Adris grupa d d : Interim financial statements 1Q2020 eng

November 11, 2020 at 06:49 am EST

ADRIS GRUPA d. d.

Interim financial statements at

31 March 2020

Adris Grupa d.d. / Obala Vladimira Nazora 1 / 52210 Rovinj, Hrvatska

tel.: +385 (0)52 801 000, 801 122; fax: +385 (0)52 813 587 / adris@adris.hr / www.adris.hr

CONTENT

MANAGEMENT REPORT ON THE INTERIM FINANCIAL STATEMENTS

INTERIM FINANCIAL STATEMENTS ADRIS GRUPA d. d. (unconsolidated and consolidated)

1 - 5

6 - 21

Adris Grupa d.d. / Obala Vladimira Nazora 1 / 52210 Rovinj, Hrvatska

tel.: +385 (0)52 801 000, 801 122; fax: +385 (0)52 813 587 / adris@adris.hr / www.adris.hr

Adris GRUPA

Management Report on the Interim Financial Statement

Principal activity of the Company

The principal activity of ADRIS GRUPA d. d. (hereinafter: "Adris" or the "Company") is management and investment. The goal of the Company as the corporate centre is coordination of investments, management, development and operation of the entire system.

Adris comprises three strategic business units: tourism, with Maistra d. d. at the helm, healthy food production, with Cromaris d. d. at the helm and insurance, with Croatia osiguranje d.d. at the helm (hereinafter: the "Group").

Indication of significant business events which occurred during the report period and expected development of the Company in the future

The beginning of 2020 was marked by the global epidemiological crisis caused by COVID-19, a consequence of which is a strong decline in economic activities across the world as well as in the Republic of Croatia. In order to maintain business continuity, Adris has taken many measures in all of its companies. From a short-term perspective, the emphasis is very much on liquidity and cost optimization with the aim of long-term sustainability of the system. The goals and measures are defined accordingly.

In the first quarter of 2020, Adris generated HRK 1.22 billion in total revenue, which is an increase of 2%. Revenues from sales of goods and services amount to HRK 937 million and are 5% lower. Net profit amounts to HRK 4 million.

Croatia osiguranje has kept its leading position in the Croatian market with the total share of 28.1%. The total gross written premium of Croatia osiguranje generated in Croatia amounts to HRK 834 million. Consolidated gross written premium, including the regional branches, is HRK 984 million. For the first quarter of 2020, Croatia osiguranje records consolidated net profit of HRK 119 million, which is up 28%. The result for the first quarter of 2020 also includes one-time items that have produced a favourable effect on the achieved results.

Adris Grupa d.d. / Obala Vladimira Nazora 1 / 52210 Rovinj, Hrvatska

tel.: +385 (0)52 801 000, 801 122; fax: +385 (0)52 813 587 / adris@adris.hr / www.adris.hr

Further organisational and business process transformation has brought about visible improvement in business results. The business improvement activities are going on. The project on product and customer portfolio optimization is implemented, and cost optimization initiatives launched. One of the company's strategic orientations is digitalization and orientation to online channels. The company is strongly focused on implementation of a new technological platform worth more than HRK 100 million, which will - in the next three-year period - replace the current IT solutions and create conditions to deliver services faster than ever before and provide better solutions for the market.

Due to COVID-19 pandemic, tourist arrivals from the Far East that are very important for operations of the Zagreb hotels, declined substantially at the beginning of this year. In March, borders were closed for movement of people and consequently tourism flows came to a standstill, which is now visible in the business results for March. At this point the booking shows that there is interest among international travellers to arrive for their holidays during high and low season. As a respond to the crisis, many expenditure rationalisation measures have been taken in the tourism division. The planned investments are reduced to a minimum in order to maintain business liquidity, although the preparations for the planned projects have continued. Since the earthquake that hit Zagreb additionally damaged some structures, a new investment plan shall redefine the investment priorities.

For the first quarter of 2020, Cromaris recorded sales of 1,830 tonnes, down 3% compared to the first three months last year. The volume of exports fell 3% primarily as a consequence of COVID-19 epidemic in March. Cromaris' share of sales in foreign markets is still high - 85% of volume sales and 86% of sales revenue. The trend of growth in differentiated products has continued, accounting for 48% of revenue from sales, which is consistent with Cromaris' differentiation strategy. Consequently, average prices rose by 1%. Revenues from sales amount to HRK 104 million, up 2%. For the first quarter of 2020, Cromaris reported net profit of HRK 4.3 million.

Adris Grupa d.d. / Obala Vladimira Nazora 1 / 52210 Rovinj, Hrvatska

tel.: +385 (0)52 801 000, 801 122; fax: +385 (0)52 813 587 / adris@adris.hr / www.adris.hr

Research and development activities

The Company continuously monitors events in its surroundings and invests in market research, modifies and supports activities of the subsidiaries with the purpose of achieving organic growth, as well as recognising business opportunities and realising new acquisitions.

Data on the purchase of own shares

During the reporting period, the Company acquired 1,661 own class ADRS (ADRS-R-A) shares, accounting for 0.0172% of the shares from this class and 0.0100% of the Company's total share capital. During the reporting period, the Company acquired 59,753 own class ADRS2 (ADRS-P-A) shares, accounting for 0.8794% of the shares from this class and 0.3627% of the Company's total share capital.

Detailed information on each individual acquisition transaction was publicly disclosed in accordance with the Companies Act, Capital Market Act and the Rules of the Zagreb Stock Exchange d. d.

At the end of the reporting period, the Company owned a total of 104,686 own class ADRS shares, accounting for 1.08% of the shares from this class, and 503,411 own class ADRS2 shares, accounting for 7.42% of the shares from this class, i.e. total of 608,097 own shares, accounting for 3.70% of the Company's total share capital.

Adris Grupa d.d. / Obala Vladimira Nazora 1 / 52210 Rovinj, Hrvatska

tel.: +385 (0)52 801 000, 801 122; fax: +385 (0)52 813 587 / adris@adris.hr / www.adris.hr

Subsidiaries

Within the scope of its operation, the Company operates directly through the following subsidiaries:

Company name	Headquarter
ABILIA d. o. o	Rovinj, Croatia
MAISTRA d. d.	Rovinj, Croatia
CROMARIS d. d.	Zadar, Croatia
CROATIA Osiguranje d. d.	Zagreb, Croatia
EXPERTUS d. o. o.	Zagreb, Croatia
HUP-ZAGREB d. d.	Zagreb, Croatia

Adris holds 100 % share in share capital of ABILIA d.o.o. and CROMARIS d.d., 90.72 % share in share capital of MAISTRA d. d., 66.39 % share in share capital of Croatia osiguranje d. d., 100 % share in share capital of EXPERTUS d. o. o. (out of which 22.22 % acknowledged on the basis of Option Agreement) and also 40.70 % direct share in share capital of HUP-Zagreb d. d.

Company has no established subsidiaries in accordance with Article 7 of the Companies Act.

Risks and risk management

The beginning of 2020 was marked by the global epidemiological crisis caused by COVID-19, a result of which was a strong decline in economic activities across the world as well as in the Republic of Croatia. The supply chain was slowed down or partially disrupted, the HoReCa channels closed in most of Europe and the movement of people across borders came to a standstill. Consequently, impossibility of tourist arrivals in the early season and cancellation of business and congress events represent a risk in the tourism division of the Group.

In the health food area, logistics and setting up export procedures for the key markets proved to be quite a challenge. Demand in the segment of HoReCa channels is expected to fall. Diminished opportunity for face to face communication with the customers represents a risk in the insurance segment. The initial difficulties in development of online channels and in setting up new procedures by the use of information technology have been overcome almost

Adris Grupa d.d. / Obala Vladimira Nazora 1 / 52210 Rovinj, Hrvatska

tel.: +385 (0)52 801 000, 801 122; fax: +385 (0)52 813 587 / adris@adris.hr / www.adris.hr

entirely. The expected fall in GDP and a decline in economic activities in the Republic of Croatia will probably result in a decreased demand for insurance services and higher collection risk. Negative trends and volatility of capital markets may have an impact on the comprehensive investment income.

Information on significant transactions between related parties produced in accordance with the applicable financial reporting standards

In the current reporting period, company Croatia osiguranje d.d. acquired the 100 % share in Astoria d.o.o. The seller is HUP Zagreb d.d.

