035 0 0 036 0 0 037 2,150,000 0 038 0 0 039 2,150,000 0 040 -562,772 -232,575 IV Total cash payments from investment activities (ADP 028 to 032) B) NET CASH FLOW FROM INVESTMENT ACTIVITIES (ADP 027 +033) Cash flow from financing activities 1 Cash receipts from the increase in initial (subscribed) capital 2 Cash receipts from the issue of equity financial instruments and debt financial instruments 3 Cash receipts from credit principals, loans and other borrowings 4 Other cash receipts from financing activities 1 Cash payments for the repayment of credit principals, loans and other borrowings and debt financial instruments 1 Cash receipts from sales of fixed tangible and intangible assets 2 Cash receipts from sales of financial instruments 3 Interest received 4 Dividends received 5 Cash receipts from repayment of loans and deposits 6 Other cash receipts from investment activities Cash flow from investment activities d) Other increase or decrease in working capital II Cash from operations (ADP 011+012) 2 Cash payments for the acquisition of financial instruments V Total cash receipts from financing activities (ADP 035 to 038) 4 Acquisition of a subsidiary, net of cash acquired 5 Other cash payments from investment activities III Total cash receipts from investment activities (ADP 021 to 026) 1 Cash payments for the purchase of fixed tangible and intangible assets 3 Cash payments for loans and deposits for the period 5 Income tax paid A) NET CASH FLOW FROM OPERATING ACTIVITIES (ADP 017 to 019) g) Exchange rate differences (unrealised) c) Gains and losses from sale and unrealised gains and losses and value adjustment of financial assets Cash flow from operating activities 1 Pre-tax profit 2 Adjustments (ADP 003 to 010): a) Depreciation b) Gains and losses from sale and value adjustment of fixed tangible and intangible assets 4 Interest paid Submitter: JADRAN d.d.-non consolidated a) Increase or decrease in short-term liabilities b) Increase or decrease in short-term receivables c) Increase or decrease in inventories h) Other adjustments for non-cash transactions and unrealised gains and losses I Cash flow increase or decrease before changes in working capital (ADP 001+002) 3 Changes in the working capital (ADP 013 to 016) Item 1 d) Interest and dividend income e) Interest expenses f) Provisions

2 Cash payments for dividends

in EUR

041 0 0

3 Cash payments for finance lease 042 0 -287,310
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 -1,500,000 0
VI Total cash payments from financing activities (ADP 040 to 044) 045 -2,062,772 -519,885
C) NET CASH FLOW FROM FINANCING ACTIVITIES (ADP 039 +045) 046 87,228 -519,885
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 -147,159 -1,415,282
E) CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE
PERIOD		 049 1,022,626 1,896,687
F) CASH AND CASH EQUIVALENTS AT THE END OF THE
PERIOD(ADP 048+049)		 050 875,467 481,405

