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Zagrebačka burza d.d.
Quarterly Report • Oct 25, 2021
2105_10-q_2021-10-25_07c3027d-23b6-4eb1-a274-988be455a08a.pdf
Quarterly Report
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Zagreb Stock Exchange, Inc.
Unconsolidated unaudited financial results for
1/1/2021 – 30/9/2021
25 October 2021
CONTENTS
| 1 | INTERIM MANAGEMENT REPORT FOR THE PERIOD BETWEEN 1/1/2021 AND 30/9/2021 1 | |
|---|---|---|
| 1.1 | Significant business events of the Zagreb Stock Exchange, Inc. in the period between 1/1/2021 and 30/9/2021 1 |
|
| 1.2 | Zagreb Stock Exchange overview 3 | |
| 1.3 | Expected future development of the Company 5 | |
| 1.4 | Research & Development activities 6 | |
| 1.5 | Information on repurchase of own shares 6 | |
| 1.6 | Subsidiaries of the Company 6 | |
| 1.7 | Financial instruments used by the Company 7 | |
| 1.8 | Company's objectives and policies related to financial risk management 7 | |
| 1.9 | Company's exposure to price risk, credit risk, liquidity risk and cash flow risk 7 | |
| 1.10 | Statement of transactions and transfers between the Company and its subsidiaries and shareholders 7 |
|
| 1.11 | Statement of events which might have an adverse effect on Company operations 7 | |
| 1.12 | Business results for 1/1/2021 – 30/9/2021 8 | |
| 2 | DECLARATION OF RESPONSIBILITY FOR THE PREPARATION OF FINANCIAL STATEMENTS 11 | |
| Unconsolidated unaudited financial statements of the Company for 1/1/2021 – 30/9/2021 12 |
1 INTERIM MANAGEMENT REPORT FOR THE PERIOD BETWEEN 1/1/2021 AND 30/9/2021
1.1 Significant business events of the Zagreb Stock Exchange, Inc. in the period between 1/1/2021 and 30/9/2021
In the first three quarters of 2021, the Zagreb Stock Exchange, Inc. (hereinafter: the Company or the Exchange) recorded the following significant business events:
- On March 2, 2021, the Exchange launched a new project on its YouTube channel called "ZSE Stock Talk" conceived as a new communication channel to the general population on economic and financial topics. The first series of videos had the theme of macroeconomic forecasts for 2021.
- On March 8, 2021, in cooperation with the Croatian Employers' Association, the Exchange organized the event "Ring for Gender Equality" to mark International Women's Day by opening a trade in symbolic bells to emphasize the need to include more women in the world of work and their advancement in the business world.
- On March 16, 2021, the Exchange received from the Securities Commission of the Republic of Northern Macedonia (Komisijata za hartii od vrednost na Republika Severna Makedonija) a decision approving the transfer above the threshold of 10% ownership stake in Makedonska berza AD Skopje, i.e., for the acquisition of shares of the Macedonian Stock Exchange whose total cumulative amount does not exceed 20% of the total issued voting shares.
- On March 24, 2021, the Exchange joined the United Nations Sustainable Stock Exchanges (SSE) initiative to promote sustainability and transparency in capital markets. The Exchange will engage in peer-to-peer dialogue to explore how exchanges can work together with investors, regulators, and companies, to encourage sustainable investment, while also enhancing corporate transparency and performance in respect to environmental, social and corporate governance issues, in line with the SEE initiative goals.
- In the period from 27 to 28 May 2021, the Croatian and Slovenian Investor Days CEE Investment Opportunities were held. For the first time, Slovenian and Croatian companies were joined by companies listed on the Macedonian Stock Exchange. The event was conducted through the GoToWebinar platform, and was attended by about thirty panelists and 120 participants, and in addition to presentations by publishers, presentations of the Croatian, Slovenian and Macedonian capital markets were held.
- On June 11, 2021, the 12th annual education for issuers was held, co-organized by HANFA, the CDCC and the Zagreb Stock Exchange. The education gathered more than a hundred representatives of companies listed on the Zagreb Stock Exchange.
- On June 28, 2021, a new version of the Xetra T7 9.1 trading system was released into production.
- On September 7, 2021, a supervisory audit of the ISO 9001: 2015 quality management system of the Zagreb Stock Exchange was conducted. The supervisory audit was successfully completed and it was concluded that the quality management system of the Exchange is in accordance with the requirements of the ISO 9001: 2015 standard.
- On 9 and 10 September 2021, the investment conference "Prime plus" of the Zagreb Stock Exchange was held at which investors were introduced to all issuers listed on the Leading Market and three issuers listed on the Official Market of the Zagreb Stock Exchange. As part of this conference, the Zagreb Stock Exchange also presented itself as an issuer.
- In the first three quarters of 2021, four bonds (ERSTE & STEIERMARKISCHE BANK d.d., the City of Varaždin, Ministry of Finance of the Republic of Croatia and M SAN Group d.d.), three shares (Villa Dubrovnik d.d., Primo Real Estate d.d. and SPAN d.d.), while companies Modra špilja d.d. and Meritus ulaganja d.d. carried out an increase in share capital.
- In the period from 1 October 2020 to 30 September 2021, three bonds (JADRAN GALENSKI LABORATORIJ d.d., ATLANTIC GRUPA d.d. and Ministry of Finance of the Republic of Croatia) and twelve shares (TERRA MEDITERRANEA d.d., HOTELI VODICE d.d., DTR d.d., HOTELI MAESTRAL d.d., ISTRA d.d., KARLOVAČKA BANKA d.d. - ordinary and preferred share, PIK d.d., DUKAT d.d., Privredna banka Zagreb d.d., Hoteli Živogošće d.d. and Hoteli Jadran d.d.) were delisted.
1.2 Zagreb Stock Exchange overview
In the first three quarters of 2021, the orderbook turnover amounted to HRK 1,424 million, which is significantly less (-33%) than in the first three quarters of last year, which was marked by increased securities turnover from the end of February until the beginning of May under the influence of the Covid-19 outbreak in the Republic of Croatia. Of this amount of turnover in the first nine months of 2021, HRK 1,269 million relates to shares, HRK 117 million to bonds, while ETFs, which began trading in mid-November last year, in the first three quarters of 2021 generated a turnover of almost HRK 38 million. In the same period, the equity block turnover amounted to slightly over HRK 369 million (1 - 3Q 2020: HRK 337 million), while the debt block turnover was absent. If we compare the third with the first and the second quarter of the current year, a continuous increase in orderbook turnover is visible (1Q: HRK 455 million, 2Q: HRK 474 million, 3Q: HRK 495 million), while the biggest equity block turnover was achieved in the second quarter (1Q: HRK 80 million, 2Q: HRK 212 million, 3Q: HRK 78 million).