Significant events after the end of the reporting period

There were no significant events after the end of the reporting period.

Adris Grupa d.d. / Obala Vladimira Nazora 1 / 52210 Rovinj, Hrvatska

tel.: +385 (0)52 801 000, 801 122; fax: +385 (0)52 813 587 / adris@adris.hr / www.adris.hr

ISSUER'S GENERAL DATA

Reporting period:	1.1.2020	to	31.3.2020

Year:	2020
Quarter:	1.

	Quarterly financial statements
egistration number (MB):	03075281	Issuer's home Member
State code:

Entity's registration	040001061
number (MBS):

Personal identification	82023167977	LEI: 3157003OO9IA06S5FS61
number (OIB):

Institution	3309
code:

Name of the issuer: ADRIS GRUPA d. d.

Postcode and town:

52210

Rovinj

treet and house number: Obala Vladimira Nazora 1

E-mailaddress: postmaster@adris.hr

Web address: www.adris.hr

Number of employees	23
(end of the reporting

Consolidated report:	KN	(KN-notconsolidated/KD-consolidated)
Audited:	RN	(RN-notaudited/RD-audited)
Names of subsidiaries (according to IFRS):	Registered office:	MB:

Bookkeeping firm:

(Yes/No)

Contact person: Palinec, Vitomir

(only name and surname of the contact person) Telephone: 052 801 118

E-mailaddress: postmaster@adris.hr

Audit firm:

(name of the audit firm)

Certified auditor:

BALANCE SHEET

	balance as at 31.03.2020
Item	ADP
code

1	2

	in HRK
Last day of the	At the reporting date
preceding business	of the current period
year
3	4

FIXED ASSETS (ADP 003+010+020+031+036)

2 Concessions, patents, licences, trademarks, software and other rights

4 Advances for the purchase of intangible assets

5 Intangible assets in preparation

1 Land

4 Tools, working inventory and transportation assets

5 Biological assets

8 Other tangible assets

1 Investments in holdings (shares) of undertakings within the group 2 Investments in other securities of undertakings within the group

participating interests

interests

8 Loans, deposits, etc. given

9 Other investments accounted for using the equity method

1 Receivables from undertakings within the group

2 Receivables from companies linked by virtue of participating interests

4 Other receivables

I INVENTORIES (ADP 039 to 045) 1 Raw materials and consumables

4 Merchandise

7 Biological assets

II RECEIVABLES (ADP 047 to 052)

interests

3 Customer receivables

4 Receivables from employees and members of the undertaking

III CURRENT FINANCIAL ASSETS (ADP 054 to 062)

2 Investments in other securities of undertakings within the group

4 Investments in holdings (shares) of companies linked by virtue of participating interests

participating interests

6 Loans, deposits etc. to companies linked by virtue of participating interests

8 Loans, deposits, etc. given

9 Other financial assets

TOTAL ASSETS (ADP 001+002+037+064)

001	0	0
002	6.458.689.194	6.549.221.384
004	0	0
005	178.161	148.292
006	0	0
007	0	0
008	2.321.004	2.321.004
	0	0
010	770.857.522	767.376.987
011	34.897.405	34.897.405
013	7.598.049	5.904.513
014	2.003.060	1.598.008
015	0	0
	5.208.068	5.208.068
017	417.324.908	418.279.123
018	4.173.889	4.138.659
020	5.546.590.937	5.640.724.256
021	5.117.338.701	5.132.381.295
022	0	0
024	0	0
025	0	0
026	0	0
027	113.226.020	113.226.020
028	0	0
029	0	0
031	974.043	883.318
032	0	0
033	0	0
034	0	0
035	974.043	883.318
037	1.320.600.112	1.190.432.571
038	46.338	58.799
039	46.338	58.799
	0	0
041	0	0
042	0	0
044	0	0
045	0	0
046	53.983.536	24.222.354
048	0	0
049	779.314	654.415
050	17.939	11.054
	5.663.132	6.088.733
052	44.335.083	13.843.374
053	902.318.548	1.154.412.808
055	0	0
	0	0
057	0	0
058	0	0
059	0	0
060	160.247.795	148.316.077
061	742.070.753	1.006.096.731
062	0	0
	364.251.690	11.738.610
064	554.335	772.260
065	7.779.843.641	7.740.426.215

LIABILITIES
A) CAPITAL AND RESERVES (ADP 068 to	067	7.448.676.890	7.430.166.101
			164.000.000	164.000.000
III RESERVES FROM PROFIT (ADP 071+072-073+074+075)	069	60.723.749	60.724.215
070	7.206.788.212	7.179.729.829
3	Treasury shares and holdings (deductible item)	072	242.093.633	269.152.016
073	-242.093.633	-269.152.016
4	Statutory reserves	074	7.194.339.537	7.167.281.154
			0	0
V FAIR VALUE RESERVES (ADP 078 to 080)	076	0	0
077	52.627.327	52.627.327
3	Hedge of a net investment in a foreign operation - effective portion	079	0	0
080	0	0
VI RETAINED PROFIT OR LOSS BROUGHT FORWARD (ADP 082-	081	-59.841.887	-35.462.398
083)

2	Loss brought forward	082	0	0
083	59.841.887	35.462.398
2	Loss for the business year	085	24.379.489	8.547.128
086	0	0
VIII MINORITY (NON-CONTROLLING) INTEREST	087	0	0
1	Provisions for pensions, termination benefits and similar obligations	089	56.684	56.684
4	Provisions for renewal of natural resources	091	0	0
092	0	0
5	Provisions for warranty obligations	093	0	0
	(ADP 096 to 106)		0	0
	095	223.586.869	223.586.869
1	Liabilities to undertakings within the group	096	0	0
2	Liabilities for loans, deposits, etc. of undertakings within the group	097	0	0
participating interests	099	0	0
100	0	0
6	Liabilities to banks and other financial institutions
101	0	0
7	Liabilities for advance payments	102	0	0
10	Other long-term liabilities	104	0	0
105	223.586.869	223.586.869
1	Liabilities to undertakings within the group		96.635.092	83.153.488
108	189.381	118.472
2	Liabilities for loans, deposits, etc. of undertakings within the group	109	29.271.601	28.948.548
participating interests	111	0	0

5	Liabilities for loans, deposits etc.	112	0	0
6	Liabilities to banks and other financial institutions	113	0	0
			0	0
9	Liabilities for securities	115	4.452.139	3.643.946
116	0	0
12	Liabilities arising from the share in the result	118	10.918.971	5.344.857
119	26.816.294	26.510.818
13	Liabilities arising from fixed assets held for sale	120	0	0
E) ACCRUALS AND DEFERRED INCOME	122	10.888.106	3.463.073
F) TOTAL - LIABILITIES (ADP 067+088+095+107+122)	123	7.779.843.641	7.740.426.215

STATEMENT OF PROFIT OR LOSS

for the period 01.01.2020 to 31.03.2020

Submitter: ADRIS GRUPA d. d.					in HRK

Item	ADP	Same period of the previous year	Current period
code	Cumulative	Quarter	Cumulative	Quarter


1	2	3	4	5	6

2 Income from sales (outside group)

5 Other operating income (outside the group)

OPERATING EXPENSES (ADP 132+133+137+141+142+143+146+153)

2 Material costs (ADP 134 to 136)

Costs of goods sold
Other external costs

Net salaries and wages
Tax and contributions from salary costs

Depreciation
Other costs
1. fixed assets other than financial assets

a) Provisions for pensions, termination benefits and similar

Provisions for ongoing legal cases
Provisions for renewal of natural resources

f) Other provisions

8 Other operating expenses

the group

2 Income from investments in holdings (shares) of companies linked by virtue of participating interests

3 Income from other long-term financial investment and loans granted to undertakings within the group

4 Other interest income from operations with undertakings within the group

5 Exchange rate differences and other financial income from operations with undertakings within the group

6 Income from other long-term financial investments and loans

9 Unrealised gains (income) from financial assets

group

undertakings within the group

5 Unrealised losses (expenses) from financial assets

SHARE IN PROFIT FROM UNDERTAKINGS LINKED BY VRITUE OF PARTICIPATING INTERESTS

PARTICIPATING INTEREST

IX TOTAL INCOME (ADP 125+154+173 + 174)