STATEMENT OF CHANGES IN EQUITY

for the period from
1.1.2025
to		 31.3.2025 in EUR
Attributable to owners of the parent
ADP Fair value of
financial assets		 Hedge of a net Exchange rate Minority (non Total capital and
Item code Initial (subscribed) Capital reserves Legal reserves Reserves for Treasury shares and
holdings		 Statutory reserves Other reserves Revaluation through other Cash flow hedge - investment in a Other fair value differences from Retained profit /
loss brought		 Profit/loss for the Total attributable to controlling)
interest		 reserves
capital treasury shares (deductible item) reserves comprehensive
income (available		 effective portion foreign operation -
effective portion		 reserves translation of
foreign operations		 forward business year owners of the parent
for sale)
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 (3 to 6 - 7
+ 8 to 17)		 19 20 (18+19)
Previous period
1 Balance on the first day of the previous business year
2 Changes in accounting policies		 01
02		 64,039,780
0		 3,371,336
0		 0
0
0
0		 0
0		 0
0
0
0		 27,713,796
0		 0
0		 0
0		 0
0		 0
0		 0
0		 -23,020,941
0		 0
0		 72,103,971
0		 0
0		 72,103,971
0
3 Correction of errors 03 0 0 0
0		 0 0
0		 0 0 0 0 0 0 0 0 0 0 0
4 Balance on the first day of the previous business year (restated) (ADP 01 to 04 64,039,780 3,371,336 0
0		 0 0
0		 27,713,796 0 0 0 0 0 -23,020,941 0 72,103,971 0 72,103,971
03)
5 Profit/loss of the period		 05 0 0 0
0		 0 0
0		 0 0 0 0 0 0 0 -2,678,614 -2,678,614 0 -2,678,614
6 Exchange rate differences from translation of foreign operations 06 0 0 0
0		 0 0
0		 0 0 0 0 0 0 0 0 0 0 0
7 Changes in revaluation reserves of fixed tangible and intangible assets 07 0 0 0
0		 0 0
0		 0 0 0 0 0 0 0 0 0 0 0
8 Gains or losses from subsequent measurement of financial assets at fair value
through other comprehensive income (available for sale)		 08 0 0 0
0		 0 0
0		 0 0 0 0 0 0 0 0 0 0 0
9 Profit or loss arising from effective cash flow hedge 09 0 0 0
0		 0 0
0		 0 0 0 0 0 0 0 0 0 0 0
10 Profit or loss arising from effective hedge of a net investment in a foreign operation 10 0 0 0
0		 0 0
0		 0 0 0 0 0 0 0 0 0 0 0
11 Share in other comprehensive income/loss of companies linked by virtue of 11 0 0 0
0		 0 0
0		 0 0 0 0 0 0 0 0 0 0 0
participating interests
12 Actuarial gains/losses on the defined benefit obligation		 12 0 0 0
0		 0 0
0		 0 0 0 0 0 0 0 0 0 0 0
13 Other changes in equity unrelated to owners 13 0 0 0
0		 0 0
0		 0 0 0 0 0 0 0 0 0 0 0
14 Tax on transactions recognised directly in equity 14 0 0 0
0		 0 0
0		 0 0 0 0 0 0 0 0 0 0 0
15 Decrease in initial (subscribed) capital (other than arising from the pre-bankruptcy 15 0 0 0
0		 0 0
0		 0 0 0 0 0 0 0 0 0 0 0
settlement procedure or from the reinvestment of profit)
16 Decrease in initial (subscribed) capital arising from the pre-bankruptcy settlement
procedure		 16 0 0 0
0		 0 0
0		 0 0 0 0 0 0 0 0 0 0 0
17 Decrease in initial (subscribed) capital arising from the reinvestment of profit 17 0 0 0
0		 0 0
0		 0 0 0 0 0 0 0 0 0 0 0
18 Redemption of treasury shares/holdings 18 0 0 0
0		 0 0
0		 0 0 0 0 0 0 0 0 0 0 0
19 Payments from members/shareholders 19 0 0 0
0		 0 0
0		 0 0 0 0 0 0 0 0 0 0 0
20 Payment of share in profit/dividend
21 Other distributions and payments to members/shareholders		 20
21		 0
0		 0
0		 0
0
0
0		 0
0		 0
0
0
0		 0
0		 0
0		 0
0		 0
0		 0
0		 0
0		 0
0		 0
0		 0
0		 0
0		 0
0
22 Transfer to reserves according to the annual schedule 22 0 0 0
0		 0 0
0		 0 0 0 0 0 0 0 0 0 0 0
23 Increase in reserves arising from the pre-bankruptcy settlement procedure 23 0 0 0
0		 0 0
0		 0 0 0 0 0 0 0 0 0 0 0
24 Balance on the last day of the previous business year reporting period (ADP
04 to 23)		 24 64,039,780 3,371,336 0
0		 0 0
0		 27,713,796 0 0 0 0 0 -23,020,941 -2,678,614 69,425,357 0 69,425,357
APPENDIX TO THE STATEMENT OF CHANGES IN EQUITY (to be filled in by undertakings that draw up financial statements in accordance with the IFRS)
I OTHER COMPREHENSIVE INCOME OF THE PREVIOUS PERIOD, NET OF
TAX (ADP 06 to 14) 25 0 0 0
0		 0 0
0		 0 0 0 0 0 0 0 0 0 0 0
II COMPREHENSIVE INCOME OR LOSS FOR THE PREVIOUS PERIOD (ADP
05+25) 26 0 0 0
0		 0 0
0		 0 0 0 0 0 0 0 -2,678,614 -2,678,614 0 -2,678,614
III TRANSACTIONS WITH OWNERS IN THE PREVIOUS PERIOD RECOGNISED 27 0 0 0
0		 0 0
0		 0 0 0 0 0 0 0 0 0 0 0
DIRECTLY IN EQUITY (ADP 15 to 23)
Current period
1 Balance on the first day of the current business year
2 Changes in accounting policies		 28
29		 64,039,780
0		 3,371,336
0		 0
0
0
0		 0
0		 0
0
0
0		 27,713,796
0		 0
0		 0
0		 0
0		 0
0		 0
0		 -25,699,555
0		 0
0		 69,425,357
0		 0
0		 69,425,357
0
3 Correction of errors 30 0 0 0
0		 0 0
0		 0 0 0 0 0 0 0 0 0 0 0
4 Balance on the first day of the current business year (restated) (AOP 28 to 30) 31 64,039,780 3,371,336 0
0		 0 0
0		 27,713,796 0 0 0 0 0 -25,699,555 0 69,425,357 0 69,425,357
5 Profit/loss of the period 32 0 0 0
0		 0 0
0		 0 0 0 0 0 0 0 -3,189,988 -3,189,988 0 -3,189,988
6 Exchange rate differences from translation of foreign operations 33 0 0 0
0		 0 0
0		 0 0 0 0 0 0 0 0 0 0 0
7 Changes in revaluation reserves of fixed tangible and intangible assets 34 0 0 0
0		 0 0
0		 0 0 0 0 0 0 0 0 0 0 0
8 Gains or losses from subsequent measurement of financial assets at fair value
through other comprehensive income (available for sale) 35 0 0 0
0		 0 0
0		 0 0 0 0 0 0 0 0 0 0 0
9 Profit or loss arising from effective cash flow hedge 36 0 0 0
0		 0 0
0		 0 0 0 0 0 0 0 0 0 0 0
10 Profit or loss arising from effective hedge of a net investment in a foreign operation 37 0 0 0
0		 0 0
0		 0 0 0 0 0 0 0 0 0 0 0
11 Share in other comprehensive income/loss of companies linked by virtue of
participating interests		 38 0 0 0
0		 0 0
0		 0 0 0 0 0 0 0 0 0 0 0
12 Actuarial gains/losses on the defined benefit obligation 39 0 0 0
0		 0 0
0		 0 0 0 0 0 0 0 0 0 0 0
13 Other changes in equity unrelated to owners 40 0 0 0
0		 0 0
0		 0 0 0 0 0 0 0 0 0 0 0
14 Tax on transactions recognised directly in equity
15 Decrease in initial (subscribed) capital (other than arising from the pre-bankruptcy		 41 0 0 0
0		 0 0
0		 0 0 0 0 0 0 0 0 0 0 0
settlement procedure or from the reinvestment of profit) 42 0 0 0
0		 0 0
0		 0 0 0 0 0 0 0 0 0 0 0
16 Decrease in initial (subscribed) capital arising from the pre-bankruptcy settlement 43 0 0 0
0		 0 0
0		 0 0 0 0 0 0 0 0 0 0 0
procedure
17 Decrease in initial (subscribed) capital arising from the reinvestment of profit 44 0 0 0
0		 0 0
0		 0 0 0 0 0 0 0 0 0 0 0
18 Redemption of treasury shares/holdings 45 0 0 0
0		 0 0
0		 0 0 0 0 0 0 0 0 0 0 0
19 Payments from members/shareholders
20 Payment of share in profit/dividend		 46
47		 0
0		 0
0		 0
0
0
0		 0
0		 0
0
0
0		 0
0		 0
0		 0
0		 0
0		 0
0		 0
0		 0
0		 0
0		 0
0		 0
0		 0
0
21 Other distributions and payments to members/shareholders 48 0 0 0
0		 0 0
0		 0 0 0 0 0 0 0 0 0 0 0
22 Carryforward per annual plane 49 0 0 0
0		 0 0
0		 0 0 0 0 0 0 0 0 0 0 0
23 Increase in reserves arising from the pre-bankruptcy settlement procedure 50 0 0 0
0		 0 0
0		 0 0 0 0 0 0 0 0 0 0 0
24 Balance on the last day of the current business year reporting period (ADP
31 to 50)		 51 64,039,780 3,371,336 0
0		 0 0
0		 27,713,796 0 0 0 0 0 -25,699,555 -3,189,988 66,235,369 0 66,235,369
APPENDIX TO THE STATEMENT OF CHANGES IN EQUITY (to be filled in by undertakings that draw up financial statements in accordance with the IFRS)
I OTHER COMPREHENSIVE INCOME FOR THE CURRENT PERIOD, NET OF 52 0 0 0
0		 0 0
0		 0 0 0 0 0 0 0 0 0 0 0
TAX (ADP 33 to 41)
II COMPREHENSIVE INCOME OR LOSS FOR THE CURRENT PERIOD (ADP 32
do 52)		 53 0 0 0
0		 0 0
0		 0 0 0 0 0 0 0 -3,189,988 -3,189,988 0 -3,189,988
III TRANSACTIONS WITH OWNERS IN THE CURRENT PERIOD RECOGNISED
DIRECTLY IN EQUITY (ADP 42 to 50) 54 0 0 0
0		 0 0
0		 0 0 0 0 0 0 0 0 0 0 0

NOTES TO FINANCIAL STATEMENTS - TFI (drawn up for quarterly reporting periods)

Name of the issuer: JADRAN d.d.