Securities turnover
Compared to September 30, 2020, the market value measured by market capitalization as of September 30, 2021, is higher by HRK +7.5 billion or +3%, while the equity market capitalization alone is higher by HRK +5 billion or +4%. These data point to a constant market recovery since May last year when the initial market shock caused by the emergence of the Covid-19 virus, which contributed to a large drop in market capitalization in the first quarter of 2020, began to weaken.
Equity Market Capitalization and number of stocks listed
Compared to the same day in 2020, on September 30, 2021, a total of seven shares were listed less on the Regular Market and one share more on the Prime Market, while the number of shares listed on the Official Market remained unchanged.
| 1-3Q 2020 | 1-3Q 2021 | change | |
|---|---|---|---|
| Securities turnover (HRK) | |||
| Orderbook turnover | 2.065.253.161 | 1.423.870.593 | -31,06% |
| Stocks | 1.897.517.253 | 1.269.205.161 | -33,11% |
| Bonds | 167.735.908 | 116.666.677 | -30,45% |
| ETFs | 0 | 37.998.754 | |
| Equity Block Turnover | 337.298.535 | 369.237.452 | 9,47% |
| Debt Block Turnover | 0 | 0 | |
| TOTAL | 2.402.551.696 | 1.793.108.045 | -25,37% |
| Market Capitalization (HRK) | |||
| Stocks | 130.706.820.516 | 135.912.760.343 | 3,98% |
| Prime market | 12.148.433.961 | 31.066.430.348 | 155,72% |
| Official market | 56.564.718.242 | 47.524.434.605 | -15,98% |
| Regular market | 61.993.668.313 | 57.321.895.391 | -7,54% |
| Bonds | 133.639.269.975 | 135.994.721.823 | 1,76% |
| ETFs | 0 | 58.339.269 | |
| TOTAL | 264.346.090.491 | 271.965.821.434 | 2,88% |
| Number of securities listed | |||
| Stocks | 106 | 100 | -5,66% |
| Prime market | 5 | 6 | 20,00% |
| Official market | 23 | 23 | 0,00% |
| Regular market | 78 | 71 | -8,97% |
| Bonds | 26 | 29 | 11,54% |
| ETFs | 0 | 2 | |
| TOTAL | 135 | 130 | -3,70% |
Zagreb Stock Exchange overview
A comparison of the data for the first three quarters of 2021 with the data for the same period last year shows a stable and positive trend among the indices as well. After a sharp decline in the index's values since the end of February 2020, the index's values began to normalize and continued to grow continuously from May last year. With the exception of CROBEXkonstrukt, which weakened -40.69%, equity indices generally rose in double digits compared to the closing value on September 30, 2020; CROBEXindustrija increased the most (+29.9%). The ADRIAprime regional index increased by +36.65%, while the bond index CROBIStr rose by +2%, and CROBIS fell by -0.41%.
| Index | 30.9.2020 | 30.9.2021 | Change | Turnover (HRK) 3Q 2020 |
Turnover (HRK) 3Q 2021 |
Change |
|---|---|---|---|---|---|---|
| CROBEX | 1.608,54 | 1.999,24 | 24,29% | 301.004.391 | 353.625.708 | 17,48% |
| CROBEXtr | 1.087,33 | 1.385,53 | 27,42% | 301.004.391 | 353.625.708 | 17,48% |
| CROBEX10 | 1.001,75 | 1.228,54 | 22,64% | 222.767.221 | 289.721.113 | 30,06% |
| CROBEX10tr | 999,19 | 1.258,73 | \ | 204.534.868 | 289.721.113 | \ |
| CROBEXprime | 940,47 | 1.209,18 | 28,57% | 99.551.345 | 208.219.073 | 109,16% |
| CROBEXplus | 1.051,78 | 1.212,12 | 15,24% | 318.174.774 | 357.835.573 | 12,47% |
| CROBEXindustrija | 876,88 | 1.139,06 | 29,90% | 60.242.631 | 60.109.059 | -0,22% |
| CROBEXkonstrukt | 737,36 | 437,33 | -40,69% | 41.928.860 | 5.857.694 | -86,03% |
| CROBEXnutris | 628,54 | 756,23 | 20,32% | 52.756.421 | 107.468.757 | 103,71% |
| CROBEXtransport | \ | 881,34 | \ | \ | 44.060.364 | \ |
| CROBEXturist | 2.926,09 | 3.527,80 | 20,56% | 45.897.593 | 48.585.814 | 5,86% |
| CROBIS | 112,27 | 111,81 | -0,41% | 1.506.640.908 | 1.363.004.915 | -9,53% |
| CROBIStr | 185,57 | 189,33 | 2,03% | 1.506.640.908 | 1.363.004.915 | -9,53% |
| ADRISprime | 985,94 | 1.347,29 | 36,65% | \ | \ | \ |
Indices – value and turnover (3Q 2020 vs. 3Q 2021)
1.3 Expected future development of the Company
In 2021, the Company will continue to focus on restoring confidence and raising Corporate Governance standards and reporting on a regulated market. The Company will also focus on greater promotion of existing issuers, with a focus on Prime Market. The Company will continue internally to develop IT services that will be used by the Zagreb and Ljubljana Stock Exchanges, and thus further reduce the need for external suppliers.
The Company will press on with previously initiated projects, placing the greatest emphasis on the project of regional SME capital market development (Progress), and further activities related to financing and investing in start-ups (Funderbeam SEE).
1.4 Research & Development activities
The Company has pressed on with continuous efforts at developing and improving its own service offering and at expanding service provision to the Slovenian market as well.
During the second half of 2019, the Company began migrating the Ljubljana Stock Exchange's downstream system to the Company's internally developed data warehouse system. Work on the full implementation of this system has also been carried over to the first part of 2020.
During 2020, the Exchange also developed and launched a completely new website of the Zagreb and Ljubljana Stock Exchanges.
1.5 Information on repurchase of own shares
As of September 30, 2021, the Company held no own shares.
The Company did not acquire own shares between 1 January 2021 and 30 September 2021.
1.6 Subsidiaries of the Company
The Ljubljana Stock Exchange, Inc., a company domiciled in Ljubljana. The issued share capital of the Ljubljana Stock Exchange is EUR 1,401,000, in which the Zagreb Stock Exchange, Inc. participates with 100 %.
SEE Link d.o.o., a company domiciled in Skopje. The issued share capital of SEE LINK is EUR 80,000, in which the Zagreb Stock Exchange, Inc. participates with 33.33%.