1 Pre-tax profit (ADP 177-178)

126	5.260.929	5.260.929	5.448.147	5.448.147
127	847.565	847.565	712.097	712.097
129	0	0	0	0
130	353.572	353.572	63.573	63.573
131	14.657.719	14.657.719	26.087.847	26.087.847
132	0	0	0	0
133	3.708.110	3.708.110	3.103.677	3.103.677
135	0	0	0	0
136	3.225.720	3.225.720	2.809.529	2.809.529
138	2.048.537	2.048.537	2.075.823	2.075.823
139	1.279.087	1.279.087	1.203.206	1.203.206
141	4.483.047	4.483.047	4.477.171	4.477.171
142	2.495.544	2.495.544	2.697.990	2.697.990
144	0	0	0	0
146	0	0	0	0
147	0	0	0	0
149	0	0	0	0
150	0	0	0	0
152	0	0	0	0
153	90.961	90.961	12.020.277	12.020.277
155	0	0	0	0
156	0	0	0	0
157	8.975.198	8.975.198	2.818.532	2.818.532
158	0	0	0	0
159	3	3	9	9
160	0	0	0	0
162	701.718	701.718	22.922.731	22.922.731
163	0	0	0	0
165	517.887	517.887	466.397	466.397
166	267.048	267.048	242.197	242.197
167	0	0	0	0
169	230.165	230.165	224.199	224.199
170	0	0	0	0
172	5	5	0	0
173	0	0	0	0
175	0	0	0	0
176	0	0	0	0
177	20.942.171	20.942.171	35.101.372	35.101.372
179	5.766.565	5.766.565	8.547.128	8.547.128
180	5.766.565	5.766.565	8.547.128	8.547.128

2 Pre-tax loss (ADP 178-177)

1 Profit for the period (ADP 179-182)

XIV PRE-TAX PROFIT OR LOSS OF DISCONTINUED OPERATIONS (ADP 187-188)

XV INCOME TAX OF DISCONTINUED OPERATIONS

TOTAL OPERATIONS (to be filled in only by undertakings subject to

2 Pre-tax loss (ADP 192)

1 Profit for the period (ADP 192-195)

2 Attributable to minority (non-controlling) interest

OTHER COMPREHENSIVE INCOME/LOSS BEFORE TAX (ADP 204 to 211)

2 Changes in revaluation reserves of fixed tangible and intangible assets

assets available for sale

4 Profit or loss arising from effective cash flow hedging

5 Profit or loss arising from effective hedge of a net investment in a foreign operation

6 Share in other comprehensive income/loss of companies linked by virtue of participating interests

7 Actuarial gains/losses on the defined benefit obligation

IV NET OTHER COMPREHENSIVE INCOME OR LOSS (ADP 203-212)

V COMPREHENSIVE INCOME OR LOSS FOR THE PERIOD (ADP 202+213)

VI COMPREHENSIVE INCOME OR LOSS FOR THE PERIOD (ADP 216+217)

1 Attributable to owners of the parent

181	0	0	0	0
183	5.766.565	5.766.565	8.547.128	8.547.128
184	5.766.565	5.766.565	8.547.128	8.547.128
186	0	0	0	0
188	0	0	0	0
189	0	0	0	0
191
with
193	0	0	0	0
194	0	0	0	0
196
197
200	0	0	0	0
201	0	0	0	0
202	5.766.565	5.766.565	8.786.540	8.786.540
203	0	0	0	0
204	0	0	0	0
205	0	0	0	0
206	0	0	0	0
207	0	0	0	0
208	0	0	0	0
209	0	0	0	0
210	0	0	0	0
212	0	0	0	0
213	0	0	0	0
214	5.766.565	5.766.565	8.786.540	8.786.540
215	0	0	0	0
216	0	0	0	0

STATEMENT OF CASH FLOWS - indirect method

for the period 01.01.2020 to 31.03.2020

Submitter: ADRIS GRUPA d. d.			in HRK

Item	ADP	Same period of the	Current period
code	previous year

1	2	3	4

Cash flow from operating activities

Pre-taxprofit
Adjustments (ADP 003 to 010):

Depreciation
Gains and losses from sale and value adjustment of fixed tangible and intangible assets
Gains and losses from sale and unrealised gains and losses and value adjustment of financial assets
Interest and dividend income
Interest expenses
Provisions
Exchange rate differences (unrealised)

losses

Cash flow increase or decrease before changes in working capital (ADP 001+002)

Increase or decrease in inventories
Other increase or decrease in working capital

Cash from operations (ADP 011+012)
4 Interest paid

NET CASH FLOW FROM OPERATING ACTIVITIES (ADP 017 to 019) Cash flow from investment activities

001	5.766.565	8.547.128
002	-9.534.834	-10.868.480
003	4.483.047	4.477.171
004	0	0
005	0	11.931.718
006	-13.747.590	-5.954.815
007	287.717	242.198
008	0	0
009	-558.008	-21.564.752
010	0	0
011	-3.768.269	-2.321.352
013	2.704.884	-12.581.779
014	8.100.743	-11.704.596
015	-25.453	-12.461
016	-12.313.431	47.907.554
017	-5.301.526	21.287.366
018	-283.295	-336.547
020	-10.113.056	20.950.819

1	Cash receipts from sales of fixed tangible and intangible assets	021	477.578	21.440
2	Cash receipts from sales of financial instruments	022	0	4.747
3	Interest received	023	784.270	4.292.225
		026	2.856	4.207
III Total cash receipts from investment activities (ADP 021 to 026)	027	248.872.025	66.059.578
1	Cash payments for the purchase of fixed tangible and intangible assets	028	-535.380	-4.139.217
2	Cash payments for the acquisition of financial instruments	029	0	-4.747
3	Cash payments for loans and deposits for the period	030	-134.188.501	-392.473.526
4	Acquisition of a subsidiary, net of cash acquired	031	-59.030.628	-15.042.594
IV Total cash payments from investment activities (ADP 028 to 032)	033	-193.754.509	-411.660.084
B) NET CASH FLOW FROM INVESTMENT ACTIVITIES (ADP 027 +033)	034	55.117.516	-345.600.506

Cash flow from financing activities
1	Cash receipts from the increase in initial (subscribed) capital	035	0	0
2	Cash receipts from the issue of equity financial instruments and debt	036	456.622	3.397
financial instruments

3	Cash receipts from credit principals, loans and other borrowings	037	3.600.000	0
4	Other cash receipts from financing activities	038	0	0
V Total cash receipts from financing activities (ADP 035 to 038)	039	4.056.622	3.397
1	Cash payments for the repayment of credit principals, loans and other	040	-500.000	-500.000
borrowings and debt financial instruments

4 Cash payments for the redemption of treasury shares and decrease in initial (subscribed) capital

5 Other cash payments from financing activities

VI Total cash payments from financing activities (ADP 040 to 044)

C) NET CASH FLOW FROM FINANCING ACTIVITIES (ADP 039 +045)

1 Unrealised exchange rate differences in respect of cash and cash equivalents

NET INCREASE OR DECREASE IN CASH FLOWS (ADP 020+034+046+047)

PERIOD

CASH AND CASH EQUIVALENTS AT THE END OF THE PERIOD(ADP 048+049)

041	-80.204	-305.476
042	0	0
043	-62.885.298	-27.061.300
044	0	-14
045	-63.465.502	-27.866.790
046	-59.408.880	-27.863.393
047	27	0
048	-14.404.393	-352.513.080
049	18.167.792	364.251.690
050	3.763.399	11.738.610

STATEMENT OF CHANGES IN EQUITY

	for the period from	1.1.2020	to	31.3.2020																	in HRK
											Attributable to owners of the parent
	Item			ADP					Treasury shares and						Fair value of		Hedge of a net	Retained profit /		Total attributable to	Minority (non-		Total capital and
			Initial (subscribed)			Reserves for				Revaluation		Cash flow hedge -	investment in a	Profit/loss for the	controlling)
			code	Capital reserves	Legal reserves	holdings (deductible	Statutory reserves	Other reserves			financial assets	loss brought	owners of the		reserves
				capital	treasury shares		reserves		effective portion	foreign operation -	business year	interest
							item)					available for sale	forward	parent
															effective portion

