Viro Tvornica ŠEĆERA d.d.

Quarterly Report • May 29, 2020

STATEMENT OF PERSON RESPONSIBLE FOR PRODUCTION OF THE THREE-MONTH REPORT FOR 10 2020

With this statement, in compliance with article 410 of the Law on capital market, I state that to the best of our knowledge

• the set of financial reports of VIRO TVORNICA SECERA d.d., Zagreb for $\overline{a}$ the period I-III 2020, produced by applying International standards of financial reporting and in compliance with the Croatian Law on Accounting, provides an integral and true overview of assets and liabilities, loss and profit, financial position and operations of the company.
• the Management report contains a true overview of business results and position of the company, with a description of the most significant risks and uncertanties to which the company is exposed.
• the quarterly financial reports are not audited.

In Virovitica, on May 26, 2020

RESPONSIBLE PERSON

PRESIDENT OF THE MANAGEMENT BOARD:

TVORNICA ŠEĆERA d.d. 7

Željko Zadro, dipl.oec

Ivo Rešić, Member of the Management Board

Darko Krstić, Member of the Management Board

		ISSUER'S GENERAL DATA
Reporting period:		01.01.2020.	to	31.03.2020.
Year:		2019
Quarter:		1
		Quarterly financial statements
egistration number (MB):	01650971		Issuer's home Member State code:	HR
Entity's registration number (MBS):	010049135
Personal identification number (OIB):	04525204420		LEI:	5493006LGN8RLWC2UL05
Institution code:	1569
Name of the issuer: VIRO TVORNICA ŠEĆERA d.d.
Postcode and town:	10000		ZAGREB
reet and house number: ULICA GRADA VUKOVARA 269 g
	E-mail address: viro@secerana.hr
	Web address: www.secerana.hr
Number of employees	9
(end of the reporting
Consolidated report:	KN	(KN-not consolidated/KD-consolidated)
Audited:	RN	(RN-not audited/RD-audited)
Names of subsidiaries (according to IFRS):			Registered office:		MB:
Bookkeeping firm:		(Yes/No)
Contact person: ZDENKA SMOJVER				(name of the bookkeeping firm)
		(only name and surname of the contact person)
Telephone: 033 840 122
	E-mail address: racunovodstvo-viro@secerana.hr
Audit firm:	(name of the audit firm)

