Viro Tvornica ŠEĆERA d.d.

Quarterly Report • Jul 31, 2020

STATEMENT OF PERSON RESPONSIBLE FOR PRODUCTION OF THE THREE-MONTH REPORT FOR 1H 2020

With this statement, in compliance with article 407, paragraph 2, an 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 ŠEĆERA d.d., Zagreb 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 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 July 27, 2020

ŠEĆERA d.d

Darko Krstić, Member of the Management Board

RESPONSIBLE PERSON

PRESIDENT OF THE MANAGEMENT BOARD:

Željko Zadro, dipl.oec

Ivo Rešić, Member of the Management Board

Annex 1		ISSUER'S GENERAL DATA
Reporting period:		01.01.2020.	to	30.06.2020.
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
	treet and house number: ULICA GRADA VUKOVARA 269 g
	E-mail address: viro@secerana.hr
	Web address: www.secerana.hr
Number of employees (end of the reporting	5
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)		(name of the bookkeeping firm)
	Contact person: ZDENKA SMOJVER
	(only name and surname of the contact person) Telephone: 033 840 122
	E-mail address: racunovodstvo-viro@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
1	$\overline{2}$	$\overline{3}$	4
A) RECEIVABLES FOR SUBSCRIBED CAPITAL UNPAID	001	0
B) FIXED ASSETS (ADP 003+010+020+031+036)	002	539.123.292	539.983.646
I INTANGIBLE ASSETS (ADP 004 to 009)	003	0
1 Research and development	004	0	0
2 Concessions, patents, licences, trademarks, software and other	005	0	0
rights 3 Goodwill	006	0	0
4 Advances for the purchase of intangible assets	007	0	$\mathbf{0}$
5 Intangible assets in preparation	008	$\Omega$	0
6 Other intangible assets	009	O
II TANGIBLE ASSETS (ADP 011 to 019)	010	65.191.679	64.976.678
1 Land	011	23.538.630	23.538.630
2 Buildings	012	1.824.100	1.683.175
3 Plant and equipment	013	2.384.080	1.840.495
4 Tools, working inventory and transportation assets	014	0
5 Biological assets	015	$\Omega$
6 Advances for the purchase of tangible assets	016	33.930.280	34.460.202
7 Tangible assets in preparation	017	2.230.095	2.230.095
8 Other tangible assets	018	9.300	9.300
9 Investment property	019	1.275.194	1.214.781
III FIXED FINANCIAL ASSETS (ADP 021 to 030)	020	473.931.613	475.006.968
1 Investments in holdings (shares) of undertakings within the group	021	407.586.783	407.592.713
2 Investments in other securities of undertakings within the group	022	O
3 Loans, deposits, etc. to undertakings within the group	023	63.021.922	64.090.232
4. Investments in holdings (shares) of companies linked by virtue of	024		0
participating interests
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	$\Omega$	$\Omega$
7 Investments in securities	027	17.908	18.188
8 Loans, deposits, etc. given	028	3.305.000	3.305.835
9 Other investments accounted for using the equity method	029	$\Omega$	0
10 Other fixed financial assets	030	$\mathbf 0$	$\mathbf 0$
IV RECEIVABLES (ADP 032 to 035)	031	$\overline{0}$	$\mathbf{0}$
1 Receivables from undertakings within the group	032	$\Omega$	$\mathbf 0$
2 Receivables from companies linked by virtue of participating interests	033	0	0
3 Customer receivables	034	$\mathbf{0}$	0
4 Other receivables	035	$\overline{0}$	0
V DEFERRED TAX ASSETS	036	$\Omega$	$\Omega$
C) CURRENT ASSETS (ADP 038+046+053+063)	037	320.845.210	296.839.709
I INVENTORIES (ADP 039 to 045)	038	28.212.969	7.750.890
1 Raw materials and consumables	039	536.944	442.354
2 Work in progress	040
3 Finished goods	041	7.687.154	2.366.155
4 Merchandise	042	18.727.690	1.420.680
5 Advances for inventories	043	1.261.181	3.521.701
6 Fixed assets held for sale	044	0
7 Biological assets	045	$\Omega$
II RECEIVABLES (ADP 047 to 052)	046	80.285.191	73.484.086
1 Receivables from undertakings within the group	047	67.013.639	65.887.102
2 Receivables from companies linked by virtue of participating interests	048
3 Customer receivables	049	10.247.084	7.303.127

