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1 dpavlin 1.1 <p><b>PLIVA GROUP 1998 FULL YEAR RESULTS</b></p>
2     <p><b>CONTINUED STRONG GROWTH EBIT UP BY 41,4%</b></p>
3     <p>Zagreb, 12th April 1999</p>
4     <p>PLIVA, the largest pharmaceuticals company in Central and Eastern Europe and
5     listed on the London and Zagreb Stock Exchanges, today announces excellent full
6     year results for the financial year 1998.</p>
7     <p>Highlights</p>
8     <ul>
9     <li>Turnover up 25.6% to HRK 3,575.7 m.</li>
10     <li>EBIT up 41.4% to HRK 1,079.4m.</li>
11     <li>Net profit up 14.2% to HRK 688.8m.</li>
12     <li>Earnings per share up 15% to HRK 34.57</li>
13     <li>Strong sales growth (+43.9%) on international markets</li>
14     <li>59.5% sales revenues now from international markets</li>
15     <li>Considerable growth (+77.6%) on target markets of Central and Eastern Europe</li>
16     <li>Strategy redefined: main focus on pharmaceuticals</li>
17     <li>Resolved double taxation issue</li>
18     </ul>
19     <p>In 1998 PLIVA continued its strong growth trend. PLIVA's turnover increased
20     to HRK 3.58 billion, which represents an increase of 25.6 %. EBIT rose by 41.4
21     % (HRK 1,079.4 million), and net profit rose to HRK 688.8 million, up 14.2 %.
22     Major driving forces behind the turnover increase are strong sales growth on
23     export markets and an increase in royalty income, as well as the effects of
24     the consolidation of PLIVA Krakow. Sales in international markets rose by 43.9
25     %, increasing the share of PLIVA's export markets to 59.5 %. PLIVA's strategic
26     decision to continue strengthening its position in CEE markets was carried out
27     in 1998. In this region PLIVA achieved a 77.6 % growth, turning Central and
28     Eastern Europe into the fastest growing and most significant market for PLIVA.
29     The largest growth in 1998 was recorded in the Pharmaceuticals Division (up
30     by 34.9 %), while the decision to spin-off non-core businesses, notably the
31     Cosmetics Division, proved to be very effective.</p>
32     <p>Commenting on the results, Zeljko Covic, President of the Management Board
33     said: "Growth and development as the fundamental traits of PLIVA's business
34     performance in the last five years were again demonstrated successfully in 1998.
35     Despite the fact that conditions in PLIVA's environment were more difficult
36     than in 1997, namely, the Russian crisis and its negative impact on Central
37     and Eastern European markets as well as worsened conditions in the Croatian
38     macroeconomic environment, PLIVA recorded excellent results. In order to strengthen
39     its competitiveness in the world market, PLIVA continued its substantial investment
40     activities in both the production facilities and in the new Research Institute
41     building. New production facilities will meet the highest industry standards,
42     thus enabling PLIVA to export to the most sophisticated pharmaceutical markets.
43     Furthermore, the new research facility will enable PLIVA to further enhance
44     its capabilities of developing new molecules, as well as generic and OTC products.</p>
45     <p>The non-existence of double taxation treaty between USA and Croatia will no
46     longer be an issue for PLIVA. The Ministry of Finance of the Republic of Croatia
47     accepted PLIVA's numerous arguments and confirmed that the withholding tax that
48     PLIVA pays in the USA will be accounted for as a prepaid tax on income from
49     royalties. Hence, the total tax on royalties will decrease from 53% to around
50     35% - the level of corporate tax rate paid in Croatia.</p>
51     <p>Although PLIVA is today the most profitable company in Croatia and the largest
52     pharmaceuticals company in Central and Eastern Europe, continuing record growth
53     trends, all long-term analyses suggested that it was necessary for PLIVA to
54     redefine its business strategy in order to secure continuous growth and development.
55     That is why PLIVA started to redefine its strategy. At the end of 1997 PLIVA
56     began a large restructuring programme of the company. PLIVA's efforts in 1998
57     focused on defining a new business strategy. A new, winning corporate philosophy
58     and a new organisation have been established. The objective of all these activities
59     is for PLIVA to acquire long-term competence to change and adapt quickly to
60     the changing economic conditions. The overall aim of the redefined strategy
61     is to secure continuous and long-term growth of the company and increase shareholder
62     value."</p>
63     <p>The Y2K issue is being managed effectively by an in house team and by the end
64     of 1998 60% of PLIVA's equipment was successfully adapted. The introduction
65     of the SAP R/3 IT system has already been solving part of the problem as this
66     system is Y2K compatible.</p>
67     <p>1. PLIVA Group Revenue</p>
68     <p>PLIVA Group turnover in 1998 reached a total of HRK 3,575.7 mil., rising 25.6%
69     over the year 1997. Sales revenue grew considerably in 1998, increasing by 21.6%
70     (HRK 523.8 mil.). Revenue from royalties increased in 1998 by HRK 227.9 mil.,
71     or 67.3% and amounted to HRK 566.6 mil. representing 15.8% of turnover. In 1998,
72     PLIVA changed its policy of recording royalty revenues. Gross royalties are
73     now reported under royalty revenues, unlike in previous years, where the proceeds
74     were reduced by the 30% withholding tax payable in the United States. This reflects
75     a confirmation of the Croatian tax policy, recently explained by the Ministry
76     of Finance, to avoid double taxation of overseas profits. By applying this procedure,
77     PLIVA earned an additional HRK 124.4 mil. more in royalties, without which the
78     growth in royalties revenue would have been 30.6%.</p>
79     <p>The Group's focus on the pharmaceuticals sector was reflected in the strong
80     sales growth, rising 34.9% or HRK 470.9 mil. Due to this very strong growth
81     rate, the contribution of pharmaceutical products in turnover for 1998 was 51%.
82     All other business sectors achieved a growth in sales revenue, with the exception
83     of the Food sector, which fell by 4.7%. This was due to its extreme sensitivity
84     to changes in the region (the Russian crisis and the fall in purchasing power
85     in Croatia). Sales of animal health and agrochemical products rose by HRK 24.5
86     mil. or 14%, bulk pharmaceuticals by HRK 29.2 mil. or 6.3% and cosmetics and
87     hygiene products by HRK 13.9 mil. or 11.4%.</p>
88     <p>In 1998, nearly 60% of Group revenues were earned in international markets.
89     Foreign exchange movements contributed to a 0.8% increase in 1998 turnover.</p>
90     <p>The increasingly international nature of PLIVA Group's operations is reflected
91     in the significant increase in sales revenue generated in international markets.
92     International sales revenue rose by 43.9% during 1998. At the same time, PLIVA
93     increased sales in Croatia by 5.8%, maintaining its position as the leading
94     pharmaceuticals company on the Croatian market. During 1998, PLIVA's most significant
95     markets outside Croatia were in the Central and Eastern European region. Revenues
96     from these markets increased from 18.1% to 25.6% of PLIVA Group's total earnings.
97     This region had the strongest growth compared to the previous year: +77.6%.
98     The region with smallest share of total sales revenue was Russia, accounting
99     for just 2.8%. Total sales in Russia fell by 6.1% due to the unfavourable economic
100     situation. In North and South America, PLIVA Group achieved a significant growth
101     rate of 35.2%, which now accounts for 21.6% of Group turnover.</p>
102     <p>2. Operating Costs</p>
103     <p>PLIVA Group's total operating costs increased in 1998 less than the increase
104     in turnover. The 19.8% increase in costs was largely due to consolidation of
105     PLIVA Krakow.</p>
106     <p>PLIVA Group's costs of goods sold increased to HRK 1,241.5 mil., up by 20%
107     on 1997 representing 34.7% of turnover in 1998.</p>
108     <p> Sales, general and administrative costs without HRK 31 mil. amortisation of
109     goodwill grew by 18.7% to HRK 1,042.3 mil., but fell as a percentage of turnover
110     from 30.9% to 29.2%. The increase of these costs was partly due to continued
111     company development and expansion.</p>
112     <p>PLIVA Group research and development costs amounted to HRK 150.6 mil. or 5.1%
113     of Group sales, accounting for 6% of healthcare sector sales.</p>
114     <p>3. Profitability</p>
115     <p>Despite the considerable costs of restructuring, bad debt provisions and write-offs,
116     most PLIVA Group's profitability indicators improved over the last year. Gross
117     profit increased by 28.8% representing a rise from 63.7% to 65.3% of turnover.
118     This was largely due to a greater increase in turnover than in cost of goods
119     sold as well as increased revenues from royalties in terms of both real growth
120     and gross figures for 1998.</p>
121     <p>Earnings before interest and tax (EBIT) increased by 41.4% to HRK 1,079.4 mil.
122     whilst the EBIT margin increased from 26.8% in 1997 to 30.2% in 1998, despite
123     considerable sales, general and administrative costs and R&D costs.</p>
124     <p>Net profit amounted to HRK 688.8 mil., up 14.2% on 1997, representing 19.3%
125     of turnover, whilst earnings per share increased by 15% to HRK 34.57.</p>
126     <p>Taxes and contributions increased by 40.4% on 1997 and from 9.7% to 10.8% of
127     turnover. Effective Corporation tax increased from 31.3% in 1997 to 35.4% in
128     1998 due to higher tax rates in PLIVA Krakow and lower tax relief in PLIVA d.d.
