Viro Tvornica ŠEĆERA d.d.

Quarterly Report • Oct 30, 2020

STATEMENT OF PERSON RESPONSIBLE FOR PRODUCTION OF THE THREE-MONTH REPORT FOR 30 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 ŠEĆERA d.d., Zagreb for the period I-IX 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 October 23, 2020

TVORNICA ŠEČERA 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:		30.09.2020. 01.01.2019. to
Year:		2019
Quarter:		3.
		Quarterly financial statements
egistration number (MB):	01650971	Issuer's home Member HR State code:
Entity's registration number (MBS):	010049135
Personal identification number (OIB):	04525204420	5493006LGN8RLWC2UL05 LEI:
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):		MB: Registered office:
Bookkeeping firm:	No	(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 30.09.2020

			in HRK
Submitter: VIRO TVORNICA ŠEĆERA d.d.		Last day of the	At the reporting date
Item	ADP code	preceding business	of the current period
1	$\overline{2}$	vear $\overline{\mathbf{3}}$	4
A) RECEIVABLES FOR SUBSCRIBED CAPITAL UNPAID	001	$\Omega$
B) FIXED ASSETS (ADP 003+010+020+031+036)	002	539.123.292	539.098.606
I INTANGIBLE ASSETS (ADP 004 to 009)	003	$\Omega$
1 Research and development	004	$\overline{0}$	0
2 Concessions, patents, licences, trademarks, software and other	005	0	0
rights 3 Goodwill	006	0	$\mathbf 0$
4 Advances for the purchase of intangible assets	007	$\Omega$	$\mathbf 0$
5 Intangible assets in preparation	008	0	$\mathbf{0}$
6 Other intangible assets	009	0	$\Omega$
II TANGIBLE ASSETS (ADP 011 to 019)	010	65.191.679	29.133.424
1 Land	011	23.538.630	23.538.630
2 Buildings	012	1.824.100	1.612.713
3 Plant and equipment	013	2.384.080	558.112
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
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	1.184.574
III FIXED FINANCIAL ASSETS (ADP 021 to 030)	020	473.931.613	509.965.182
1 Investments in holdings (shares) of undertakings within the group	021	407.586.783	407.591.967
2 Investments in other securities of undertakings within the group	022
3 Loans, deposits, etc. to undertakings within the group	023	63.021.922	64.627.305
4. Investments in holdings (shares) of companies linked by virtue of
participating interests	024	Ω
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 linterests	026	0
7 Investments in securities	027	17.908	18.153
8 Loans, deposits, etc. given	028	3.305.000	3.334.247
9 Other investments accounted for using the equity method	029	0
10 Other fixed financial assets	030	0	34.393.510
IV RECEIVABLES (ADP 032 to 035)	031	$\overline{0}$	$\Omega$
1 Receivables from undertakings within the group	032	0	$\overline{0}$
2 Receivables from companies linked by virtue of participating
interests	033	0	0
3 Customer receivables	034	0	$\mathbf{0}$
4 Other receivables	035	0	$\mathbf{0}$
V DEFERRED TAX ASSETS	036	$\Omega$
C) CURRENT ASSETS (ADP 038+046+053+063)	037	320.845.210	296.321.327
I INVENTORIES (ADP 039 to 045)	038	28.212.969	19.796.908
1 Raw materials and consumables	039	536.944	70.935
2 Work in progress	040
3 Finished goods	041	7.687.154	1.861.961
4 Merchandise	042	18.727.690	17.473.941
5 Advances for inventories	043	1.261.181	390.071
6 Fixed assets held for sale	044
7 Biological assets	045	U
II RECEIVABLES (ADP 047 to 052)	046	80.285.191	58.846.805
1 Receivables from undertakings within the group	047	67.013.639	47.135.539
2 Receivables from companies linked by virtue of participating	048
interests
3 Customer receivables	049	10.247.084	9.179.076

