Viro Tvornica ŠEĆERA d.d.

Quarterly Report • Jul 31, 2020

STATEMENT OF PERSON RESPONSIBLE FOR PRODUCTION OF THE CONSOLIDATED REPORT FOR 2Q 2020

With this statement, in compliance with article 468 of the Law on capital market, I state that to the best of our knowledge

• $\mathbf{z}_\mathrm{in}$ . the set of consolidated financial reports of VIRO TVORNICA ŠEĆERA d.d., Zagreb and its subsidiaries for the period I-VI 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 Group.
• The Management report contains a true overview of business results $\omega$ and position of the Group, with a description of the most significant risks and uncertanties to chich the Group is exposed.

In Zagreb, on July 29, 2020

RESPONSIBLE PERSON:

PRESIDENT OF THE MANAGEMENT BOARD

Željko Zadro, dipl.oec.

MEMBER OF THE MANAGEMENT BOARD Darko Krstić, dipl.oec

TVORNICA ŠEĆERA d.d.

MEMBER OF THE MANAGEMENT BOARD

Ivo Rešić, mr.sc.

Annex 1		ISSUER'S GENERAL DATA
Reporting period:		1.1.2020	to	30.6.2020
Year:		2020
Quarter:		2
		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 269G
	E-mail address: info@secerana.hr
	Web address: www.secerana.hr
Number of employees (end of the reporting)	58
Consolidated report:	KD	(KN-not consolidated/KD-consolidated)
Audited:	RN	(RN-not audited/RD-audited)
Names of subsidiaries (according to IFRS):			Registered office:		MB:
	SLADORANA d.o.o.			ŠEĆERANA 63, ŽUPANJA 03307484
	SLAVONIJA ŽUPANJA d.d.			J. J. STROSSMAYERA 65, ŽUPANJA	01841009
	VIRO-KOOPERACIJA d.o.o.			ŠEĆERANA 63, ŽUPANJA 02835398
	VIRO BH d.o.o.			HRVATSKIH BRANITELJA 21, GRUDE, BIH 4-01-0029-1
Bookkeeping firm:	No	(Yes/No)		(name of the bookkeeping firm)
	Contact person: DRAGIĆ NEVENA
	(only name and surname of the contact person) Telephone: 01 2369 773
	E-mail address: nevena.dragic@secerana.hr
Audit firm:
Certified auditor:	(name of the audit firm)
	(name and surname)

BALANCE SHEET balance as at 30.06.2020.

Submitter: VIRO TVORNICA ŠEĆERA d.d.
Item	ADP code	Last day of the preceding business vear	At the reporting date of the current period
$\mathbf{1}$	$\overline{2}$	$\overline{\mathbf{3}}$	$\boldsymbol{4}$
A) RECEIVABLES FOR SUBSCRIBED CAPITAL UNPAID	001	$\mathbf{0}$	O
B) FIXED ASSETS (ADP 003+010+020+031+036)	002	479.261.440	460.708.027
I INTANGIBLE ASSETS (ADP 004 to 009)	003	43.427	25.575
1 Research and development	004	$\Omega$	$\Omega$
2 Concessions, patents, licences, trademarks, software and other rights	005	43.427	25.575
3 Goodwill	006	0	0
4 Advances for the purchase of intangible assets	007	$\mathbf{0}$	0
5 Intangible assets in preparation	008	0	0
6 Other intangible assets	009	0	$\Omega$
II TANGIBLE ASSETS (ADP 011 to 019)	010	130.346.982	128.878.787
1 Land	011	31.371.420	31.371.420
2 Buildings	012	43.839.267	42.466.812
3 Plant and equipment	013	17.224.859	16.126.441
4 Tools, working inventory and transportation assets	014	274.686	613.363
5 Biological assets	015	0
6 Advances for the purchase of tangible assets	016	33.930.280	34.460.202
7 Tangible assets in preparation	017	2.386.376	2.580.868
8 Other tangible assets	018	44.900	44.900
9 Investment property	019	1.275.194	1.214.781
III FIXED FINANCIAL ASSETS (ADP 021 to 030)	020	348.602.281	331.683.869
1 Investments in holdings (shares) of undertakings within the group	021	343.392.343	326.969.721
2 Investments in other securities of undertakings within the group	022	0
3 Loans, deposits, etc. to undertakings within the group	023	0	0
4. Investments in holdings (shares) of companies linked by virtue of	024	0	0
participating interests
5 Investment in other securities of companies linked by virtue of	025	0	0
participating interests
6 Loans, deposits etc. to companies linked by virtue of participating	026	0	0
interests 7 Investments in securities	027	350.558	350.838
8 Loans, deposits, etc. given	028	4.859.380	4.363.310
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	268.750	119.796
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	$\Omega$
4 Other receivables	035	268.750	119.796
V DEFERRED TAX ASSETS	036	0
C) CURRENT ASSETS (ADP 038+046+053+063)	037	158.800.506	145.871.098
I INVENTORIES (ADP 039 to 045)	038	42.910.161	28.007.412
1 Raw materials and consumables	039	10.783.860	10.644.655
2 Work in progress	040
3 Finished goods	041	8.466.349	4.504.418
4 Merchandise	042	21.614.897	3.978.207
5 Advances for inventories	043	2.045.055	8.880.132
6 Fixed assets held for sale	044	0
7 Biological assets	045	U
II RECEIVABLES (ADP 047 to 052)	046	109.092.006	112.181.663
1 Receivables from undertakings within the group	047	87.076.398	75.103.376
2 Receivables from companies linked by virtue of participating
interests	048	0
3 Customer receivables	049	17.053.899	34.875.334