BALANCE SHEET balance as at 31.03.2020

Last day of the At the reporting date ADP Item preceding business of the current period code vear $\mathbf{1}$ $\overline{2}$ $\overline{\mathbf{3}}$ $\boldsymbol{A}$ A) RECEIVABLES FOR SUBSCRIBED CAPITAL UNPAID 001 $\Omega$ B) FIXED ASSETS (ADP 003+010+020+031+036) 002 539.123.292 540.122.202 I INTANGIBLE ASSETS (ADP 004 to 009) 003 $\overline{0}$ 1 Research and development 004 $\mathbf{0}$ 2 Concessions, patents, licences, trademarks, software and other 005 0 0 rights 3 Goodwill 006 $\mathbf{0}$ 0 4 Advances for the purchase of intangible assets $\mathbf 0$ 007 0 5 Intangible assets in preparation $\mathbf{0}$ 008 0 6 Other intangible assets 009 $\Omega$ II TANGIBLE ASSETS (ADP 011 to 019) 010 65.191.679 65.811.646 1 Land 011 23.538.630 23.538.630 2 Buildings 012 1.824.100 1.753.638 3 Plant and equipment 013 2.384.080 2.344.964 4 Tools, working inventory and transportation assets 014 $\Omega$ 5 Biological assets 015 $\Omega$ 6 Advances for the purchase of tangible assets 33.930.280 016 34.690.032 7 Tangible assets in preparation 017 2.230.095 2.230.095 8 Other tangible assets 9.300 018 9.300 9 Investment property 019 1.275.194 1.244.987 III FIXED FINANCIAL ASSETS (ADP 021 to 030) 020 473.931.613 474.310.556 1 Investments in holdings (shares) of undertakings within the group 021 407.586.783 407.595.286 2 Investments in other securities of undertakings within the group 022 $\Omega$ 3 Loans, deposits, etc. to undertakings within the group 63.021.922 023 63.373.432 4. Investments in holdings (shares) of companies linked by virtue of 024 participating interests 5 Investment in other securities of companies linked by virtue of 025 0 participating interests 6 Loans, deposits etc. to companies linked by virtue of participating 026 U interests 7 Investments in securities 17.908 027 18.309 8 Loans, deposits, etc. given 3.305.000 028 3.323.529 9 Other investments accounted for using the equity method 029 0 10 Other fixed financial assets 030 0 0 IV RECEIVABLES (ADP 032 to 035) 031 $\overline{0}$ $\overline{0}$ 1 Receivables from undertakings within the group 032 $\overline{0}$ 0 2 Receivables from companies linked by virtue of participating 033 0 $\circ$ interests 3 Customer receivables 034 0 0 4 Other receivables 035 $\overline{0}$ 0 V DEFERRED TAX ASSETS 036 $\Omega$ C) CURRENT ASSETS (ADP 038+046+053+063) 037 320.845.210 295.483.663 I INVENTORIES (ADP 039 to 045) 038 28.212.969 7.169.165 1 Raw materials and consumables 039 536.944 457.562 2 Work in progress 040 3 Finished goods 7.687.154 041 4.300.722 4 Merchandise 042 18.727.690 2.252.303 5 Advances for inventories 043 1.261.181 158.578 6 Fixed assets held for sale 044 0 7 Biological assets 045 0 II RECEIVABLES (ADP 047 to 052) 046 80.285.191 73.947.002 1 Receivables from undertakings within the group 047 67.013.639 66.228.268 2 Receivables from companies linked by virtue of participating 048 O interests 3 Customer receivables 10.247.084 049 7.458.665	Submitter: VIRO TVORNICA ŠEĆERA d.d.
			0

in HRK

$\mathbf{0}$	8.500
2.491.595	37.219
532.873	214.350
210.520.857	213.243.048
$\Omega$
$\Omega$
207.690.998	211.922.424
0
0
0
0
2.829.859	1.320.624
$\Omega$
1.826.193	1.124.448
73.778
860.042.280	835.605.865
32.571.803	19.697.607
631.887.468	629.276.031
249.600.060	249.600.060
10.368.102	10.368.101
51.100.618	51.100.618
12.480.003	12.480.003
38.620.615	38.620.615
0
$\mathbf 0$
$\mathbf 0$	0
0	$\Omega$
$\overline{0}$
0	0
$\mathbf 0$	$\Omega$
$\Omega$	O
219.256.394	320.818.688
219.256.394	320.818.688
$\Omega$
101.562.294	$-2.611.436$
101.562.294	0
$\Omega$	2.611.436
$\Omega$
7.450.057	7.450.057
0
$\mathbf 0$
$\mathbf{0}$
$\mathbf{0}$
$\mathbf{O}$
7.450.057	7.450.057
$\overline{0}$
$\overline{0}$
0
$\circ$
0
0	0
	$\Omega$
	0
	$\Omega$
	$\mathbf 0$ $\overline{0}$ $\Omega$

9 Liabilities for securities	104	0	$\mathbf{0}$
10 Other long-term liabilities	105	0	$\overline{0}$
11 Deferred tax liability	106		$\Omega$
D) SHORT-TERM LIABILITIES (ADP 108 to 121)	107	220.560.841	198.866.169
1 Liabilities to undertakings within the group	108	1.560.347	1.234.851
2 Liabilities for loans, deposits, etc. of undertakings within the group	109		$\Omega$
3 Liabilities to companies linked by virtue of participating interests	110	0	$\Omega$
4 Liabilities for loans, deposits etc. of companies linked by virtue of participating interests	111		0
5 Liabilities for loans, deposits etc.	112	19.363.109	19.363.108
6 Liabilities to banks and other financial institutions	113
7 Liabilities for advance payments	114	6.944.781	6.285.571
8 Liabilities to suppliers	115	133.818.512	111.808.607
9 Liabilities for securities	116
10 Liabilities to employees	117	164.390	145.351
11 Taxes, contributions and similar liabilities	118	624.287	651.729
12 Liabilities arising from the share in the result	119	30.963	30.963
13 Liabilities arising from fixed assets held for sale	120
14 Other short-term liabilities	121	58.054.452	59.345.989
E) ACCRUALS AND DEFERRED INCOME	122	143.914	13.608
F) TOTAL - LIABILITIES (ADP 067+088+095+107+122)	123	860.042.280	835.605.865
G) OFF-BALANCE SHEET ITEMS	124	32.571.803	19.697.607