4 Receivables from employees and members of the undertaking	050	0	0
5 Receivables from government and other institutions	051	2.491.595	2.237.605
6 Other receivables III CURRENT FINANCIAL ASSETS (ADP 054 to 062)	052	532.873 210.520.857	294.585 217.583.155
1 Investments in holdings (shares) of undertakings within the group	053 054	$\Omega$	$\mathbf{0}$
2 Investments in other securities of undertakings within the group	055	0	$\Omega$
3 Loans, deposits, etc. to undertakings within the group	056	207.690.998	215.321.683
4 Investments in holdings (shares) of companies linked by virtue of participating interests	057	0
5 Investment in other securities of companies linked by virtue of participating interests	058	0	$\Omega$
6 Loans, deposits etc. to companies linked by virtue of participating interests	059	$\Omega$	0
7 Investments in securities	060	$\mathbf 0$
8 Loans, deposits, etc. given	061	2.829.859	2.261.472
9 Other financial assets	062	$\Omega$
IV CASH AT BANK AND IN HAND	063	1.826.193	94.459
D) PREPAID EXPENSES AND ACCRUED INCOME	064	73.778
E) TOTAL ASSETS (ADP 001+002+037+064)	065	860.042.280	835.419.933
OFF-BALANCE SHEET ITEMS	066	32.571.803	8.529.182
LIABILITIES
A) CAPITAL AND RESERVES (ADP 068 to	067	631.887.468	636.503.065
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 38.620.615	12.480.003 38.620.615
2 Reserves for treasury shares 3 Treasury shares and holdings (deductible item)	072 073	$\Omega$
4 Statutory reserves	074	$\mathbf{0}$	$\overline{0}$
5 Other reserves	075	$\Omega$	$\mathbf 0$
IV REVALUATION RESERVES	076	$\mathbf 0$	$\overline{0}$
V FAIR VALUE RESERVES (ADP 078 to 080)	077	$\overline{0}$	$\overline{0}$
1 Fair value of financial assets available for sale	078	0	$\mathbf{0}$
2 Cash flow hedge - effective portion	079	$\mathbf{0}$	$\mathbf 0$
3 Hedge of a net investment in a foreign operation - effective portion	080	$\Omega$	$\overline{0}$
VI RETAINED PROFIT OR LOSS BROUGHT FORWARD (ADP 082-	081	219.256.394	320.818.688
083)
1 Retained profit 2 Loss brought forward	082 083	219.256.394 $\Omega$	320.818.688
VII PROFIT OR LOSS FOR THE BUSINESS YEAR (ADP 085-086)	084	101.562.294	4.615.598
1 Profit for the business year	085	101.562.294	4.615.598
2 Loss for the business year	086	0
VIII MINORITY (NON-CONTROLLING) INTEREST	087	$\Omega$
B) PROVISIONS (ADP 089 to 094)	088	7.450.057	7.450.057
1 Provisions for pensions, termination benefits and similar obligations	089	0	0
2 Provisions for tax liabilities	090	$\mathbf{0}$	0
3 Provisions for ongoing legal cases	091	$\mathbf 0$	0
4 Provisions for renewal of natural resources	092	$\mathbf{0}$	$\overline{0}$
5 Provisions for warranty obligations	093	$\mathbf{0}$	$\Omega$
6 Other provisions	094	7.450.057	7.450.057
C) LONG-TERM LIABILITIES (ADP 096 to 106)	095
1 Liabilities to undertakings within the group	096	$\mathbf{0}$	$\overline{0}$
2 Liabilities for loans, deposits, etc. of undertakings within the group	097	0	0
3 Liabilities to companies linked by virtue of participating interests	098	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	$\mathbf 0$	$\,0\,$
6 Liabilities to banks and other financial institutions	101	$\mathbf 0$	$\overline{0}$
		$\mathbf{0}$	$\overline{0}$
7 Liabilities for advance payments 8 Liabilities to suppliers	102 103	$\mathbf{0}$	0

9 Liabilities for securities	104		$\overline{0}$
10 Other long-term liabilities	105		$\overline{0}$
11 Deferred tax liability	106		$\Omega$
D) SHORT-TERM LIABILITIES (ADP 108 to 121)	107	220.560.841	191.465.720
1 Liabilities to undertakings within the group	108	1.560.347	1.121.236
2 Liabilities for loans, deposits, etc. of undertakings within the group	109		$\Omega$
3 Liabilities to companies linked by virtue of participating interests	110		$\overline{0}$
4 Liabilities for loans, deposits etc. of companies linked by virtue of participating interests	111		$\overline{0}$
5 Liabilities for loans, deposits etc.	112	19.363.109	33.234.511
6 Liabilities to banks and other financial institutions	113		49.769.504
7 Liabilities for advance payments	114	6.944.781	1.782.743
8 Liabilities to suppliers	115	133.818.512	104.731.385
9 Liabilities for securities	116
10 Liabilities to employees	117	164.390	39.113
11 Taxes, contributions and similar liabilities	118	624.287	203.266
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	552.999
E) ACCRUALS AND DEFERRED INCOME	122	143.914	1.091
F) TOTAL - LIABILITIES (ADP 067+088+095+107+122)	123	860.042.280	835.419.933
G) OFF-BALANCE SHEET ITEMS	124	32.571.803	8.529.182