Personal identification number (OIB): 56994999963

Reporting period: 01.01.2025.-.31.03.2025.

Notes to financial statements for quarterly periods include:

a) explanation of business events relevant to understanding changes in the statement of financial position and financial performance for the reporting semi-annual period of the issuer with respect to the last business year: information is provided regarding these events and relevant information published in the last annual financial statement is updated (items 15 to 15C IAS 34 - Interim financial reporting)

b) information on the access to the latest annual financial statements, for the purpose of understanding information published in the notes to financial statements drawn up for the semi-annual reporting period

c) a statement explaining that the same accounting policies are applied while drawing up financial statements for the semi-annual reporting period as in the latest annual financial statements or, in the case where the accounting policies have changed, a description of the nature and effect of the changes (item 16.A (a) IAS 34 - Interim financial reporting)

d) a description of the financial performance in the case of the issuer whose business is seasonal (items 37 and 38 IAS 34 - Interim financial reporting)

e) other comments prescribed by IAS 34 - Interim financial reporting

f) in the notes to quarterly periods financial statements, in addition to the information stated above, information in respect of the following matters shall be disclosed: 1. undertaking's name, registered office (address), legal form, country of establishment, entity's registration number and, if applicable, the indication whether the undertaking is undergoing liquidation, bankruptcy proceedings, shortened termination proceedings or extraordinary administration

  1. adopted accounting policies (only an indication of whether there has been a change from the previous period)

  2. the total amount of any financial commitments, guarantees or contingencies that are not included in the balance sheet, and an indication of the nature and form of any valuable security which has been provided; any commitments concerning pensions of the undertaking within the group or company linked by virtue of participating interest shall be disclosed separately

  3. the amount and nature of individual items of income or expenditure which are of exceptional size or incidence

  4. amounts owed by the undertaking and falling due after more than five years, as well as the total debts of the undertaking covered by valuable security furnished by the undertaking, specifying the type and form of security

  5. average number of employees during the financial year

  6. where, in accordance with the regulations, the undertaking capitalised on the cost of salaries in part or in full, information on the amount of the total cost of employees during the year broken down into the amount directly debiting the costs of the period and the amount capitalised on the value of the assets during the period, showing separately the total amount of net salaries and the amount of taxes, contributions from salaries and contributions on salaries

  7. where a provision for deferred tax is recognised in the balance sheet, the deferred tax balances at the end of the financial year, and the movement in those balances during the financial year

  8. the name and registered office of each of the undertakings in which the undertaking, either itself or through a person acting in their own name but on the undertaking's behalf, holds a participating interest, showing the proportion of the capital held, the amount of capital and reserves, and the profit or loss for the latest financial year of the undertaking concerned for which financial statements have been adopted; the information concerning capital and reserves and the profit or loss may be omitted where the undertaking concerned does not publish its balance sheet and is not controlled by another undertaking

  9. the number and the nominal value or, in the absence of a nominal value, the accounting par value of the shares subscribed during the financial year within the limits of the authorised capital

  10. the existence of any participation certificates, convertible debentures, warrants, options or similar securities or rights, with an indication of their number and the rights they confer

  11. the name, registered office and legal form of each of the undertakings of which the undertaking is a member having unlimited liability

  12. the name and registered office of the undertaking which draws up the consolidated financial statements of the largest group of undertakings of which the undertaking forms part as a controlled group member

  13. the name and registered office of the undertaking which draws up the consolidated financial statements of the smallest group of undertakings of which the undertaking forms part as a controlled group member and which is also included in the group of undertakings referred to in point 13

  14. the place where copies of the consolidated financial statements referred to in points 13 and 14 may be obtained, provided that they are available

  15. the nature and business purpose of the undertaking's arrangements that are not included in the balance sheet and the financial impact on the undertaking of those arrangements, provided that the risks or benefits arising from such arrangements are material and in so far as the disclosure of such risks or benefits is necessary for the purposes of assessing the financial position of the undertaking

  16. the nature and the financial effect of material events arising after the balance sheet date which are not reflected in the profit and loss account or balance sheet

Annex 1 ISSUER'S GENERAL DATA
Reporting period: 1.1.2025
31.3.2025
to
Year: 2025
Quarter: 1.
Quarterly financial statements
Registration number (MB):
03145662		 Issuer's home Member
HR
State code:
Entity's registration
040000817
number (MBS):
Personal identification
56994999963
number (OIB):		 74780030Q33IX8LEE969
LEI:
Institution
1285
code:
Name of the issuer: JADRAN d.d.
Postcode and town:
51260		 CRIKVENICA
Street and house number: BANA JELAČIĆA 16
E-mail address: [email protected]
Web address: www.jadran-crikvenica.hr
Number of employees
290
(end of the reporting
Consolidated report:
KD		 (KN-not consolidated/KD-consolidated)
KN		 KD
Audited:
RN		 RN
(RN-not audited/RD-audited)		 RD
Names of subsidiaries (according to IFRS): Registered office: MB:
STOLIST D.O.O. CRIKVENICA, FRANKOPANSKA 22 2741865
ADRIA COAST TURIZAM D.O.O. CRIKVENICA, BANA JELAČIĆA 16 4628233
Yes
Bookkeeping firm:
No		 (Yes/No) No
Contact person: NATALI IVANČIĆ MAJETIĆ (name of the bookkeeping firm)
Telephone: 051/800-482 (only name and surname of the contact person)
E-mail address: [email protected]
Audit firm:
(name of the audit firm)
Certified auditor:
(name and surname)