Funderbeam South East Europe d.o.o., a company domiciled in Zagreb. The issued share capital of Funderbeam South East Europe d.o.o. is HRK 244,000, and the share of the Zagreb Stock Exchange, Inc. in the share capital is 30%.
On December 18, 2019, the Zagreb Stock Exchange acquired 148 shares, or 5.3% of the Macedonian Stock Exchange's share capital.
1.7 Financial instruments used by the Company
The Company is fully funded by its own capital. The financial instruments the Company invests in are investment funds (money market and bond funds) and bank deposits.
1.8 Company's objectives and policies related to financial risk management
All employees of the Company, including its Management and Supervisory Board, are involved in the implementation of internal control and risk management systems.
The Company manages risks, including financial risks, particularly through two mutually independent control functions: monitoring of compliance with relevant regulations and internal audit function.
These control functions process and monitor the work of all organizational units, Company activities and support services.
1.9 Company's exposure to price risk, credit risk, liquidity risk and cash flow risk
The Company invests free funds in open-end money market and bond investment funds, as well as bank deposits. Its investments are carried at fair value. The Company mitigates the price risk by diversifying its portfolio of open-end investment funds it by investing in different types of funds managed by different fund management companies, and by investing in low-risk funds.
The Company has no loans received, rather its cash and financial assets exceed substantially the liabilities of the Company, and consequently, the Company's liquidity position is satisfactory.
1.10 Statement of transactions and transfers between the Company and its subsidiaries and shareholders
The Company confirms that in 2021 there were no transactions between the Company and its subsidiaries and shareholders in excess of EUR 100,000.
1.11 Statement of events which might have an adverse effect on Company operations
In 2021, uncertainty continued over the prevention measures taken to halt the spread and suppression of the COVID-19 pandemic. It is not possible to estimate the future duration of the pandemic, but the Company is actively monitoring the situation and will take all necessary measures to minimize potential negative impacts in the event of a worsening situation. With its infrastructure and working procedures, the Company is fully trained and ready to ensure business continuity so that trading can run smoothly. Infrastructure and work processes are adapted to work in crisis situations, employees are on standby, and tests related to working in such circumstances have been successfully conducted, thus ensuring continuous trading in securities throughout the trading day, without difficulties even in emergencies.
The long-term effect can also affect the company's operations in terms of difficult operations of our clients - issuers, as well as reducing the volume of trade due to possible uncertainties of investors related to the impact of the crisis on the Croatian economy. Despite the aforementioned, at the date of issue of these financial statements, the Company continues to settle due to liabilities and, consequently, prepares financial statements under the assumption of indefinite operation.
Apart from the above, no other business events or transactions have occurred after the balance sheet date that would have a material impact on the financial statements on or for the period then ended or are of such significance to the Company's operations as to require disclosure in management.
1.12 Business results for 1/1/2021 – 30/9/2021
In the first three quarters of 2021, the Company generated a total of HRK 10,163 thousand of operating revenues, which is HRK -532 thousand or -5% less than in the same period last year when they amounted to HRK 10,695 thousand. Compared to the first three quarters of 2020, sales revenues fell from HRK 7.630 to HRK 7,088 thousand (HRK -542 thousand or -7.1%). The significant decline in sales revenue is primarily the result of a decrease in commissions and membership fees, which, following the decline in turnover compared to the significantly increased turnover in securities from the end of February to mid-April 2020, in the first three quarters of this year reached HRK 2,571 thousand (HRK - 641 thousand or -20% less compared to the first three quarters of 2020 when they amounted to HRK 3,212 thousand). However, it should be noted that in the third quarter alone, commissions and membership fees increased by HRK +157 thousand or +23.45% compared to the same period last year (3Q 2020: HRK 3,212 thousand). In addition to a slightly smaller number of newly listed securities than in the same period last year, income from quotation maintenance amounts to HRK 713 thousand, which is HRK -143 thousand or -16.7% less than in the same period last year. Within sales revenues, only listing maintenance fees increased to HRK 3,803 thousand (an increase of HRK +241 thousand or +6.8% compared to the same period last year when they amounted to HRK 3,562 thousand). Compared to the first three quarters of 2020, other operating income increased by HRK +10 thousand or +0.3%, i.e., from HRK 3,065 to HRK 3,075 thousand. This increase in other operating revenues is a consequence of the growth of income from the supply of information (HRK +32 thousand or +1.8%) amounting to HRK 1,822 thousand, while other income, which includes revenues from education and revenues from the issuance and maintenance of LEI, fell by HRK -22 thousand or -1.7% and amount to still significant HRK 1,253 thousand.
At the beginning of the coronavirus pandemic, i.e., in the first quarter of 2020, the Company began to record a decline in operating expenses primarily due to a changed working mode (working from home, the lack of business trips, live events, etc.). In the first three quarters of 2021, the Company's total operating expenses increased by HRK +302 thousand (+3.14%) in comparison with the same period last year and amounted to HRK 9,924 thousand (first three quarters of 2020: HRK 9,662 thousand). Items of operating expenses which in the first three quarters of 2021 recorded a decrease compared to the same period last year are value adjustments of fixed and current assets amounting to HRK 42 thousand (HRK -49 thousand or -53.8%), staff costs amounting to HRK 5,088 thousand (HRK -37 thousand or -0.7%), and other operating expenses amounting to HRK 3 thousand (HRK -27 thousand or -88.5%), while material costs amounting to HRK 2,823 thousand (HRK +402 thousand or +16.6%), depreciation amounting to HRK 854 thousand (HRK +9 thousand or +1.1 %), and other costs amounting to HRK 1,114 thousand (HRK +4 thousand or +0.36%) increased.