in HRK

4 Receivables from employees and members of the undertaking	050	$\mathbf{0}$	8.500
5 Receivables from government and other institutions	051	2.491.595	18.084
6 Other receivables	052	532.873	267.273
III CURRENT FINANCIAL ASSETS (ADP 054 to 062)	053	210.520.857	214.536.923
1 Investments in holdings (shares) of undertakings within the group	054	$\Omega$
2 Investments in other securities of undertakings within the group	055	0	0
3 Loans, deposits, etc. to undertakings within the group	056	207.690.998	211.673.250
4 Investments in holdings (shares) of companies linked by virtue of	057	0
participating interests 5 Investment in other securities of companies linked by virtue of	058	0	0
participating interests 6 Loans, deposits etc. to companies linked by virtue of participating	059	Ω
interests 7 Investments in securities	060	$\Omega$
	061	2.829.859	2.863.673
8 Loans, deposits, etc. given 9 Other financial assets	062	$\Omega$
IV CASH AT BANK AND IN HAND		1.826.193	1.067.810
	063	73.778
D) PREPAID EXPENSES AND ACCRUED INCOME	064		836.823.355
E) TOTAL ASSETS (ADP 001+002+037+064)	065	860.042.280	8.478.312
OFF-BALANCE SHEET ITEMS	066	32.571.803
LIABILITIES
A) CAPITAL AND RESERVES (ADP 068 to	067	631.887.468	629.875.281
I INITIAL (SUBSCRIBED) CAPITAL	068	249.600.060	249.600.060
II CAPITAL RESERVES	069	10.368.102	10.368.101
III RESERVES FROM PROFIT (ADP 071+072-073+074+075)	070	51.100.618	51.100.618
1 Legal reserves	071	12.480.003	12.480.003
2 Reserves for treasury shares	072	38.620.615	38.620.615
3 Treasury shares and holdings (deductible item)	073	0	0
4 Statutory reserves	074	0	$\mathbf{0}$
5 Other reserves	075	$\overline{0}$	$\mathbf 0$
IV REVALUATION RESERVES	076	$\mathbf 0$	$\mathbf 0$
V FAIR VALUE RESERVES (ADP 078 to 080)	077	$\overline{0}$	$\overline{0}$
1 Fair value of financial assets available for sale	078	0	$\overline{0}$
2 Cash flow hedge - effective portion	079	0	$\mathbf 0$
3 Hedge of a net investment in a foreign operation - effective portion	080	$\mathbf 0$	$\mathbf{0}$
VI RETAINED PROFIT OR LOSS BROUGHT FORWARD (ADP 082- $ 083\rangle$	081	219.256.394	320.818.688
1 Retained profit	082	219.256.394	320.818.688
2 Loss brought forward	083	$\Omega$	$\overline{0}$
VII PROFIT OR LOSS FOR THE BUSINESS YEAR (ADP 085-086)	084	101.562.294	$-2.012.186$
1 Profit for the business year	085	101.562.294
2 Loss for the business year	086	0	2.012.186
VIII MINORITY (NON-CONTROLLING) INTEREST	087	0
		7.450.057	7.450.057
B) PROVISIONS (ADP 089 to 094)	088
1 Provisions for pensions, termination benefits and similar obligations	089	0	$\mathbf{0}$
2 Provisions for tax liabilities	090	0	0
3 Provisions for ongoing legal cases	091	0	0
4 Provisions for renewal of natural resources	092	0	0
5 Provisions for warranty obligations	093	$\Omega$	$\Omega$
6 Other provisions	094	7.450.057	7.450.057
C) LONG-TERM LIABILITIES (ADP 096 to 106)	095	$\Omega$
1 Liabilities to undertakings within the group	096	0	0
2 Liabilities for loans, deposits, etc. of undertakings within the group	097	0	$\mathbf 0$
3 Liabilities to companies linked by virtue of participating interests	098	$\overline{0}$	0
4 Liabilities for loans, deposits etc. of companies linked by virtue of
participating interests	099	0	0
5 Liabilities for loans, deposits etc.	100	0	0
6 Liabilities to banks and other financial institutions	101	0	$\overline{0}$
7 Liabilities for advance payments	102	0	$\overline{0}$
8 Liabilities to suppliers	103	$\mathbf{0}$	$\overline{0}$