STATEMENT OF PROFIT OR LOSS for the period 01.01.2020 to 31.03.2020

Submitter: VIRO TVORNICA ŠEĆERA d.d.

Item	ADP		Same period of the previous year		Current period
	code	Cumulative	Quarter	Cumulative	Quarter
	$\overline{2}$	3	$\overline{4}$	5	6
OPERATING INCOME (ADP 126 to 130)	125	90.828.179	90.828.179	9.551.612	9.551.612
1 Income from sales with undertakings within the group	126	8.202.282	8.202.282	$\Omega$	$\Omega$
2 Income from sales (outside group)	127	80.392.088	80.392.088	9.070.844	9.070.844
3 Income from the use of own products, goods and services	128	11.005	11.005	8.720	8.720
4 Other operating income with undertakings within the group	129	$\Omega$	$\Omega$		O
5 Other operating income (outside the group)	130	2.222.804	2.222.804	472.048	472.048
Il OPERATING EXPENSES (ADP 132+133+137+141+142+143+146+153)	131	91.172.959	91.172.959	13.668.284	13.668.284
1 Changes in inventories of work in progress and finished goods	132	17.418.050	17.418.050	3.386.431	3.386.431
2 Material costs (ADP 134 to 136)	133	61.564.961	61.564.961	8.853.123	8.853.123
a) Costs of raw materials and consumables	134	2.456.468	2.456.468	109.778	109.778
b) Costs of goods sold	135	53.855.601	53.855.601	6.049.633	6.049.633
c) Other external costs	136	5.252.892	5.252.892	2.693.712	2.693.712
3 Staff costs (ADP 138 to 140)	137	5.500.996	5.500.996	750.298	750.298
a) Net salaries and wages	138	3.510.487	3.510.487	415.060	415.060
b) Tax and contributions from salary costs	139	1.259.727	1.259.727	228.973	228.973
c) Contributions on salaries	140	730.782	730.782	106.265	106.265
4 Depreciation	141	4.605.200	4.605.200	294.645	294.645
5 Other costs	142	1.406.392	1.406.392	270.733	270.733
6 Value adjustments (ADP 144+145)	143	$\mathbf{0}$	$\bf{0}$	$\overline{0}$	$\mathbf 0$
a) fixed assets other than financial assets	144	$\mathbf{0}$	$\overline{0}$	$\mathbf{0}$	$\mathbf 0$
b) current assets other than financial assets	145	$\mathbf 0$	$\mathbf 0$	0	$\mathbf 0$
7 Provisions (ADP 147 to 152)	146	$\overline{0}$	$\bf{0}$	$\bf{0}$	$\circ$
a) Provisions for pensions, termination benefits and similar obligations	147	$\mathbf 0$	$\mathbf{0}$	$\mathbf 0$	$\circ$
b) Provisions for tax liabilities	148	$\mathbf 0$	$\mathbf 0$	$\mathbf 0$	$\mathbf 0$
c) Provisions for ongoing legal cases	149	$\mathbf 0$	$\mathbf 0$	$\mathbf 0$	$\mathbf 0$
d) Provisions for renewal of natural resources	150	$\mathbf 0$	$\mathbf 0$	0	$\circ$
e) Provisions for warranty obligations	151 152	$\mathbf 0$ $\Omega$	$\mathbf 0$ $\Omega$	0 $\Omega$	$\mathbf 0$
f) Other provisions					$\mathbf{0}$