BALANCE SHEET

balance as at 31.3.2025

Submitter: JADRAN d.d.-consolidated
Item ADP
code		 Last day of the
preceding business
year		 At the reporting date
of the current period
1 2 3 4
A) RECEIVABLES FOR SUBSCRIBED CAPITAL UNPAID 001 0 0
B) FIXED ASSETS (ADP 003+010+020+031+036) 002 128,714,724 126,812,983
I INTANGIBLE ASSETS (ADP 004 to 009) 003 7,544,253 7,228,921
1 Research and development 004 0 0
2 Concessions, patents, licences, trademarks, software and other
rights		 005 194,181 186,086
3 Goodwill 006 489,331 489,331
4 Advances for the purchase of intangible assets 007 0 0
5 Intangible assets in preparation 008 0 0
6 Other intangible assets 009 6,860,741 6,553,504
II TANGIBLE ASSETS (ADP 011 to 019) 010 118,809,771 117,216,590
1 Land 011 35,729,735 35,729,735
2 Buildings 012 62,055,532 61,378,686
3 Plant and equipment 013 15,850,782 14,827,526
4 Tools, working inventory and transportation assets 014 0 0
5 Biological assets 015 311,393 322,441
6 Advances for the purchase of tangible assets 016 0 0
7 Tangible assets in preparation 017 470,361 568,519
8 Other tangible assets 018 0 0
9 Investment property 019 4,391,968 4,389,683
III FIXED FINANCIAL ASSETS (ADP 021 to 030) 020 130,072 130,072
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
4. Investments in holdings (shares) of companies linked by virtue of		 023 0 0
participating interests 024 0 0
5 Investment in other securities of companies linked by virtue of
participating interests 025 0 0
6 Loans, deposits etc. to companies linked by virtue of participating 026 0 0
interests
7 Investments in securities 027 0 0
8 Loans, deposits, etc. given
9 Other investments accounted for using the equity method		 028 130,072 130,072
10 Other fixed financial assets 029
030		 0
0		 0
0
IV RECEIVABLES (ADP 032 to 035) 031 0 0
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 0 0
4 Other receivables 035 0 0
V DEFERRED TAX ASSETS 036 2,230,628 2,237,400
C) CURRENT ASSETS (ADP 038+046+053+063) 037 4,000,018 2,983,911
I INVENTORIES (ADP 039 to 045) 038 152,506 161,189
1 Raw materials and consumables 039 147,931 157,638
2 Work in progress 040 0 0
3 Finished goods 041 0 0
4 Merchandise 042 4,575 3,551
5 Advances for inventories 043 0 0
6 Fixed assets held for sale 044 0 0
7 Biological assets 045 0 0
II RECEIVABLES (ADP 047 to 052) 046 1,149,433 1,296,311
1 Receivables from undertakings within the group 047 0 0
2 Receivables from companies linked by virtue of participating interests 048 0 0
3 Customer receivables 049 494,489 741,549
4 Receivables from employees and members of the undertaking 050 24,656 8,126
5 Receivables from government and other institutions 051 220,727 85,910
6 Other receivables 052 409,561 460,726
III CURRENT FINANCIAL ASSETS (ADP 054 to 062) 053 0 0
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 059 0 0
interests
7 Investments in securities 060 0 0
8 Loans, deposits, etc. given 061 0 0
9 Other financial assets 062 0 0
IV CASH AT BANK AND IN HAND 063 2,698,079 1,526,411
D ) PREPAID EXPENSES AND ACCRUED INCOME 064 251,534 319,981
E) TOTAL ASSETS (ADP 001+002+037+064) 065 132,966,276 130,116,875
OFF-BALANCE SHEET ITEMS 066 0 0
LIABILITIES
A) CAPITAL AND RESERVES (ADP 068 to 62,847,924 58,074,655
070+076+077+083+086+089) 067
I INITIAL (SUBSCRIBED) CAPITAL 068 64,039,780 64,039,780
II CAPITAL RESERVES 069 3,371,336 3,371,336
III RESERVES FROM PROFIT (ADP 071+072-073+074+075) 070 0 0
1 Legal reserves 071 0 0
2 Reserves for treasury shares 072 0 0
3 Treasury shares and holdings (deductible item) 073 0 0
4 Statutory reserves 074 0 0
5 Other reserves 075 0 0
IV REVALUATION RESERVES 076 27,713,796 27,713,796
V FAIR VALUE RESERVES AND OTHER (ADP 078 to 082) 077 0 0
1 Financial assets at fair value through other comprehensive income
(i.e. 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
4 Other fair value reserves 081 0 0
5 Exchange differences arising from the translation of foreign
operations (consolidation) 082 0 0
VI RETAINED PROFIT OR LOSS BROUGHT FORWARD (ADP 084-
085) 083 -26,463,151 -32,276,988
1 Retained profit 084 0 0
2 Loss brought forward 085 26,463,151 32,276,988
VII PROFIT OR LOSS FOR THE BUSINESS YEAR (ADP 087-088) 086 -5,813,837 -4,773,269
1 Profit for the business year 087 0 0
2 Loss for the business year 088 5,813,837 4,773,269
VIII MINORITY (NON-CONTROLLING) INTEREST 089 0 0
B) PROVISIONS (ADP 091 to 096) 090 178,247 115,601
1 Provisions for pensions, termination benefits and similar obligations 091 64,233 64,233
2 Provisions for tax liabilities 092 0 0
3 Provisions for ongoing legal cases 093 114,014 51,368
4 Provisions for renewal of natural resources 094 0 0
5 Provisions for warranty obligations 095 0 0
6 Other provisions 096 0 0
C) LONG-TERM LIABILITIES (ADP 098 to 108) 097 59,992,240 59,871,321
1 Liabilities to undertakings within the group 098 0 0
2 Liabilities for loans, deposits, etc. of undertakings within the group 099 0 0
3 Liabilities to companies linked by virtue of participating interests 100 0 0
4 Liabilities for loans, deposits etc. of companies linked by virtue of
participating interests 101 0 0
5 Liabilities for loans, deposits etc. 102 0 0
6 Liabilities to banks and other financial institutions 103 48,007,034 48,007,034
7 Liabilities for advance payments 104 0 0
8 Liabilities to suppliers 105 0 0
9 Liabilities for securities 106 0 0
10 Other long-term liabilities 107 10,037,076 9,955,411
11 Deferred tax liability 108 1,948,130 1,908,876
D) SHORT-TERM LIABILITIES (ADP 110 to 123) 109 9,863,373 11,970,806
1 Liabilities to undertakings within the group 110 0 0
2 Liabilities for loans, deposits, etc. of undertakings within the group 111 0 0
3 Liabilities to companies linked by virtue of participating interests 112 0 0
4 Liabilities for loans, deposits etc. of companies linked by virtue of
participating interests		 113 0 0
5 Liabilities for loans, deposits etc. 114 51,863 62,613
6 Liabilities to banks and other financial institutions 115 5,218,437 5,407,997
7 Liabilities for advance payments 116 533,964 2,934,680
8 Liabilities to suppliers 117 1,466,920 1,544,745
9 Liabilities for securities 118 0 0
10 Liabilities to employees 119 879,435 557,481
11 Taxes, contributions and similar liabilities 120 360,836 323,694
12 Liabilities arising from the share in the result 121 0 0
13 Liabilities arising from fixed assets held for sale 122 0 0
14 Other short-term liabilities 123 1,351,918 1,139,596
E) ACCRUALS AND DEFERRED INCOME 124 84,492 84,492
F) TOTAL – LIABILITIES (ADP 067+090+097+109+124) 125 132,966,276 130,116,875
G) OFF-BALANCE SHEET ITEMS 126 0 0