9 Liabilities for securities	104	0	0
10 Other long-term liabilities	105
11 Deferred tax liability	106
D) SHORT-TERM LIABILITIES (ADP 108 to 121)	107	220.560.841	199.486.528
1 Liabilities to undertakings within the group	108	1.560.347	1.098.537
2 Liabilities for loans, deposits, etc. of undertakings within the group	109
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		0
5 Liabilities for loans, deposits etc.	112	19.363.109	33.704.511
6 Liabilities to banks and other financial institutions	113
7 Liabilities for advance payments	114	6.944.781	3.897.193
8 Liabilities to suppliers	115	133.818.512	106.178.275
9 Liabilities for securities	116
10 Liabilities to employees	117	164.390	113.941
11 Taxes, contributions and similar liabilities	118	624.287	198.571
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	54.264.537
E) ACCRUALS AND DEFERRED INCOME	122	143.914	11.489
F) TOTAL - LIABILITIES (ADP 067+088+095+107+122)	123	860.042.280	836.823.355
G) OFF-BALANCE SHEET ITEMS	124	32.571.803	8.478.312

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
$\mathbf{1}$	$\mathbf{z}$	$\overline{\mathbf{3}}$	$\overline{4}$	5	6
OPERATING INCOME (ADP 126 to 130)	125	415.527.648	324.699.469	12.848.792	3.297.180
1 Income from sales with undertakings within the group	126	12.037.519	3.835.237	439.929	439.929
2 Income from sales (outside group)	127	279.166.879	198.774.791	11.834.968	2.764.124
3 Income from the use of own products, goods and services	128	16.700	5.695	8.720	$\mathbf{0}$
4 Other operating income with undertakings within the group	129		$\Omega$	$\Omega$	$\Omega$
5 Other operating income (outside the group)	130	124.306.550	122.083.746	565.175	93.127
II OPERATING EXPENSES (ADP 132+133+137+141+142+143+146+153)	131	322.254.199	231.081.240	18.513.569	4.845.285
1 Changes in inventories of work in progress and finished goods	132	$-54.296.887$	$-71.714.937$	5.320.998	1.934.567
2 Material costs (ADP 134 to 136)	133	355.193.349	293.628.388	10.368.700	1.515.577
a) Costs of raw materials and consumables	134	173.133.463	170.676.995	124.176	14.398
b) Costs of goods sold	135	171.725.945	117.870.344	6.881.256 3.363.268	831.623 669.556
c) Other external costs 3 Staff costs (ADP 138 to 140)	136 137	10.333.941 10.258.407	5.081.049 4.757.411	1.395.324	645.026
a) Net salaries and wages	138	6.464.634	2.954.147	765.916	350.856
b) Tax and contributions from salary costs	139	2.433.684	1.173.957	431.787	202.814
c) Contributions on salaries	140	1.360.089	629.307	197.621	91.356
4 Depreciation	141	6.010.238	1.405.038	566.871	272.226
5 Other costs	142	2.847.680	1.441.288	459.510	188.777
6 Value adjustments (ADP 144+145)	143	$\overline{0}$	$\mathbf{0}$	$\Omega$	$\overline{0}$
a) fixed assets other than financial assets	144	$\Omega$	$\Omega$	$\Omega$	$\overline{0}$
b) current assets other than financial assets	145	$\Omega$	$\mathbf{0}$	$\mathbf{0}$	$\overline{0}$
7 Provisions (ADP 147 to 152)	146	$\overline{0}$	$\bf{0}$	$\overline{0}$	$\overline{0}$
a) Provisions for pensions, termination benefits and similar obligations	147	$\Omega$	$\mathbf{0}$	$\Omega$	$\circ$