8 Other operating expenses III FINANCIAL INCOME (ADP 155 to 164)	153 154	677.360 9.936.335	677.360 9.936.335	113.054 3.618.809	113.054
1 Income from investments in holdings (shares) of undertakings within					3.618.809
the group	155	0	0	0	$\mathbf{0}$
2 Income from investments in holdings (shares) of companies linked by	156	0	$\circ$	0	$\theta$
virtue of participating interests
3 Income from other long-term financial investment and loans granted to undertakings within the group	157	0	$\mathbf 0$	0	0
4 Other interest income from operations with undertakings within the	158	3.140.409	3.140.409	3.298.205	3.298.205
group
5 Exchange rate differences and other financial income from operations with undertakings within the group	159	0	0	0	$\mathbf 0$
6 Income from other long-term financial investments and loans	160	$\Omega$	$\Omega$	$\Omega$	$\Omega$
7 Other interest income	161	122.537	122.537	37.865	37.865
8 Exchange rate differences and other financial income	162	99.755	99.755	282.739	282.739
9 Unrealised gains (income) from financial assets	163	0	$\Omega$	$\Omega$	$\mathbf 0$
10 Other financial income	164	6.573.634	6.573.634	$\mathbf{0}$	$\circ$
IV FINANCIAL EXPENSES (ADP 166 to 172)	165	4.064.957	4.064.957	2.113.573	2.113.573
1 Interest expenses and similar expenses with undertakings within the	166		0	9.750	9.750
group 2 Exchange rate differences and other expenses from operations with
undertakings within the group	167	$\Omega$	$\Omega$	0	$\Omega$
3 Interest expenses and similar expenses	168	3.102.105	3.102.105	397.939	397.939
4 Exchange rate differences and other expenses	169	503.772	503.772	1.705.884	1.705.884
5 Unrealised losses (expenses) from financial assets	170	$\Omega$	$\Omega$	0	$\theta$
6 Value adjustments of financial assets (net)	171			$\mathbf 0$	$\mathbf 0$
7 Other financial expenses	172	459.080	459.080	$\mathbf{0}$	$\mathbf{0}$
V SHARE IN PROFIT FROM UNDERTAKINGS LINKED BY VRITUE OF	173	$\mathbf 0$	$\circ$	0	$\mathbf 0$
PARTICIPATING INTERESTS VI SHARE IN PROFIT FROM JOINT VENTURES	174	$\mathbf{0}$	$\circ$	0	$\mathbf 0$
VII SHARE IN LOSS OF COMPANIES LINKED BY VIRTUE OF
PARTICIPATING INTEREST	175	0	$\circ$	0	0
VIII SHARE IN LOSS OF JOINT VENTURES	176	$\mathbf{0}$	$\mathbf{0}$	0	$\mathbf 0$
IX TOTAL INCOME (ADP 125+154+173 + 174)	177	100.764.514	100.764.514	13.170.421	13.170.421
X TOTAL EXPENDITURE (ADP 131+165+175 + 176)	178	95.237.916	95.237.916	15.781.857	15.781.857
XI PRE-TAX PROFIT OR LOSS (ADP 177-178)	179	5.526.598	5.526.598	$-2.611.436$	$-2.611.436$
1 Pre-tax profit (ADP 177-178)	180	5.526.598	5.526.598	$\overline{0}$	$\overline{0}$