129     compared to 1997.</p>
130     <p>4. Financial Position</p>
131     <p>PLIVA Group maintained its high level of financial stability in 1998, with
132     moderate gearing and an increase in total shareholders' equity of 11.1%. The
133     debt to equity ratio was of 21.4% at the year end. Although short-term and long-term
134     debt was significantly higher than in the previous year, total external sources
135     of finance for the Group's operation, growth and development amounted to 29.5%,
136     showing a high ratio of internal financing, which guarantees PLIVA Group's financial
137     stability.</p>
138     <p>5. Investment Activities</p>
139     <p>Total investments in fixed assets, subsidiaries abroad, acquisitions and shares
140     amounted to HRK 969 mil. in 1998. Amongst those, 88%, or HRK 855 mil., of total
141     investments were made by PLIVA d.d.. Significant investments by other Group
142     members include those by PLIVA Krakow (HRK 63 mil.) and Neva (HRK 20 mil.).
143     Two large investments were completed in 1998: The state-of-the-art facility
144     for production of azithromycin in Zagreb, and the new Oral Solid Forms plant
145     in Krakow. At the same time, construction of the new plant for the manufacturing
146     of finished drugs has started in Zagreb. The new Oral Solid Forms plant will
147     be a modern facility and will enable PLIVA to export finished drugs to markets
148     with highest industry standards in the world. Furthermore, preparations for
149     the construction of a new Research Institute in Zagreb began during 1998 with
150     an expected completion date towards the end of 2000.</p>
151     <p>6. Dividend</p>
152     <p>PLIVA's Management Board proposed a dividend of HRK 7.35 per share subject
153     to the approval of the General Assembly.</p>
154     <p>7. Share Price Performance</p>
155     <p>During the first quarter of 1998, PLIVA shares were strong, rising until mid-April,
156     reaching a closing high of HRK 630 on the Zagreb Stock Exchange and USD 20.30
157     on the London Stock Exchange. Later in the year, PLIVA's share fell victim to
158     a general weakness in Eastern European markets, in particular on the back of
159     the Russian economic crisis. However, PLIVA shares soon recovered, clearly outperforming
160     the Zagreb Stock Exchange and PLIVA's peer group shares. PLIVA closed 1998 in
161     Zagreb at HRK 515, while in London the GDR's closed at USD 16.6. PLIVA's year
162     end market capitalisation was USD 1.68 billion.</p>
163     <p>Notes:<br>
164     1997 and 1998 data are based or derived from the Audited Report prepared by
165     Pricewaterhouse Coopers.</p>
166     <table border=0 cellpadding=0>
167     <tr>
168     <td width=455 colspan=3 class="Normal">
169     <p align=center style='text-align:center'><b><span lang=HR
170     style='font-family:Arial'>Consolidated Profit and Loss Account</span></b><span
171     lang=HR style='color:navy'></span></p>
172     </td>
173     </tr>
174     <tr>
175     <td colspan=3 class="Normal">
176     <p align=center style='text-align:center'><span lang=HR
177     style='font-size:10.0pt;font-family:Arial'>(In accordance with IAS)</span><span
178     lang=HR style='color:navy'></span></p>
179     </td>
180     </tr>
181     <tr>
182     <td class="Normal">&nbsp; </td>
183     <td class="Normal">&nbsp; </td>
184     <td class="Normal">&nbsp; </td>
185     </tr>
186     <tr>
187     <td class="Normal">&nbsp; </td>
188     <td class="Normal">&nbsp; </td>
189     <td class="Normal">&nbsp; </td>
190     </tr>
191     <tr>
192     <td colspan=3 class="Normal">
193     <p align=right style='text-align:right'><span style='font-size:10.0pt;
194     font-family:Arial'>For the years ended 31 December</span></p>
195     </td>
196     </tr>
197     <tr>
198     <td class="Normal">&nbsp; </td>
199     <td class="Normal">&nbsp; </td>
200     <td class="Normal">&nbsp; </td>
201     </tr>
202     <tr>
203     <td class="Normal">&nbsp; </td>
204     <td colspan=2 class="Normal">
205     <p align=center style='text-align:center'><b><span lang=HR
206     style='font-size:10.0pt;font-family:Arial'>PLIVA Group</span></b><span
207     lang=HR style='color:navy'></span></p>
208     </td>
209     </tr>
210     <tr>
211     <td class="Normal">&nbsp; </td>
212     <td class="Normal">&nbsp; </td>
213     <td class="Normal">&nbsp; </td>
214     </tr>
215     <tr>
216     <td class="Normal">&nbsp; </td>
217     <td u1:num class="Normal">
218     <p align=center style='text-align:center'><b><span lang=HR
219     style='font-size:10.0pt;font-family:Arial'>1998</span></b><span lang=HR
220     style='color:navy'></span></p>
221     </td>
222     <td u1:num class="Normal">
223     <p align=center style='text-align:center'><b><span lang=HR
224     style='font-size:10.0pt;font-family:Arial'>1997</span></b><span lang=HR
225     style='color:navy'></span></p>
226     </td>
227     </tr>
228     <tr>
229     <td class="Normal">&nbsp; </td>
230     <td class="Normal">
231     <p align=center style='text-align:center'><span lang=HR
232     style='font-size:10.0pt;font-family:Arial'>HRK '000</span><span lang=HR
233     style='color:navy'></span></p>
234     </td>
235     <td class="Normal">
236     <p align=center style='text-align:center'><span lang=HR
237     style='font-size:10.0pt;font-family:Arial'>HRK '000</span><span lang=HR
238     style='color:navy'></span></p>
239     </td>
240     </tr>
241     <tr>
242     <td class="Normal">&nbsp; </td>
243     <td class="Normal">&nbsp; </td>
244     <td class="Normal">&nbsp; </td>
245     </tr>
246     <tr>
247     <td class="Normal">
248     <p><b><span lang=HR style='font-size:10.0pt;font-family:Arial'>TURNOVER</span></b><span
249     lang=HR style='color:navy'></span></p>
250     </td>
251     <td u1:num="3575697.1" class="Normal">
252     <p align=right style='text-align:right'><b><span lang=HR
253     style='font-size:10.0pt;font-family:Arial'>3.575.697</span></b><span lang=HR
254     style='color:navy'></span></p>
255     </td>
256     <td u1:num="2846889"
257     u1:fmla="=C14+C20+C21" class="Normal">
258     <p align=right style='text-align:right'><b><span lang=HR
259     style='font-size:10.0pt;font-family:Arial'>2.846.889</span></b><span lang=HR
260     style='color:navy'></span></p>
261     </td>
262     </tr>
263     <tr>
264     <td class="Normal">&nbsp; </td>
265     <td class="Normal">&nbsp; </td>
266     <td class="Normal">&nbsp; </td>
267     </tr>
268     <tr>
269     <td class="Normal">
270     <p><b><span lang=HR style='font-size:10.0pt;font-family:Arial'>Sales</span></b><span
271     lang=HR style='color:navy'></span></p>
272     </td>
273     <td u1:num="2945390"
274     u1:fmla="=SUM(B15:B19)" class="Normal">
275     <p align=right style='text-align:right'><b><span lang=HR
276     style='font-size:10.0pt;font-family:Arial'>2.945.390</span></b><span lang=HR
277     style='color:navy'></span></p>
278     </td>
279     <td u1:num="2421580"
280     u1:fmla="=SUM(C15:C19)" class="Normal">
281     <p align=right style='text-align:right'><b><span lang=HR
282     style='font-size:10.0pt;font-family:Arial'>2.421.580</span></b><span lang=HR
283     style='color:navy'></span></p>
284     </td>
285     </tr>
286     <tr>
287     <td class="Normal">
288     <p><span> </span>- Pharmaceuticals<span lang=HR
289     style='color:navy'></span></p>
290     </td>
291     <td u1:num="1821916" class="Normal">
292     <p align=right style='text-align:right'><span lang=HR
293     style='font-size:10.0pt;font-family:Arial'>1.821.916</span><span lang=HR
294     style='color:navy'></span></p>
295     </td>
296     <td u1:num="1350986" class="Normal">
297     <p align=right style='text-align:right'><span lang=HR
298     style='font-size:10.0pt;font-family:Arial'>1.350.986</span><span lang=HR
299     style='color:navy'></span></p>
300     </td>
301     </tr>
302     <tr>
303     <td class="Normal">
304     <p><span> </span>- Bulk pharmaceuticals<span lang=HR
305     style='color:navy'></span></p>
306     </td>
307     <td u1:num="489287" class="Normal">
308     <p align=right style='text-align:right'><span lang=HR
309     style='font-size:10.0pt;font-family:Arial'>489.287</span><span lang=HR
310     style='color:navy'></span></p>
311     </td>
312     <td u1:num="460076" class="Normal">
313     <p align=right style='text-align:right'><span lang=HR
314     style='font-size:10.0pt;font-family:Arial'>460.076</span><span lang=HR
315     style='color:navy'></span></p>
316     </td>
317     </tr>
318     <tr>
319     <td class="Normal">
320     <p><span> </span>- Animal health and agrochemicals<span
321     lang=HR style='color:navy'></span></p>
322     </td>
323     <td u1:num="199167" class="Normal">