STATEMENT OF PROFIT OR LOSS for the period 01.01.2020 to 30.09.2020

Submitter: VIRO TVORNICA ŠEĆERA d.d.

Item	ADP		Same period of the previous year		Current period
	code	Cumulative	Quarter	Cumulative	Quarter
	$\overline{2}$	$\overline{3}$	4	$5\overline{)}$	$6\phantom{.}$
I OPERATING INCOME (ADP 126 to 130)	125	581.392.505	165.864.857	25.551.684	12.702.892
1 Income from sales with undertakings within the group	126	24.735.966	12.698.447	4.360.941	3.921.012
2 Income from sales (outside group) 3 Income from the use of own products, goods and services	127 128	419.032.746	139.865.867	14.668.478	2.833.510
4 Other operating income with undertakings within the group	129	22.299 $\Omega$	5.599 $\Omega$	12.372 $\Omega$	3.652 0
5 Other operating income (outside the group)	130	137.601.494	13.294.944	6.509.893	5.944.718
II OPERATING EXPENSES (ADP 132+133+137+141+142+143+146+153)	131	496.897.396	174.643.197	26.648.071	8.134.502
1 Changes in inventories of work in progress and finished goods					504.195
2 Material costs (ADP 134 to 136)	132 133	11.400.341 448.460.822	65.697.228 93.267.473	5.825.193 16.691.753	6.323.053
a) Costs of raw materials and consumables	134	173.954.972	821.509	140.283	16.107
b) Costs of goods sold	135	256.332.867	84.606.922	12.864.370	5.983.114
c) Other external costs	136	18.172.983	7.839.042	3.687.100	323.832
3 Staff costs (ADP 138 to 140)	137	11.209.943	951.536	1.710.432	315.108
a) Net salaries and wages	138	6.998.175	533.541	941.399	175.483
b) Tax and contributions from salary costs	139	2.716.912	283.228	526.783	94.996
c) Contributions on salaries	140	1.494.856	134.767	242.250	44.629
4 Depreciation	141	6.318.755	308.517	835.863	268.992
5 Other costs	142	4.131.820	1.284.140	962.598	503.088
6 Value adjustments (ADP 144+145)	143	$\overline{0}$	$\overline{0}$	$\overline{0}$	$\overline{0}$
a) fixed assets other than financial assets	144	$\mathbf 0$	$\overline{0}$	$\overline{0}$	$\mathbf 0$
b) current assets other than financial assets 7 Provisions (ADP 147 to 152)	145 146	$\mathbf 0$ $\overline{0}$	$\mathbf 0$ $\overline{0}$	$\mathbf 0$ $\overline{0}$	$\mathbf 0$ $\overline{0}$
a) Provisions for pensions, termination benefits and similar obligations	147	$\mathbf 0$	$\mathbf 0$	$\bf{0}$	$\mathbf 0$
b) Provisions for tax liabilities	148	$\mathbf 0$	$\mathbf 0$	$\mathbf 0$	$\circ$
c) Provisions for ongoing legal cases	149	$\mathbf 0$	$\mathbf{0}$	$\mathbf 0$	$\mathbf 0$
d) Provisions for renewal of natural resources	150	$\mathbf 0$	$\mathbf 0$	$\mathbf 0$	$\mathbf 0$
e) Provisions for warranty obligations	151	$\mathbf 0$	$\mathbf{0}$	$\mathbf{0}$	$\mathbf 0$
f) Other provisions	152	$\mathbf{0}$	$\mathbf{0}$	$\mathbf{0}$	$\mathbf{0}$