in HRK

2 Pre-tax loss (ADP 178-177)	181	$\overline{0}$	$\overline{0}$	$-2.611.436$	$-2.611.436$
XII INCOME TAX	182	$\Omega$	$\Omega$	$\Omega$	$\Omega$
XIII PROFIT OR LOSS FOR THE PERIOD (ADP 179-182)	183	5.526.598	5.526.598	$-2.611.436$	$-2.611.436$
1 Profit for the period (ADP 179-182)	184	5.526.598	5.526.598	$\Omega$	$\mathbf{0}$
2 Loss for the period (ADP 182-179)	185		$\overline{0}$	$-2.611.436$	$-2.611.436$
DISCONTINUED OPERATIONS (to be filled in by undertakings subject to IFRS only with discontinued operations)
XIV PRE-TAX PROFIT OR LOSS OF DISCONTINUED OPERATIONS	186		$\overline{0}$	$\overline{0}$	$\overline{0}$
(ADP 187-188)
1 Pre-tax profit from discontinued operations	187	$\mathbf 0$	$\mathbf 0$	$\mathbf{0}$	$\mathbf{0}$
2 Pre-tax loss on discontinued operations	188	$\overline{0}$	$\mathbf 0$	$\mathbf 0$	$\mathbf{0}$
XV INCOME TAX OF DISCONTINUED OPERATIONS	189	$\overline{0}$	$\mathbf{0}$	$\mathbf 0$	$\overline{0}$
1 Discontinued operations profit for the period (ADP 186-189)	190	$\overline{0}$	$\overline{0}$	$\overline{0}$	$\overline{0}$
2 Discontinued operations loss for the period (ADP 189-186)	191	$\overline{0}$	$\overline{0}$	$\overline{0}$	$\bf{0}$
TOTAL OPERATIONS (to be filled in only by undertakings subject to IFRS with discontinued operations
XVI PRE-TAX PROFIT OR LOSS (ADP 179+186)	192	$\overline{0}$	$\overline{0}$	$\overline{0}$	$\overline{0}$
1 Pre-tax profit (ADP 192)	193	$\mathbf 0$	$\overline{0}$	$\overline{0}$	$\overline{0}$
2 Pre-tax loss (ADP 192)	194	$\overline{0}$	$\overline{0}$	$\overline{0}$	$\overline{0}$
XVII INCOME TAX (ADP 182+189)	195	$\overline{0}$	$\overline{0}$	$\overline{0}$	$\overline{0}$
XVIII PROFIT OR LOSS FOR THE PERIOD (ADP 192-195)	196	$\overline{0}$	$\overline{0}$	$\overline{0}$	$\overline{0}$
1 Profit for the period (ADP 192-195)	197	$\overline{0}$	$\overline{0}$	$\overline{0}$	$\overline{0}$
2 Loss for the period (ADP 195-192)	198	$\Omega$	$\overline{0}$	$\overline{0}$	$\overline{0}$
APPENDIX to the P&L (to be filled in by undertakings that draw up consolidated annual financial statements)
XIX PROFIT OR LOSS FOR THE PERIOD (ADP 200+201)	199	$\Omega$	$\overline{0}$	$\overline{0}$	$\overline{0}$
1 Attributable to owners of the parent	200	$\mathbf 0$	$\mathbf 0$	$\mathbf{0}$	$\mathbf{0}$
2 Attributable to minority (non-controlling) interest	201	$\overline{0}$	$\overline{0}$	$\overline{0}$	$\Omega$
STATEMENT OF OTHER COMPRHENSIVE INCOME (to be filled in by undertakings subject to IFRS)
I PROFIT OR LOSS FOR THE PERIOD	202	5.526.598	5.526.598	$-2.611.436$	$-2.611.436$
II OTHER COMPREHENSIVE INCOME/LOSS BEFORE TAX	203	$\overline{0}$	$\Omega$	$\Omega$	$\mathbf{0}$
(ADP 204 to 211)
1 Exchange rate differences from translation of foreign operations	204	0	$\mathbf{0}$	$\mathbf{0}$	$\mathbf{0}$
2 Changes in revaluation reserves of fixed tangible and intangible assets	205	0	$\mathbf{0}$	$\mathbf{0}$	$\mathbf{0}$
3 Profit or loss arising from subsequent measurement of financial assets available for sale	206	0	$\mathbf{0}$	$\Omega$	$\mathbf{0}$
4 Profit or loss arising from effective cash flow hedging	207	$\mathbf 0$	0	$\Omega$	$\Omega$
5 Profit or loss arising from effective hedge of a net investment in a	208	$\mathbf 0$	$\mathbf{0}$	$\Omega$	$\overline{0}$
foreign operation 6 Share in other comprehensive income/loss of companies linked by
virtue of participating interests	209	$\overline{0}$	$\Omega$	$\Omega$	$\overline{0}$
7 Actuarial gains/losses on the defined benefit obligation	210	$\mathbf 0$	$\mathbf 0$	$\mathbf 0$	$\overline{0}$
8 Other changes in equity unrelated to owners	211	$\Omega$	$\Omega$	$\Omega$	$\Omega$
III TAX ON OTHER COMPREHENSIVE INCOME FOR THE PERIOD	212	$\overline{0}$	$\overline{0}$	$\Omega$	$\overline{0}$
IV NET OTHER COMPREHENSIVE INCOME OR LOSS (ADP 203-212)	213	$\overline{0}$	O	$\Omega$	$\Omega$
V COMPREHENSIVE INCOME OR LOSS FOR THE PERIOD (ADP $202+213$	214	5.526.598	5.526.598	$-2.611.436$	$-2.611.436$
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
$216+217$	215	$\Omega$	0	$\overline{0}$	$\overline{0}$
1 Attributable to owners of the parent	216	$\mathbf{0}$	$\overline{0}$	$\overline{0}$	$\Omega$
2 Attributable to minority (non-controlling) interest	217	$\Omega$			$\Omega$