for the period 1.1.2025. to 31.3.2025. STATEMENT OF PROFIT OR LOSS

Submitter: JADRAN d.d.-consolidated
Item ADP Same period of the previous year Current period
code Cumulative Quarter Cumulative Quarter
1 2 3 4 5 6
I OPERATING INCOME (ADP 002 to 006)
1 Income from sales with undertakings within the group		 001
002		 1,324,104
0		 1,324,104
0		 1,250,951
0		 1,250,951
0
2 Income from sales (outside group) 003 1,103,989 1,103,989 1,028,682 1,028,682
3 Income from the use of own products, goods and services 004 0 0 0 0
4 Other operating income with undertakings within the group 005 0 0 0 0
5 Other operating income (outside the group) 006 220,115 220,115 222,269 222,269
II OPERATING EXPENSES (ADP 08+009+013+017+018+019+022+029) 007 4,754,351 4,754,351 5,276,593 5,276,593
1 Changes in inventories of work in progress and finished goods 008 0 0 0 0
2 Material costs (ADP 010 to 012) 009 868,149 868,149 1,257,812 1,257,812
a) Costs of raw materials and consumables 010 457,936 457,936 489,759 489,759
b) Costs of goods sold 011 961 961 1,178 1,178
c) Other external costs 012 409,252 409,252 766,875 766,875
3 Staff costs (ADP 014 to 016) 013 1,359,106 1,359,106 1,653,147 1,653,147
a) Net salaries and wages
b) Tax and contributions from salary costs		 014 789,812 789,812 988,734 988,734
c) Contributions on salaries 015
016		 360,530
208,764		 360,530
208,764		 426,852
237,561		 426,852
237,561
4 Depreciation 017 2,185,550 2,185,550 2,017,255 2,017,255
5 Other costs 018 306,014 306,014 313,692 313,692
6 Value adjustments (ADP 020+021) 019 0 0 0 0
a) fixed assets other than financial assets 020 0 0 0 0
b) current assets other than financial assets 021 0 0 0 0
7 Provisions (ADP 023 to 028) 022 0 0 -43,645 -43,645
a) Provisions for pensions, termination benefits and similar obligations 023 0 0 0 0
b) Provisions for tax liabilities
c) Provisions for ongoing legal cases		 024 0 0 0 0
d) Provisions for renewal of natural resources 025
026		 0
0		 0
0		 -43,645
0		 -43,645
0
e) Provisions for warranty obligations 027 0 0 0 0
f) Other provisions 028 0 0 0 0
8 Other operating expenses 029 35,532 35,532 78,332 78,332
III FINANCIAL INCOME (ADP 031 to 040) 030 469 469 122 122
1 Income from investments in holdings (shares) of undertakings within 031 0 0 0 0
the group
2 Income from investments in holdings (shares) of companies linked by
virtue of participating interests 032 0 0 0 0
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 034 0 0 0 0
group
5 Exchange rate differences and other financial income from operations
with undertakings within the group 035 0 0 0 0
6 Income from other long-term financial investments and loans 036 0 0 0 0
7 Other interest income 037 469 469 122 122
8 Exchange rate differences and other financial income 038 0 0 0 0
9 Unrealised gains (income) from financial assets 039 0 0 0 0
10 Other financial income 040 0 0 0 0
IV FINANCIAL EXPENSES (ADP 042 to 048) 041 823,059 823,059 793,775 793,775
1 Interest expenses and similar expenses with undertakings within the
group		 042 0 0 0 0
2 Exchange rate differences and other expenses from operations with
undertakings within the group 043 0 0 0 0
3 Interest expenses and similar expenses 044 823,042 823,042 793,775 793,775
4 Exchange rate differences and other expenses 045 17 17 0 0
5 Unrealised losses (expenses) from financial assets 046 0 0 0 0
6 Value adjustments of financial assets (net)
7 Other financial expenses		 047
048		 0
0		 0
0		 0
0		 0
0
V SHARE IN PROFIT FROM UNDERTAKINGS LINKED BY VRITUE
OF PARTICIPATING INTERESTS 049 0 0 0 0
VI SHARE IN PROFIT FROM JOINT VENTURES 050 0 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) 053 1,324,573 1,324,573 1,251,073 1,251,073
X TOTAL EXPENDITURE (ADP 007+041+051 + 052) 054 5,577,410 5,577,410 6,070,368 6,070,368
XI PRE-TAX PROFIT OR LOSS (ADP 053-054) 055 -4,252,837 -4,252,837 -4,819,295 -4,819,295
1 Pre-tax profit (ADP 053-054) 056 0 0 0 0
2 Pre-tax loss (ADP 054-053) 057 -4,252,837 -4,252,837 -4,819,295 -4,819,295
XII INCOME TAX 058 -42,302 -42,302 -46,026 -46,026
XIII PROFIT OR LOSS FOR THE PERIOD (ADP 055-059) 059 -4,210,535 -4,210,535 -4,773,269 -4,773,269
1 Profit for the period (ADP 055-059)
2 Loss for the period (ADP 059-055)		 060
061		 0
-4,210,535		 0
-4,210,535		 0
-4,773,269		 0
-4,773,269
DISCONTINUED OPERATIONS (to be filled in by undertakings subject to IFRS only with discontinued operations)
XIV PRE-TAX PROFIT OR LOSS OF DISCONTINUED OPERATIONS 062 0 0 0 0
(ADP 063-064)
1 Pre-tax profit from discontinued operations
2 Pre-tax loss on discontinued operations		 063
064		 0
0		 0
0		 0
0		 0
0
XV INCOME TAX OF DISCONTINUED OPERATIONS 065 0 0 0 0
1 Discontinued operations profit for the period (ADP 062-065) 066 0 0 0 0
2 Discontinued operations loss for the period (ADP 065-062) 067 0 0 0 0
TOTAL OPERATIONS (to be filled in only by undertakings subject to IFRS with discontinued operations)
XVI PRE-TAX PROFIT OR LOSS (ADP 055-+062) 068 -4,210,535 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 -4,210,535 -4,210,535 -4,773,269 -4,773,269
1 Attributable to owners of the parent 076 -4,210,535 -4,210,535 -4,773,269 -4,773,269
2 Attributable to minority (non-controlling) interest 077 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 078 -4,210,535 -4,210,535 -4,773,269 -4,773,269
II OTHER COMPREHENSIVE INCOME/LOSS BEFORE TAX
(ADP 80+ 87)		 079 0 0 0 0
III Items that will not be reclassified to profit or loss (ADP 081 to 085) 080 0 0 0 0
1 Changes in revaluation reserves of fixed tangible and intangible
assets		 081 0 0 0 0
2 Gains or losses from subsequent measurement of equity instruments
at fair value through other comprehensive income		 082 0 0 0 0
3 Fair value changes of financial liabilities at fair value through
statement of profit or loss, attributable to changes in their credit risk		 083 0 0 0 0
4 Actuarial gains/losses on the defined benefit obligation 084 0 0 0 0
5 Other items that will not be reclassified 085 0 0 0 0
6 Income tax relating to items that will not be reclassified 086 0 0 0 0
IV Items that may be reclassified to profit or loss (ADP 088 to 095) 087 0 0 0 0
1 Exchange rate differences from translation of foreign operations 088 0 0 0 0
2 Gains or losses from subsequent measurement of debt securities at 089 0 0 0 0
fair value through other comprehensive income
3 Profit or loss arising from effective cash flow hedging 090 0 0 0 0
4 Profit or loss arising from effective hedge of a net investment in a
foreign operation		 091 0 0 0 0
5 Share in other comprehensive income/loss of companies linked by
virtue of participating interests		 092 0 0 0 0
6 Changes in fair value of the time value of option 093 0 0 0 0
7 Changes in fair value of forward elements of forward contracts 094 0 0 0 0
8 Other items that may be reclassified to profit or loss
095 0 0 0 0
9 Income tax relating to items that may be reclassified to profit or loss 096 0 0 0 0
V NET OTHER COMPREHENSIVE INCOME OR LOSS (ADP 080+087-
086 - 096)		 097 0 0 0 0
VI COMPREHENSIVE INCOME OR LOSS FOR THE PERIOD (ADP
078+097)		 098 -4,210,535 -4,210,535 -4,773,269 -4,773,269
APPENDIX to the Statement on comprehensive income (to be filled in by undertakings that draw up consolidated statements)
VI COMPREHENSIVE INCOME OR LOSS FOR THE PERIOD (ADP
100+101)		 099 -4,210,535 -4,210,535 -4,773,269 -4,773,269
1 Attributable to owners of the parent 100 -4,210,535 -4,210,535 -4,773,269 -4,773,269
2 Attributable to minority (non-controlling) interest 101 0 0 0 0