324     <p align=right style='text-align:right'><span lang=HR
325     style='font-size:10.0pt;font-family:Arial'>199.167</span><span lang=HR
326     style='color:navy'></span></p>
327     </td>
328     <td u1:num="174692" class="Normal">
329     <p align=right style='text-align:right'><span lang=HR
330     style='font-size:10.0pt;font-family:Arial'>174.692</span><span lang=HR
331     style='color:navy'></span></p>
332     </td>
333     </tr>
334     <tr>
335     <td class="Normal">
336     <p><span> </span>- Foodstuffs<span lang=HR
337     style='color:navy'></span></p>
338     </td>
339     <td u1:num="299597" class="Normal">
340     <p align=right style='text-align:right'><span lang=HR
341     style='font-size:10.0pt;font-family:Arial'>299.597</span><span lang=HR
342     style='color:navy'></span></p>
343     </td>
344     <td u1:num="314327" class="Normal">
345     <p align=right style='text-align:right'><span lang=HR
346     style='font-size:10.0pt;font-family:Arial'>314.327</span><span lang=HR
347     style='color:navy'></span></p>
348     </td>
349     </tr>
350     <tr>
351     <td class="Normal">
352     <p><span> </span>- Cosmetics and hygiene products<span
353     lang=HR style='color:navy'></span></p>
354     </td>
355     <td u1:num="135423" class="Normal">
356     <p align=right style='text-align:right'><span lang=HR
357     style='font-size:10.0pt;font-family:Arial'>135.423</span><span lang=HR
358     style='color:navy'></span></p>
359     </td>
360     <td u1:num="121499" class="Normal">
361     <p align=right style='text-align:right'><span lang=HR
362     style='font-size:10.0pt;font-family:Arial'>121.499</span><span lang=HR
363     style='color:navy'></span></p>
364     </td>
365     </tr>
366     <tr>
367     <td class="Normal">
368     <p><b><span lang=HR style='font-size:10.0pt;font-family:Arial'>Royalties</span></b><span
369     lang=HR style='color:navy'></span></p>
370     </td>
371     <td u1:num="566554" class="Normal">
372     <p align=right style='text-align:right'><b><span lang=HR
373     style='font-size:10.0pt;font-family:Arial'>566.554</span></b><span lang=HR
374     style='color:navy'></span></p>
375     </td>
376     <td u1:num="338671" class="Normal">
377     <p align=right style='text-align:right'><b><span lang=HR
378     style='font-size:10.0pt;font-family:Arial'>338.671</span></b><span lang=HR
379     style='color:navy'></span></p>
380     </td>
381     </tr>
382     <tr>
383     <td class="Normal">
384     <p><b><span lang=HR style='font-size:10.0pt;font-family:Arial'>Others</span></b><span
385     lang=HR style='color:navy'></span></p>
386     </td>
387     <td u1:num="63753" class="Normal">
388     <p align=right style='text-align:right'><b><span lang=HR
389     style='font-size:10.0pt;font-family:Arial'>63.753</span></b><span lang=HR
390     style='color:navy'></span></p>
391     </td>
392     <td u1:num="86638" class="Normal">
393     <p align=right style='text-align:right'><b><span lang=HR
394     style='font-size:10.0pt;font-family:Arial'>86.638</span></b><span lang=HR
395     style='color:navy'></span></p>
396     </td>
397     </tr>
398     <tr>
399     <td class="Normal">&nbsp; </td>
400     <td class="Normal">&nbsp; </td>
401     <td class="Normal">&nbsp; </td>
402     </tr>
403     <tr>
404     <td class="Normal">
405     <p><b><span lang=HR style='font-size:10.0pt;font-family:Arial'>Cost of sales</span></b><span lang=HR style='color:navy'></span></p>
406     </td>
407     <td u1:num="1241466" class="Normal">
408     <p align=right style='text-align:right'><b><span lang=HR
409     style='font-size:10.0pt;font-family:Arial'>1.241.466</span></b><span lang=HR
410     style='color:navy'></span></p>
411     </td>
412     <td u1:num="1034183" class="Normal">
413     <p align=right style='text-align:right'><b><span lang=HR
414     style='font-size:10.0pt;font-family:Arial'>1.034.183</span></b><span lang=HR
415     style='color:navy'></span></p>
416     </td>
417     </tr>
418     <tr>
419     <td class="Normal">&nbsp; </td>
420     <td class="Normal">&nbsp; </td>
421     <td class="Normal">&nbsp; </td>
422     </tr>
423     <tr>
424     <td class="Normal">
425     <p><b><span lang=HR style='font-size:10.0pt;font-family:Arial'>GROSS PROFIT</span></b><span lang=HR style='color:navy'></span></p>
426     </td>
427     <td u1:num="2334231.1"
428     u1:fmla="=B12-B23" class="Normal">
429     <p align=right style='text-align:right'><b><span lang=HR
430     style='font-size:10.0pt;font-family:Arial'>2.334.231</span></b><span lang=HR
431     style='color:navy'></span></p>
432     </td>
433     <td u1:num="1812706"
434     u1:fmla="=C12-C23" class="Normal">
435     <p align=right style='text-align:right'><b><span lang=HR
436     style='font-size:10.0pt;font-family:Arial'>1.812.706</span></b><span lang=HR
437     style='color:navy'></span></p>
438     </td>
439     </tr>
440     <tr>
441     <td class="Normal">&nbsp; </td>
442     <td class="Normal">&nbsp; </td>
443     <td class="Normal">&nbsp; </td>
444     </tr>
445     <tr>
446     <td class="Normal">
447     <p><span lang=HR style='font-size:10.0pt;font-family:Arial'>Selling, general
448     and administrative expenses</span><span lang=HR style='color:navy'></span></p>
449     </td>
450     <td u1:num="1073415"
451     u1:fmla="=1042322+31093" class="Normal">
452     <p align=right style='text-align:right'><span lang=HR
453     style='font-size:10.0pt;font-family:Arial'>1.073.415</span><span lang=HR
454     style='color:navy'></span></p>
455     </td>
456     <td u1:num="883471" class="Normal">
457     <p align=right style='text-align:right'><span lang=HR
458     style='font-size:10.0pt;font-family:Arial'>883.471</span><span lang=HR
459     style='color:navy'></span></p>
460     </td>
461     </tr>
462     <tr>
463     <td class="Normal">
464     <p><span lang=HR style='font-size:10.0pt;font-family:Arial'>Research and
465     development expenses</span><span lang=HR style=' color:navy'></span></p>
466     </td>
467     <td u1:num="150572" class="Normal">
468     <p align=right style='text-align:right'><span style='font-size:10.0pt;
469     font-family:Arial'>150.572</span></p>
470     </td>
471     <td u1:num="133930" class="Normal">
472     <p align=right style='text-align:right'><span style='font-size:10.0pt;
473     font-family:Arial'>133.930</span></p>
474     </td>
475     </tr>
476     <tr>
477     <td class="Normal">
478     <p><span lang=HR style='font-size:10.0pt;font-family:Arial'>Provisions</span><span
479     lang=HR style='color:navy'></span></p>
480     </td>
481     <td u1:num="30817" class="Normal">
482     <p align=right style='text-align:right'><span lang=HR
483     style='font-size:10.0pt;font-family:Arial'>30.817</span><span lang=HR
484     style='color:navy'></span></p>
485     </td>
486     <td u1:num="31963" class="Normal">
487     <p align=right style='text-align:right'><span lang=HR
488     style='font-size:10.0pt;font-family:Arial'>31.963</span><span lang=HR
489     style='color:navy'></span></p>
490     </td>
491     </tr>
492     <tr>
493     <td class="Normal">&nbsp; </td>
494     <td class="Normal">&nbsp; </td>
495     <td class="Normal">&nbsp; </td>
496     </tr>
497     <tr>
498     <td class="Normal">
499     <p><b><span lang=HR style='font-size:10.0pt;font-family:Arial'>EARNINGS
500     BEFORE INTEREST AND TAX</span></b><span lang=HR style='color:navy'></span></p>
501     </td>
502     <td u1:num="1079427.1"
503     u1:fmla="=B25-B27-B28-B29" class="Normal">
504     <p align=right style='text-align:right'><b><span lang=HR
505     style='font-size:10.0pt;font-family:Arial'>1.079.427</span></b><span lang=HR
506     style='color:navy'></span></p>
507     </td>
508     <td u1:num="763342"
509     u1:fmla="=C25-C27-C28-C29" class="Normal">
510     <p align=right style='text-align:right'><b><span lang=HR
511     style='font-size:10.0pt;font-family:Arial'>763.342</span></b><span lang=HR
512     style='color:navy'></span></p>
513     </td>
514     </tr>
515     <tr>
516     <td class="Normal">&nbsp; </td>
517     <td class="Normal">&nbsp; </td>
518     <td class="Normal">&nbsp; </td>
519     </tr>
520     <tr>
521     <td class="Normal">
522     <p><span lang=HR style='font-size:10.0pt;font-family:Arial'>Financial income/(expenses)</span><span lang=HR style=' color:navy'></span></p>
523     </td>
524     <td u1:num="9533" class="Normal">
525     <p align=right style='text-align:right'><span lang=HR
526     style='font-size:10.0pt;font-family:Arial'>9.533</span><span lang=HR
527     style='color:navy'></span></p>
528     </td>
529     <td u1:num="45095" class="Normal">
530     <p align=right style='text-align:right'><span lang=HR
531     style='font-size:10.0pt;font-family:Arial'>45.095</span><span lang=HR
532     style='color:navy'></span></p>