	1			2	3	4	5	6	7	8	9	10		11	12	13	14	15	16 (3 to 6 - 7	17		18 (16+17)
				+ 8 to 15)
Previous period
1 Balance on the first day of the previous business year		01	164.000.000	56.036.283	12.448.675	140.277.939	140.277.939	7.592.985.448		0		0	37.785.354	0	0	3.981.358	8.169.783	7.875.406.901		0	7.875.406.901
2 Changes in accounting policies			02	0	0	0	0	0	0		0		0	0	0	0	0	0	0		0	0
3 Correction of errors			03	0	0	0	0	0	0		0		0	0	0	0	0	0	0		0	0
4 Balance on the first day of the previous business year (restated) (ADP 01 to	04	164.000.000	56.036.283	12.448.675	140.277.939	140.277.939	7.592.985.448		0		0	37.785.354	0	0	3.981.358	8.169.783	7.875.406.901		0	7.875.406.901
03)
5 Profit/loss of the period			05	0	0	0	0	0	0		0		0	0	0	0	0	24.379.489	24.379.489		0	24.379.489
					0	0	0	0	0	0		0		0	0	0	0	0	0	0		0	0
7 Changes in revaluation reserves of fixed tangible and intangible assets		07	0	0	0	0	0	0		0		0	0	0	0	0	0	0		0	0
8 Profit or loss arising from subsequent measurement of financial assets available for	08	0	0	0	0	0	0		0		0	14.841.973	0	0	0	0	14.841.973		0	14.841.973
sale

9 Profit or loss arising from effective cash flow hedge			09	0	0	0	0	0	0		0		0	0	0	0	0	0	0		0	0
10	Profit or loss arising from effective hedge of a net investment in a foreign operation	10	0	0	0	0	0	0		0		0	0	0	0	0	0	0		0	0
11	Share in other comprehensive income/loss of companies linked by virtue of		11	0	0	0	0	0	0		0		0	0	0	0	0	0	0		0	0
participating interests

					0	0	0	0	0	0		0		0	0	0	0	0	0	0		0	0
13	Other changes in equity unrelated to owners			13	0	4.687.466	0	-25.656.698	-25.656.698	25.656.698		0		0	0	0	0	-78.270.018	0	-47.925.854		0	-47.925.854
14	Tax on transactions recognised directly in equity			14	0	0	0	0	0	0		0		0	0	0	0	0	0	0		0	0
15	Increase/decrease in initial (subscribed) capital (other than from reinvesting profit	15	0	0	0	0	0	0		0		0	0	0	0	0	0	0		0	0
and other than arising from the pre-bankruptcy settlement procedure)

16	Increase in initial (subscribed) capital arising from the reinvestment of profit		16	0	0	0	0	0	0		0		0	0	0	0	0	0	0		0	0
17	Increase in initial (subscribed) capital arising from the pre-bankruptcy settlement	17	0	0	0	0	0	0		0		0	0	0	0	0	0	0		0	0
procedure

18	Redemption of treasury shares/holdings			18	0	0	0	127.472.392	127.472.392	-127.472.392		0		0	0	0	0	0	0	-127.472.392		0	-127.472.392
19	Payment of share in profit/dividend			19	0	0	0	0	0	0		0		0	0	0	0	-290.553.227	0	-290.553.227		0	-290.553.227
20	Other distribution to owners			20	0	0	0	0	0	0		0		0	0	0	0	0	0	0		0	0
21	Transfer to reserves according to the annual schedule			21	0	0	0	0	0	-296.830.217		0		0	0	0	0	305.000.000	-8.169.783	0		0	0
22	Increase in reserves arising from the pre-bankruptcy settlement procedure		22	0	0	0	0	0	0		0		0	0	0	0	0	0	0		0	0
22)			23	164.000.000	60.723.749	12.448.675	242.093.633	242.093.633	7.194.339.537		0		0	52.627.327	0	0	-59.841.887	24.379.489	7.448.676.890		0	7.448.676.890
APPENDIX TO THE STATEMENT OF CHANGES IN EQUITY (to be filled in by undertakings that draw up financial statements in accordance with the IFRS)
I OTHER COMPREHENSIVE INCOME OF THE PREVIOUS PERIOD, NET OF	24	0	4.687.466	0	-25.656.698	-25.656.698	25.656.698		0		0	14.841.973	0	0	-78.270.018	0	-33.083.881		0	-33.083.881
TAX (ADP 06 to 14)

II COMPREHENSIVE INCOME OR LOSS FOR THE PREVIOUS PERIOD (ADP	25	0	4.687.466	0	-25.656.698	-25.656.698	25.656.698		0		0	14.841.973	0	0	-78.270.018	24.379.489	-8.704.392		0	-8.704.392
05+24)

III TRANSACTIONS WITH OWNERS IN THE PREVIOUS PERIOD RECOGNISED	26	0	0	0	127.472.392	127.472.392	-424.302.609		0		0	0	0	0	14.446.773	-8.169.783	-418.025.619		0	-418.025.619
DIRECTLY IN EQUITY (ADP 15 to 22)

Current period
1 Balance on the first day of the current business year			27	164.000.000	60.723.749	12.448.675	242.093.633	242.093.633	7.194.339.537		0		0	52.627.327	0	0	-59.841.887	24.379.489	7.448.676.890		0	7.448.676.890
2 Changes in accounting policies			28	0	0	0	0	0	0		0		0	0	0	0	0	0	0		0	0
3 Correction of errors			29	0	0	0	0	0	0		0		0	0	0	0	0	0	0		0	0
4 Balance on the first day of the current business year (restated) (ADP 27 to 29)	30	164.000.000	60.723.749	12.448.675	242.093.633	242.093.633	7.194.339.537		0		0	52.627.327	0	0	-59.841.887	24.379.489	7.448.676.890		0	7.448.676.890
5 Profit/loss of the period			31	0	0	0	0	0	0		0		0	0	0	0	0	8.547.128	8.547.128		0	8.547.128
6 Exchange rate differences from translation of foreign operations		32	0	0	0	0	0	0		0		0	0	0	0	0	0	0		0	0
7 Changes in revaluation reserves of fixed tangible and intangible assets		33	0	0	0	0	0	0		0		0	0	0	0	0	0	0		0	0
8 Profit or loss arising from subsequent measurement of financial assets available for	34	0	0	0	0	0	0		0		0	0	0	0	0	0	0		0	0
sale

9 Profit or loss arising from effective cash flow hedge			35	0	0	0	0	0	0		0		0	0	0	0	0	0	0		0	0
10	Profit or loss arising from effective hedge of a net investment in a foreign operation	36	0	0	0	0	0	0		0		0	0	0	0	0	0	0		0	0
11	Share in other comprehensive income/loss of companies linked by virtue of		37	0	0	0	0	0	0		0		0	0	0	0	0	0	0		0	0
participating interests

12	Actuarial gains/losses on the defined benefit obligation			38	0	0	0	0	0	0		0		0	0	0	0	0	0	0		0	0
				39	0	466	0	-2.917	-2.917	2.917		0		0	0	0	0	0	0	3.383		0	3.383
14	Tax on transactions recognised directly in equity			40	0	0	0	0	0	0		0		0	0	0	0	0	0	0		0	0
15	Increase/decrease in initial (subscribed) capital (other than from reinvesting profit	41	0	0	0	0	0	0		0		0	0	0	0	0	0	0		0	0
and other than arising from the pre-bankruptcy settlement procedure)

16	Increase in initial (subscribed) capital arising from the reinvestment of profit		42	0	0	0	0	0	0		0		0	0	0	0	0	0	0		0	0
17	Increase in initial (subscribed) capital arising from the pre-bankruptcy settlement	43	0	0	0	0	0	0		0		0	0	0	0	0	0	0		0	0
procedure

18	Redemption of treasury shares/holdings			44	0	0	0	27.061.300	27.061.300	-27.061.300		0		0	0	0	0	0	0	-27.061.300		0	-27.061.300
				45	0	0	0	0	0	0		0		0	0	0	0	0	0	0		0	0
20	Other distribution to owners			46	0	0	0	0	0	0		0		0	0	0	0	0	0	0		0	0
21	Transfer to reserves according to the annual schedule			47	0	0	0	0	0	0		0		0	0	0	0	24.379.489	-24.379.489	0		0	0
22	Increase in reserves arising from the pre-bankruptcy settlement procedure		48	0	0	0	0	0	0		0		0	0	0	0	0	0	0		0	0
23	Balance on the last day of the current business year reporting period (ADP	49	164.000.000	60.724.215	12.448.675	269.152.016	269.152.016	7.167.281.154		0		0	52.627.327	0	0	-35.462.398	8.547.128	7.430.166.101		0	7.430.166.101
30 to 48)