b) Provisions for tax liabilities	148	$\Omega$	$\mathbf{0}$	$\Omega$	$\overline{0}$
c) Provisions for ongoing legal cases	149	0	$\Omega$	$\overline{0}$	$\overline{0}$
d) Provisions for renewal of natural resources	150	$\Omega$	$\mathbf{0}$	$\overline{0}$	$\overline{0}$
e) Provisions for warranty obligations	151	$\Omega$	$\mathbf{0}$	$\mathbf{0}$	$\overline{0}$
f) Other provisions	152	$\Omega$	$\Omega$	$\Omega$	$\overline{0}$
8 Other operating expenses	153	2.241.412	1.564.052	402.166	289.112
III FINANCIAL INCOME (ADP 155 to 164)	154	23.935.924	13.999.589	6.366.644	2.747.835
1 Income from investments in holdings (shares) of undertakings within the group	155	$\Omega$	0	$\Omega$	$\overline{0}$
2 Income from investments in holdings (shares) of companies linked by virtue of participating interests	156		$\mathbf{0}$	$\Omega$	$\overline{0}$
3 Income from other long-term financial investment and loans granted to
undertakings within the group	157	0	$\Omega$	$\Omega$	$\Omega$
4 Other interest income from operations with undertakings within the	158	5.963.354	2.822.945	5.513.905	2.215.700
group 5 Exchange rate differences and other financial income from operations
with undertakings within the group	159		0	0	0
6 Income from other long-term financial investments and loans	160	$\Omega$	$\Omega$	$\Omega$	$\mathbf{0}$
7 Other interest income	161	144.286	21.749	75.521	37.656
8 Exchange rate differences and other financial income	162	1.844.968	1.745.213	777.218	494.479
9 Unrealised gains (income) from financial assets	163	$\overline{0}$	0	0	0
10 Other financial income	164	15.983.316	9.409.682	$\Omega$	$\overline{0}$
IV FINANCIAL EXPENSES (ADP 166 to 172)	165	10.651.032	6.586.075	2.714.053	600.480
1 Interest expenses and similar expenses with undertakings within the group	166	671.993	671.993	18.405	8.655
2 Exchange rate differences and other expenses from operations with
undertakings within the group	167	$\mathbf{O}$	$\Omega$	324.158	324.158
3 Interest expenses and similar expenses	168	6.333.266	3.231.161	504.329	106.390
4 Exchange rate differences and other expenses	169	972.454	468.682	1.867.161	161.277
5 Unrealised losses (expenses) from financial assets	170	$\Omega$	$\Omega$	0	$\mathbf 0$
6 Value adjustments of financial assets (net)	171			0 $\overline{0}$	$\mathbf{0}$ $\mathbf 0$
7 Other financial expenses SHARE IN PROFIT FROM UNDERTAKINGS LINKED BY VRITUE OF v	172	2.673.319	2.214.239
PARTICIPATING INTERESTS	173	$\mathbf{0}$	$\Omega$	$\Omega$	0
VI SHARE IN PROFIT FROM JOINT VENTURES	174	$\circ$	$\Omega$	$\Omega$	$\mathbf 0$
VII SHARE IN LOSS OF COMPANIES LINKED BY VIRTUE OF	175	0	$\Omega$	$\Omega$	$\mathbf 0$
PARTICIPATING INTEREST VIII SHARE IN LOSS OF JOINT VENTURES	176	$\Omega$	$\Omega$	$\Omega$	$\overline{0}$
IX TOTAL INCOME (ADP 125+154+173 + 174)	177	439.463.572	338.699.058	19.215.436	6.045.015
TOTAL EXPENDITURE (ADP 131+165+175 + 176)	178	332.905.231	237.667.315	21.227.622	5.445.765
XI PRE-TAX PROFIT OR LOSS (ADP 177-178)	179	106.558.341	101.031.743	$-2.012.186$	599.250
1 Pre-tax profit (ADP 177-178)	180	106.558.341	101.031.743	$\overline{0}$	599.250