| HRK | 1-3Q 2020 | 1-3Q 2021 | change | 3Q 2020 | 3Q 2021 | change |
|---|---|---|---|---|---|---|
| Number of shares | 4.635.700 | 4.635.700 | 0,00% | 4.635.700 | 4.635.700 | 0,00% |
| Share capital | 46.357.000 | 46.357.000 | 0,00% | 46.357.000 | 46.357.000 | 0,00% |
| Capital and reserves | 41.932.716 | 43.309.137 | 3,28% | 41.932.716 | 43.309.137 | 3,28% |
| Total assets | 47.386.901 | 51.120.536 | 7,88% | 47.386.901 | 51.120.536 | 7,88% |
| Operating income | 10.695.151 | 10.163.409 | -4,97% | 3.239.522 | 3.235.245 | -0,13% |
| sales revenue | 7.629.891 | 7.088.054 | -7,10% | 2.265.469 | 2.319.266 | 2,37% |
| other operating income | 3.065.260 | 3.075.355 | 0,33% | 974.053 | 915.979 | -5,96% |
| Operating expenses | 9.621.861 | 9.924.337 | 3,14% | 2.980.315 | 3.262.328 | 9,46% |
| material costs | 2.421.066 | 2.823.164 | 16,61% | 711.011 | 1.047.072 | 47,27% |
| staff costs | 5.125.088 | 5.087.936 | -0,72% | 1.608.829 | 1.585.814 | -1,43% |
| depreciation and amortization |
844.534 | 853.814 | 1,10% | 278.775 | 301.850 | 8,28% |
| other costs | 1.231.173 | 1.159.423 | -5,83% | 381.700 | 327.592 | -14,18% |
| EBIT | 1.073.290 | 239.072 | -77,73% | 259.207 | -27.083 | -110,45% |
| EBITDA | 1.917.824 | 1.092.886 | -43,01% | 537.982 | 274.767 | -48,93% |
| Financial income | 564.593 | 995.568 | 76,33% | 453.405 | 37.919 | -91,64% |
| Financial expenses | 285.041 | 379.779 | 33,24% | -239.142 | 121.589 | -150,84% |
| Pre-tax profit or loss | 1.352.842 | 854.861 | -36,81% | 951.754 | -110.753 | -111,64% |
| Income tax | 0 | 0 | 0 | 0 | ||
| Profit or loss for the period |
1.352.842 | 854.861 | -36,81% | 951.754 | -110.753 | -111,64% |
| Number of employees | 24 | 26 | 8,33% | 24 | 26 | 8,33% |
The Company's key business indicators
The Company's operating profit in the first three quarters of 2021 amounted to HRK 239 thousand, while in the same period last year it amounted to HRK 1,073 thousand. At the third-quarter level, the Company recorded an operating loss in the amount of HRK -27 thousand, while an operating profit in the same period last year amounted to HRK 259 thousand. Financial revenues recorded a significant increase at the level of the first three quarters, while at the level of the third quarter they decreased compared to the same period last year. In the first three quarters of this year, financial revenues amounted to HRK 996 thousand (HRK +431 thousand or +76.33%), while in the third quarter alone financial revenues amounted to HRK 121 thousand (HRK +-415 thousand or -91.64%). In the first three quarters of this year, financial expenses amounted to HRK 380 thousand (HRK +95 thousand or 33.24%), while in the third quarter alone they were higher by HRK +361 thousand and amounted to HRK -239 thousand (in 3Q 2020, due to the reduction of unrealized losses on financial assets, financial expenses were in the positive amount of HRK 239 thousand). Changes in the movement of financial income and expenses are primarily the result of the received dividend of the Ljubljana Stock Exchange in the amount of HRK 958 thousand and the yield of bond funds in which the Company has invested free funds.
Given the above, the Company's net profit in the first three quarters of 2021 amounted to HRK 855 thousand, which is HRK -498 thousand (-36.8%) less than in the first three quarters of 2020 when the Company's net profit amounted to HRK 1,353 thousand. In the third quarter of 2021, the Company's net loss amounted to HRK -111 thousand, which is HRK -1,063 thousand less than the HRK 952 thousand net profit of the same period last year.
Operating profit before interest, taxes, depreciation and amortization is positive and in the first three quarters of 2021 amounts to HRK 1,093 thousand, i.e., HRK -825 thousand less than in the first nine months of 2020, while in the third quarter of 2021 it amounts to HRK 275 thousand, i.e., HRK -263 thousand less than in the same period last year.
2 DECLARATION OF RESPONSIBILITY FOR THE PREPARATION OF FINANCIAL STATEMENTS
Financial statements of the Zagreb Stock Exchange, Inc. prepared for the period between 1/1/2021 and 30/9/2021 give a fair and true account of facts in accordance with the International Standards of Financial Reporting and the Croatian Accounting Act.
Unconsolidated financial statements for the period between 1/1/2021 and 30/9/2021 give an objective, complete and true statement of assets and liabilities, financial position and operations of the Company.
The management report for the first three quarters of 2021 contains a true and fair view of the development and results of operations, with a description of the principal risks and uncertainties to which the Company is exposed.
Unconsolidated financial statements for the first three quarters of 2021 have not been audited.
Contact Zagreb Stock Exchange, Inc. Ivana Lučića 2a/22 10000 Zagreb Croatia
Phone number: +385/ 1 4686 806 E-mail: [email protected]
Unconsolidated unaudited financial statements of the Company for 1/1/2021 – 30/9/2021
| ISSUER'S GENERAL DATA | |||||
|---|---|---|---|---|---|
| Reporting period: | 1.1.2021 | to | 30.9.2021 | ||
| Year: | 2021 | ||||
| Quarter: | 3 | ||||
| Quarterly financial statements | |||||
| Registration number (MB): | 03749606 | Issuer's home Member State code: |
HR | ||
| Entity's registration number (MBS): |
080034217 | ||||
| Personal identification number (OIB): |
84368186611 | LEI: | 7478000050A040C0D041 | ||
| Institution code: |
4 | ||||
| Name of the issuer: Zagreb Stock Exchange, Inc | |||||
| Postcode and town: | 10000 | Zagreb | |||
| Street and house number: Ivana Lučića 2a/22 | |||||
| E-mail address: [email protected] | |||||