4 Receivables from employees and members of the undertaking	050	$\mathbf{0}$	8.500
5 Receivables from government and other institutions	051	3.657.636	1.300.413
6 Other receivables	052	1.304.073	894.040
III CURRENT FINANCIAL ASSETS (ADP 054 to 062)	053	4.056.996	3.943.357
1 Investments in holdings (shares) of undertakings within the group	054	$\Omega$	$\Omega$
2 Investments in other securities of undertakings within the group	055	$\Omega$	0
3 Loans, deposits, etc. to undertakings within the group	056	411.395	418.043
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	$\overline{0}$	0
6 Loans, deposits etc. to companies linked by virtue of participating interests	059	$\mathbf{O}$	0
7 Investments in securities	060	$\Omega$	$\Omega$
8 Loans, deposits, etc. given	061	3.645.601	3.525.314
9 Other financial assets	062	$\Omega$
IV CASH AT BANK AND IN HAND	063	2.741.343	1.738.666
D) PREPAID EXPENSES AND ACCRUED INCOME	064	1.835.524	1.767.020
E) TOTAL ASSETS (ADP 001+002+037+064)	065	639.897.470	608.346.145
OFF-BALANCE SHEET ITEMS	066	1.173.854.111	1.136.205.027
LIABILITIES
A) CAPITAL AND RESERVES (ADP 068 to	067	335.484.285	322.616.980
I INITIAL (SUBSCRIBED) CAPITAL	068	249.600.060	249.600.060
II CAPITAL RESERVES	069	10.368.101	10.368.101
III RESERVES FROM PROFIT (ADP 071+072-073+074+075)	070	51.178.531	51.178.531
1 Legal reserves	071	12.532.960	12.532.960
2 Reserves for treasury shares	072	38.620.615	38.620.615
3 Treasury shares and holdings (deductible item)	073	$\Omega$
4 Statutory reserves	074	$\Omega$	$\Omega$
5 Other reserves	075	24.956	24.956
IV REVALUATION RESERVES	076	0	0
V FAIR VALUE RESERVES (ADP 078 to 080)	077	$\overline{0}$	$\mathbf{0}$
1 Fair value of financial assets available for sale	078	$\mathbf{0}$	$\mathbf 0$
2 Cash flow hedge - effective portion	079	$\mathbf{0}$	$\mathbf 0$
3 Hedge of a net investment in a foreign operation - effective portion	080	$\Omega$	$\mathbf{0}$
VI RETAINED PROFIT OR LOSS BROUGHT FORWARD (ADP 082- 083)	081	$-123.719.156$	25.592.709
1 Retained profit	082	$\overline{0}$	25.592.709
2 Loss brought forward	083	123.719.156
VII PROFIT OR LOSS FOR THE BUSINESS YEAR (ADP 085-086)	084	143.971.752	$-18.446.410$
1 Profit for the business year	085	143.971.752
2 Loss for the business year	086		18.446.410
VIII MINORITY (NON-CONTROLLING) INTEREST	087	4.084.997	4.323.989
B) PROVISIONS (ADP 089 to 094)	088	5.124.119	5.124.119
1 Provisions for pensions, termination benefits and similar obligations	089	0	0
2 Provisions for tax liabilities	090	$\mathbf{0}$
3 Provisions for ongoing legal cases	091	368.150	368.150
4 Provisions for renewal of natural resources	092	$\Omega$
5 Provisions for warranty obligations	093	$\Omega$
6 Other provisions	094	4.755.969	4.755.969
C) LONG-TERM LIABILITIES (ADP 096 to 106)	095	14.533.863	14.341.214
1 Liabilities to undertakings within the group 2 Liabilities for loans, deposits, etc. of undertakings within the group	096 097	$\Omega$ 0	$\mathbf 0$
	098	0	$\mathbf 0$
3 Liabilities to companies linked by virtue of participating interests 4 Liabilities for loans, deposits etc. of companies linked by virtue of
participating interests	099	0	$\mathbf{0}$
5 Liabilities for loans, deposits etc.	100	96.670	98.180
6 Liabilities to banks and other financial institutions	101	6.776.858	6.882.699
7 Liabilities for advance payments	102	0	$\overline{0}$
8 Liabilities to suppliers	103	$\Omega$	0