APPENDIX TO THE STATEMENT OF CHANGES IN EQUITY (to be filled in by undertakings that draw up financial statements in accordance with the IFRS)
I OTHER COMPREHENSIVE INCOME FOR THE CURRENT PERIOD, NET OF
TAX			50	0	466	0	-2.917	-2.917	2.917		0		0	0	0	0	0	0	3.383		0	3.383
	(ADP 32 to 40)
II COMPREHENSIVE INCOME OR LOSS FOR THE CURRENT PERIOD (ADP	51	0	466	0	-2.917	-2.917	2.917		0		0	0	0	0	0	8.547.128	8.550.511		0	8.550.511
31+50)

III TRANSACTIONS WITH OWNERS IN THE CURRENT PERIOD RECOGNISED	52	0	0	0	27.061.300	27.061.300	-27.061.300		0		0	0	0	0	24.379.489	-24.379.489	-27.061.300		0	-27.061.300
DIRECTLY IN EQUITY (ADP 41 to 48)

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

Name of the issuer: ADRIS GRUPA d. d.

Personal identification number (OIB): 82023167977

Reporting period: 01.01. to 31.03.2020

Notes to financial statements for quarterly periods include:

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

Access to the last annual financial statements is available on the Company's website https://www.adris.hr/odnosi-s-javnoscu/odnosi-s-investitorima/financijska-izvjesca/2019-2/, website of the Zagreb Stock Exchange, and in the Official Register of Regulatory Information at HANFA.

The same accounting policies are applied in the preparation of the financial statements for the quarterly reporting period as in the last annual financial statements.

ISSUER'S GENERAL DATA

Reporting period:	1.1.2020	to	31.3.2020

Year:	2020
Quarter:	1.

	Quarterly financial statements
egistration number (MB):	03075281	Issuer's home Member
State code:

Entity's registration	040001061
number (MBS):

Personal identification	82023167977	LEI: 3157003OO9IA06S5FS61
number (OIB):

Institution	3309
code:

Name of the issuer: ADRIS GRUPA d. d.

Postcode and town:

52210

Rovinj

treet and house number: Obala Vladimira Nazora 1

E-mailaddress: postmaster@adris.hr

Web address: www.adris.hr

Number of employees	6133
(end of the reporting

Consolidated report:	KD	(KN-notconsolidated/KD-consolidated)
Audited:	RN	(RN-notaudited/RD-audited)

Names of subsidiaries (according to IFRS):	Registered office:	MB:
MAISTRA d.d.	Rovinj, Obala Vladimira Nazora 6	01919016
CROMARIS d.d.	Zadar, Gaženička cesta 4/b	02561077
CROATIA osiguranje d. d.	Zagreb, Vatroslava Jagića 33	03276147
ABILIA d. o. o.	Rovinj, Obala Vladimira Nazora 1	01788493
EXPERTUS d. o. o.	Zagreb, Vatroslava Jagića 33	01885529

Bookkeeping firm:

(Yes/No)

Contact person: Palinec, Vitomir

(only name and surname of the contact person) Telephone: 052 801 118

E-mailaddress: postmaster@adris.hr

Audit firm:

(name of the audit firm)

Certified auditor:

BALANCE SHEET

	balance as at 31.03.2020
Item	ADP
code

1	2

	in HRK
Last day of the	At the reporting date
preceding business	of the current period
year
3	4

FIXED ASSETS (ADP 003+010+020+031+036)

2 Concessions, patents, licences, trademarks, software and other rights

4 Advances for the purchase of intangible assets

5 Intangible assets in preparation

1 Land

4 Tools, working inventory and transportation assets

5 Biological assets

8 Other tangible assets

1 Investments in holdings (shares) of undertakings within the group 2 Investments in other securities of undertakings within the group

participating interests

interests

8 Loans, deposits, etc. given

9 Other investments accounted for using the equity method

1 Receivables from undertakings within the group

2 Receivables from companies linked by virtue of participating interests

4 Other receivables

I INVENTORIES (ADP 039 to 045) 1 Raw materials and consumables

4 Merchandise

7 Biological assets

II RECEIVABLES (ADP 047 to 052)

interests

3 Customer receivables

4 Receivables from employees and members of the undertaking

III CURRENT FINANCIAL ASSETS (ADP 054 to 062)

2 Investments in other securities of undertakings within the group

4 Investments in holdings (shares) of companies linked by virtue of participating interests

participating interests

6 Loans, deposits etc. to companies linked by virtue of participating interests

8 Loans, deposits, etc. given

9 Other financial assets

TOTAL ASSETS (ADP 001+002+037+064)

001	0	0
002	17.161.755.893	17.041.405.639
004	0	0
005	297.796.073	291.669.726
006	330.810.481	330.810.482
007	0	15.965
008	8.976.396	20.128.878
	370.330.682	373.777.212
010	7.532.728.692	7.538.638.649
011	1.003.678.004	997.435.425
013	602.422.769	605.450.525
014	226.713.893	218.881.926
015	32.471.996	31.963.245
	13.088.837	26.976.618
017	483.734.191	516.270.521
018	28.011.371	28.204.393
020	8.185.336.376	8.058.295.630
021	0	0
022	0	0
024	89.589.582	91.858.314
025	0	0
026	0	0
027	7.203.742.062	7.165.718.334
028	892.004.732	800.718.982
029	0	0
031	191.915.405	184.307.366
032	0	0
033	0	0
034	905.418	722.771
035	191.009.987	183.584.595
037	4.467.703.745	4.784.646.860
038	649.283.317	631.413.134
039	41.975.625	35.526.077
	599.404.533	587.545.661
041	3.252.237	3.799.295
042	2.459.455	2.450.196
044	2.080.277	1.937.462
045	0	0
046	1.152.890.786	1.412.265.425
048	0	0
049	623.070.339	816.052.983
050	7.836.375	8.048.696
	39.698.385	50.234.927
052	482.285.687	537.928.819
053	1.984.333.992	1.830.252.179
055	0	0
	0	0
057	0	0
058	0	0
059	0	0
060	834.755.778	303.318.586
061	1.146.205.389	1.512.437.193
062	3.372.825	14.496.400
	681.195.650	910.716.122
064	60.287.494	50.826.005
065	21.689.747.132	21.876.878.504

LIABILITIES
A) CAPITAL AND RESERVES (ADP 068 to	067	10.564.819.525	10.315.594.470
			164.000.000	164.000.000
III RESERVES FROM PROFIT (ADP 071+072-073+074+075)	069	60.723.749	60.724.215
070	7.756.480.697	7.729.422.314
3	Treasury shares and holdings (deductible item)	072	242.093.633	269.152.016
073	-242.093.633	-269.152.016
4	Statutory reserves	074	7.744.032.022	7.716.973.639
			0	0
V FAIR VALUE RESERVES (ADP 078 to 080)	076	0	0
077	343.419.353	198.444.550
3	Hedge of a net investment in a foreign operation - effective portion	079	0	0
080	0	0
VI RETAINED PROFIT OR LOSS BROUGHT FORWARD (ADP 082-	081	264.403.805	664.452.004
083)

2	Loss brought forward	082	264.403.805	664.452.004
083	0	0
2	Loss for the business year	085	402.198.591	0
086	0	22.347.333
VIII MINORITY (NON-CONTROLLING) INTEREST	087	1.573.593.330	1.520.898.720
1	Provisions for pensions, termination benefits and similar obligations	089	64.470.285	52.398.986
4	Provisions for renewal of natural resources	091	90.250.077	59.499.054
092	0	0
5	Provisions for warranty obligations	093	0	0
	(ADP 096 to 106)		0	0
	095	7.175.423.096	7.113.636.830
1	Liabilities to undertakings within the group	096	0	0
2	Liabilities for loans, deposits, etc. of undertakings within the group	097	0	0
participating interests	099	0	0
100	37.519.790	223.225.877
6	Liabilities to banks and other financial institutions
101	1.499.961.125	1.481.938.081
7	Liabilities for advance payments	102	0	0
10	Other long-term liabilities	104	0	0
105	5.365.405.411	5.189.545.828
1	Liabilities to undertakings within the group		3.414.812.731	3.955.279.584
108	0	0
2	Liabilities for loans, deposits, etc. of undertakings within the group	109	0	0
participating interests	111	0	0