8 Other operating expenses	153	15.375.715	13.134.303	622.232	220.066
III FINANCIAL INCOME (ADP 155 to 164)	154	27.511.579	3.575.655	9.262.145	2.895.501
1 Income from investments in holdings (shares) of undertakings within the group	155	0	0	0	$\mathbf 0$
2 Income from investments in holdings (shares) of companies linked by	156	0	0	0	$\mathbf 0$
virtue of participating interests
3 Income from other long-term financial investment and loans granted to undertakings within the group	157	$\mathbf{0}$	O	0	$\mathbf 0$
4 Other interest income from operations with undertakings within the
group	158	8.733.020	2.769.666	6.691.249	1.177.344
5 Exchange rate differences and other financial income from operations	159	0	0	1.231.482	1.231.482
with undertakings within the group 6 Income from other long-term financial investments and loans	160	$\Omega$			$\mathbf 0$
7 Other interest income	161	203.126	58.840	113.495	37.974
8 Exchange rate differences and other financial income	162	2.109.226	264.258	1.225.919	448.701
9 Unrealised gains (income) from financial assets	163	$\mathbf 0$	$\circ$	$\mathbf 0$	$\mathbf 0$
10 Other financial income	164	16.466.207	482.891	$\mathbf{0}$	$\theta$
IV FINANCIAL EXPENSES (ADP 166 to 172)	165	14.759.281	4.108.249	3.550.160	836.107
1 Interest expenses and similar expenses with undertakings within the group	166	15.391	15.391	24.302	5.897
2 Exchange rate differences and other expenses from operations with	167	671.993	O	580.053	255.895
undertakings within the group				694.818
3 Interest expenses and similar expenses 4 Exchange rate differences and other expenses	168 169	9.917.158 1.430.937	3.583.892 458.483	2.250.987	190.489 383.826
5 Unrealised losses (expenses) from financial assets	170	$\mathbf{0}$	$\mathbf{0}$	$\circ$	$\mathbf 0$
6 Value adjustments of financial assets (net)	171	$\mathbf{0}$	$\mathbf{0}$	$\mathbf 0$	$\mathbf{0}$
7 Other financial expenses	172	2.723.802	50.483	$\mathsf{O}\xspace$	0
V SHARE IN PROFIT FROM UNDERTAKINGS LINKED BY VRITUE OF	173	0	0	0	0
PARTICIPATING INTERESTS VI SHARE IN PROFIT FROM JOINT VENTURES	174	$\pmb{0}$	$\overline{0}$	$\mathbf 0$	$\mathbf 0$
VII SHARE IN LOSS OF COMPANIES LINKED BY VIRTUE OF
PARTICIPATING INTEREST	175	O	0	0	$\mathbf{0}$
VIII SHARE IN LOSS OF JOINT VENTURES	176	$\Omega$	$\Omega$	$\Omega$	$\mathbf{0}$
IX TOTAL INCOME (ADP 125+154+173 + 174)	177	608.904.084	169.440.512	34.813.829	15.598.393
X TOTAL EXPENDITURE (ADP 131+165+175 + 176) $\overline{\mathbf{X}}$	178	511.656.677	178.751.446	30.198.231	8.970.609
PRE-TAX PROFIT OR LOSS (ADP 177-178) 1 Pre-tax profit (ADP 177-178)	179	97.247.407	$-9.310.934$	4.615.598	6.627.784
	180	97.247.407	$\overline{0}$	4.615.598	6.627.784