9 Liabilities for securities	104		0
10 Other long-term liabilities	105	7.660.335	7.360.335
11 Deferred tax liability	106
D) SHORT-TERM LIABILITIES (ADP 108 to 121)	107	284.449.330	266.189.625
1 Liabilities to undertakings within the group	108	1.039.739	7.491.276
2 Liabilities for loans, deposits, etc. of undertakings within the group	109		14.341.402
3 Liabilities to companies linked by virtue of participating interests	110
4 Liabilities for loans, deposits etc. of companies linked by virtue of participating interests	111
5 Liabilities for loans, deposits etc.	112	19.405.577	29.684.885
6 Liabilities to banks and other financial institutions	113	77.312.923	71.154.684
7 Liabilities for advance payments	114	7.561.294	5.365.217
8 Liabilities to suppliers	115	158.478.191	127.951.143
9 Liabilities for securities	116
10 Liabilities to employees	117	468.801	451.622
11 Taxes, contributions and similar liabilities	118	19.767.663	9.299.552
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	384.179	418.881
E) ACCRUALS AND DEFERRED INCOME	122	305.873	74.207
F) TOTAL - LIABILITIES (ADP 067+088+095+107+122)	123	639.897.470	608.346.145
G) OFF-BALANCE SHEET ITEMS	124	1.173.854.111	1.136.205.027

STATEMENT OF PROFIT OR LOSS
for the period 01.01.2020. to 30.06.2020.

Submitter: VIRO TVORNICA ŠEĆERA d.d.