STATEMENT OF CASH FLOWS - indirect method for the period 01.01.2020 . to 31.03.2020.

Submitter: VIRO TVORNICA ŠEĆERA d.d.
Item	ADP code	Same period of the previous year	Current period
	$\overline{2}$	3	4
Cash flow from operating activities
1 Pre-tax profit	001	5.526.598	$-2.611.436$
2 Adjustments (ADP 003 to 010):	002	4.605.200	294.645
a) Depreciation	003	4.605.200	294.645
b) Gains and losses from sale and value adjustment of fixed tangible and	004
intangible assets
c) Gains and losses from sale and unrealised gains and losses and value adjustment of financial assets	005	0	0
d) Interest and dividend income	006	0	0
e) Interest expenses	007	0	$\mathbf{0}$
f) Provisions	008	$\Omega$	$\mathbf{0}$
g) Exchange rate differences (unrealised)	009	$\Omega$	$\Omega$
h) Other adjustments for non-cash transactions and unrealised gains and
losses	010	$\Omega$	0
I Cash flow increase or decrease before changes in working capital (ADP 001+002)	011	10.131.798	$-2.316.791$
3 Changes in the working capital (ADP 013 to 016)	012	12.729.321	2.689.245
a) Increase or decrease in short-term liabilities	013	3.591.392	$-21.904.422$
b) Increase or decrease in short-term receivables	014	6.001.577	6.338.189
c) Increase or decrease in inventories	015	273.747	21.043.804
d) Other increase or decrease in working capital	016	2.862.605	$-2.788.326$
Il Cash from operations (ADP 011+012)	017	22.861.119	372.454
4 Interest paid	018	0
5 Income tax paid	019
A) NET CASH FLOW FROM OPERATING ACTIVITIES (ADP 017 to 019)	020	22.861.119	372.454
Cash flow from investment activities
1 Cash receipts from sales of fixed tangible and intangible assets	021	1.309.253
2 Cash receipts from sales of financial instruments	022
3 Interest received	023	1.550.222	9.606
4 Dividends received	024	0
5 Cash receipts from repayment of loans and deposits	025
6 Other cash receipts from investment activities	026	80.014	9.574
III Total cash receipts from investment activities (ADP 021 to 026)	027	2.939.489	19.180
1 Cash payments for the purchase of fixed tangible and intangible assets	028	$-21.943.823$	$-914.612$
2 Cash payments for the acquisition of financial instruments	029	0
3 Cash payments for loans and deposits for the period 4 Acquisition of a subsidiary, net of cash acquired	030	0
5 Other cash payments from investment activities	031
	032	$-1.332.966$	$-388.517$
IV Total cash payments from investment activities (ADP 028 to 032)	033	$-23.276.789$	$-1.303.129$
B) NET CASH FLOW FROM INVESTMENT ACTIVITIES (ADP 027 +033)	034	$-20.337.300$	$-1.283.949$
Cash flow from financing activities
1 Cash receipts from the increase in initial (subscribed) capital	035	0
2 Cash receipts from the issue of equity financial instruments and debt	036	$\Omega$
financial instruments
3 Cash receipts from credit principals, loans and other borrowings	037	38.580.777	209.750
4 Other cash receipts from financing activities	038	1.500.000
V Total cash receipts from financing activities (ADP 035 to 038)	039	40.080.777	209.750
1 Cash payments for the repayment of credit principals, loans and other borrowings and debt financial instruments	040	$-39.283.131$	0
2 Cash payments for dividends	041		0
3 Cash payments for finance lease	042	$-85.511$	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	$-3,400,000$	$\mathbf 0$
VI Total cash payments from financing activities (ADP 040 to 044)	045	$-42.768.642$	$\overline{0}$
C) NET CASH FLOW FROM FINANCING ACTIVITIES (ADP 039 +045)	046	$-2.687.865$	209.750
1 Unrealised exchange rate differences in respect of cash and cash lequivalents	047		$\Omega$
D) NET INCREASE OR DECREASE IN CASH FLOWS (ADP 020+034+046+047)	048	$-164.046$	$-701.745$
E) CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE PERIOD	049	216.758	1.826.193
F) CASH AND CASH EQUIVALENTS AT THE END OF THE PERIOD(ADP 048+049)	050	52.712	1.124.448