STATEMENT OF CASH FLOWS - indirect method for the period 1.1.2025. to 31.3.2025.

ADP code Same period of the previous year Current period 2 3 4 001 -4,252,837 -4,819,295 002 3,099,360 2,767,263 003 2,185,550 2,017,255 004 0 0 005 0 0 006 -469 -122 007 823,042 793,775 008 0 -43,645 009 0 0 010 91,237 0 011 -1,153,477 -2,052,032 012 1,223,584 1,956,415 013 2,328,026 2,035,202 014 -218,626 -146,878 015 -36,936 -8,683 016 -848,880 76,774 017 70,107 -95,617 018 -280,818 -371,641 019 0 0 020 -210,711 -467,258 021 0 2,347 022 0 0 023 469 122 024 0 0 025 0 0 026 0 0 027 469 2,469 028 -33,846 -186,995 029 0 0 030 0 0 031 0 0 032 0 0 033 -33,846 -186,995 034 -33,377 -184,526 035 0 0 036 0 0 037 2,150,000 0 038 0 0 039 2,150,000 0 040 -2,062,772 -232,574 041 0 0 IV Total cash payments from investment activities (ADP 028 to 032) B) NET CASH FLOW FROM INVESTMENT ACTIVITIES (ADP 027 +033) Cash flow from financing activities 1 Cash receipts from the increase in initial (subscribed) capital 2 Cash receipts from the issue of equity financial instruments and debt financial instruments 3 Cash receipts from credit principals, loans and other borrowings 4 Other cash receipts from financing activities 1 Cash payments for the repayment of credit principals, loans and other borrowings and debt financial instruments 2 Cash payments for dividends 1 Cash receipts from sales of fixed tangible and intangible assets 2 Cash receipts from sales of financial instruments 3 Interest received 4 Dividends received 5 Cash receipts from repayment of loans and deposits 6 Other cash receipts from investment activities Cash flow from investment activities d) Other increase or decrease in working capital II Cash from operations (ADP 011+012) 2 Cash payments for the acquisition of financial instruments V Total cash receipts from financing activities (ADP 035 to 038) 4 Acquisition of a subsidiary, net of cash acquired 5 Other cash payments from investment activities III Total cash receipts from investment activities (ADP 021 to 026) 1 Cash payments for the purchase of fixed tangible and intangible assets 3 Cash payments for loans and deposits for the period 5 Income tax paid A) NET CASH FLOW FROM OPERATING ACTIVITIES (ADP 017 to 019) g) Exchange rate differences (unrealised) c) Gains and losses from sale and unrealised gains and losses and value adjustment of financial assets Cash flow from operating activities 1 Pre-tax profit 2 Adjustments (ADP 003 to 010): a) Depreciation b) Gains and losses from sale and value adjustment of fixed tangible and intangible assets 4 Interest paid Submitter: JADRAN d.d.-consolidated a) Increase or decrease in short-term liabilities b) Increase or decrease in short-term receivables c) Increase or decrease in inventories h) Other adjustments for non-cash transactions and unrealised gains and losses I Cash flow increase or decrease before changes in working capital (ADP 001+002) 3 Changes in the working capital (ADP 013 to 016) Item 1 d) Interest and dividend income e) Interest expenses f) Provisions

3 Cash payments for finance lease 042 0 -287,310
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 0
VI Total cash payments from financing activities (ADP 040 to 044) 045 -2,062,772 -519,884
C) NET CASH FLOW FROM FINANCING ACTIVITIES (ADP 039 +045) 046 87,228 -519,884
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 -156,860 -1,171,668
E) CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE
PERIOD		 049 1,769,127 2,698,079
F) CASH AND CASH EQUIVALENTS AT THE END OF THE
PERIOD(ADP 048+049)		 050 1,612,267 1,526,411