Item	ADP	Same period of the previous year		Current period
	code	Cumulative	Quarter	Cumulative	Quarter
	$\mathbf{2}$	3	$\overline{4}$	5	6
OPERATING INCOME (ADP 126 to 130)	125	365.871.160	253.551.113	55.250.297	33.593.520
1 Income from sales with undertakings within the group	126	6.970.603	3.792.711	16.178.885	14.754.387
2 Income from sales (outside group)	127	352.565.100	247.505.985	35.806.004	18.128.731
3 Income from the use of own products, goods and services	128	45.753	19.569	28.342	8.142
4 Other operating income with undertakings within the group	129	41.069	41.069	1.765.303	335.706
5 Other operating income (outside the group)	130	6.248.635	2.191.779	1.471.763	366.554
Il OPERATING EXPENSES (ADP 132+133+137+141+142+143+146+153)	131	410.502.843	298.031.253	50.278.383	27.475.680
1 Changes in inventories of work in progress and finished goods	132	97.522.506	46.585.873	3.971.773	199.738
2 Material costs (ADP 134 to 136)	133	260.644.748	227.852.415	38.470.151	23.273.528
al Costs of raw materials and consumables	134	182.358.983	175.747.971	10.532.002	7.537.186
b) Costs of goods sold	135	62.787.325	44.932.579	20.980.120	13.079.459
c) Other external costs	136	15.498.440	7.171.865	6.958.029	2.656.883
3 Staff costs (ADP 138 to 140)	137 138	25.527.195	13.196.557 8.461.136	4.059.245 2.457.065	2.063.849 1.247.377
a) Net salaries and wages	139	16.326.261 5.769.195	2.984.797	1.034.148	527.588
b) Tax and contributions from salary costs c) Contributions on salaries	140	3.431.739	1.750.624	568.032	288.884
4 Depreciation	141	19.347.020	7.998.491	2.132.356	1.051.089
5 Other costs	142	5.859.988	3.027.810	1.139.798	578.739
6 Value adjustments (ADP 144+145)	143	$\mathbf{0}$	$\overline{0}$	$\Omega$	$\mathbf{0}$
a) fixed assets other than financial assets	144	$\mathbf{0}$	$\overline{0}$	$\mathbf{O}$	$\mathbf{0}$
b) current assets other than financial assets	145	$\mathbf{0}$	0	$\mathbf 0$	$\mathbf{0}$
7 Provisions (ADP 147 to 152)	146	$\mathbf{0}$	$\Omega$	$\overline{0}$	$\overline{0}$
a) Provisions for pensions, termination benefits and similar obligations	147	$\mathbf{0}$	$\Omega$	$\mathbf 0$	$\mathbf 0$
b) Provisions for tax liabilities	148	$\Omega$	$\Omega$	$\mathbf{O}$	$\mathbf{0}$
c) Provisions for ongoing legal cases	149	$\overline{0}$	$\Omega$	$\circ$	$\mathbf{0}$
d) Provisions for renewal of natural resources	150	$\mathbf 0$	$\overline{0}$	$\mathbf 0$	$\mathbf 0$
e) Provisions for warranty obligations	151	$\mathbf{O}$	$\Omega$	$\mathbf 0$	$\mathbf{0}$
f) Other provisions	152	$\Omega$	$\Omega$	$\Omega$	$\overline{0}$
8 Other operating expenses	153	1.601.386	$-629.893$	505.060	308.737
III FINANCIAL INCOME (ADP 155 to 164)	154	27.146.394	17.283.441	2.222.538	719.250
1 Income from investments in holdings (shares) of undertakings within the group	155	0	$\mathbf{0}$	0	$\mathbf 0$
2 Income from investments in holdings (shares) of companies linked by virtue of participating interests	156	0	$\Omega$	$\Omega$	$\mathbf 0$
3 Income from other long-term financial investment and loans granted to
undertakings within the group	157	232.984	34.912	8.896	4.446
4 Other interest income from operations with undertakings within the group	158	O	$\mathbf{O}$	0	$\mathbf 0$
5 Exchange rate differences and other financial income from operations	159	33.005	$-22.017$	1.073.772	2.016
with undertakings within the group	160	186.852	46.101	98.179	60.314
6 Income from other long-term financial investments and loans 7 Other interest income	161	22.659	20.771	67	$-11.850$
8 Exchange rate differences and other financial income	162	1.992.915	1.884.156	1.000.415	641.526
9 Unrealised gains (income) from financial assets	163	$\Omega$	0	$\overline{0}$	$\mathbf 0$
10 Other financial income	164	24.677.979	15.319.518	41.209	22.798
IV FINANCIAL EXPENSES (ADP 166 to 172)	165	15.739.596	8.795.148	3.639.107	853.906
1 Interest expenses and similar expenses with undertakings within the	166				$\Omega$
group 2 Exchange rate differences and other expenses from operations with	167	121.624	121.624	324.309	324.309
undertakings within the group
3 Interest expenses and similar expenses	168	12.210.781	5.807.455	949.580	291.524 238.074
4 Exchange rate differences and other expenses 5 Unrealised losses (expenses) from financial assets	169 170	1.063.285 $\Omega$	522.163 0	2.331.308 $\Omega$	0
6 Value adjustments of financial assets (net)	171	$\Omega$	$\Omega$	$\Omega$	$\mathbf{0}$
7 Other financial expenses	172	2.343.906	2.343.906	33.910	$-1$
SHARE IN PROFIT FROM UNDERTAKINGS LINKED BY VRITUE OF	173				$\mathbf 0$
PARTICIPATING INTERESTS VI SHARE IN PROFIT FROM JOINT VENTURES	174	0	0	$\Omega$	$\mathbf{0}$
VII SHARE IN LOSS OF COMPANIES LINKED BY VIRTUE OF	175	Ω	0	21.762.761	10.195.810
PARTICIPATING INTEREST
VIII SHARE IN LOSS OF JOINT VENTURES	176	$\Omega$	$\mathbf{0}$	0	$\mathbf{0}$
IX TOTAL INCOME (ADP 125+154+173 + 174)	177	393.017.554	270.834.554	57.472.835	34.312.770
TOTAL EXPENDITURE (ADP 131+165+175 + 176) $\overline{X}$	178 179	426.242.439 $-33.224.885$	306.826.401 $-35.991.847$	75.680.251 $-18.207.416$	38.525.396 -4.212.626
PRE-TAX PROFIT OR LOSS (ADP 177-178) 1 Pre-tax profit (ADP 177-178)	180	$\mathbf{0}$	$\Omega$	$\Omega$	$\overline{0}$