5	Liabilities for loans, deposits etc.	112	0	0
6	Liabilities to banks and other financial institutions	113	51.184.814	50.452.839
			25.056.326	59.014.607
9	Liabilities for securities	115	148.507.601	109.453.309
116	0	0
12	Liabilities arising from the share in the result	118	105.119.547	121.073.514
119	31.170.548	30.865.647
13	Liabilities arising from fixed assets held for sale	120	0	0
E) ACCRUALS AND DEFERRED INCOME	122	379.971.420	380.469.580
F) TOTAL - LIABILITIES (ADP 067+088+095+107+122)	123	21.689.747.134	21.876.878.504

STATEMENT OF PROFIT OR LOSS

for the period 01.01.2020 to 31.03.2020

Submitter: ADRIS GRUPA d. d.					in HRK

Item	ADP	Same period of the previous year	Current period
code	Cumulative	Quarter	Cumulative	Quarter


1	2	3	4	5	6

2 Income from sales (outside group)

5 Other operating income (outside the group)

OPERATING EXPENSES (ADP 132+133+137+141+142+143+146+153)

2 Material costs (ADP 134 to 136)

Costs of goods sold
Other external costs

Net salaries and wages
Tax and contributions from salary costs

Depreciation
Other costs
1. fixed assets other than financial assets

a) Provisions for pensions, termination benefits and similar

Provisions for ongoing legal cases
Provisions for renewal of natural resources

f) Other provisions

8 Other operating expenses

the group

2 Income from investments in holdings (shares) of companies linked by virtue of participating interests

3 Income from other long-term financial investment and loans granted to undertakings within the group

4 Other interest income from operations with undertakings within the group

5 Exchange rate differences and other financial income from operations with undertakings within the group

6 Income from other long-term financial investments and loans

9 Unrealised gains (income) from financial assets

group

undertakings within the group

5 Unrealised losses (expenses) from financial assets

SHARE IN PROFIT FROM UNDERTAKINGS LINKED BY VRITUE OF PARTICIPATING INTERESTS

PARTICIPATING INTEREST

IX TOTAL INCOME (ADP 125+154+173 + 174)

1 Pre-tax profit (ADP 177-178)

2 Loss for the period (ADP 182-179)

126	0	0	0	0
127	988.500.253	988.500.253	937.612.481	937.612.481
129	0	0	0	0
130	112.234.457	112.234.457	274.954.260	274.954.260
131	1.136.002.117	1.136.002.117	1.174.517.625	1.174.517.625
132	15.272.053	15.272.053	16.827.240	16.827.240
133	670.260.623	670.260.623	703.026.303	703.026.303
135	1.540.253	1.540.253	1.090.318	1.090.318
136	603.830.709	603.830.709	635.685.783	635.685.783
138	130.424.604	130.424.604	144.197.300	144.197.300
139	51.653.456	51.653.456	49.263.318	49.263.318
141	115.332.549	115.332.549	128.000.423	128.000.423
142	82.256.777	82.256.777	14.975.895	14.975.895
144	0	0	0	0
146	3.500.671	3.500.671	58.740	58.740
147	49	49	58.740	58.740
149	3.500.622	3.500.622	0	0
150	0	0	0	0
152	0	0	0	0
153	9.506.026	9.506.026	90.941.131	90.941.131
155	0	0	0	0
156	0	0	0	0
157	0	0	0	0
158	0	0	0	0
159	31.079	31.079	0	0
160	15.723.318	15.723.318	0	0
162	10.224.622	10.224.622	0	0
163	3.444.306	3.444.306	0	0
165	22.975.189	22.975.189	19.360.596	19.360.596
166	0	0	0	0
167	107.058	107.058	3.497.172	3.497.172
169	6.094.419	6.094.419	0	0
170	1.228.057	1.228.057	0	0
172	1.835.410	1.835.410	0	0
173	2.417.800	2.417.800	2.243.426	2.243.426
175	0	0	0	0
176	0	0	0	0
177	1.191.700.012	1.191.700.012	1.220.145.236	1.220.145.236
179	32.722.706	32.722.706	26.267.015	26.267.015
180	32.722.706	32.722.706	26.267.015	26.267.015
182	13.776.478	13.776.478	22.744.852	22.744.852
184	18.946.228	18.946.228	3.522.163	3.522.163
185	0	0	0	0

DISCONTINUED OPERATIONS (to be filled in by undertakings subject to IFRS only with discontinued operations)

(ADP 187-188)	186	0	0	0	0

XV INCOME TAX OF DISCONTINUED OPERATIONS	188	0	0	0	0
189	0	0	0	0
2 Discontinued operations loss for the period (ADP 189-186)	191

1 Pre-tax profit (ADP 192)	192	0	0	0	0
193
XVIII PROFIT OR LOSS FOR THE PERIOD (ADP 192-195)	195
196
	198

APPENDIX to the P&L (to be filled in by undertakings that draw up consolidated annual financial statements)

2 Attributable to minority (non-controlling) interest

(ADP 204 to 211)

1 Exchange rate differences from translation of foreign operations

assets

assets available for sale

4 Profit or loss arising from effective cash flow hedging

5 Profit or loss arising from effective hedge of a net investment in a foreign operation

6 Share in other comprehensive income/loss of companies linked by virtue of participating interests

TAX ON OTHER COMPREHENSIVE INCOME FOR THE PERIOD IV NET OTHER COMPREHENSIVE INCOME OR LOSS (ADP 203-212)

V COMPREHENSIVE INCOME OR LOSS FOR THE PERIOD (ADP 202+213)

APPENDIX to the Statement on comprehensive income (to be filled in

VI COMPREHENSIVE INCOME OR LOSS FOR THE PERIOD (ADP 216+217)

200	-352.394	-352.394	-22.347.333	-22.347.333
201	19.298.622	19.298.622	25.869.497	25.869.497
202	18.946.228	18.946.228	3.522.164	3.522.164
203	141.723.826	141.723.826	-268.019.372	-268.019.372
204	234.047	234.047	5.859.509	5.859.509
205	0	0	0	0
206	141.489.779	141.489.779	-273.878.881	-273.878.881
207	0	0	0	0
208	0	0	0	0
209	0	0	0	0
211	0	0	0	0
212	24.390.654	24.390.654	-49.723.265	-49.723.265
213	117.333.172	117.333.172	-218.296.107	-218.296.107
214	136.279.400	136.279.400	-214.773.943	-214.773.943
	that draw up	ted
215	136.279.400	136.279.400	-214.773.943	-214.773.943

217

58.792.968

-47.489.582

STATEMENT OF CASH FLOWS - indirect method

for the period 01.01.2020 to 31.03.2020

Submitter: ADRIS GRUPA d. d.			in HRK

Item	ADP	Same period of the	Current period
code	previous year

1	2	3	4

Cash flow from operating activities

1 Pre-tax profit
Depreciation
Gains and losses from sale and value adjustment of fixed tangible and intangible assets

adjustment of financial assets

Interest and dividend income
Interest expenses
Provisions
Exchange rate differences (unrealised)
Other adjustments for non-cash transactions and unrealised gains and losses

Cash flow increase or decrease before changes in working capital (ADP 001+002)

NET CASH FLOW FROM OPERATING ACTIVITIES (ADP 017 to 019) Cash flow from investment activities

001	32.722.706	26.267.015
002	31.830.767	71.074.226
003	115.332.549	128.000.423
004	201.106	1.075.154
005	-14.855.992	13.533.729
006	-59.175.151	-56.284.482
007	11.820.836	14.686.957
008	-51.298.087	-49.161.918
009	0	0
010	29.805.506	19.224.363
011	64.553.473	97.341.241
012	-34.722.938	71.106.003
013	478.277.250	581.499.110
014	-496.131.750	-283.720.087
015	10.429.782	17.870.183
016	-27.298.220	-244.543.203
017	29.830.535	168.447.244
018	-14.804.594	-20.706.953
019	-21.180.534	-5.990.829
020	-6.154.593	141.749.462