in HRK

2 Pre-tax loss (ADP 178-177)	181	$\mathbf{0}$	$-9.310.934$	$\bf{0}$	$\overline{0}$
XII INCOME TAX	182	$\mathbf{0}$	$\mathbf{0}$	$\mathbf{0}$	$\Omega$
XIII PROFIT OR LOSS FOR THE PERIOD (ADP 179-182)	183	97.247.407	$-9.310.934$	4.615.598	6.627.784
1 Profit for the period (ADP 179-182)	184	97.247.407	$\Omega$	4.615.598	6.627.784
2 Loss for the period (ADP 182-179)	185	$\Omega$	$-9.310.934$	$\Omega$	$\overline{0}$
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	$\mathbf{O}$	$\mathbf{0}$	$\mathbf 0$	$\overline{0}$
1 Pre-tax profit from discontinued operations	187	$\Omega$	$\Omega$	$\overline{0}$	$\mathbf{0}$
2 Pre-tax loss on discontinued operations	188	$\Omega$	$\Omega$	$\Omega$	$\mathbf{0}$
XV INCOME TAX OF DISCONTINUED OPERATIONS	189	$\overline{0}$	$\Omega$	$\overline{0}$	$\Omega$
1 Discontinued operations profit for the period (ADP 186-189)	190	$\overline{0}$	$\overline{0}$	$\Omega$	$\mathbf{0}$
2 Discontinued operations loss for the period (ADP 189-186)	191	$\overline{0}$	$\overline{0}$	$\overline{0}$	$\overline{0}$
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	$\overline{0}$	$\overline{0}$	$\bf{0}$	$\bf{0}$
1 Pre-tax profit (ADP 192)	193	$\Omega$	$\overline{0}$	$\overline{0}$	$\overline{0}$
2 Pre-tax loss (ADP 192)	194	$\overline{0}$	$\Omega$	$\overline{0}$	$\Omega$
XVII INCOME TAX (ADP 182+189)	195	$\Omega$	$\overline{0}$	$\Omega$	$\mathbf{0}$
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	$\Omega$	$\overline{0}$	$\overline{0}$	$\Omega$
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	$\Omega$	$\overline{0}$	$\Omega$	$\vert 0 \vert$
1 Attributable to owners of the parent	200	$\overline{0}$	$\overline{0}$	$\Omega$	$\overline{0}$
2 Attributable to minority (non-controlling) interest	201	$\Omega$	$\Omega$	$\Omega$	$\overline{0}$
STATEMENT OF OTHER COMPRHENSIVE INCOME (to be filled in by undertakings subject to IFRS)
I PROFIT OR LOSS FOR THE PERIOD	202	97.247.407	$-9.310.934$	4.615.598	6.627.784
II OTHER COMPREHENSIVE INCOME/LOSS BEFORE TAX
(ADP 204 to 211)	203	$\Omega$	$\Omega$		$\vert 0 \vert$
1 Exchange rate differences from translation of foreign operations	204		$\mathbf 0$	0	$\circ$
2 Changes in revaluation reserves of fixed tangible and intangible assets	205		$\Omega$	0	$\Omega$
3 Profit or loss arising from subsequent measurement of financial assets
available for sale	206	$\Omega$	$\Omega$	0	$\Omega$
4 Profit or loss arising from effective cash flow hedging	207	$\Omega$	$\overline{0}$	O	$\Omega$
5 Profit or loss arising from effective hedge of a net investment in a	208		$\Omega$	0	$\Omega$
foreign operation
6 Share in other comprehensive income/loss of companies linked by	209	0	$\overline{0}$	0	$\Omega$
virtue of participating interests 7 Actuarial gains/losses on the defined benefit obligation	210	$\Omega$	$\Omega$	$\Omega$	$\circ$
8 Other changes in equity unrelated to owners	211	$\mathbf{0}$	$\Omega$	$\Omega$	$\Omega$
III TAX ON OTHER COMPREHENSIVE INCOME FOR THE PERIOD	212	$\Omega$	$\Omega$	$\Omega$	$\overline{0}$
IV NET OTHER COMPREHENSIVE INCOME OR LOSS (ADP 203-212)	213				$\Omega$
V COMPREHENSIVE INCOME OR LOSS FOR THE PERIOD (ADP $202 + 213$	214	97.247.407	$-9.310.934$	4.615.598	6.627.784
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				$\Omega$
1 Attributable to owners of the parent	216	$\Omega$	$\mathbf{0}$	$\overline{0}$	$\mathbf{0}$
2 Attributable to minority (non-controlling) interest	217		$\Omega$		$\Omega$

STATEMENT OF CASH FLOWS - indirect method for the period 01.01.2020 . to 30.09.2020.