in HRK

2 Pre-tax loss (ADP 178-177)	181	$-33.224.885$	$-35.991.847$	$-18.207.416$	$-4.212.626$
XII INCOME TAX	182	$\Omega$	$\Omega$		$\Omega$
XIII PROFIT OR LOSS FOR THE PERIOD (ADP 179-182)	183	$-33.224.885$	$-35.991.847$	$-18.207.416$	$-4.212.626$
1 Profit for the period (ADP 179-182)	184	$\Omega$	$\Omega$		$\Omega$
2 Loss for the period (ADP 182-179)	185	$-33.224.885$	$-35.991.847$	$-18.207.416$	$-4.212.626$
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		$\overline{0}$	$\mathbf{0}$	$\overline{0}$
(ADP 187-188)
1 Pre-tax profit from discontinued operations	187	$\Omega$	$\Omega$	$\Omega$	$\Omega$
2 Pre-tax loss on discontinued operations	188	$\Omega$	$\Omega$	$\Omega$	$\overline{0}$
XV INCOME TAX OF DISCONTINUED OPERATIONS	189	$\overline{0}$	$\Omega$	$\overline{0}$	$\Omega$
1 Discontinued operations profit for the period (ADP 186-189)	190	$\overline{0}$	$\Omega$	$\Omega$	$\mathbf{0}$
2 Discontinued operations loss for the period (ADP 189-186)	191	$\Omega$	$\Omega$	$\overline{0}$	$\overline{0}$
TOTAL OPERATIONS (to be filled in only by undertakings subject to IFRS with discontinued operations)
XVI PRE-TAX PROFIT OR LOSS (ADP 179+186)	192
1 Pre-tax profit (ADP 192)	193	$\overline{0}$	$\overline{0}$	$\Omega$	$\overline{0}$
2 Pre-tax loss (ADP 192)	194	$\Omega$	$\overline{0}$	$\overline{0}$	$\overline{0}$
XVII INCOME TAX (ADP 182+189)	195	$\mathbf{0}$	$\overline{0}$	$\overline{0}$	$\overline{0}$
XVIII PROFIT OR LOSS FOR THE PERIOD (ADP 192-195)	196	$\mathbf{0}$	$\overline{0}$	$\overline{0}$	$\overline{0}$
1 Profit for the period (ADP 192-195)	197	$\overline{0}$	$\overline{0}$	$\overline{0}$	$\bf{0}$
2 Loss for the period (ADP 195-192)	198	$\Omega$	$\overline{0}$	$\Omega$	$\overline{0}$
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	$-33.224.885$	$-35.991.847$	$-18.207.416$	$-4.212.626$
1 Attributable to owners of the parent	200	$-32.923.679$	$-35.693.283$	$-18.446.410$	$-4.441.010$
2 Attributable to minority (non-controlling) interest	201	$-301.206$	$-298.564$	238.994	228.384
STATEMENT OF OTHER COMPRHENSIVE INCOME (to be filled in by undertakings subject to IFRS)
I PROFIT OR LOSS FOR THE PERIOD	202		$\mathbf{O}$	$\Omega$	$\mathbf{0}$
II OTHER COMPREHENSIVE INCOME/LOSS BEFORE TAX	203	0	$\overline{0}$	$\Omega$	$\Omega$
(ADP 204 to 211)
1 Exchange rate differences from translation of foreign operations	204		$\Omega$	$\overline{0}$	$\mathbf{0}$
2 Changes in revaluation reserves of fixed tangible and intangible assets	205		$\Omega$	$\Omega$	0
3 Profit or loss arising from subsequent measurement of financial assets	206		0		$\theta$
available for sale
4 Profit or loss arising from effective cash flow hedging	207		$\Omega$	$\Omega$	$\Omega$
5 Profit or loss arising from effective hedge of a net investment in a foreign operation	208	0	$\overline{0}$	$\mathbf{0}$	$\mathbf{0}$
6 Share in other comprehensive income/loss of companies linked by	209	$\Omega$	$\Omega$	$\Omega$	$\Omega$
virtue of participating interests 7 Actuarial gains/losses on the defined benefit obligation	210	$\Omega$	$\Omega$	$\overline{0}$	$\circ$
8 Other changes in equity unrelated to owners	211	$\Omega$	$\Omega$	$\Omega$	$\overline{0}$
III TAX ON OTHER COMPREHENSIVE INCOME FOR THE PERIOD	212	$\Omega$	$\overline{0}$	$\overline{0}$	$\mathbf{0}$
IV NET OTHER COMPREHENSIVE INCOME OR LOSS (ADP 203-212)	213	n	$\Omega$	$\Omega$	$\mathbf{0}$
V COMPREHENSIVE INCOME OR LOSS FOR THE PERIOD (ADP $202+213$	214			$\Omega$	$\mathbf{0}$
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	$-33.224.885$	$-35.991.847$	$-18.207.416$	$-4.212.626$
1 Attributable to owners of the parent	216	$-32.923.679$	$-35.693.283$	$-18.446.410$	$-4.441.010$
2 Attributable to minority (non-controlling) interest	217	$-301.206$	$-298.564$	238.994	228.384