STATEMENT OF CHANGES IN EQUITY

for the period from
1.1.2025
to		 31.3.2025 in EUR
Attributable to owners of the parent
Fair value of
financial assets		 Hedge of a net Exchange rate Minority (non
Item ADP
code		 Initial (subscribed) Capital reserves Legal reserves Reserves for Treasury shares and
holdings		 Statutory reserves Other reserves Revaluation through other Cash flow hedge - investment in a Other fair value differences from Retained profit /
loss brought		 Profit/loss for the Total attributable to controlling) Total capital and
reserves
capital treasury shares (deductible item) reserves comprehensive effective portion foreign operation - reserves translation of forward business year owners of the parent interest
income (available
for sale)		 effective portion foreign operations
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 (3 to 6 - 7
+ 8 to 17)		 19 20 (18+19)
Previous period
1 Balance on the first day of the previous business year 01 64,039,780 3,371,336 0
0		 0 0 0 27,713,796 0 0 0 0 0 -26,463,151 0 68,661,761 0 68,661,761
2 Changes in accounting policies 02 0 0 0
0		 0 0 0 0 0 0 0 0 0 0 0 0 0 0
3 Correction of errors
4 Balance on the first day of the previous business year (restated) (ADP 01 to		 03 0 0 0
0		 0 0 0 0 0 0 0 0 0 0 0 0 0 0
03) 04 64,039,780 3,371,336 0
0		 0 0 0 27,713,796 0 0 0 0 0 -26,463,151 0 68,661,761 0 68,661,761
5 Profit/loss of the period 05 0 0 0
0		 0 0 0 0 0 0 0 0 0 0 -5,813,837 -5,813,837 0 -5,813,837
6 Exchange rate differences from translation of foreign operations 06 0 0 0
0		 0 0 0 0 0 0 0 0 0 0 0 0 0 0
7 Changes in revaluation reserves of fixed tangible and intangible assets 07 0 0 0
0		 0 0 0 0 0 0 0 0 0 0 0 0 0 0
8 Gains or losses from subsequent measurement of financial assets at fair value
through other comprehensive income (available for sale) 08 0 0 0
0		 0 0 0 0 0 0 0 0 0 0 0 0 0 0
9 Profit or loss arising from effective cash flow hedge 09 0 0 0
0		 0 0 0 0 0 0 0 0 0 0 0 0 0 0
10 Profit or loss arising from effective hedge of a net investment in a foreign operation 10 0 0 0
0		 0 0 0 0 0 0 0 0 0 0 0 0 0 0
11 Share in other comprehensive income/loss of companies linked by virtue of
participating interests 11 0 0 0
0		 0 0 0 0 0 0 0 0 0 0 0 0 0 0
12 Actuarial gains/losses on the defined benefit obligation 12 0 0 0
0		 0 0 0 0 0 0 0 0 0 0 0 0 0 0
13 Other changes in equity unrelated to owners 13 0 0 0
0		 0 0 0 0 0 0 0 0 0 0 0 0 0 0
14 Tax on transactions recognised directly in equity 14 0 0 0
0		 0 0 0 0 0 0 0 0 0 0 0 0 0 0
15 Decrease in initial (subscribed) capital (other than arising from the pre-bankruptcy
settlement procedure or from the reinvestment of profit)		 15 0 0 0
0		 0 0 0 0 0 0 0 0 0 0 0 0 0 0
16 Decrease in initial (subscribed) capital arising from the pre-bankruptcy settlement
procedure 16 0 0 0
0		 0 0 0 0 0 0 0 0 0 0 0 0 0 0
17 Decrease in initial (subscribed) capital arising from the reinvestment of profit 17 0 0 0
0		 0 0 0 0 0 0 0 0 0 0 0 0 0 0
18 Redemption of treasury shares/holdings
19 Payments from members/shareholders		 18
19		 0
0		 0
0		 0
0
0
0		 0
0		 0
0		 0
0		 0
0		 0
0		 0
0		 0
0		 0
0		 0
0		 0
0		 0
0		 0
0		 0
0		 0
0
20 Payment of share in profit/dividend 20 0 0 0
0		 0 0 0 0 0 0 0 0 0 0 0 0 0 0
21 Other distributions and payments to members/shareholders 21 0 0 0
0		 0 0 0 0 0 0 0 0 0 0 0 0 0 0
22 Transfer to reserves according to the annual schedule 22 0 0 0
0		 0 0 0 0 0 0 0 0 0 0 0 0 0 0
23 Increase in reserves arising from the pre-bankruptcy settlement procedure
24 Balance on the last day of the previous business year reporting period (ADP		 23 0 0 0
0		 0 0 0 0 0 0 0 0 0 0 0 0 0 0
04 to 23) 24 64,039,780 3,371,336 0
0		 0 0 0 27,713,796 0 0 0 0 0 -26,463,151 -5,813,837 62,847,924 0 62,847,924
APPENDIX TO THE STATEMENT OF CHANGES IN EQUITY (to be filled in by undertakings that draw up financial statements in accordance with the IFRS)
I OTHER COMPREHENSIVE INCOME OF THE PREVIOUS PERIOD, NET OF 25 0 0 0
0		 0 0 0 0 0 0 0 0 0 0 0 0 0 0
TAX (ADP 06 to 14)
II COMPREHENSIVE INCOME OR LOSS FOR THE PREVIOUS PERIOD (ADP 26 0 0 0
0		 0 0 0 0 0 0 0 0 0 0 -5,813,837 -5,813,837 0 -5,813,837
05+25)
III TRANSACTIONS WITH OWNERS IN THE PREVIOUS PERIOD RECOGNISED 27 0 0 0
0		 0 0 0 0 0 0 0 0 0 0 0 0 0 0
DIRECTLY IN EQUITY (ADP 15 to 23)
Current period
1 Balance on the first day of the current business year
2 Changes in accounting policies 28
29		 64,039,780
0		 3,371,336
0		 0
0
0
0		 0
0		 0
0		 0
0		 27,713,796
0		 0
0		 0
0		 0
0		 0
0		 0
0		 -32,276,988
0		 0
0		 62,847,924
0		 0
0		 62,847,924
0
3 Correction of errors 30 0 0 0
0		 0 0 0 0 0 0 0 0 0 0 0 0 0 0
4 Balance on the first day of the current business year (restated) (AOP 28 to 30) 31 64,039,780 3,371,336 0
0		 0 0 0 27,713,796 0 0 0 0 0 -32,276,988 0 62,847,924 0 62,847,924
5 Profit/loss of the period 32 0 0 0
0		 0 0 0 0 0 0 0 0 0 0 -4,773,269 -4,773,269 0 -4,773,269
6 Exchange rate differences from translation of foreign operations 33 0 0 0
0		 0 0 0 0 0 0 0 0 0 0 0 0 0 0
7 Changes in revaluation reserves of fixed tangible and intangible assets 34 0 0 0
0		 0 0 0 0 0 0 0 0 0 0 0 0 0 0
8 Gains or losses from subsequent measurement of financial assets at fair value
through other comprehensive income (available for sale)		 35 0 0 0
0		 0 0 0 0 0 0 0 0 0 0 0 0 0 0
9 Profit or loss arising from effective cash flow hedge 36 0 0 0
0		 0 0 0 0 0 0 0 0 0 0 0 0 0 0
10 Profit or loss arising from effective hedge of a net investment in a foreign operation 37 0 0 0
0		 0 0 0 0 0 0 0 0 0 0 0 0 0 0
11 Share in other comprehensive income/loss of companies linked by virtue of
participating interests		 38 0 0 0
0		 0 0 0 0 0 0 0 0 0 0 0 0 0 0
12 Actuarial gains/losses on the defined benefit obligation 39 0 0 0
0		 0 0 0 0 0 0 0 0 0 0 0 0 0 0
13 Other changes in equity unrelated to owners 40 0 0 0
0		 0 0 0 0 0 0 0 0 0 0 0 0 0 0
14 Tax on transactions recognised directly in equity 41 0 0 0
0		 0 0 0 0 0 0 0 0 0 0 0 0 0 0
15 Decrease in initial (subscribed) capital (other than arising from the pre-bankruptcy
settlement procedure or from the reinvestment of profit)		 42 0 0 0
0		 0 0 0 0 0 0 0 0 0 0 0 0 0 0
16 Decrease in initial (subscribed) capital arising from the pre-bankruptcy settlement 43 0 0 0
0		 0 0 0 0 0 0 0 0 0 0 0 0 0 0
procedure
17 Decrease in initial (subscribed) capital arising from the reinvestment of profit 44 0 0 0
0		 0 0 0 0 0 0 0 0 0 0 0 0 0 0
18 Redemption of treasury shares/holdings 45 0 0 0
0		 0 0 0 0 0 0 0 0 0 0 0 0 0 0
19 Payments from members/shareholders 46 0 0 0
0		 0 0 0 0 0 0 0 0 0 0 0 0 0 0
20 Payment of share in profit/dividend
21 Other distributions and payments to members/shareholders		 47
48		 0
0		 0
0		 0
0
0
0		 0
0		 0
0		 0
0		 0
0		 0
0		 0
0		 0
0		 0
0		 0
0		 0
0		 0
0		 0
0		 0
0		 0
0
22 Carryforward per annual plane 49 0 0 0
0		 0 0 0 0 0 0 0 0 0 0 0 0 0 0
23 Increase in reserves arising from the pre-bankruptcy settlement procedure 50 0 0 0
0		 0 0 0 0 0 0 0 0 0 0 0 0 0 0
24 Balance on the last day of the current business year reporting period (ADP 51 64,039,780 3,371,336 0
0		 0 0 0 27,713,796 0 0 0 0 0 -32,276,988 -4,773,269 58,074,655 0 58,074,655
31 to 50)
APPENDIX TO THE STATEMENT OF CHANGES IN EQUITY (to be filled in by undertakings that draw up financial statements in accordance with the IFRS)
I OTHER COMPREHENSIVE INCOME FOR THE CURRENT PERIOD, NET OF
TAX (ADP 33 to 41) 52 0 0 0
0		 0 0 0 0 0 0 0 0 0 0 0 0 0 0
II COMPREHENSIVE INCOME OR LOSS FOR THE CURRENT PERIOD (ADP 32
do 52) 53 0 0 0
0		 0 0 0 0 0 0 0 0 0 0 -4,773,269 -4,773,269 0 -4,773,269
III TRANSACTIONS WITH OWNERS IN THE CURRENT PERIOD RECOGNISED
DIRECTLY IN EQUITY (ADP 42 to 50)		 54 0 0 0
0		 0 0 0 0 0 0 0 0 0 0 0 0 0 0