1	Cash receipts from sales of fixed tangible and intangible assets	021	6.507.877	1.591.755
		022	750.265.989	1.395.106.040
		023	97.687.603	108.454.621
		024	838.043	1.981.978
		025	680.322.812	360.237.179
		026	2.856	4.207
III Total cash receipts from investment activities (ADP 021 to 026)	027	1.535.625.180	1.867.375.780
1	Cash payments for the purchase of fixed tangible and intangible assets	028	-121.745.634	-97.670.464

IV Total cash payments from investment activities (ADP 028 to 032)	033	-1.673.210.865	-1.701.486.441
B) NET CASH FLOW FROM INVESTMENT ACTIVITIES (ADP 027 +033)	034	-137.585.685	165.889.339

Cash flow from financing activities
1 Cash receipts from the increase in initial (subscribed) capital	035	0	0
2 Cash receipts from the issue of equity financial instruments and debt	036	456.622	3.397
financial instruments

	037	107.496.762	0
	038	0	0
V Total cash receipts from financing activities (ADP 035 to 038)	039	107.953.384	3.397
borrowings and debt financial instruments	040	-132.528.783	-31.000.000

4 Cash payments for the redemption of treasury shares and decrease in initial (subscribed) capital

VI Total cash payments from financing activities (ADP 040 to 044)

C) NET CASH FLOW FROM FINANCING ACTIVITIES (ADP 039 +045)

1 Unrealised exchange rate differences in respect of cash and cash equivalents

NET INCREASE OR DECREASE IN CASH FLOWS (ADP 020+034+046+047)

PERIOD

CASH AND CASH EQUIVALENTS AT THE END OF THE PERIOD(ADP 048+049)

041	-7.456.539	-451.733
042	-3.814.802	0
043	-62.885.298	-27.061.300
044	-77.648.763	-19.608.693
045	-284.334.185	-78.121.726
046	-176.380.801	-78.118.329
047	27	0
048	-320.121.052	229.520.472
049	633.055.461	681.195.650
050	312.934.409	910.716.122

STATEMENT OF CHANGES IN EQUITY

	for the period from	1.1.2020	to	31.3.2020																	in HRK
											Attributable to owners of the parent
	Item			ADP					Treasury shares and						Fair value of		Hedge of a net	Retained profit /		Total attributable to	Minority (non-	Total capital and
			Initial (subscribed)			Reserves for				Revaluation		Cash flow hedge -	investment in a	Profit/loss for the	controlling)
			code	Capital reserves	Legal reserves	holdings (deductible	Statutory reserves	Other reserves			financial assets	loss brought	owners of the	reserves
				capital	treasury shares		reserves		effective portion	foreign operation -	business year	interest
							item)					available for sale	forward	parent
															effective portion

	1			2	3	4	5	6	7	8	9	10		11	12	13	14	15	16 (3 to 6 - 7	17	18 (16+17)
				+ 8 to 15)
Previous period
1 Balance on the first day of the previous business year		01	164.000.000	56.036.283	12.448.675	140.277.939	140.277.939	8.126.307.718		0		0	158.688.805	0	0	-28.694.718	307.477.342	8.796.264.105	1.473.521.506	10.269.785.611
2 Changes in accounting policies			02	0	0	0	0	0	0		0		0	0	0	0	0	0	0	0	0
3 Correction of errors			03	0	0	0	0	0	0		0		0	0	0	0	0	0	0	0	0
4 Balance on the first day of the previous business year (restated) (ADP 01 to	04	164.000.000	56.036.283	12.448.675	140.277.939	140.277.939	8.126.307.718		0		0	158.688.805	0	0	-28.694.718	307.477.342	8.796.264.105	1.473.521.506	10.269.785.611
03)
5 Profit/loss of the period			05	0	0	0	0	0	0		0		0	0	0	0	0	402.198.591	402.198.591	103.918.340	506.116.931
					0	0	0	0	0	0		0		0	0	0	0	0	0	0	0	0
7 Changes in revaluation reserves of fixed tangible and intangible assets		07	0	0	0	0	0	0		0		0	0	0	0	0	0	0	0	0
8 Profit or loss arising from subsequent measurement of financial assets available for	08	0	0	0	0	0	0		0		0	183.125.602	0	0	0	0	183.125.602	85.190.936	268.316.538
sale

9 Profit or loss arising from effective cash flow hedge			09	0	0	0	0	0	0		0		0	0	0	0	0	0	0	0	0
10	Profit or loss arising from effective hedge of a net investment in a foreign operation	10	0	0	0	0	0	0		0		0	0	0	0	0	0	0	0	0
11	Share in other comprehensive income/loss of companies linked by virtue of		11	0	0	0	0	0	0		0		0	0	0	0	0	0	0	0	0
participating interests

					0	0	0	0	0	0		0		0	0	0	0	0	0	0	0	0
13	Other changes in equity unrelated to owners			13	0	4.687.466	0	-25.656.698	-25.656.698	42.026.913		0		0	1.604.946	0	0	-20.655.809	0	27.663.516	-88.381.452	-60.717.936
14	Tax on transactions recognised directly in equity			14	0	0	0	0	0	0		0		0	0	0	0	0	0	0	0	0
15	Increase/decrease in initial (subscribed) capital (other than from reinvesting profit	15	0	0	0	0	0	0		0		0	0	0	0	0	0	0	0	0
and other than arising from the pre-bankruptcy settlement procedure)

16	Increase in initial (subscribed) capital arising from the reinvestment of profit		16	0	0	0	0	0	0		0		0	0	0	0	0	0	0	0	0
17	Increase in initial (subscribed) capital arising from the pre-bankruptcy settlement	17	0	0	0	0	0	0		0		0	0	0	0	0	0	0	0	0
procedure

18	Redemption of treasury shares/holdings			18	0	0	0	127.472.392	127.472.392	-127.472.392		0		0	0	0	0	0	0	-127.472.392	0	-127.472.392
19	Payment of share in profit/dividend			19	0	0	0	0	0	0		0		0	0	0	0	-290.553.227	0	-290.553.227	-656.000	-291.209.227
20	Other distribution to owners			20	0	0	0	0	0	0		0		0	0	0	0	0	0	0	0	0
21	Transfer to reserves according to the annual schedule			21	0	0	0	0	0	-296.830.217		0		0	0	0	0	604.307.559	-307.477.342	0	0	0
22	Increase in reserves arising from the pre-bankruptcy settlement procedure		22	0	0	0	0	0	0		0		0	0	0	0	0	0	0	0	0
22)			23	164.000.000	60.723.749	12.448.675	242.093.633	242.093.633	7.744.032.022		0		0	343.419.353	0	0	264.403.805	402.198.591	8.991.226.195	1.573.593.330	10.564.819.525
APPENDIX TO THE STATEMENT OF CHANGES IN EQUITY (to be filled in by undertakings that draw up financial statements in accordance with the IFRS)
I OTHER COMPREHENSIVE INCOME OF THE PREVIOUS PERIOD, NET OF	24	0	4.687.466	0	-25.656.698	-25.656.698	42.026.913		0		0	184.730.548	0	0	-20.655.809	0	210.789.118	-3.190.516	207.598.602
TAX (ADP 06 to 14)

II COMPREHENSIVE INCOME OR LOSS FOR THE PREVIOUS PERIOD (ADP	25	0	4.687.466	0	-25.656.698	-25.656.698	42.026.913		0		0	184.730.548	0	0	-20.655.809	402.198.591	612.987.709	100.727.824	713.715.533
05+24)

III TRANSACTIONS WITH OWNERS IN THE PREVIOUS PERIOD RECOGNISED	26	0	0	0	127.472.392	127.472.392	-424.302.609		0		0	0	0	0	313.754.332	-307.477.342	-418.025.619	-656.000	-418.681.619
DIRECTLY IN EQUITY (ADP 15 to 22)