533     </td>
534     </tr>
535     <tr>
536     <td class="Normal">
537     <p><span lang=HR style='font-size:10.0pt;font-family:Arial'>Foreign exchange
538     currency gains/(losses)</span><span lang=HR style='color:navy'></span></p>
539     </td>
540     <td u1:num="4377" class="Normal">
541     <p align=right style='text-align:right'><span lang=HR
542     style='font-size:10.0pt;font-family:Arial'>4.377</span><span lang=HR
543     style='color:navy'></span></p>
544     </td>
545     <td u1:num="71401" class="Normal">
546     <p align=right style='text-align:right'><span lang=HR
547     style='font-size:10.0pt;font-family:Arial'>71.401</span><span lang=HR
548     style='color:navy'></span></p>
549     </td>
550     </tr>
551     <tr>
552     <td class="Normal">&nbsp; </td>
553     <td class="Normal">&nbsp; </td>
554     <td class="Normal">&nbsp; </td>
555     </tr>
556     <tr>
557     <td class="Normal">
558     <p><b><span lang=HR style='font-size:10.0pt;font-family:Arial'>PROFIT BEFORE
559     TAXES AND CONTRIBUTIONS</span></b><span lang=HR style='color:navy'></span></p>
560     </td>
561     <td u1:num="1093337.1"
562     u1:fmla="=B31+B33+B34" class="Normal">
563     <p align=right style='text-align:right'><b><span lang=HR
564     style='font-size:10.0pt;font-family:Arial'>1.093.337</span></b><span lang=HR
565     style='color:navy'></span></p>
566     </td>
567     <td u1:num="879838"
568     u1:fmla="=C31+C33+C34" class="Normal">
569     <p align=right style='text-align:right'><b><span lang=HR
570     style='font-size:10.0pt;font-family:Arial'>879.838</span></b><span lang=HR
571     style='color:navy'></span></p>
572     </td>
573     </tr>
574     <tr>
575     <td class="Normal">&nbsp; </td>
576     <td class="Normal">&nbsp; </td>
577     <td class="Normal">&nbsp; </td>
578     </tr>
579     <tr>
580     <td class="Normal">
581     <p><span lang=HR style='font-size:10.0pt;font-family:Arial'>Taxes and contributions</span><span lang=HR style=' color:navy'></span></p>
582     </td>
583     <td u1:num="386914" class="Normal">
584     <p align=right style='text-align:right'><span lang=HR
585     style='font-size:10.0pt;font-family:Arial'>386.914</span><span lang=HR
586     style='color:navy'></span></p>
587     </td>
588     <td u1:num="275519" class="Normal">
589     <p align=right style='text-align:right'><span style='font-size:10.0pt;
590     font-family:Arial'>275.519</span></p>
591     </td>
592     </tr>
593     <tr>
594     <td class="Normal">&nbsp; </td>
595     <td class="Normal">&nbsp; </td>
596     <td class="Normal">&nbsp; </td>
597     </tr>
598     <tr>
599     <td class="Normal">
600     <p><b><span lang=HR style='font-size:10.0pt;font-family:Arial'>PROFIT AFTER
601     TAX</span></b><span lang=HR style=' color:navy'></span></p>
602     </td>
603     <td u1:num="706423.1"
604     u1:fmla="=B36-B38" class="Normal">
605     <p align=right style='text-align:right'><b><span lang=HR
606     style='font-size:10.0pt;font-family:Arial'>706.423</span></b><span lang=HR
607     style='color:navy'></span></p>
608     </td>
609     <td u1:num="604319"
610     u1:fmla="=C36-C38" class="Normal">
611     <p align=right style='text-align:right'><b><span lang=HR
612     style='font-size:10.0pt;font-family:Arial'>604.319</span></b><span lang=HR
613     style='color:navy'></span></p>
614     </td>
615     </tr>
616     <tr>
617     <td class="Normal">&nbsp; </td>
618     <td class="Normal">&nbsp; </td>
619     <td class="Normal">&nbsp; </td>
620     </tr>
621     <tr>
622     <td class="Normal">
623     <p><span lang=HR style='font-size:10.0pt;font-family:Arial'>Minority interest</span><span lang=HR style='color:navy'></span></p>
624     </td>
625     <td u1:num="17576" class="Normal">
626     <p align=right style='text-align:right'><span lang=HR
627     style='font-size:10.0pt;font-family:Arial'>17.576</span><span lang=HR
628     style='color:navy'></span></p>
629     </td>
630     <td u1:num="1165" class="Normal">
631     <p align=right style='text-align:right'><span lang=HR
632     style='font-size:10.0pt;font-family:Arial'>1.165</span><span lang=HR
633     style='color:navy'></span></p>
634     </td>
635     </tr>
636     <tr>
637     <td class="Normal">&nbsp; </td>
638     <td class="Normal">&nbsp; </td>
639     <td class="Normal">&nbsp; </td>
640     </tr>
641     <tr>
642     <td class="Normal">
643     <p><b><span lang=HR style='font-size:10.0pt;font-family:Arial'>NET PROFIT
644     FROM ORDINARY ACTIVITIES</span></b><span lang=HR style='color:navy'></span></p>
645     </td>
646     <td u1:num="688847.1"
647     u1:fmla="=B40-B42" class="Normal">
648     <p align=right style='text-align:right'><b><span lang=HR
649     style='font-size:10.0pt;font-family:Arial'>688.847</span></b><span lang=HR
650     style='color:navy'></span></p>
651     </td>
652     <td u1:num="603154"
653     u1:fmla="=C40-C42" class="Normal">
654     <p align=right style='text-align:right'><b><span lang=HR
655     style='font-size:10.0pt;font-family:Arial'>603.154</span></b><span lang=HR
656     style='color:navy'></span></p>
657     </td>
658     </tr>
659     <tr>
660     <td class="Normal">&nbsp; </td>
661     <td class="Normal">&nbsp; </td>
662     <td class="Normal">&nbsp; </td>
663     </tr>
664     <tr>
665     <td class="Normal">&nbsp; </td>
666     <td class="Normal">&nbsp; </td>
667     <td class="Normal">&nbsp; </td>
668     </tr>
669     <tr>
670     <td class="Normal">&nbsp; </td>
671     <td class="Normal">&nbsp; </td>
672     <td class="Normal">&nbsp; </td>
673     </tr>
674     <tr>
675     <td class="Normal">&nbsp; </td>
676     <td class="Normal">
677     <p align=right style='text-align:right'><b><u><span lang=HR
678     style='font-size:10.0pt;font-family:Arial'>HRK</span></u></b><span lang=HR
679     style='color:navy'></span></p>
680     </td>
681     <td class="Normal">
682     <p align=right style='text-align:right'><b><u><span style='font-size:10.0pt;
683     font-family:Arial'>HRK</span></u></b></p>
684     </td>
685     </tr>
686     <tr>
687     <td class="Normal">
688     <p><span lang=HR style='font-size:10.0pt;font-family:Arial'>Earnings per
689     share</span><span lang=HR style='color:navy'></span></p>
690     </td>
691     <td u1:num="34.57" class="Normal">
692     <p align=right style='text-align:right'><span lang=HR
693     style='font-size:10.0pt;font-family:Arial'>34,57</span><span lang=HR
694     style='color:navy'></span></p>
695     </td>
696     <td u1:num="29.97" class="Normal">
697     <p align=right style='text-align:right'><span lang=HR
698     style='font-size:10.0pt;font-family:Arial'>29,97</span><span lang=HR
699     style='color:navy'></span></p>
700     </td>
701     </tr>
702     <tr>
703     <td class="Normal">
704     <p><span lang=HR style='font-size:10.0pt;font-family:Arial'>Dividend per
705     share</span><span lang=HR style='color:navy'></span></p>
706     </td>
707     <td u1:num="7.35" class="Normal">
708     <p align=right style='text-align:right'><span lang=HR
709     style='font-size:10.0pt;font-family:Arial'>7,35</span><span lang=HR
710     style='color:navy'></span></p>
711     </td>
712     <td u1:num="7" class="Normal">
713     <p align=right style='text-align:right'><span lang=HR
714     style='font-size:10.0pt;font-family:Arial'>7,00</span><span lang=HR
715     style='color:navy'></span></p>
716     </td>
717     </tr>
718     <tr>
719     <td class="Normal">&nbsp; </td>
720     <td class="Normal">&nbsp; </td>
721     <td class="Normal">&nbsp; </td>
722     </tr>
723     <tr>
724     <td colspan=3 class="Normal">
725     <p align=center style='text-align:center'><b><span lang=HR
726     style='font-family:Arial'>Consolidated Balance Sheet</span></b><span lang=HR
727     style='color:navy'></span></p>
728     </td>
729     </tr>
730     <tr>
731     <td colspan=3 class="Normal">
732     <p align=center style='text-align:center'><span lang=HR
733     style='font-size:10.0pt;font-family:Arial'>(In accordance with IAS)</span><span
734     lang=HR style='color:navy'></span></p>
735     </td>
736     </tr>
737     <tr>
738     <td class="Normal">&nbsp; </td>
739     <td class="Normal">&nbsp; </td>
740     <td class="Normal">&nbsp; </td>
741     </tr>
742     <tr>
743     <td class="Normal">&nbsp; </td>
744     <td class="Normal">&nbsp; </td>
745     <td class="Normal">&nbsp; </td>
746     </tr>
747     <tr>
748     <td colspan=3 class="Normal">
749     <p align=right style='text-align:right'><span lang=HR
750     style='font-size:10.0pt;font-family:Arial'>For the years ended 31 December</span><span
751     lang=HR style='color:navy'></span></p>
752     </td>
753     </tr>
754     <tr>
755     <td class="Normal">&nbsp; </td>
756     <td class="Normal">&nbsp; </td>
757     <td class="Normal">&nbsp; </td>