IN EQUIT
	31.3.2020
	£
STATEMENT OF CHANGES	202t
	period from

STATEMENT OF CHANGES IN EQUITY n 1.1.2020 to 31.3.2020 for the period from 1.1.2020
ģ,	t S		Initial (subscribed) Capital newrose
1 Balance on the first day of the previous business year
585 2 Changes in accounting policies		249 600 090	10.368.102	$\frac{6}{6}$ 0 0				000		000		ă	$O$ $O$ $O$
$\overline{\textbf{c}}$ 4 Balance on the first day of the previous business year (restated) (AOP 01 to 3 Correction of errors $\widehat{\mathbf{g}}$			ģ 10.368.			00000
58 5 Profit/toss of the period						$O$ $O$							$\circ$
ō 7 Changes in revailablon reserves of fixed tangible and intangible assets 8 Exchange rate differences from translation of foreign operations									$O$ $O$	$-0.0.0$		$\circ$
8 Profit or loss arising from subsequent measurement of financial assets available for									$\circ$
g $\frac{4}{3}$						o.		ō
$\mathbf{g}$ $\pmb{\mathfrak{L}}$ 10 Profit or loss arising from effective hedge of a net investment in a foreign open I Profit or loss arising from effective cash flow hedge						$\sim$		$\circ$
11 Stare in other comprehensive income/loss of companies linked by virtue of
F 12 Actuarial gains/losses on the defined benefit obligation participating interests			۰					$\circ$						$\circ$
P P 2 13 Other changes in equity unrelated to owners			O $\circ$				000		000				0000	000
14 Tax on transactions recognised directly in equity		$\overline{\circ}$	$\alpha$
÷ 15 Increase/decrease in Ivital (subscribed) capital (other than from reinvesting profit and other than arising from the pre-bankruptcy settlement procedure)													$\circ$	$\circ$
e 16 Increase in initial (subscribed) capital arising from the reinvestment of profit
17 Increase in Initial (subscribed) capital arising from the pre-bankruply; setten procedure
ţ		$\circ$												$\circ$
18 Redemption of treasury shares/holdings 19 Payment of share in profit/dividend		$\circ$ $\circ$							$O$ $O$				$O$ $O$	$O$ $O$
2222 20 Other distribution to owners		$\circ$		000000	00000						00000
		$\circ$
$\mathbf{R}$ 21 Transfer to release a scorting to the annual schedule 25 Designed on the link day of the previous business year meaning procedure 25 Designed on the link day of the previous business year meaning parties (cl. to APPENDE		249.600.090	10,366,102
ige.		Notas any qui war	mite in social
$\overline{\mathbf{a}}$ I OTHER COMPREHENSIVE INCOME OF THE PREVIOUS PERIOD, NET OF TAX (ADP 06 to 14)
II COMPREHENSIVE INCOME OR LOSS FOR THE PREVIOUS PERIOD (ADP
25 (+2+24)
$\mathbf{z}$ III TRANSACTIONS WITH OWNERS IN THE PREVIOUS PERIOD RECOGNISED DIRECTLY IN EQUITY (ADP 15 to 22)		$\circ$
Current period 1 Balance on the first day of the current business year .		249.600.060	10.368.102	$\frac{15}{2}$								8
RR 2 Changes in accounting policies 3 Correction of errors		$\circ$			$O$ $O$ $O$		000	000	000	00	000	$8^{\circ}$	$O$ $O$
$\,$ $\,$ $\,$ 4 Balance on the first day of the current business year (restated) (ADP 27 to 29)		249.600.06	10,368,101