| Web address: www.zse.hr | |||||
| Number of employees (end of the reporting |
2 6 | ||||
| Consolidated report: | KN | (KN-not consolidated/KD-consolidated) | KN | KD | |
| Audited: | RN | (RN-not audited/RD-audited) | RN | RD | |
| Names of subsidiaries (according to IFRS): | Registered office: | MB: | |||
| Ljubljanska borza vrednostnih papirjev d.d. | Ljubljana, Slovenija | 5316081 | |||
| BALANCE SHEET | |||||||
|---|---|---|---|---|---|---|---|
| balance as at 30.9.2021 | |||||||
| in HRK | |||||||
| Submitter: Zagreb Stock Exchange, Inc Item |
ADP code |
Last day of the preceding business year |
At the reporting date of the current period |
||||
| 1 | 2 | 3 | 4 | ||||
| ASSETS | |||||||
| FIXED ASSETS 002+003+009+012 | 1 | 23.205.524 | 26.413.347 | ||||
| I INTANGIBLE ASSETS | 2 | 971.458 | 906.925 | ||||
| II TANGIBLE ASSETS 004+…+008 | 3 | 1.064.272 | 4.336.628 | ||||
| 1 Land and buildings | 4 5 |
220.158 674.695 |
3.009.099 798.594 |
||||
| 2 Computer equipment 3 Other tangible assets |
6 | 6.249 | 181.314 | ||||
| 4 Leasehold improvements | 7 | 163.170 | 347.621 | ||||
| 5 Assets under construction | 8 | 0 | 0 | ||||
| III FIXED FINANCIAL ASSETS 010+011 | 9 | 21.169.794 | 21.169.794 | ||||
| 1 Investments in associates, subsidiaries and joint ventures | 10 | 19.400.367 | 19.400.367 | ||||
| 2 Financial assets at amortised cost | 11 | 1.769.427 | 1.769.427 | ||||
| DEFERRED TAX ASSETS | 12 | 0 | 0 | ||||
| B CURRENT ASSETS 014+020+024 | 13 | 24.644.001 | 24.266.733 | ||||
| I RECEIVABLES 015++019 | 14 | 2.731.637 | 1.680.555 | ||||
| 1 Trade receivables | 15 | 1.967.444 | 996.695 | ||||
| 2 Receivables from employees and members of the undertaking | 16 | 622 | 759 | ||||
| 3 Receivables from government and other institutions | 17 | 4.767 | 21.425 | ||||
| 4 Receivables from connected undertakings | 18 | 199.668 | 18.365 | ||||
| 5 Other receivables | 19 | 559.136 | 643.311 | ||||
| III SHORT-TERM FINANCIAL ASSETS 021+…+023 1 Financial assets at amortised cost |
20 21 |
20.274.296 2.500.031 |
19.065.681 2.500.130 |
||||
| 2 Financial assets at fair value through other comprehensive | 22 | 0 | 0 | ||||
| 3 Financial assets at fair value through statement of profit or | 23 | 17.774.265 | 16.565.551 | ||||
| III CASH AND CASH EQUIVALENTS | 24 | 1.638.068 | 3.520.497 | ||||
| C PREPAID EXPENSES AND ACCRUED INCOME | 25 | 86.414 | 440.456 | ||||
| D TOTAL ASSETS 001+013+025 E OFF-BALANCE SHEET ITEMS |
26 27 |
47.935.939 0 |
51.120.536 0 |
||||
| LIABILITIES | |||||||
| A CAPITAL AND RESERVES 029+030+031+036+037+038 | 28 | 42.454.276 | 43.309.137 | ||||
| I INITIAL CAPITAL | 29 | 46.357.000 | 46.357.000 | ||||
| II CAPITAL RESERVES | 30 | 13.860.181 | 13.860.181 | ||||
| III PROFIT RESERVES 032++035 | 31 | 141.000 | 141.000 | ||||
| 1 Legal reserves | 32 | 141.000 | 141.000 | ||||
| 2 Reserves for treasury shares | 33 | 0 | 0 | ||||
| 3 Fair value reserves | 34 | 0 | 0 | ||||
| 4 Other reserves | 35 | 0 | 0 | ||||
| IV RETAINED PROFIT OR LOSS BROUGHT FORWARD | 36 | -19.778.307 | -17.903.905 | ||||
| V PROFIT OR LOSS FOR THE YEAR | 37 | 1.874.402 | 854.861 | ||||
| VI MINORITY INTEREST | 38 | 0 | 0 | ||||
| B PROVISIONS C SHORT-TERM LIABILITIES 041+046 |
39 | 0 | 0 | ||||
| 40 41 |
1.914.309 261.293 |
1.993.210 0 |
|||||
| 1 Liabilities for advance payments 2 Trade payables |
42 | 440.361 | 208.813 | ||||
| 3 Liabilities to employees | 43 | 305.042 | 323.934 | ||||
| 4 Taxes, contributions and similar liabilities | 44 | 261.991 | 230.871 | ||||
| 5 Liabilities to connected undertakings | 45 | 2.638 | 0 | ||||
| 6 Other short-term liabilities | 46 | 642.984 | 1.229.592 | ||||
| D LONG-TERM LIABILITIES | 47 | 32.667 | 2.208.147 | ||||
| E DEFERRED TAX LIABILITY | 48 | 0 | 0 | ||||
| F ACCRUALS AND DEFERRED INCOME | 49 | 3.534.687 | 3.610.042 | ||||
| G TOTAL LIABILITIES 028+039+040+047+048+049 | 50 | 47.935.939 | 51.120.536 | ||||
| H OFF-BALANCE SHEET ITEMS | 51 | 0 | 0 | ||||
| Appendix to the balance sheet (position for consolidated financial statements) | |||||||
| I Capital and reserves 053+054 | 52 | 0 | 0 | ||||
| 1 Attributable to owners of the parent | 53 | 0 | 0 |
2 Attributable to non-controlling interest
54 0 0
| For the period 1.1.2021 to 30.9.2021 | in HRK | |||||
|---|---|---|---|---|---|---|
| Submitter: Zagreb Stock Exchange, Inc | ADP code |
Same period of the previous year | Current period | |||
| Item | Cumulative | Quarter | Cumulative Quarter |
|||
| 1 | 2 | 3 | 4 | 5 | 6 | |
| A OPERATING INCOME 002+009 | 1 | 10.695.151 | 3.239.522 | 10.163.409 | 3.235.245 | |
| I Sales revenue 003++008 | 2 | 7.629.891 | 2.265.469 | 7.088.054 | 2.319.266 | |
| 1 Commissions and membership fees | 3 | 3.212.341 | 669.324 | 2.571.324 | 826.276 | |
| 2 Listing maintenance fees | 4 | 3.561.770 | 1.269.718 | 3.803.557 | 1.262.495 | |
| 3 Income from quotation maintenance | 5 | 855.780 | 326.427 | 713.173 | 230.495 | |
| 4 Income from auctions | 6 | 0 | 0 | 0 | 0 | |
| 5 Income from memberships | 7 | 0 | 0 | 0 | 0 | |
| 6 Revenue from assigning and administering LEIs | 8 | 0 | 0 | 0 | 0 | |
| II Other operating income 010++012 | 9 | 3.065.260 | 974.053 | 3.075.355 | 915.979 | |
| 1 Income from application programming interface (API) services | 10 | 0 | 0 | 0 | 0 | |
| 2 Income from the supply of information | 11 | 1.790.257 | 607.118 | 1.822.434 | 526.356 | |
| 3 Other income | 12 | 1.275.003 | 366.935 | 1.252.921 | 389.623 | |
| B OPERATING EXPENSES 014+017+021+022+023+026+027 | 13 | 9.621.861 | 2.980.315 | 9.924.337 | 3.262.328 | |
| I Material costs 015+016 | 14 | 2.421.066 | 711.011 | 2.823.164 | 1.047.072 | |
| 1 Costs of raw materials | 15 | 394.061 | 111.226 | 329.229 | 119.255 | |