758     </tr>
759     <tr>
760     <td class="Normal">&nbsp; </td>
761     <td colspan=2 class="Normal">
762     <p align=center style='text-align:center'><b><span lang=HR
763     style='font-size:10.0pt;font-family:Arial'>PLIVA Group</span></b><span
764     lang=HR style='color:navy'></span></p>
765     </td>
766     </tr>
767     <tr>
768     <td class="Normal">&nbsp; </td>
769     <td class="Normal">&nbsp; </td>
770     <td class="Normal">&nbsp; </td>
771     </tr>
772     <tr>
773     <td class="Normal">&nbsp; </td>
774     <td u1:num class="Normal">
775     <p align=center style='text-align:center'><b><span lang=HR
776     style='font-size:10.0pt;font-family:Arial'>1998</span></b><span lang=HR
777     style='color:navy'></span></p>
778     </td>
779     <td u1:num class="Normal">
780     <p align=center style='text-align:center'><b><span lang=HR
781     style='font-size:10.0pt;font-family:Arial'>1997</span></b><span lang=HR
782     style='color:navy'></span></p>
783     </td>
784     </tr>
785     <tr>
786     <td class="Normal">&nbsp; </td>
787     <td class="Normal">
788     <p align=center style='text-align:center'><span lang=HR
789     style='font-size:10.0pt;font-family:Arial'>HRK '000</span><span lang=HR
790     style='color:navy'></span></p>
791     </td>
792     <td class="Normal">
793     <p align=center style='text-align:center'><span lang=HR
794     style='font-size:10.0pt;font-family:Arial'>HRK '000</span><span lang=HR
795     style='color:navy'></span></p>
796     </td>
797     </tr>
798     <tr>
799     <td class="Normal">
800     <p><b><span lang=HR style='font-size:10.0pt;font-family:Arial'>ASSETS</span></b><span
801     lang=HR style='color:navy'></span></p>
802     </td>
803     <td class="Normal">&nbsp; </td>
804     <td class="Normal">&nbsp; </td>
805     </tr>
806     <tr>
807     <td class="Normal">&nbsp; </td>
808     <td class="Normal">&nbsp; </td>
809     <td class="Normal">&nbsp; </td>
810     </tr>
811     <tr>
812     <td class="Normal">
813     <p><b><span lang=HR style='font-size:10.0pt;font-family:Arial'>Non-current
814     assets</span></b><span lang=HR style='color:navy'></span></p>
815     </td>
816     <td class="Normal">&nbsp; </td>
817     <td class="Normal">&nbsp; </td>
818     </tr>
819     <tr>
820     <td class="Normal">
821     <p><span lang=HR style='font-size:10.0pt;font-family:Arial'>Goodwill</span><span
822     lang=HR style='color:navy'></span></p>
823     </td>
824     <td u1:num="430277" class="Normal">
825     <p align=right style='text-align:right'><span lang=HR
826     style='font-size:10.0pt;font-family:Arial'>430.277</span><span lang=HR
827     style='color:navy'></span></p>
828     </td>
829     <td u1:num="447531" class="Normal">
830     <p align=right style='text-align:right'><span lang=HR
831     style='font-size:10.0pt;font-family:Arial'>447.531</span><span lang=HR
832     style='color:navy'></span></p>
833     </td>
834     </tr>
835     <tr>
836     <td class="Normal">
837     <p><span lang=HR style='font-size:10.0pt;font-family:Arial'>Investment</span><span
838     lang=HR style='color:navy'></span></p>
839     </td>
840     <td u1:num="245299" class="Normal">
841     <p align=right style='text-align:right'><span lang=HR
842     style='font-size:10.0pt;font-family:Arial'>245.299</span><span lang=HR
843     style='color:navy'></span></p>
844     </td>
845     <td u1:num="135048" class="Normal">
846     <p align=right style='text-align:right'><span lang=HR
847     style='font-size:10.0pt;font-family:Arial'>135.048</span><span lang=HR
848     style='color:navy'></span></p>
849     </td>
850     </tr>
851     <tr>
852     <td class="Normal">
853     <p><span lang=HR style='font-size:10.0pt;font-family:Arial'>Long-term receivables</span><span lang=HR style='color:navy'></span></p>
854     </td>
855     <td u1:num="236615" class="Normal">
856     <p align=right style='text-align:right'><span lang=HR
857     style='font-size:10.0pt;font-family:Arial'>236.615</span><span lang=HR
858     style='color:navy'></span></p>
859     </td>
860     <td u1:num="65652" class="Normal">
861     <p align=right style='text-align:right'><span lang=HR
862     style='font-size:10.0pt;font-family:Arial'>65.652</span><span lang=HR
863     style='color:navy'></span></p>
864     </td>
865     </tr>
866     <tr>
867     <td class="Normal">
868     <p><span lang=HR style='font-size:10.0pt;font-family:Arial'>Tangible fixed
869     assets</span><span lang=HR style='color:navy'></span></p>
870     </td>
871     <td u1:num="2252226" class="Normal">
872     <p align=right style='text-align:right'><span lang=HR
873     style='font-size:10.0pt;font-family:Arial'>2.252.226</span><span lang=HR
874     style='color:navy'></span></p>
875     </td>
876     <td u1:num="1948934" class="Normal">
877     <p align=right style='text-align:right'><span lang=HR
878     style='font-size:10.0pt;font-family:Arial'>1.948.934</span><span lang=HR
879     style='color:navy'></span></p>
880     </td>
881     </tr>
882     <tr>
883     <td class="Normal">
884     <p><b><span lang=HR style='font-size:10.0pt;font-family:Arial'>Total non-current
885     assets</span></b><span lang=HR style=' color:navy'></span></p>
886     </td>
887     <td u1:num="3164417"
888     u1:fmla="=SUM(B65:B68)" class="Normal">
889     <p align=right style='text-align:right'><b><span lang=HR
890     style='font-size:10.0pt;font-family:Arial'>3.164.417</span></b><span lang=HR
891     style='color:navy'></span></p>
892     </td>
893     <td u1:num="2597165"
894     u1:fmla="=SUM(C65:C68)" class="Normal">
895     <p align=right style='text-align:right'><b><span lang=HR
896     style='font-size:10.0pt;font-family:Arial'>2.597.165</span></b><span lang=HR
897     style='color:navy'></span></p>
898     </td>
899     </tr>
900     <tr>
901     <td class="Normal">&nbsp; </td>
902     <td class="Normal">&nbsp; </td>
903     <td class="Normal">&nbsp; </td>
904     </tr>
905     <tr>
906     <td class="Normal">
907     <p><b><span lang=HR style='font-size:10.0pt;font-family:Arial'>Current assets</span></b><span lang=HR style='color:navy'></span></p>
908     </td>
909     <td class="Normal">&nbsp; </td>
910     <td class="Normal">&nbsp; </td>
911     </tr>
912     <tr>
913     <td class="Normal">
914     <p><span lang=HR style='font-size:10.0pt;font-family:Arial'>Inventories</span><span
915     lang=HR style='color:navy'></span></p>
916     </td>
917     <td u1:num="592045" class="Normal">
918     <p align=right style='text-align:right'><span lang=HR
919     style='font-size:10.0pt;font-family:Arial'>592.045</span><span lang=HR
920     style='color:navy'></span></p>
921     </td>
922     <td u1:num="525194" class="Normal">
923     <p align=right style='text-align:right'><span lang=HR
924     style='font-size:10.0pt;font-family:Arial'>525.194</span><span lang=HR
925     style='color:navy'></span></p>
926     </td>
927     </tr>
928     <tr>
929     <td class="Normal">
930     <p><span lang=HR style='font-size:10.0pt;font-family:Arial'>Marketable securities</span><span lang=HR style='color:navy'></span></p>
931     </td>
932     <td u1:num="195974" class="Normal">
933     <p align=right style='text-align:right'><span lang=HR
934     style='font-size:10.0pt;font-family:Arial'>195.974</span><span lang=HR
935     style='color:navy'></span></p>
936     </td>
937     <td u1:num class="Normal">
938     <p align=right style='text-align:right'><span lang=HR
939     style='font-size:10.0pt;font-family:Arial'>0</span><span lang=HR
940     style='color:navy'></span></p>
941     </td>
942     </tr>
943     <tr>
944     <td class="Normal">
945     <p><span lang=HR style='font-size:10.0pt;font-family:Arial'>Accounts receivable</span><span lang=HR style='color:navy'></span></p>
946     </td>
947     <td u1:num="1146328" class="Normal">
948     <p align=right style='text-align:right'><span lang=HR
949     style='font-size:10.0pt;font-family:Arial'>1.146.328</span><span lang=HR
950     style='color:navy'></span></p>
951     </td>
952     <td u1:num="818569" class="Normal">
953     <p align=right style='text-align:right'><span lang=HR
954     style='font-size:10.0pt;font-family:Arial'>818.569</span><span lang=HR
955     style='color:navy'></span></p>
956     </td>
957     </tr>
958     <tr>
959     <td class="Normal">
960     <p><span lang=HR style='font-size:10.0pt;font-family:Arial'>Short term loans</span><span lang=HR style='color:navy'></span></p>
961     </td>
962     <td u1:num="83456" class="Normal">
963     <p align=right style='text-align:right'><span lang=HR
964     style='font-size:10.0pt;font-family:Arial'>83.456</span><span lang=HR
965     style='color:navy'></span></p>
966     </td>
967     <td u1:num="52098" class="Normal">
968     <p align=right style='text-align:right'><span lang=HR