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

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	$-33.224.885$	$-18.207.416$
2 Adjustments (ADP 003 to 010):	002	29.942.597	2.132.356
a) Depreciation	003	19.347.020	2.132.356
b) Gains and losses from sale and value adjustment of fixed tangible and	004		0
intangible assets
c) Gains and losses from sale and unrealised gains and losses and value	005	600.000	0
adiustment of financial assets	006
d) Interest and dividend income	007	10.359.716	0 0
e) Interest expenses f) Provisions	008		$\mathbf 0$
	009	$-364.139$	0
g) Exchange rate differences (unrealised) h) Other adjustments for non-cash transactions and unrealised gains and
losses	010		0
I Cash flow increase or decrease before changes in working capital (ADP 001+002)	011	$-3.282.288$	$-16.075.060$
3 Changes in the working capital (ADP 013 to 016)	012	208.493.977	$-24.820.697$
a) Increase or decrease in short-term liabilities	013	94.073.519	$-37.163.886$
b) Increase or decrease in short-term receivables	014	$-73.446.500$	$-2.818.660$
c) Increase or decrease in inventories	015	175.892.780	19.372.122
d) Other increase or decrease in working capital	016	11.974.178	$-4.210.273$
Il Cash from operations (ADP 011+012)	017	205.211.689	$-40.895.757$
4 Interest paid	018	$-1.556.351$
5 Income tax paid	019
A) NET CASH FLOW FROM OPERATING ACTIVITIES (ADP 017 to 019)	020	203.655.338	$-40.895.757$
Cash flow from investment activities
1 Cash receipts from sales of fixed tangible and intangible assets	021	6.411.672	621.822
2 Cash receipts from sales of financial instruments	022
3 Interest received	023	6.777.430	55.769
4 Dividends received	024
5 Cash receipts from repayment of loans and deposits	025	71.180	513.166
6 Other cash receipts from investment activities	026	8.422.425	204.325
III Total cash receipts from investment activities (ADP 021 to 026)	027	21.682.707	1.395.082
1 Cash payments for the purchase of fixed tangible and intangible assets	028	$-23.119.670$	$-1.267.647$
2 Cash payments for the acquisition of financial instruments	029
3 Cash payments for loans and deposits for the period	030	0	$-16.262$
4 Acquisition of a subsidiary, net of cash acquired	031
5 Other cash payments from investment activities	032	$-1.847.658$	$-62.417$
IV Total cash payments from investment activities (ADP 028 to 032)	033	$-24.967.328$	$-1.346.326$
B) NET CASH FLOW FROM INVESTMENT ACTIVITIES (ADP 027 +033)	034	$-3.284.621$	48.756
Cash flow from financing activities
1 Cash receipts from the increase in initial (subscribed) capital	035
2 Cash receipts from the issue of equity financial instruments and debt
financial instruments	036		21.762.761
3 Cash receipts from credit principals, loans and other borrowings	037	121.824.862	18.579.212
4 Other cash receipts from financing activities	038	1.900.000	107.351
V Total cash receipts from financing activities (ADP 035 to 038)	039	123.724.862	40.449.324
1 Cash payments for the repayment of credit principals, loans and other borrowings and debt financial instruments	040	$-311.075.981$	$-305.000$
2 Cash payments for dividends	041
3 Cash payments for finance lease	042	$-259.452$	0
4 Cash payments for the redemption of treasury shares and decrease in
initial (subscribed) capital	043	$-610.935$	0