| 2 Other external costs | 16 | 2.027.005 | 599.785 | 2.493.935 | 927.817 | |
| II Staff costs 018++020 | 17 | 5.125.088 | 1.608.829 | 5.087.936 | 1.585.814 | |
| 1 Net salaries and wages | 18 | 2.835.038 | 895.672 | 2.909.283 | 914.897 | |
| 2 Tax and contributions from salary costs | 19 | 1.607.047 | 498.795 | 1.484.940 | 455.282 | |
| 3 Payroll contributions | 20 | 683.003 | 214.362 | 693.713 | 215.635 | |
| III Depreciation | 21 | 844.534 | 278.775 | 853.814 | 301.850 | |
| IV Other costs | 22 | 1.110.050 | 380.888 | 1.114.056 | 329.198 | |
| V Value adjustment 024+025 | 23 | 90.631 | 0 | 41.873 | 0 | |
| 1 fixed assets (other than financial assets) | 24 | 0 | 0 | 0 | 0 | |
| 2 current assets (other than financial assets) | 25 | 90.631 | 0 | 41.873 | 0 | |
| VI Provisions | 26 | 0 | 0 | 0 | 0 | |
| VII Other operating expenses | 27 | 30.492 | 812 | 3.494 | -1.606 | |
| C FINANCIAL INCOME 029++034 | 28 | 564.593 | 453.405 | 995.568 | 37.919 | |
| 1 Interest, exchange rate differences, dividends and similar | 29 | 357.213 | 356.602 | 958.709 | 1.396 | |
| 2 Interest, exchange rate differences, dividends and similar | 30 | 77.884 | 67.023 | 28.285 | 33.233 | |
| 3 Income share from associates and participating interests | 31 | 0 | 0 | 0 | 0 | |
| 4 Unrealised gains (income) from financial assets | 32 | 21.829 | 21.829 | 0 | 0 | |
| 5 Profit from reversal of provisions for impairment for expected | 33 | 0 | 0 | 0 | 0 | |
| 6 Other financial income | 34 | 107.667 | 7.951 | 8.574 | 3.290 | |
| D FINANCIAL EXPENSES 036++040 | 35 | 285.041 | -239.142 | 379.779 | 121.589 | |
| 1 Interest, exchange rate differences and other expenditures with | 36 | 518 | 370 | 164 | 17 | |
| 2 Interest, exchange rate differences and other expenditure from | 37 | 52.378 | 9.327 | 39.873 | 39.873 | |
| 3 Unrealised losses (expenses) from financial assets | 38 | 0 | -267.670 | 339.742 | 80.862 | |
| 4 Loss on impairment for expected credit losses | 39 | 0 | 0 | 0 | 0 | |
| 5 Other financial expenses | 40 | 232.145 | 18.831 | 0 | 837 | |
| E TOTAL INCOME 001+028 | 41 | 11.259.744 | 3.692.927 | 11.158.977 | 3.273.164 | |
| F TOTAL EXPENDITURE 013+035 | 42 | 9.906.902 | 2.741.173 | 10.304.116 | 3.383.917 | |
| G Share in profit/loss of associates and subsidiaries | 43 | 0 | 0 | 0 | 0 | |
| H PRE-TAX PROFIT OR LOSS 041-042+043 | 44 | 1.352.842 | 951.754 | 854.861 | -110.753 | |
| I INCOME TAX | 45 | 0 | 0 | 0 | 0 | |
| J PROFIT OR LOSS FOR THE PERIOD 044-045 | 46 | 1.352.842 | 951.754 | 854.861 | -110.753 | |
| 1 Change in revaluation reserves (property, plant, | 47 | 0 | 0 | 0 | 0 | |
| 2 Actuarial gains/losses on defined benefit pension plans | 48 | 0 | 0 | 0 | 0 | |
| 3 Unrealised gains/losses on financial assets at fair value | ||||||
| through other comprehensive income | 49 | 0 | 0 | 0 | 0 | |
| 4 Gains/losses on hedging instruments in a cash flow hedge | 50 | 0 | 0 | 0 | 0 | |
| 5 Gains/losses arising from translation of financial | 51 | 0 | 0 | 0 | 0 | |
| 6 Income tax on other comprehensive income | 52 | 0 | 0 | 0 | 0 | |
| K OTHER COMPREHENSIVE INCOME 047+…+052 | 53 | 0 | 0 | 0 | 0 | |
| TOTAL COMPREHENSIVE INCOME 046+053 | 54 | 1.352.842 | 951.754 | 854.861 | -110.753 | |
| M RECLASSIFICATION ADJUSTMENTS | 55 | 0 | 0 | 0 | 0 | |
| Appendix ** | 56 | 0 | 0 | 0 | 0 | |
| Attributable to owners of the parent | 57 | 0 | 0 | 0 | 0 | |
| Attributable to non-controlling interest |
STATEMENT OF PROFIT OR LOSS
15
STATEMENT OF CASH FLOWS - indirect method
for the period 1.1.2021 to 30.9.2021
| in HRK | ||||||||
|---|---|---|---|---|---|---|---|---|
| Submitter: Zagreb Stock Exchange, Inc | ||||||||
| Item | ADP code |
Same period of the previous year |
Current period | |||||
| 1 | 2 | 3 | 4 | |||||
| CASH FLOW FROM OPERATING ACTIVITIES | ||||||||
| 1 Pre-tax profit | 1 | 1.352.842 | 854.861 | |||||
| 2 Depreciation | 2 | 844.534 | 853.814 | |||||
| 3 Increase in short-term liabilities | 3 | 0 | 673.423 | |||||
| 4 Decrease in short-term receivables | 4 | 594.341 | 292.814 | |||||
| 5 Decrease in inventories | 5 | 0 | 0 | |||||
| 6 Loss on impairment for expected credit losses | 6 | 0 | 0 | |||||
| 7 Other cash flow increase | 7 | 173.036 | 575.697 | |||||
| I Total cash flow increase from operating activities 001++007 |
8 | 2.964.753 | 3.250.609 | |||||
| 1 Decrease in short-term liabilities | 9 | 753.713 | 0 | |||||
| 2 Increase in short-term receivables | 10 | 0 | 0 | |||||
| 3 Increase in inventories | 11 | 0 | 0 | |||||
| 4 Profit from reversal of provisions for impairment for expected | 12 | 0 | 0 | |||||
| 5 Other cash flow decrease | 13 | 0 | 0 | |||||
| II Total cash flow decrease from operating activities | ||||||||
| 009++013 | 14 | 753.713 | 0 | |||||
| CASH FLOW FROM INVESTMENT ACTIVITIES | ||||||||
| 1 Cash receipts from sale of fixed tangible and intangible assets | 15 | 0 | 0 | |||||
| 2 Cash receipts the from sale of equity instruments and debt | 16 | 82.302 | 0 | |||||
| 3 Interest received | 17 | 0 | 0 | |||||
| 4 Dividends received | 18 | 410.642 | 9.986 | |||||
| 5 Other cash receipts from investment activities | 19 | 2.342.462 | 507.982 | |||||
| III Total cash receipts from investment activities 015++019 | 20 | 2.835.406 | 517.968 | |||||
| 1 Cash payments for the purchase of fixed tangible and intangible | 21 | 758.382 | 763.315 | |||||
| 2 Cash payments for the acquisition of equity financial | 22 | 0 | 0 | |||||
| 3 Other cash payments from investment activities | 23 | 3.000.000 | 0 | |||||
| IV Total cash payments from investment activities 021++023 |
24 | 3.758.382 | 763.315 | |||||
| CASH FLOW FROM FINANCING ACTIVITIES | ||||||||