in HRK

2 Pre-tax loss (ADP 178-177)	181	$\overline{0}$	$\overline{0}$	$-2.012.186$	$\overline{0}$
XII INCOME TAX	182	$\Omega$	$\Omega$	$\Omega$	$\Omega$
XIII PROFIT OR LOSS FOR THE PERIOD (ADP 179-182)	183	106.558.341	101.031.743	$-2.012.186$	599.250
1 Profit for the period (ADP 179-182)	184	106.558.341	101.031.743	$\Omega$	599.250
2 Loss for the period (ADP 182-179)	185		$\overline{0}$	$-2.012.186$	$\overline{0}$
DISCONTINUED OPERATIONS (to be filled in by undertakings subject to IFRS only with discontinued operations)
XIV PRE-TAX PROFIT OR LOSS OF DISCONTINUED OPERATIONS (ADP 187-188)	186		$\overline{0}$	$\overline{0}$	$\overline{0}$
1 Pre-tax profit from discontinued operations	187	$\Omega$	$\overline{0}$	$\Omega$	0
2 Pre-tax loss on discontinued operations	188	$\Omega$	$\mathbf{0}$	$\overline{0}$	$\circ$
XV INCOME TAX OF DISCONTINUED OPERATIONS	189	$\Omega$	$\Omega$	$\Omega$	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	n	$\overline{0}$	$\Omega$	$\overline{0}$
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	$\overline{0}$	$\overline{0}$	$\overline{0}$	$\overline{0}$
1 Pre-tax profit (ADP 192)	193	$\Omega$	$\Omega$	$\Omega$	$\overline{0}$
2 Pre-tax loss (ADP 192)	194	$\overline{0}$	$\overline{0}$	$\overline{0}$	$\overline{0}$
	195	$\overline{0}$	$\overline{0}$	$\overline{0}$	$\overline{0}$
XVII INCOME TAX (ADP 182+189) XVIII PROFIT OR LOSS FOR THE PERIOD (ADP 192-195)	196	$\overline{0}$	$\overline{0}$	$\overline{0}$	$\overline{0}$
	197	$\overline{0}$	$\overline{0}$	$\overline{0}$	$\overline{0}$
1 Profit for the period (ADP 192-195)	198		$\overline{0}$	$\Omega$	$\overline{0}$
2 Loss for the period (ADP 195-192)
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	$\Omega$	$\overline{0}$	$\overline{0}$	$\vert$ 0 $\Omega$
1 Attributable to owners of the parent	200	0	$\overline{0}$	$\overline{0}$
2 Attributable to minority (non-controlling) interest	201	$\Omega$	$\overline{0}$	$\overline{0}$	$\Omega$
STATEMENT OF OTHER COMPRHENSIVE INCOME (to be filled in by undertakings subject to IFRS)
I PROFIT OR LOSS FOR THE PERIOD	202	106.558.341	101.031.743	$-2.012.186$	599.250
II OTHER COMPREHENSIVE INCOME/LOSS BEFORE TAX (ADP 204 to 211)	203		0	$\Omega$	$\overline{0}$
1 Exchange rate differences from translation of foreign operations	204	$\Omega$	$\Omega$	0	$\Omega$
2 Changes in revaluation reserves of fixed tangible and intangible assets	205	$\Omega$	0	0	$\Omega$
3 Profit or loss arising from subsequent measurement of financial assets available for sale	206	$\mathbf{0}$	$\Omega$	$\overline{0}$	$\Omega$
4 Profit or loss arising from effective cash flow hedging	207	0	$\overline{0}$	0	$\Omega$
5 Profit or loss arising from effective hedge of a net investment in a foreign operation	208	0	$\overline{0}$	0	$\Omega$
6 Share in other comprehensive income/loss of companies linked by virtue of participating interests	209	$\mathbf 0$	$\overline{0}$	$\Omega$	$\Omega$
7 Actuarial gains/losses on the defined benefit obligation	210	$\mathbf{0}$	οI	$\Omega$	$\circ$
8 Other changes in equity unrelated to owners	211	$\overline{0}$	$\Omega$	$\Omega$	$\Omega$
III TAX ON OTHER COMPREHENSIVE INCOME FOR THE PERIOD	212	$\overline{0}$	$\overline{0}$	$\overline{0}$	$\circ$
IV NET OTHER COMPREHENSIVE INCOME OR LOSS (ADP 203-212)	213	$\Omega$	$\Omega$	0	$\overline{0}$
V COMPREHENSIVE INCOME OR LOSS FOR THE PERIOD (ADP $202+213$	214	106.558.341	101.031.743	$-2.012.186$	599.250
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			0	$\Omega$
1 Attributable to owners of the parent	216	$\mathbf{0}$	$\mathbf{0}$	$\Omega$	$\overline{0}$
2 Attributable to minority (non-controlling) interest	217	$\overline{0}$	$\Omega$	$\Omega$	$\Omega$