5 Other cash payments from financing activities	044	$-3.828.956$	$-300.000$
VI Total cash payments from financing activities (ADP 040 to 044)	045	$-315.775.324$	$-605.000$
C) NET CASH FLOW FROM FINANCING ACTIVITIES (ADP 039 +045)	046	$-192.050.462$	39.844.324
1 Unrealised exchange rate differences in respect of cash and cash equivalents	047
D) NET INCREASE OR DECREASE IN CASH FLOWS (ADP 020+034+046+047)	048	8.320.255	$-1.002.677$
E) CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE PERIOD	049	4.836.521	2.741.343
F) CASH AND CASH EQUIVALENTS AT THE END OF THE PERIOD(ADP 048+049)	050	13.156.776	1.738.666

for the period from 1.1.2020 to 30.6.2020 for the period from 1.1.2020 to 30.6.2020
	à I	the (numeric contact	Capital re
1 Balance on the first day of the previous business year		249 800 080	10.368.101	$\frac{8}{3}$	38 Z			$3^{\circ}$					Ŕ	8 ě		5022342
2 Changes in accounting policies 3 Correction of errors	585				$O$ $O$						0.0.0.0	0000
4 Balance on the first day of the previous business year (restated) (ADP 01 to ខឹ	$\overline{a}$	249.600.08	10.308.101						0000000					-05.454 143.971
Profit/oss of the period	58	$\circ$		۰ o							$O$ $O$			752		$-874.132$
Changes in revaluation reserves of fixed targible and intergible assets Exchange rate differences from translation of foreign operations	ō				$O$ $O$ $O$		0000000	00000000		0000000		0000
Profit or loss arising from subsequent measurement of financial assets available for
Profit or loss arising from effective cash flow hedge å	8 8	$\circ$ $\circ$			$\circ$		$\circ$	0 0 0		0000		$O$ $O$
10 Profit or loss arraing from effective hedge of a net investment in a foreign operation	å	$\circ$			$\circ$							$\circ$				00
11 Share in other comprehensive income/loss of companies linked by virtue of	Ŧ	$\circ$										$\overline{\phantom{0}}$
12 Actuarial gains/losses on the defined benefit obligation participating interests
14 Tax on trainactions recognised directly in equity 13 Other changes in equity unrelated to owners	$\begin{array}{ccccccccc} \mathbb{R} & \mathbb{S} & \mathbb{S} & \mathbb{R} & \mathbb{S} & \mathbb{S} & \mathbb{S} & \mathbb{S} & \mathbb{S} & \mathbb{S} & \mathbb{S} & \mathbb{S} & \mathbb{S} & \mathbb{S} & \mathbb{S} & \mathbb{S} & \mathbb{S} & \mathbb{S} & \mathbb{S} & \mathbb{S} & \mathbb{S} & \mathbb{S} & \mathbb{S} & \mathbb{S} & \mathbb{S} & \mathbb{S} & \mathbb{S} & \mathbb{S} & \mathbb{S} & \mathbb{S} & \$	000					000	7.500 0.000			0000	000				0000
15 increase/decrease in ivital (subscribed) capital (other than from reinvesting profit and other than arising from the pre-bank/uplcy aethernent procedure)	÷	$\circ$						$\circ$		$0 0 0 0 0 0$		$\overline{\phantom{a}}$
10 Increase in initial (subscribed) capital arising from the reinvestment of profit	÷	$\circ$						$\circ$		$\circ$
17 Increase in Initial (subscribed) capital arientg from the pre-bankruptcy settler procedure	$\ddot{\tau}$	$\circ$						$\circ$			$\circ$	$\circ$
18 Redemption of treasury shares/holdings	$\sharp$ 2	$O$ $O$						000000		0000000
20 Other distribution to owners 21 Transfer to reserves according to the annual schedule 19 Payment of share in profit/dividend		$O$ $O$							000000		00000	000000
	252															-83.213
22 increase in reserves arising from the pre-bankrupicy selferment procedure 23 Balance on the last day of the previous business year reporting period (04 to	$\boldsymbol{n}$	249 800.080	10,368.101											ę