Profit/loss of the period
$\overline{\phantom{a}}$ . 6 Exchange rate differences from translation of foreign operations		$\circ$					0.0				0.0		8
$\boldsymbol{z}$ Changes in revaluation reserves of flood tangible and intangible assets							$\circ$
$\overline{\mathbf{a}}$ Profit or loss arising from subsequent measurement of financial assets available for $\frac{9}{3}$							$\circ$				$\circ$
$\mathbf{5}$ I Profit or loss arising from effective cash flow hedge
$\mathbf{g}$ 10 Profit or loss arising from effective hedge of a net investment in a foreign operation
$\ddot{\tilde{}}$ 11 Share in other comprehensive income/loss of companies linked by virtue of participating interests		o
12 Actuarial galmi/losses on the defined benefit obligation 13 Olher changes in equity unrelated to owners		$\circ$									$\overline{\phantom{0}}$
222 14 Tax on transactions recognised directly in equity		$O \cdot O$				0.000					0.0.0	0.000
$\overline{\mathbf{v}}$ t5 Increase/decrease in timilal (subscribed) capital (other than form relinvesting profit and other than arising from the pre-bankruptcy estilement procedure)												$\circ$
ų 16 Increase in Initial (subscribed) capital arising from the reinvestment of profit		$\circ$
17 Increase in Initial (subscribed) capital arising from the pre-bankruptcy settler
$\overline{\overline{\overline{\overline{\overline{\overline{\overline{\overline{\overline{\overline{\overline{\overline{\overline{\over$ procedure		$\circ$										$\circ$
* * 18 Redemption of treasury shares/toldings 19 Payment of share in profit/dividend 20 Other distribution to owners		00000		00000								0000
21 Transfer to reserves according to the annual schedule								0000
$22$ (crosses in newtone analog from the pre-bankraptic) sellowed procedure $30$ B add) and the last day of the correct business year reporting pricely (LCP) $30$ B RESERC COMPRESTATIVE INCOME DECAY THE REPORT TO BANDLE F		249.600.090	10,368.101
$\bf{8}$ (ADP 32 to 40) TAX
5 IL COMPRENENSIVE INCOME OR LOSS FOR THE CURRENT PERIOD (ADP 31+50)
S III TRANSACTIONS WITH OWNERS IN THE CURRENT PERIOD RECOGNISED DIRECTLY IN EQUITY (ADP 41 to 48)

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

Name of the issuer: VIRO TVORNICA ŠEĆERA d.d.

Personal identification number (OIB): 04525204420

Reporting period: 01.01.2020.-31.03.2020.

Notes to financial statements for quarterly periods include:

a) an explanation of business events relevant to understanding changes in the statement of financial position and financial performance for the quarterly reporting 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 $b)$ 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 quarterly reporting period c) a

statement explaining that the same accounting policies are applied while drawing up financial statements for the quarterly 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 $d$ ) a

description of the financial performance in the case of the issuer whose business is seasonal.