969     style='font-size:10.0pt;font-family:Arial'>52.098</span><span lang=HR
970     style='color:navy'></span></p>
971     </td>
972     </tr>
973     <tr>
974     <td class="Normal">
975     <p><span lang=HR style='font-size:10.0pt;font-family:Arial'>Cash and cash
976     equivalents</span><span lang=HR style=' color:navy'></span></p>
977     </td>
978     <td u1:num="164054" class="Normal">
979     <p align=right style='text-align:right'><span lang=HR
980     style='font-size:10.0pt;font-family:Arial'>164.054</span><span lang=HR
981     style='color:navy'></span></p>
982     </td>
983     <td u1:num="173166" class="Normal">
984     <p align=right style='text-align:right'><span lang=HR
985     style='font-size:10.0pt;font-family:Arial'>173.166</span><span lang=HR
986     style='color:navy'></span></p>
987     </td>
988     </tr>
989     <tr>
990     <td class="Normal">
991     <p><b><span lang=HR style='font-size:10.0pt;font-family:Arial'>Total current
992     assets</span></b><span lang=HR style=' color:navy'></span></p>
993     </td>
994     <td u1:num="2181857"
995     u1:fmla="=SUM(B72:B76)" class="Normal">
996     <p align=right style='text-align:right'><b><span lang=HR
997     style='font-size:10.0pt;font-family:Arial'>2.181.857</span></b><span lang=HR
998     style='color:navy'></span></p>
999     </td>
1000     <td u1:num="1569027"
1001     u1:fmla="=SUM(C72:C76)" class="Normal">
1002     <p align=right style='text-align:right'><b><span lang=HR
1003     style='font-size:10.0pt;font-family:Arial'>1.569.027</span></b><span lang=HR
1004     style='color:navy'></span></p>
1005     </td>
1006     </tr>
1007     <tr>
1008     <td class="Normal">&nbsp; </td>
1009     <td class="Normal">&nbsp; </td>
1010     <td class="Normal">&nbsp; </td>
1011     </tr>
1012     <tr>
1013     <td class="Normal">
1014     <p><b><span lang=HR style='font-size:10.0pt;font-family:Arial'>TOTAL ASSETS</span></b><span lang=HR style='color:navy'></span></p>
1015     </td>
1016     <td u1:num="5346274"
1017     u1:fmla="=B69+B77" class="Normal">
1018     <p align=right style='text-align:right'><b><span lang=HR
1019     style='font-size:10.0pt;font-family:Arial'>5.346.274</span></b><span lang=HR
1020     style='color:navy'></span></p>
1021     </td>
1022     <td u1:num="4166192"
1023     u1:fmla="=C69+C77" class="Normal">
1024     <p align=right style='text-align:right'><b><span lang=HR
1025     style='font-size:10.0pt;font-family:Arial'>4.166.192</span></b><span lang=HR
1026     style='color:navy'></span></p>
1027     </td>
1028     </tr>
1029     <tr>
1030     <td class="Normal">&nbsp; </td>
1031     <td class="Normal">&nbsp; </td>
1032     <td class="Normal">&nbsp; </td>
1033     </tr>
1034     <tr>
1035     <td class="Normal">
1036     <p><b><span lang=HR style='font-size:10.0pt;font-family:Arial'>Long-term
1037     liabilities</span></b><span lang=HR style=' color:navy'></span></p>
1038     </td>
1039     <td class="Normal">&nbsp; </td>
1040     <td class="Normal">&nbsp; </td>
1041     </tr>
1042     <tr>
1043     <td class="Normal">
1044     <p><span lang=HR style='font-size:10.0pt;font-family:Arial'>Long-term debt</span><span lang=HR style='color:navy'></span></p>
1045     </td>
1046     <td u1:num="760800" class="Normal">
1047     <p align=right style='text-align:right'><span lang=HR
1048     style='font-size:10.0pt;font-family:Arial'>760.800</span><span lang=HR
1049     style='color:navy'></span></p>
1050     </td>
1051     <td u1:num="208130" class="Normal">
1052     <p align=right style='text-align:right'><span lang=HR
1053     style='font-size:10.0pt;font-family:Arial'>208.130</span><span lang=HR
1054     style='color:navy'></span></p>
1055     </td>
1056     </tr>
1057     <tr>
1058     <td class="Normal">
1059     <p><span lang=HR style='font-size:10.0pt;font-family:Arial'>Provisions for
1060     deferred taxes</span><span lang=HR style=' color:navy'></span></p>
1061     </td>
1062     <td u1:num="22253" class="Normal">
1063     <p align=right style='text-align:right'><span lang=HR
1064     style='font-size:10.0pt;font-family:Arial'>22.253</span><span lang=HR
1065     style='color:navy'></span></p>
1066     </td>
1067     <td u1:num="14502" class="Normal">
1068     <p align=right style='text-align:right'><span lang=HR
1069     style='font-size:10.0pt;font-family:Arial'>14.502</span><span lang=HR
1070     style='color:navy'></span></p>
1071     </td>
1072     </tr>
1073     <tr>
1074     <td class="Normal">
1075     <p><b><span lang=HR style='font-size:10.0pt;font-family:Arial'>Total long-term
1076     liabilities</span></b><span lang=HR style=' color:navy'></span></p>
1077     </td>
1078     <td u1:num="783053" class="Normal">
1079     <p align=right style='text-align:right'><b><span lang=HR
1080     style='font-size:10.0pt;font-family:Arial'>783.053</span></b><span lang=HR
1081     style='color:navy'></span></p>
1082     </td>
1083     <td u1:num="222632" class="Normal">
1084     <p align=right style='text-align:right'><b><span lang=HR
1085     style='font-size:10.0pt;font-family:Arial'>222.632</span></b><span lang=HR
1086     style='color:navy'></span></p>
1087     </td>
1088     </tr>
1089     <tr>
1090     <td class="Normal">&nbsp; </td>
1091     <td class="Normal">&nbsp; </td>
1092     <td class="Normal">&nbsp; </td>
1093     </tr>
1094     <tr>
1095     <td class="Normal">
1096     <p><b><span lang=HR style='font-size:10.0pt;font-family:Arial'>Current liabilities</span></b><span lang=HR style=' color:navy'></span></p>
1097     </td>
1098     <td class="Normal">&nbsp; </td>
1099     <td class="Normal">&nbsp; </td>
1100     </tr>
1101     <tr>
1102     <td class="Normal">
1103     <p><span lang=HR style='font-size:10.0pt;font-family:Arial'>Accounts payable</span><span lang=HR style='color:navy'></span></p>
1104     </td>
1105     <td u1:num="455771" class="Normal">
1106     <p align=right style='text-align:right'><span lang=HR
1107     style='font-size:10.0pt;font-family:Arial'>455.771</span><span lang=HR
1108     style='color:navy'></span></p>
1109     </td>
1110     <td u1:num="363671" class="Normal">
1111     <p align=right style='text-align:right'><span lang=HR
1112     style='font-size:10.0pt;font-family:Arial'>363.671</span><span lang=HR
1113     style='color:navy'></span></p>
1114     </td>
1115     </tr>
1116     <tr>
1117     <td class="Normal">
1118     <p><span lang=HR style='font-size:10.0pt;font-family:Arial'>Short-term loans</span><span lang=HR style='color:navy'></span></p>
1119     </td>
1120     <td u1:num="200335" class="Normal">
1121     <p align=right style='text-align:right'><span lang=HR
1122     style='font-size:10.0pt;font-family:Arial'>200.335</span><span lang=HR
1123     style='color:navy'></span></p>
1124     </td>
1125     <td u1:num class="Normal">
1126     <p align=right style='text-align:right'><span lang=HR
1127     style='font-size:10.0pt;font-family:Arial'>21</span><span lang=HR
1128     style='color:navy'></span></p>
1129     </td>
1130     </tr>
1131     <tr>
1132     <td class="Normal">
1133     <p><span lang=HR style='font-size:10.0pt;font-family:Arial'>Commercial papers
1134     issued</span><span lang=HR style=' color:navy'></span></p>
1135     </td>
1136     <td u1:num="81988" class="Normal">
1137     <p align=right style='text-align:right'><span lang=HR
1138     style='font-size:10.0pt;font-family:Arial'>81.988</span><span lang=HR
1139     style='color:navy'></span></p>
1140     </td>
1141     <td u1:num class="Normal">
1142     <p align=right style='text-align:right'><span lang=HR
1143     style='font-size:10.0pt;font-family:Arial'>0</span><span lang=HR
1144     style='color:navy'></span></p>
1145     </td>
1146     </tr>
1147     <tr>
1148     <td class="Normal">
1149     <p><span lang=HR style='font-size:10.0pt;font-family:Arial'>Corporation
1150     tax</span><span lang=HR style='color:navy'></span></p>
1151     </td>
1152     <td u1:num="6448" class="Normal">
1153     <p align=right style='text-align:right'><span lang=HR
1154     style='font-size:10.0pt;font-family:Arial'>6.448</span><span lang=HR
1155     style='color:navy'></span></p>
1156     </td>
1157     <td u1:num="134741" class="Normal">
1158     <p align=right style='text-align:right'><span lang=HR
1159     style='font-size:10.0pt;font-family:Arial'>134.741</span><span lang=HR
1160     style='color:navy'></span></p>
1161     </td>
1162     </tr>
1163     <tr>
1164     <td class="Normal">
1165     <p><span lang=HR style='font-size:10.0pt;font-family:Arial'>Dividends payable</span><span lang=HR style='color:navy'></span></p>
1166     </td>
1167     <td u1:num class="Normal">
1168     <p align=right style='text-align:right'><span lang=HR
1169     style='font-size:10.0pt;font-family:Arial'>16</span><span lang=HR