NOUX TO THE STATEMENT OF CHANGES IN EQUITY (to be filled in by I OTHER COMPREHENSIVE INCOME OF THE PREVIOUS PERIOD, NET OF TAX (ADP 08 to 14)	ă	up financial sta	the in acco					š
IL COMPREHENSIVE INCOME OR LOSS FOR THE PREVIOUS PERIOD (ADP 24)	26							š,					454.00	425,762
III TRANSACTIONS WITH OWNERS IN THE PREVIOUS PERIOD RECOGNISED DIRECTLY IM EQUITY (ADP 15 to 22)	$\mathbf{g}$												410.88		$\frac{1}{2}$ $-1.221$	-83.213
ant perto
I Baisnes on the first day of the current business year		249.600.000	10368.101	š	620.615								123.719.158	.752 143,971		1.084.997
2 Changes in accounting policies I Correction of errors	$\begin{array}{c} \mathbb{R} & \mathbb{R} & \mathbb{R} \end{array}$						000	$\begin{array}{c}\n\bullet \ \bullet \ \bullet \ \bullet \ \bullet\n\end{array}$ 0000		0000		$0 0 0 0 0 0 0 0 0 0 0$ 00000
6 Balance on the first day of the current business year (restated) (ADP 27 to 29)	$\,$ $\,$ $\,$	249 600 080	10:368.101
5 Profit/loss of the period	$\overline{\mathbf{a}}$ a	$\circ$						00	O, O					ŝ		š $\frac{3}{2}$
Changes in revaluation reserves of fixed tangible and intangible assets 6 Exchange rate differences from translation of foreign operations.	$\mathbb{S}$	$\circ$								00000		0.0.0	00000	$\circ$
5 Profit or loss arising from subsequent measurement of financial assets available for						$0 \times 0$										$\circ$
å	$\rm{^{3}}$	$\circ$												$\circ$		$\circ$ $\circ$
9 Profit or loss arising from effective cash flow hedge	$\frac{16}{3}$													$\circ$
10 Profit or loss arising from effective hedge of a net investment in a foreign operation 11 Share in other comprehensive income/loss of companies linked by virtue of	$\mathbf{g}$	$\circ$						0000000000000 0.00000		0 0 0 0 0 0			$\circ$	$\circ$		$\circ$
elerenti grillegiotheg	$\approx$	$\circ$
12 Actuarial gains/losses on the defined benefit obligation 13 Other changes in equity unrelated to owners	7.22	$\overline{\phantom{a}}$ ᅙ										00000	$^{\circ}$ $^{\circ}$			00000
14 Tax on transactions recognised directly in equity		ē
15 transace/decrease in Intital (subscribed) capital (other than from reinwelting profit and other than arising from the pre-bank-upity settlement procedure)	$\overline{\ast}$
16 Increase in initial (subscribed) capital arising from the reinvestment of profit	$\overline{\mathbf{u}}$							$\sigma$		$\circ$		$\circ$				$\circ$
17 increase in initial (subscribed) capital arising from the pre-bankruptcy settlement ocedure	$\circ$	$\circ$
18 Redemption of treasury shares/holdings 19 Payment of share in profit/dividend	3.2.2	ē						000000	0 0 0 0 0 0 0	0 0 0 0 0 0						0.000000
20 Other distibution to owners 21 Transfer to reserves according to the annual schedule 22 Iocraese in reserves arising from the pre-bankrupiny estimment procedure	$\overline{\mathbf{v}}$												$\overline{z}$
23 Balance on the last day of the current business year reporting period (ADP 30 to 48)	99	249,600.090	10,368.101
APPENDIX TO THE STATEMENT OF CHANGES IN EQUITY (to be filled in by 10 CHAPPENDIX TO THE CURRENT PERIOD. NET OF
(ADP 32 to 40) š	8
II COMPREHENSIVE INCOME OR LOSS FOR THE CURRENT PERIOD (ADP)	5
III TRANSACTIONS WITH OWNERS IN THE CURRENT PERIOD RECOGNISED DIRECTLY IN EQUITY (ADP 41 to 48)	a

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. - 30.06.2020.

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 $d$ ) a changes

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