NOTES TO FINANCIAL STATEMENTS - TFI (drawn up for quarterly reporting periods)

Name of the issuer: JADRAN d.d.

Personal identification number (OIB): 56994999963

Reporting period: 1.1.2025.-.31.3.2025.

Notes to financial statements for quarterly periods include:

a) explanation of business events relevant to understanding changes in the statement of financial position and financial performance for the reporting semi-annual period of the issuer with respect to the last business year: information is provided regarding these events and relevant information published in the last annual financial statement is updated (items 15 to 15C IAS 34 - Interim financial reporting)

b) information on the access to the latest annual financial statements, for the purpose of understanding information published in the notes to financial statements drawn up for the semi-annual reporting period

c) a statement explaining that the same accounting policies are applied while drawing up financial statements for the semi-annual reporting period as in the latest annual financial statements or, in the case where the accounting policies have changed, a description of the nature and effect of the changes (item 16.A (a) IAS 34 - Interim financial reporting)

d) a description of the financial performance in the case of the issuer whose business is seasonal (items 37 and 38 IAS 34 - Interim financial reporting)

e) other comments prescribed by IAS 34 - Interim financial reporting

f) in the notes to quarterly periods financial statements, in addition to the information stated above, information in respect of the following matters shall be disclosed: 1. undertaking's name, registered office (address), legal form, country of establishment, entity's registration number and, if applicable, the indication whether the undertaking is undergoing liquidation, bankruptcy proceedings, shortened termination proceedings or extraordinary administration

  1. adopted accounting policies (only an indication of whether there has been a change from the previous period)

  2. the total amount of any financial commitments, guarantees or contingencies that are not included in the balance sheet, and an indication of the nature and form of any valuable security which has been provided; any commitments concerning pensions of the undertaking within the group or company linked by virtue of participating interest shall be disclosed separately

  3. the amount and nature of individual items of income or expenditure which are of exceptional size or incidence

  4. amounts owed by the undertaking and falling due after more than five years, as well as the total debts of the undertaking covered by valuable security furnished by the undertaking, specifying the type and form of security

  5. average number of employees during the financial year

  6. where, in accordance with the regulations, the undertaking capitalised on the cost of salaries in part or in full, information on the amount of the total cost of employees during the year broken down into the amount directly debiting the costs of the period and the amount capitalised on the value of the assets during the period, showing separately the total amount of net salaries and the amount of taxes, contributions from salaries and contributions on salaries

  7. where a provision for deferred tax is recognised in the balance sheet, the deferred tax balances at the end of the financial year, and the movement in those balances during the financial year

  8. the name and registered office of each of the undertakings in which the undertaking, either itself or through a person acting in their own name but on the undertaking's behalf, holds a participating interest, showing the proportion of the capital held, the amount of capital and reserves, and the profit or loss for the latest financial year of the undertaking concerned for which financial statements have been adopted; the information concerning capital and reserves and the profit or loss may be omitted where the undertaking concerned does not publish its balance sheet and is not controlled by another undertaking

  9. the number and the nominal value or, in the absence of a nominal value, the accounting par value of the shares subscribed during the financial year within the limits of the authorised capital

  10. the existence of any participation certificates, convertible debentures, warrants, options or similar securities or rights, with an indication of their number and the rights they confer

  11. the name, registered office and legal form of each of the undertakings of which the undertaking is a member having unlimited liability

  12. the name and registered office of the undertaking which draws up the consolidated financial statements of the largest group of undertakings of which the undertaking forms part as a controlled group member

  13. the name and registered office of the undertaking which draws up the consolidated financial statements of the smallest group of undertakings of which the undertaking forms part as a controlled group member and which is also included in the group of undertakings referred to in point 13

  14. the place where copies of the consolidated financial statements referred to in points 13 and 14 may be obtained, provided that they are available

  15. the nature and business purpose of the undertaking's arrangements that are not included in the balance sheet and the financial impact on the undertaking of those arrangements, provided that the risks or benefits arising from such arrangements are material and in so far as the disclosure of such risks or benefits is necessary for the purposes of assessing the financial position of the undertaking

10. STATEMENT BY PERSONS RESPONSIBLE FOR THE PREPARATION OF THE QUARTERLY REPORT

More from Jadran d.d.

Quarterly Report 2025
Oct 29
Financial Supplement Data 2025
Oct 29
Quarterly Report 2025
Oct 29
Financial Supplement Data 2025
Oct 29
Quarterly Report 2025
Oct 29
Financial Supplement Data 2025
Oct 29
Financial Supplement Data 2025
Oct 29
Quarterly Report 2025
Oct 29
Report Publication Announcement 2025
Oct 29
Report Publication Announcement 2025
Oct 29
View all filings →

Talk to a Data Expert

Have a question? We'll get back to you promptly.