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

			in HRK
Submitter: VIRO TVORNICA ŠEĆERA d.d. Item	ADP code	Same period of the previous year	Current period
$\mathbf{1}$	$\overline{2}$	$\mathbf{3}$	4
Cash flow from operating activities 1 Pre-tax profit	001		$-2.012.186$
2 Adjustments (ADP 003 to 010):	002	106.558.341 6.010.238	566.871
a) Depreciation	003	6.010.238	566.871
b) Gains and losses from sale and value adjustment of fixed tangible and
intangible assets	004	n
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	$\mathbf{0}$	0
f) Provisions	008	0	0
g) Exchange rate differences (unrealised)	009	$\Omega$	0
h) Other adjustments for non-cash transactions and unrealised gains and losses	010
I Cash flow increase or decrease before changes in working capital (ADP 001+002)	011	112.568.579	$-1.445.315$
3 Changes in the working capital (ADP 013 to 016)	012	$-52.186.909$	$-12.501.420$
a) Increase or decrease in short-term liabilities	013	91.720.964	$-35.634.121$
b) Increase or decrease in short-term receivables	014	-206.003.232	6.801.105
c) Increase or decrease in inventories	015	17.274.991	20.462.079
d) Other increase or decrease in working capital	016	44.820.368	$-4.130.483$
Il Cash from operations (ADP 011+012)	017	60.381.670	$-13.946.735$
4 Interest paid	018
5 Income tax paid	019
A) NET CASH FLOW FROM OPERATING ACTIVITIES (ADP 017 to 019)	020	60.381.670	$-13.946.735$
Cash flow from investment activities
1 Cash receipts from sales of fixed tangible and intangible assets	021	87.608.345	344.310
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
6 Other cash receipts from investment activities	026	7.058.313	55.371
III Total cash receipts from investment activities (ADP 021 to 026)	027	101.444.088	455.450
1 Cash payments for the purchase of fixed tangible and intangible assets	028	$-23.295.200$	$-696.180$
2 Cash payments for the acquisition of financial instruments	029
3 Cash payments for loans and deposits for the period	030
4 Acquisition of a subsidiary, net of cash acquired	031
5 Other cash payments from investment activities	032	$-1.847.658$	$-1.130.726$
IV Total cash payments from investment activities (ADP 028 to 032)	033	$-25.142.858$	$-1.826.906$
B) NET CASH FLOW FROM INVESTMENT ACTIVITIES (ADP 027 +033)	034	76.301.230	$-1.371.456$
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
3 Cash receipts from credit principals, loans and other borrowings	037	53.539.909	14.559.808
4 Other cash receipts from financing activities	038	1.900.000
V Total cash receipts from financing activities (ADP 035 to 038)	039	55.439.909	14.559.808
1 Cash payments for the repayment of credit principals, loans and other borrowings and debt financial instruments	040	$-176.154.169$
2 Cash payments for dividends	041		0
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	$-3.800.000$	$\Omega$
VI Total cash payments from financing activities (ADP 040 to 044)	045	$-180.824.556$
C) NET CASH FLOW FROM FINANCING ACTIVITIES (ADP 039 +045)	046	$-125.384.647$	14.559.808
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	11.298.253	$-758.383$
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	11.515.011	1.067.810