1170     style='color:navy'></span></p>
1171     </td>
1172     <td u1:num class="Normal">
1173     <p align=right style='text-align:right'><span lang=HR
1174     style='font-size:10.0pt;font-family:Arial'>18</span><span lang=HR
1175     style='color:navy'></span></p>
1176     </td>
1177     </tr>
1178     <tr>
1179     <td class="Normal">
1180     <p><span lang=HR style='font-size:10.0pt;font-family:Arial'>Current portion
1181     of long-term debt</span><span lang=HR style=' color:navy'></span></p>
1182     </td>
1183     <td u1:num="51612" class="Normal">
1184     <p align=right style='text-align:right'><span lang=HR
1185     style='font-size:10.0pt;font-family:Arial'>51.612</span><span lang=HR
1186     style='color:navy'></span></p>
1187     </td>
1188     <td u1:num="73680" class="Normal">
1189     <p align=right style='text-align:right'><span lang=HR
1190     style='font-size:10.0pt;font-family:Arial'>73.680</span><span lang=HR
1191     style='color:navy'></span></p>
1192     </td>
1193     </tr>
1194     <tr>
1195     <td class="Normal">
1196     <p><b><span lang=HR style='font-size:10.0pt;font-family:Arial'>Total current
1197     liabilities</span></b><span lang=HR style=' color:navy'></span></p>
1198     </td>
1199     <td u1:num="796170"
1200     u1:fmla="=SUM(B87:B92)" class="Normal">
1201     <p align=right style='text-align:right'><b><span lang=HR
1202     style='font-size:10.0pt;font-family:Arial'>796.170</span></b><span lang=HR
1203     style='color:navy'></span></p>
1204     </td>
1205     <td u1:num="572131"
1206     u1:fmla="=SUM(C87:C92)" class="Normal">
1207     <p align=right style='text-align:right'><b><span lang=HR
1208     style='font-size:10.0pt;font-family:Arial'>572.131</span></b><span lang=HR
1209     style='color:navy'></span></p>
1210     </td>
1211     </tr>
1212     <tr>
1213     <td class="Normal">&nbsp; </td>
1214     <td class="Normal">&nbsp; </td>
1215     <td class="Normal">&nbsp; </td>
1216     </tr>
1217     <tr>
1218     <td class="Normal">
1219     <p><b><span lang=HR style='font-size:10.0pt;font-family:Arial'>Total liabilities</span></b><span lang=HR style=' color:navy'></span></p>
1220     </td>
1221     <td u1:num="1579223"
1222     u1:fmla="=B84+B93" class="Normal">
1223     <p align=right style='text-align:right'><b><span lang=HR
1224     style='font-size:10.0pt;font-family:Arial'>1.579.223</span></b><span lang=HR
1225     style='color:navy'></span></p>
1226     </td>
1227     <td u1:num="794763"
1228     u1:fmla="=C84+C93" class="Normal">
1229     <p align=right style='text-align:right'><b><span lang=HR
1230     style='font-size:10.0pt;font-family:Arial'>794.763</span></b><span lang=HR
1231     style='color:navy'></span></p>
1232     </td>
1233     </tr>
1234     <tr>
1235     <td class="Normal">&nbsp; </td>
1236     <td class="Normal">&nbsp; </td>
1237     <td class="Normal">&nbsp; </td>
1238     </tr>
1239     <tr>
1240     <td class="Normal">
1241     <p><b><span lang=HR style='font-size:10.0pt;font-family:Arial'>Shareholders'
1242     equity</span></b><span lang=HR style='color:navy'></span></p>
1243     </td>
1244     <td class="Normal">&nbsp; </td>
1245     <td class="Normal">&nbsp; </td>
1246     </tr>
1247     <tr>
1248     <td class="Normal">
1249     <p><span lang=HR style='font-size:10.0pt;font-family:Arial'>Share capital</span><span lang=HR style='color:navy'></span></p>
1250     </td>
1251     <td u1:num="2020940" class="Normal">
1252     <p align=right style='text-align:right'><span lang=HR
1253     style='font-size:10.0pt;font-family:Arial'>2.020.940</span><span lang=HR
1254     style='color:navy'></span></p>
1255     </td>
1256     <td u1:num="2020940" class="Normal">
1257     <p align=right style='text-align:right'><span lang=HR
1258     style='font-size:10.0pt;font-family:Arial'>2.020.940</span><span lang=HR
1259     style='color:navy'></span></p>
1260     </td>
1261     </tr>
1262     <tr>
1263     <td class="Normal">
1264     <p><span lang=HR style='font-size:10.0pt;font-family:Arial'>Share premium</span><span lang=HR style='color:navy'></span></p>
1265     </td>
1266     <td u1:num="23516" class="Normal">
1267     <p align=right style='text-align:right'><span lang=HR
1268     style='font-size:10.0pt;font-family:Arial'>23.516</span><span lang=HR
1269     style='color:navy'></span></p>
1270     </td>
1271     <td u1:num class="Normal">
1272     <p align=right style='text-align:right'><span lang=HR
1273     style='font-size:10.0pt;font-family:Arial'>802</span><span lang=HR
1274     style='color:navy'></span></p>
1275     </td>
1276     </tr>
1277     <tr>
1278     <td class="Normal">
1279     <p><span lang=HR style='font-size:10.0pt;font-family:Arial'>Treasury shares</span><span lang=HR style='color:navy'></span></p>
1280     </td>
1281     <td u1:num="-55839" class="Normal">
1282     <p align=right style='text-align:right'><span lang=HR
1283     style='font-size:10.0pt;font-family:Arial;color:red'>-55.839</span><span
1284     lang=HR style='color:navy'></span></p>
1285     </td>
1286     <td u1:num="-14255" class="Normal">
1287     <p align=right style='text-align:right'><span lang=HR
1288     style='font-size:10.0pt;font-family:Arial;color:red'>-14.255</span><span
1289     lang=HR style='color:navy'></span></p>
1290     </td>
1291     </tr>
1292     <tr>
1293     <td class="Normal">
1294     <p><span lang=HR style='font-size:10.0pt;font-family:Arial'>Capital reserve</span><span lang=HR style='color:navy'></span></p>
1295     </td>
1296     <td u1:num="60762" class="Normal">
1297     <p align=right style='text-align:right'><span lang=HR
1298     style='font-size:10.0pt;font-family:Arial'>60.762</span><span lang=HR
1299     style='color:navy'></span></p>
1300     </td>
1301     <td u1:num="60762" class="Normal">
1302     <p align=right style='text-align:right'><span lang=HR
1303     style='font-size:10.0pt;font-family:Arial'>60.762</span><span lang=HR
1304     style='color:navy'></span></p>
1305     </td>
1306     </tr>
1307     <tr>
1308     <td class="Normal">
1309     <p><span lang=HR style='font-size:10.0pt;font-family:Arial'>Legal reserve</span><span lang=HR style='color:navy'></span></p>
1310     </td>
1311     <td u1:num="98722" class="Normal">
1312     <p align=right style='text-align:right'><span lang=HR
1313     style='font-size:10.0pt;font-family:Arial'>98.722</span><span lang=HR
1314     style='color:navy'></span></p>
1315     </td>
1316     <td u1:num="66848" class="Normal">
1317     <p align=right style='text-align:right'><span lang=HR
1318     style='font-size:10.0pt;font-family:Arial'>66.848</span><span lang=HR
1319     style='color:navy'></span></p>
1320     </td>
1321     </tr>
1322     <tr>
1323     <td class="Normal">
1324     <p><span lang=HR style='font-size:10.0pt;font-family:Arial'>Foreign currency
1325     translation reserve</span><span lang=HR style='color:navy'></span></p>
1326     </td>
1327     <td u1:num="-8128" class="Normal">
1328     <p align=right style='text-align:right'><span lang=HR
1329     style='font-size:10.0pt;font-family:Arial;color:red'>-8.128</span><span
1330     lang=HR style='color:navy'></span></p>
1331     </td>
1332     <td u1:num="-3596" class="Normal">
1333     <p align=right style='text-align:right'><span lang=HR
1334     style='font-size:10.0pt;font-family:Arial;color:red'>-3.596</span><span
1335     lang=HR style='color:navy'></span></p>
1336     </td>
1337     </tr>
1338     <tr>
1339     <td class="Normal">
1340     <p><span lang=HR style='font-size:10.0pt;font-family:Arial'>Retained earnings</span><span lang=HR style='color:navy'></span></p>
1341     </td>
1342     <td u1:num="1514638" class="Normal">
1343     <p align=right style='text-align:right'><span lang=HR
1344     style='font-size:10.0pt;font-family:Arial'>1.514.638</span><span lang=HR
1345     style='color:navy'></span></p>
1346     </td>
1347     <td u1:num="1157219" class="Normal">
1348     <p align=right style='text-align:right'><span lang=HR
1349     style='font-size:10.0pt;font-family:Arial'>1.157.219</span><span lang=HR
1350     style='color:navy'></span></p>
1351     </td>
1352     </tr>
1353     <tr>
1354     <td class="Normal">
1355     <p><b><span lang=HR style='font-size:10.0pt;font-family:Arial'>Total shareholders'
1356     equity</span></b><span lang=HR style=' color:navy'></span></p>
1357     </td>
1358     <td u1:num="3654611"
1359     u1:fmla="=SUM(B98:B104)" class="Normal">
1360     <p align=right style='text-align:right'><b><span lang=HR
1361     style='font-size:10.0pt;font-family:Arial'>3.654.611</span></b><span lang=HR
1362     style='color:navy'></span></p>
1363     </td>
1364     <td u1:num="3288720"
1365     u1:fmla="=SUM(C98:C104)" class="Normal">
1366     <p align=right style='text-align:right'><b><span lang=HR