Current period
1 Balance on the first day of the current business year			27	164.000.000	60.723.749	12.448.675	242.093.633	242.093.633	7.744.032.022		0		0	343.419.353	0	0	264.403.805	402.198.591	8.991.226.195	1.573.593.330	10.564.819.525
2 Changes in accounting policies			28	0	0	0	0	0	0		0		0	0	0	0	0	0	0	0	0
3 Correction of errors			29	0	0	0	0	0	0		0		0	0	0	0	0	0	0	0	0
4 Balance on the first day of the current business year (restated) (ADP 27 to 29)	30	164.000.000	60.723.749	12.448.675	242.093.633	242.093.633	7.744.032.022		0		0	343.419.353	0	0	264.403.805	402.198.591	8.991.226.195	1.573.593.330	10.564.819.525
5 Profit/loss of the period			31	0	0	0	0	0	0		0		0	0	0	0	0	-22.347.333	-22.347.333	25.869.497	3.522.164
6 Exchange rate differences from translation of foreign operations		32	0	0	0	0	0	0		0		0	0	0	0	0	0	0	0	0
7 Changes in revaluation reserves of fixed tangible and intangible assets		33	0	0	0	0	0	0		0		0	0	0	0	0	0	0	0	0
8 Profit or loss arising from subsequent measurement of financial assets available for	34	0	0	0	0	0	0		0		0	-144.937.028	0	0	0	0	-144.937.028	-73.359.079	-218.296.107
sale

9 Profit or loss arising from effective cash flow hedge			35	0	0	0	0	0	0		0		0	0	0	0	0	0	0	0	0
10	Profit or loss arising from effective hedge of a net investment in a foreign operation	36	0	0	0	0	0	0		0		0	0	0	0	0	0	0	0	0
11	Share in other comprehensive income/loss of companies linked by virtue of		37	0	0	0	0	0	0		0		0	0	0	0	0	0	0	0	0
participating interests

12	Actuarial gains/losses on the defined benefit obligation			38	0	0	0	0	0	0		0		0	0	0	0	0	0	0	0	0
				39	0	466	0	-2.917	-2.917	2.917		0		0	-37.775	0	0	-2.150.392	0	-2.184.784	-5.205.028	-7.389.812
14	Tax on transactions recognised directly in equity			40	0	0	0	0	0	0		0		0	0	0	0	0	0	0	0	0
15	Increase/decrease in initial (subscribed) capital (other than from reinvesting profit	41	0	0	0	0	0	0		0		0	0	0	0	0	0	0	0	0
and other than arising from the pre-bankruptcy settlement procedure)

16	Increase in initial (subscribed) capital arising from the reinvestment of profit		42	0	0	0	0	0	0		0		0	0	0	0	0	0	0	0	0
17	Increase in initial (subscribed) capital arising from the pre-bankruptcy settlement	43	0	0	0	0	0	0		0		0	0	0	0	0	0	0	0	0
procedure

18	Redemption of treasury shares/holdings			44	0	0	0	27.061.300	27.061.300	-27.061.300		0		0	0	0	0	0	0	-27.061.300	0	-27.061.300
				45	0	0	0	0	0	0		0		0	0	0	0	0	0	0	0	0
20	Other distribution to owners			46	0	0	0	0	0	0		0		0	0	0	0	0	0	0	0	0
21	Transfer to reserves according to the annual schedule			47	0	0	0	0	0	0		0		0	0	0	0	402.198.591	-402.198.591	0	0	0
22	Increase in reserves arising from the pre-bankruptcy settlement procedure		48	0	0	0	0	0	0		0		0	0	0	0	0	0	0	0	0
23	Balance on the last day of the current business year reporting period (ADP	49	164.000.000	60.724.215	12.448.675	269.152.016	269.152.016	7.716.973.639		0		0	198.444.550	0	0	664.452.004	-22.347.333	8.794.695.750	1.520.898.720	10.315.594.470
30 to 48)

APPENDIX TO THE STATEMENT OF CHANGES IN EQUITY (to be filled in by undertakings that draw up financial statements in accordance with the IFRS)
I OTHER COMPREHENSIVE INCOME FOR THE CURRENT PERIOD, NET OF
TAX			50	0	466	0	-2.917	-2.917	2.917		0		0	-144.974.803	0	0	-2.150.392	0	-147.121.812	-78.564.107	-225.685.919
	(ADP 32 to 40)
II COMPREHENSIVE INCOME OR LOSS FOR THE CURRENT PERIOD (ADP	51	0	466	0	-2.917	-2.917	2.917		0		0	-144.974.803	0	0	-2.150.392	-22.347.333	-169.469.145	-52.694.610	-222.163.755
31+50)

III TRANSACTIONS WITH OWNERS IN THE CURRENT PERIOD RECOGNISED	52	0	0	0	27.061.300	27.061.300	-27.061.300		0		0	0	0	0	402.198.591	-402.198.591	-27.061.300	0	-27.061.300
DIRECTLY IN EQUITY (ADP 41 to 48)

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

Name of the issuer: ADRIS GRUPA d. d.

Personal identification number (OIB): 82023167977

Reporting period: 01.01. to 31.03.2020

Notes to financial statements for quarterly periods include:

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

The same accounting policies are applied in the preparation of the financial statements for the quarterly reporting period as in the last annual financial statements.

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Adris grupa dd published this content on 11 November 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 November 2020 11:48:07 UTC

End-of-day quote Zagreb S.E. Other stock markets 06:00:00 2024-05-07 pm EDT			5-day change	1st Jan Change
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Apr. 30	Adris grupa d. d. Reports Earnings Results for the First Quarter Ended March 31, 2024	CI
Feb. 27	Adris grupa d. d. Reports Earnings Results for the Full Year Ended December 31, 2023	CI

Adris grupa d. d. Reports Earnings Results for the First Quarter Ended March 31, 2024	Apr. 30	CI
Adris grupa d. d. Reports Earnings Results for the Full Year Ended December 31, 2023	Feb. 27	CI
Adris grupa d. d. Reports Earnings Results for the Fourth Quarter Ended December 31, 2023	Feb. 27	CI
Adris grupa d. d. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023	23-10-26	CI
Adris grupa d. d.'s Equity Buyback announced on June 15, 2022, has expired.	23-06-19	CI
Adris grupa d. d. Reports Earnings Results for the First Quarter Ended March 31, 2023	23-04-28	CI
Adris grupa d. d. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2022	23-02-23	CI
Adris grupa d. d. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2022	22-10-28	CI
Adris grupa d. d. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2022	22-07-27	CI
Adris grupa d. d.'s Equity Buyback announced on June 18, 2021, has expired.	22-06-19	CI
Adris grupa d. d. announces an Equity Buyback for 944,607 shares, for HRK 450 million.	22-06-15	CI
Adris grupa d. d. authorizes a Buyback Plan.	22-06-14	CI
Adris grupa d. d. Reports Earnings Results for the First Quarter Ended March 31, 2022	22-04-28	CI
Adris grupa d. d. Reports Earnings Results for the First Quarter Ended March 31, 2022	22-04-28	CI
Adris grupa d. d. Reports Earnings Results for the Full Year Ended December 31, 2021	22-02-28	CI
Adris grupa d. d. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2021	21-10-28	CI
Adris Grupa D. D. Reports Earnings Results for the Second Quarter Ended June 30, 2021	21-07-29	CI
Adris grupa d. d. announces an Equity Buyback.	21-06-29	CI
Adris grupa d. d. authorizes a Buyback Plan.	21-06-17	CI
Adris grupa d. d.'s Equity Buyback announced on June 19, 2020, has expired.	21-06-17	CI
Adris grupa d. d. acquired remaining 22.2% stake in Expertus D.O.O.	21-02-28	CI
Adris grupa d. d. announces an Equity Buyback for 1,640,000 shares, for HRK 900 million.	20-06-18	CI
Adris grupa d. d.'s Equity Buyback announced on July 1, 2019, has expired.	20-06-18	CI
Adris grupa d.d. authorizes a Buyback Plan.	20-06-17	CI
Adris Reports Consolidated Earnings Results for the First Quarter of 2020	20-04-28	CI

	1st Jan change	Capi.
ADRIS GRUPA D. D.	0.00%	1.21B
ALLIANZ SE	+9.73%	111B
MARSH & MCLENNAN COMPANIES	+8.49%	101B
ZURICH INSURANCE GROUP LTD	+4.05%	72.63B
HARTFORD FINANCIAL SERVICES GROUP (THE), INC.	+26.76%	30.13B
TALANX AG	+7.89%	19.39B
BB SEGURIDADE PARTICIPAÇÕES S.A.	-1.55%	12.65B
POWSZECHNY ZAKLAD UBEZPIECZE? SPÓLKA AKCYJNA	+10.85%	11.33B
ASR NEDERLAND N.V.	+14.00%	11.05B
ICICI LOMBARD GENERAL INSURANCE COMPANY LIMITED	+17.00%	9.8B

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