IN EQUIT
T OF CUANCES ויים ויים ויים של היה לאומר היה להורית היה להורית היה להורית היה להורית היה להורית היה להורית היה להורית היה ל לאומר היה להורית היה להורית היה להורית היה להורית היה להורית היה להורית היה להורית היה להורית היה להורית היה	30.6.2026
	£
STATEMENT

SIA IEMENIO FURANGES IN EQUIT 1.1.2020 to 30.8.2020 for the period from 1.1.2020
ł.	à i	stat (subscribed) capital reserves
ę
Balance on the first day of the previous business year		249.600.060	10.368.102	8	8						š 21Q
Changes in accounting policies Correction of errors	588	$\circ$					000		000	000		000
Balance on the first day of the previous business year (restated) (ADP 01 to		249.600.060	10,366,102										뭕	530.325
offices of the period	388					00000000		00000000	$O$ $O$	00	$O$ $O$	$\overline{\phi}$ ē	ē
Exchange rate differences from translation of foreign operations	õ	$\circ$					0000
Changes in revaluation reserves of fixed tangible and intangible assets		$\circ$
Profit or loss arising from subsequent measurement of financial assets available for	8	$\overline{\circ}$				0.0.		$\sigma$
Profit or loss arising from effective cash flow hedge	$\epsilon$	$\circ$						$-0$ 0.		$\circ$
profit or loss arising from effective hedge of a net investment in a foreign operation	$\hbox{\small\ensuremath{\mathfrak{p}}}$	$\circ$				$\circ$
Share in other comprehensive incomediate of companies linked by vitue of ricipating interests		$\overline{\circ}$	$\circ$
Actuarial gains/losses on the defined benefit obligation	7777	000				0.000	000	0000		000		000
3 Other changes in equity unrelated to owners If I'ax on transactions recognised directly in equity
increase/decrease in Initial (subscribed) capital (differ than from newsling profit I obser then anising from the pre-bankruphcy estimment procedure)	$\ddot{ }$	$\circ$				$\circ$
ncrease in initial (subscribed) capital arising from the reinvestment of profit	$\overline{\mathbf{r}}$	$\circ$				$\overline{\phantom{0}}$
Increase in Initial (subscribed) capital arising from the pre-bankruptcy settlement Sport	$\ddot{\rm s}$	$\circ$				$\circ$		$\circ$			$\circ$
Redemption of treasury shares/holdings
9 Payment of share in profit/dividend 0 Other distribution to owners
	SSEER	00000				000000		00000		00000	0000
Transfer to reserve according to the annual schedule. Horeans in reserves arising from the pre-backuping year dismined procedure. Balance on the last day of the previous business year reporting perfect (24 to
		249.000.000	10,368.102										ē
PENDIX TO THE STATEMENT OF CHANGES IN EQUITY (to be filled in by		th an an	fax in aco
1 OTHER COMPREHENSIVE INCOME OF THE PREVIOUS PERIOD, NET OF AX (ADP 05 to 14)	$\overline{\mathbf{a}}$	$\circ$
COMPREHENSIVE INCOME OR LOSS FOR THE PREVIOUS PERIOD (ADP $\overline{a}$	n	$\circ$											ē
	$\boldsymbol{\mathsf{g}}$	$\circ$
TRANSACTIONS WITH OWNERS IN THE PREVIOUS PERIOD RECOGNISED IRECTLY IN EQUITY (ADP 15 to 22)