| 1 Cash receipts from the issue of equity financial instruments and debt financial instruments |
25 | 0 | 0 | |||||
| 2 Cash receipts from credit principals, debentures, loans and other borrowings |
26 | 0 | 0 | |||||
| 3 Other cash receipts from financing activities | 27 | 0 | 0 | |||||
| V Total cash receipts from financing activities 025++027 | 28 | 0 | 0 | |||||
| 1 Cash payments for credit principals and bonds | 29 | 0 | 0 | |||||
| 2 Cash payments for dividends | 30 | 0 | 0 | |||||
| 3 Cash payments for finance lease | 31 | 0 | 0 | |||||
| 4 Cash payments for the redemption of treasury shares | 32 | 0 | 0 | |||||
| 5 Other cash payments from financing activities | 33 | 236.172 | 1.122.835 | |||||
| VI Total cash payments from operating activities 029++033 | 34 | 236.172 | 1.122.835 | |||||
| VII Cash and cash equivalents at the beginning of period | 35 | 318.428 | 1.638.068 | |||||
| VIII Increase of cash and cash equivalents | 36 | 1.051.892 | 1.882.427 | |||||
| IX Decrease of cash and cash equivalents | 37 | 0 | 0 | |||||
| X Cash and cash equivalents at the end of period | 38 | 1.370.320 | 3.520.495 |
| STATEMENT OF CHANGES IN EQUITY |
||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| for the period from | 1.1.2021 | to | 30.9.2021 | in HRK | ||||||
| Attributable to owners of the parent |
||||||||||
| Item | ADP | Subscribed capital |
Capital reserves |
Profit reserves |
Profit or loss for the year (period) |
Retained profit or loss brought forward |
Fair value reserves |
Other revaluation reserves |
Attributable to non-controlling interests |
Total capital and reserves |
| 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 |
| Balance on the first day of the previous business year |
1 | 46.357.000 | 13.860.181 | 141.000 | 1.193.751 | -20.972.058 | 0 | 0 | 0 | 40.579.874 |
| Change in accounting policies |
2 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Correction of errors from prior periods |
3 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Balance on the first day of the previous year (restated) business |
4 | 46.357.000 | 13.860.181 | 141.000 | 1.193.751 | -20.972.058 | 0 | 0 | 0 | 40.579.874 |
| Profit or loss for the period |
5 | 0 | 0 | 0 | 1.874.402 | 0 | 0 | 0 | 0 | 1.874.402 |
| on financial Unrealised gains or losses assets at fair value through other comprehensive income |
6 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other changes in equity unrelated to owners |
7 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total directly recognized income and |
||||||||||
| expenses of the previous year (previous year periods) |
8 | 0 | 0 | 0 | 1.874.402 | 0 | 0 | 0 | 0 | 1.874.402 |
| Increase/decrease in subscribed capital |
9 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other contributions by owners |
10 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Payment of share in profit/dividend |
11 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other distribution to owners |
12 | 0 | 0 | 0 | -1.193.751 | 1.193.751 | 0 | 0 | 0 | 0 |
| Balance on the last day of the previous business year reporting period |
13 | 46.357.000 | 13.860.181 | 141.000 | 1.874.402 | -19.778.307 | 0 | 0 | 0 | 42.454.276 |
| Balance on the first day of the current business year |
14 | 46.357.000 | 13.860.181 | 141.000 | 1.874.402 | -19.778.307 | 0 | 0 | 0 | 42.454.276 |
| Change in accounting policies |
15 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Correction of errors from prior periods |
16 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Balance on the first day of the current business year (restated) |
17 | 46.357.000 | 13.860.181 | 141.000 | 1.874.402 | -19.778.307 | 0 | 0 | 0 | 42.454.276 |
| Profit or loss for the period |
18 | 0 | 0 | 0 | 854.861 | 0 | 0 | 0 | 0 | 854.861 |
| Unrealised gains or losses on financial assets at fair value through other comprehensive income |
19 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other changes in equity unrelated to owners |
20 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total directly recognised income and |
||||||||||
| expenses of the current year (current period) |
21 | 0 | 0 | 0 | 854.861 | 0 | 0 | 0 | 0 | 854.861 |
| Increase/decrease in subscribed capital |
22 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other contributions by owners |
23 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Payment of share in profit/dividend |
24 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other distribution to owners |
25 | 0 | 0 | 0 | -1.874.402 | 1.874.402 | 0 | 0 | 0 | 0 |
| Balance on the last day of the current business year reporting period |
26 | 46.357.000 | 13.860.181 | 141.000 | 854.861 | -17.903.905 | 0 | 0 | 0 | 43.309.137 |
17
NOTES TO THE ANNUAL FINANCIAL STATEMENTS – TFI (drawn up for quarterly reporting periods) Name of issuer: Zagrebačka burza d.d. Personal identification number (OIB): 84368186611
Reporting period: 1.1.2021 - 30.9.2021 Sort of report: Separate
1. Reporting entity
Zagrebačka burza d.d. ("the Company") is a company domiciled in Republic of Croatia and was registered at the Commercial Court in Zagreb on 5 July 1991 under the number (MBS) 0800034217. The personal identification number of the Company (OIB) is 84368186611.The address of the Company's registered office is Eurotower, 22nd floor, Ivana Lučića 2a/22, Zagreb, Croatia.
2. Basis of preparation and significant accounting policies
Basis for preparation
Financial statements are prepared on a historical cost basis, except for financial assets at fair value through profit or loss, financial assets at fair value through other comprehensive income which are measured at fair value.