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	97.247.407	4.615.598
2 Adjustments (ADP 003 to 010):	002	6.318.755	835.863
a) Depreciation	003	6.318.755	835.863
b) Gains and losses from sale and value adjustment of fixed tangible and	004	O
intangible assets c) Gains and losses from sale and unrealised gains and losses and value	005	0
adjustment of financial assets d) Interest and dividend income	006	0
e) Interest expenses	007	$\mathbf{0}$	0
f) Provisions	008	$\mathbf{0}$	0
g) Exchange rate differences (unrealised)	009	0	0
h) Other adjustments for non-cash transactions and unrealised gains and
losses	010	0	0
I Cash flow increase or decrease before changes in working capital (ADP 001+002)	011	103.566.162	5.451.461
3 Changes in the working capital (ADP 013 to 016)	012	$-53.066.424$	$-20.523.491$
a) Increase or decrease in short-term liabilities	013	35.590.106	$-43.190.826$
b) Increase or decrease in short-term receivables	014	$-216.909.866$	21.438.386
c) Increase or decrease in inventories	015	91.863.905	8.416.061
d) Other increase or decrease in working capital	016	36.389.431	$-7.187.112$
Il Cash from operations (ADP 011+012)	017	50.499.738	$-15.072.030$
4 Interest paid	018	$\Omega$
5 Income tax paid	019
A) NET CASH FLOW FROM OPERATING ACTIVITIES (ADP 017 to 019)	020	50.499.738	$-15.072.030$
Cash flow from investment activities
1 Cash receipts from sales of fixed tangible and intangible assets	021	87.803.795	35.851.880
2 Cash receipts from sales of financial instruments	022	$\Omega$
3 Interest received	023	7.124.371	55.769
4 Dividends received	024	$\Omega$
5 Cash receipts from repayment of loans and deposits	025
6 Other cash receipts from investment activities	026	7.058.313	55.372
III Total cash receipts from investment activities (ADP 021 to 026)	027	101.986.479	35.963.021
1 Cash payments for the purchase of fixed tangible and intangible assets	028	$-23.416.644$	$-629.488$
2 Cash payments for the acquisition of financial instruments	029	0	0
3 Cash payments for loans and deposits for the period	030	$\Omega$	$\Omega$
4 Acquisition of a subsidiary, net of cash acquired	031
5 Other cash payments from investment activities	032	$-2.807.722$	$-36.088.941$
IV Total cash payments from investment activities (ADP 028 to 032)	033	$-26.224.366$	$-36.718.429$
B) NET CASH FLOW FROM INVESTMENT ACTIVITIES (ADP 027 +033)	034	75.762.113	$-755.408$
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	0
financial instruments 3 Cash receipts from credit principals, loans and other borrowings
4 Other cash receipts from financing activities	037 038	53.809.147 1.900.000	18.295.704
V Total cash receipts from financing activities (ADP 035 to 038)	039	55.709.147	18.295.704
1 Cash payments for the repayment of credit principals, loans and other	040	$-176.154.169$	0
borrowings and debt financial instruments
2 Cash payments for dividends	041		0
3 Cash payments for finance lease 4 Cash payments for the redemption of treasury shares and decrease in	042	$-259.453$	$\overline{0}$
initial (subscribed) capital	043	$-610.935$	0

5 Other cash payments from financing activities	044	$-3,800,000$	$-4.200.000$
VI Total cash payments from financing activities (ADP 040 to 044)	045	$-180.824.557$	$-4.200.000$
C) NET CASH FLOW FROM FINANCING ACTIVITIES (ADP 039 +045)	046	$-125.115.410$	14.095.704
1 Unrealised exchange rate differences in respect of cash and cash lequivalents	047		ΩI
D) NET INCREASE OR DECREASE IN CASH FLOWS (ADP 020+034+046+047)	048	1.146.441	$-1.731.734$
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	1.363.199	94.459