rent period Balance on the first day of the current business year		249.600.060	10.988.102	g	615 8						320.818		ā
Changes in accounting policies		00				000		000	000	000	$8^{\circ}$	000
Correction of errors	RRR		ī
Balance on the first day of the current business year (restated) (ADP 27 to 29)		249 500.050	10,368.101
Exchange rate differences from translation of foreign operations Profit/loss of the period	$\overline{n}$ 2	$\bullet$	$\circ$ ्य			$O$ $O$		$\circ$	$O$ $O$	0.0	$\circ$ $\circ$	் 8
	$\,$ 2		$\overline{\circ}$			$\circ$			۰۵.	`ರ
Profit or loss arising from subsequent measurement of financial assets available for Changes in revaluation reserves of fried langible and intangible assets		$\overline{\circ}$
	$\rm{z}$	$\circ$	$\circ$			$\circ$		$\overline{\circ}$	$\circ$	$\circ$
Profit or loss arising from effective cash flow hedge	$\ddot{\tilde{\pi}}$	$\circ$	$\overline{\circ}$							o.
O Profit or loss arising from effective hedge of a net investment in a foreign operation	$\bf{g}$	$\overline{a}$	$\circ$					$\circ$		$\circ$
Share in other comprehensive income/loss of companies linked by virtue of	$\approx$	$\overline{\circ}$	$\circ$					$\overline{\circ}$		$\circ$		$\circ$
ticipating interests Actuarial gains/losses on the defined benefit obligation						0.000
Other changes in equity unrelated to owners	223	000	0.0.0					000		000		000
Tax on transactions neciginised directly in equity Increase/decreases in Intilal (subscribed) capital (other than from nelinvesting profit d other than anising from the pre-bankrupiny settlement procedure)	$\overline{\ast}$							$\overline{\phantom{a}}$
			$\overline{c}$
increase in initial (subscribed) capital arising from the reinvestment of profit	4	$\overline{c}$	$\overline{\circ}$					$\overline{\circ}$
Increase in Initial (subscribed) capital arising from the pre-bankniptcy settlement sanpe:	$\overline{\mathbf{u}}$	$\overline{c}$	$\circ$					$\overline{\phantom{a}}$
Redemption of treasury strains/holdings	$\ddot{\textbf{z}}$		$\circ$
Payment of share in profit/dividend Other distribution to owners	华草	000	00			00000		00000		00000
	$\ddot{\phantom{a}}$	$\overline{\phantom{a}}$	$\circ$
Transfer lo neseves according to the annual schedule Increase in resevese anishy from the pre-bankupticy editionnel procedure Ballance on the last day of the cummit bustiness year reporting perfor (ICP)			$\circ$
to 48)	$\frac{9}{4}$	249.000.090	10,368.101								š		8
PENDIX TO THE STATEMENT OF CHANGES IN EQUITY (to be filled in by OTHER COMPREHENSIVE INCOME FOR THE CURRENT PERIOD, NET OF
	\$
(ADP 32 IND) In Code President Incole on Loss For the Current Period (ADP) 11-50	5
TRANSACTIONS WITH OWNERS IN THE CURRENT PERIOD RECOGNISED
Contract	s

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 changes $d$ ) a

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