The financial statements are presented in the local currency, Croatian kuna ("HRK"), which is the currency of the primary economic environment in which the Company operates ("the functional currency"). All financial data in the GFI form are presented in HRK, while the data in the Annual Report on Company Status and Business Activities in 2020 has been rounded to the nearest thousand.
Detailed information on the basis of preparation of the financial statements are provided in the Note to the separate financial statements No. 2 presented in the Annual Report on Company Status and Business Activities in 2020 available on the internet page www.zse.hr (further: Annual Report for the Company).
Significant accounting policies
The interim financial statements for the third quarter of 2021 are prepared applying the same accounting policies as in the latest annual financial statements presented in the Annual Report on Company Status and Business Activities in 2020 available on the internet page www.zse.hr (further: Annual Report for the Group).
Disclosure of information required by IFRSs that is not presented elsewhere in the statement of financial position, statement of comprehensive income, statement of cash flows and statement of changes in equity
Information required by IFRSs that is not presented elsewhere in the statement of financial position, statement of comprehensive income, statement of cash flows and statement of changes in equity are disclosed in Unconsolidated unaudited financial result for period 1.1. to 30.9.2021 (further: Unconsolidated result for the third quarter) as published on the internet page www.zse.hr.
3. Financial commitments, guarantees or contingencies that are not included in the balance sheet, and an indication of the nature and form of any valuable security which has been provided
The Company does not have financial commitments, guarantees or contingencies that are not included in the unconsolidated balance sheet as at 30 September 2021 nor has issued securities.
4. Amount and nature of individual items of income or expenditure which are of exceptional size or incidence
Details on the income or expenditure which are of exceptional size or incidence are presented in Note 1.12 presented in the Unconsolidated result for the third quarter (www.zse.hr).
Besides the above-mentioned notes, we are describing the differences in classification between incomes and expenditures as presented in the audited separate financial statements and Notes to the separate financial statements and incomes and expenditures presented in this TFI form:
(a) income from assigning and administering LEIs is, in accordance with the Company's accounting policies reported in other income (AOP 12) in the amount of HRK 274 thousand
(b) other differences between the information presented in the financial statements in TFI form compared to the classification of the information in the audited separate financial statements for 2020 are presented in the Attachment to these notes.
5. Liabilities falling due after more than five years, as well as the debts covered by valuable security
At the balance sheet date, the Company does not have liabilities falling due after more than five years. At the balance sheet date, the Company does not have debts covered by valuable securities.
6. Average number of employees during the reporting period
The average amount of the employees during the reporting period of 2021 is 24.
7. Capitalized costs of the salaries during the financial year
The Company did not capitalize the salaries in the financial year.
8. Deferred taxes
The Company does not have the deferred taxes as at 30 September 2021 as well as at 31 December 2020.
9. Name and registered office of each of the companies in which the issuer, either itself or through a person acting in their own name but on the issuer's behalf, holds a participating interest
The investments in the controlled companies, joint ventures and holdings of a participating interest are presented in the Notes 13 and 14 to the separate financial statements presented in the Annual Report on the Company. During the reporting period there were no significant changes in information presented in the Annual Report for the Company for 2020.
10. Number and the nominal value shares subscribed during the reporting period within the limits of the authorised capital
There were no shares subscribed during the reporting period within the limits of the authorised capital.
11. Existence of any participation certificates, convertible debentures, warrants, options or similar securities or rights
The Company has no participation certificates, convertible debentures, warrants, options or similar securities or rights.
12. Name, registered office and legal form of each of the companies of which the issuer is a member having unlimited liability
The Company has no shares in companies having unlimited liability.
13. Name and registered office of the company which draws up the consolidated financial statements for 3rd quarter 2021 of the largest group of companies of which the issuer forms part as a controlled group member
The Company is the final parent company and is not controlled member of any group. The Company prepares the consolidated financial statements for 3rd quarter 2021 that are available for use on the internet page www.zse.hr.
14. Name and registered office of the company which draws up the consolidated financial statements for 3rd quarter 2021 of the smallest group of companies of which the issuer forms part as a controlled group member and which is also included in the group of companies referred to in point 13.
The Company is the final parent company and is not controlled member of any group.
15. Place where copies of the consolidated financial statements referred to in points 13 and 14 may be obtained, provided that they are available
The Company prepares the consolidate financial statements that are available for use on the internet page www.zse.hr.
16. Nature and business purpose of the company's arrangements that are not included in the balance sheet and the financial impact on the company of those arrangements
The Company has no arrangements that are not included in presented unconsolidated financial statements as of 30th September 2021.
17. Nature and the financial effect of material events arising after the balance sheet date which are not reflected in the profit and loss account or balance sheet
Material events arising after the balance sheet date are presented in the Note 1.11 to the Unconsolidated result for the third quarter as published on the internet page www.zse.hr
Attachment: Reconciliation of the classification of the items of the financial statements in TFI form compared to the classification used in preparation of the audited financial statements for the year 2020
| P&L item (IFRS) | Amount HRK'000 |
P&L item (GFI) | Amount HRK'000 |
|---|---|---|---|
| Staff costs | 5.276 | Staff costs | 5.088 |
| Reclassification from other costs | 188 | ||
| Othe operating costs | 3.794 | Costs of raw materials | 329 |
| Other external costs | 2.494 | ||
| Value adjustment | 42 | ||
| Other costs | 1.113 | ||
| Other operating expenses | 4 | ||
| Reclassification to staff costs | (188) | ||
| Balance sheet item (IFRS) | Amount HRK'000 |
Balance sheet item (GFI) | Amount HRK'000 |
| Property and equipment | 1.262 | Land and buildings | 3.009 |
| Assets with right of use | 3.075 | Computer equipment | 799 |
| Other tangible assets | 181 | ||
| Assets under construction | 348 | ||
| Financial assets at fair value through other comprehensive | Financial assets at amortised cost (long | ||
| income | 1.302 | term) | 1.769 |
| Long term deposits | 250 | ||
| Loans receivable from associate | 217 | ||
| Trade receivables and other assets | 1.674 | Receivables (short term) | 1.681 |
| Inventories | 6 | Rounding | (1) |
| Trade and other payables | 1.134 | Trade payables | 209 |
| Short term financial assets | 859 | Liabilities to employees | 324 |
| Taxes, contributions and similar liabilities | 231 | ||
| Rounding | (1) | ||
| Other short-term liabilities | 1.230 | ||
| Contractual liabilities | 3.610 | Accruals and deferred income | 3.610 |
| Rounding | - |