EQUIT
z
CHANGES	DAR OF DARIA
	í
STATEMENT OF
	the model from

30.9.2019 g 1.1.2019 for the period from
Į.		mittel (subscribed) Capital meaning
Balance on the first day of the previous business year	249 600 060	10 368 102		615							256 219
585 2 Changes in accounting policies								0.00		0000	$\frac{3}{26}$	0.00
4 Balance on the first day of the previous business year (restated) (ADP 01 to Correction of errors
$\epsilon$ $\overline{8}$	249.600	10,368.107
88 6 Exchange rate differences from translation of foreign operations 5 Profit/cas of the period					0.0		$O$ $O$	$O$ $O$		0.000		š ē
G Changes in revaluation reserves of fixed tangible and intangible assets							ō
Finalli or loss arising from subsequent measurement of financial assets available for
$\bf g$ sale										$\overline{\circ}$
$\mathbf{g}$ 9 Profit or loss arising from effective cash flow hedge
$\overline{\mathbf{r}}$ 10 Profit or loss arising from effective hedge of a net investment in a foreign operativ
$\overline{\tau}$ 11 Share in other comprehensive incorrectoss of companies linked by virtue of participating interests		$\circ$
12 Actuarial gains/losses on the defined benefit obligation		$\circ$
222 14 Tax on transactions recognised directly in equity 13 Other changes in equity unrelated to owners		$\overline{O}$ $\circ$	0.0.0
÷ 15 Increasedercleases in Initial (subscribed) capital (other than thom reinvesting profit and other than arising from the pre-bankruptcy settlement procedure)
$\sharp$ 18 Increase in initial (subscribed) capital arising from the reinvestment of profit
÷ 17 Increase in Initial (subscribed) capital arising from the pre-bankrupicy settle procedure		$\circ$
18 Redemption of treasury shares/toldings		$\circ$ $\circ$											$O$ 10
19 Payment of share in profit/dividend 20 Other distribution to owners
FARAR 21 Tranifer to mean-ve according to the annual schedule. 22 Ionnese in meanwe allring from the pre-bank-upping etherwise procedure 28 Ballance on the liad day of the previous business year reporting period (04 to		000
	249.600.000	10.368.102
IOIX TO THE STATEMENT OF CHANGES IN EQUITY (to be filled in by
$\overline{\bf a}$ I COTHER COMPREHENSIVE INCOME OF THE PREVIOUS PERIOD, NET OF TAX (ADP 05 to 14)
25 II COMPREHENSIVE INCOME OR LOSS FOR THE PREVIOUS PERIOD (ADP $06 + 24$
$\boldsymbol{z}$ III TRANSACTIONS WITH OWNERS IN THE PREVIOUS PERIOD RECOGNISED DIRECTLY IN EQUITY (ADP 15 to 22)
well beatly
1 Balance on the first day of the current business year 2 Changes in accounting policies	242 500 050	10 366 102	g 옾	620.615		000	000		$O$ $O$ $O$		$\frac{8}{3}$ 320.818		9
3 Correction of errors		π								000
552 2 4 Balance on the first day of the current business year (restated) (ADP 27 to 29)	249 600.0	10.368.101
5 Profitfoss of the period
$\overline{n}$ $\overline{n}$ 8 Exchange rate differences from transistion of foreign operations						O 1 O 1
$\ddot{\rm s}$ 7 Changes in revaluation reserves of fixed tangible and intangible assets
z 8 Profit or loss arising from subsequent measurement of financial assets arailable for
iaio
$\mathbbmss{2}$ 9 Profit or loss arising from effective cash flow hedge
g 10 Profit or loss arriving from effective hedge of a net investment in a foreign open		$\overline{a}$
$\overline{\mathbf{a}}$ mprehensive income/loss of companies linked by virtue of 11 Share in other cor
participating interests 12 Actuarial galmifosses on the defined benefit obligation		$\overline{a}$
2295 13 Other changes in equity unrelated to owners		000
14 Tax on transactions recognised directly in equity
15 horrested/decrease in initial (subscribed) capital (other than from remeating profit and other than arising from the pre-bankruptcy settlement procedure).		$\circ$
$\overline{\overline{u}}$ 16 Increase in Initial (subscribed) capital arising from the reinvestment of profit
ş 17 Increase in initial (subscribed) capital arising from the pre-bankruptcy settlement		$\circ$
18 Redemption of treasury shares/holdings procedure
19 Payment of share in profit/dividend		00000				00000					000000
21 Transfer to reserves according to the annual schedule 20 Other distribution to owners
22 Increase in reserves arising from the pre-bankrupicy settlement procedure
26858 8 23 Balance on the last day of the current business year reporting period (ADP 30 to 48)	249 800 09	10,368,101
APPENDIX TO THE STATEMENT OF CHANGES IN EQUITY (to be filled in by 1) I OTHER COMPREHENSIVE INCOME FOR THE CURRENT PERIOD, HET OF
3 TAX
IL COMPREHENSIVE INCOME OR LOSS FOR THE CURRENT PERIOD (ADP 31+50) (ADP 32 to 40)
$\overline{\phi}$
$\mathbf{S2}$ 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.-30.09.2020.

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.