1367     style='font-size:10.0pt;font-family:Arial'>3.288.720</span></b><span lang=HR
1368     style='color:navy'></span></p>
1369     </td>
1370     </tr>
1371     <tr>
1372     <td class="Normal">&nbsp; </td>
1373     <td u1:num="0" class="Normal">&nbsp; </td>
1374     <td class="Normal">&nbsp; </td>
1375     </tr>
1376     <tr>
1377     <td class="Normal">
1378     <p><b><span lang=HR style='font-size:10.0pt;font-family:Arial'>Minority
1379     interests</span></b><span lang=HR style=' color:navy'></span></p>
1380     </td>
1381     <td u1:num="112440" class="Normal">
1382     <p align=right style='text-align:right'><b><span lang=HR
1383     style='font-size:10.0pt;font-family:Arial'>112.440</span></b><span lang=HR
1384     style='color:navy'></span></p>
1385     </td>
1386     <td u1:num="82709" class="Normal">
1387     <p align=right style='text-align:right'><b><span lang=HR
1388     style='font-size:10.0pt;font-family:Arial'>82.709</span></b><span lang=HR
1389     style='color:navy'></span></p>
1390     </td>
1391     </tr>
1392     <tr>
1393     <td class="Normal">&nbsp; </td>
1394     <td class="Normal">&nbsp; </td>
1395     <td class="Normal">&nbsp; </td>
1396     </tr>
1397     <tr>
1398     <td class="Normal">
1399     <p><b><span lang=HR style='font-size:10.0pt;font-family:Arial'>TOTAL LIABILITIES
1400     AND SHAREHOLDERS' EQUITY</span></b><span lang=HR
1401     style='color:navy'></span></p>
1402     </td>
1403     <td u1:num="5346274"
1404     u1:fmla="=B95+B105+B107" class="Normal">
1405     <p align=right style='text-align:right'><b><span lang=HR
1406     style='font-size:10.0pt;font-family:Arial'>5.346.274</span></b><span lang=HR
1407     style='color:navy'></span></p>
1408     </td>
1409     <td u1:num="4166192"
1410     u1:fmla="=C105+C107+C95" class="Normal">
1411     <p align=right style='text-align:right'><b><span lang=HR
1412     style='font-size:10.0pt;font-family:Arial'>4.166.192</span></b><span lang=HR
1413     style='color:navy'></span></p>
1414     </td>
1415     </tr>
1416     <tr>
1417     <td colspan=3 class="Normal">&nbsp; </td>
1418     </tr>
1419     <tr>
1420     <td colspan=3 class="Normal">
1421     <p align=center style='text-align:center'><b><span lang=HR
1422     style='font-family:Arial'>Consolidated Cash Flow Statement</span></b><span
1423     lang=HR style='color:navy'></span></p>
1424     </td>
1425     </tr>
1426     <tr>
1427     <td colspan=3 class="Normal">
1428     <p align=center style='text-align:center'><span lang=HR
1429     style='font-size:10.0pt;font-family:Arial'>(In accordance with IAS)</span><span
1430     lang=HR style='color:navy'></span></p>
1431     </td>
1432     </tr>
1433     <tr>
1434     <td class="Normal">&nbsp; </td>
1435     <td class="Normal">&nbsp; </td>
1436     <td class="Normal">&nbsp; </td>
1437     </tr>
1438     <tr>
1439     <td class="Normal">&nbsp; </td>
1440     <td class="Normal">&nbsp; </td>
1441     <td class="Normal">&nbsp; </td>
1442     </tr>
1443     <tr>
1444     <td colspan=3 class="Normal">
1445     <p align=right style='text-align:right'><span lang=HR
1446     style='font-size:10.0pt;font-family:Arial'>For the years ended 31 December</span><span
1447     lang=HR style='color:navy'></span></p>
1448     </td>
1449     </tr>
1450     <tr>
1451     <td class="Normal">&nbsp; </td>
1452     <td class="Normal">&nbsp; </td>
1453     <td class="Normal">&nbsp; </td>
1454     </tr>
1455     <tr>
1456     <td class="Normal">&nbsp; </td>
1457     <td colspan=2 class="Normal">
1458     <p align=center style='text-align:center'><b><span lang=HR
1459     style='font-size:10.0pt;font-family:Arial'>PLIVA Group</span></b><span
1460     lang=HR style='color:navy'></span></p>
1461     </td>
1462     </tr>
1463     <tr>
1464     <td class="Normal">&nbsp; </td>
1465     <td class="Normal">&nbsp; </td>
1466     <td class="Normal">&nbsp; </td>
1467     </tr>
1468     <tr>
1469     <td class="Normal">&nbsp; </td>
1470     <td u1:num class="Normal">
1471     <p align=center style='text-align:center'><b><span lang=HR
1472     style='font-size:10.0pt;font-family:Arial'>1998</span></b><span lang=HR
1473     style='color:navy'></span></p>
1474     </td>
1475     <td u1:num class="Normal">
1476     <p align=center style='text-align:center'><b><span lang=HR
1477     style='font-size:10.0pt;font-family:Arial'>1997</span></b><span lang=HR
1478     style='color:navy'></span></p>
1479     </td>
1480     </tr>
1481     <tr>
1482     <td class="Normal">&nbsp; </td>
1483     <td class="Normal">
1484     <p align=center style='text-align:center'><span lang=HR
1485     style='font-size:10.0pt;font-family:Arial'>HRK '000</span><span lang=HR
1486     style='color:navy'></span></p>
1487     </td>
1488     <td class="Normal">
1489     <p align=center style='text-align:center'><span lang=HR
1490     style='font-size:10.0pt;font-family:Arial'>HRK '000</span><span lang=HR
1491     style='color:navy'></span></p>
1492     </td>
1493     </tr>
1494     <tr>
1495     <td colspan=3 class="Normal">
1496     <p><b><span lang=HR style='font-size:10.0pt;font-family:Arial'>CASH FLOW
1497     FROM OPERATING ACTIVITIES</span></b><span lang=HR style='color:navy'></span></p>
1498     </td>
1499     </tr>
1500     <tr>
1501     <td class="Normal">
1502     <p><span lang=HR style='font-size:10.0pt;font-family:Arial'>Cash receipts
1503     from customers</span><span lang=HR style=' color:navy'></span></p>
1504     </td>
1505     <td u1:num="2999982" class="Normal">
1506     <p align=right style='text-align:right'><span lang=HR
1507     style='font-size:10.0pt;font-family:Arial'>2.999.982</span><span lang=HR
1508     style='color:navy'></span></p>
1509     </td>
1510     <td u1:num="2542108" class="Normal">
1511     <p align=right style='text-align:right'><span lang=HR
1512     style='font-size:10.0pt;font-family:Arial'>2.542.108</span><span lang=HR
1513     style='color:navy'></span></p>
1514     </td>
1515     </tr>
1516     <tr>
1517     <td class="Normal">
1518     <p><span lang=HR style='font-size:10.0pt;font-family:Arial'>Cash paid to
1519     suppliers and employees</span><span lang=HR style='color:navy'></span></p>
1520     </td>
1521     <td u1:num="-2211794" class="Normal">
1522     <p align=right style='text-align:right'><span lang=HR
1523     style='font-size:10.0pt;font-family:Arial;color:red'>-2.211.794</span><span
1524     lang=HR style='color:navy'></span></p>
1525     </td>
1526     <td u1:num="-1889109" class="Normal">
1527     <p align=right style='text-align:right'><span lang=HR
1528     style='font-size:10.0pt;font-family:Arial;color:red'>-1.889.109</span><span
1529     lang=HR style='color:navy'></span></p>
1530     </td>
1531     </tr>
1532     <tr>
1533     <td class="Normal">
1534     <p><span lang=HR style='font-size:10.0pt;font-family:Arial'>Cash generated
1535     from operations</span><span lang=HR style=' color:navy'></span></p>
1536     </td>
1537     <td u1:num="788188"
1538     u1:fmla="=B121+B122" class="Normal">
1539     <p align=right style='text-align:right'><span lang=HR
1540     style='font-size:10.0pt;font-family:Arial'>788.188</span><span lang=HR
1541     style='color:navy'></span></p>
1542     </td>
1543     <td u1:num="652999"
1544     u1:fmla="=C121+C122" class="Normal">
1545     <p align=right style='text-align:right'><span lang=HR
1546     style='font-size:10.0pt;font-family:Arial'>652.999</span><span lang=HR
1547     style='color:navy'></span></p>
1548     </td>
1549     </tr>
1550     <tr>
1551     <td class="Normal">
1552     <p><span lang=HR style='font-size:10.0pt;font-family:Arial'>Interest received</span><span lang=HR style='color:navy'></span></p>
1553     </td>
1554     <td u1:num="33848" class="Normal">
1555     <p align=right style='text-align:right'><span lang=HR
1556     style='font-size:10.0pt;font-family:Arial'>33.848</span><span lang=HR
1557     style='color:navy'></span></p>
1558     </td>
1559     <td u1:num="57337" class="Normal">
1560     <p align=right style='text-align:right'><span lang=HR
1561     style='font-size:10.0pt;font-family:Arial'>57.337</span><span lang=HR
1562     style='color:navy'></span></p>
1563     </td>
1564     </tr>
1565     <tr>
1566     <td class="Normal">
1567     <p><span lang=HR style='font-size:10.0pt;font-family:Arial'>Dividends received</span><span lang=HR style='color:navy'></span></p>
1568     </td>
1569     <td u1:num="19359" class="Normal">
1570     <p align=right style='text-align:right'><span lang=HR
1571     style='font-size:10.0pt;font-family:Arial'>19.359</span><span lang=HR
1572     style='color:navy'></span></p>
1573     </td>
1574     <td u1:num="3784" class="Normal">
1575     <p align=right style='text-align:right'><span lang=HR
1576     style='font-size:10.0pt;font-family:Arial'>3.784</span><span lang=HR
1577     style='color:navy'></span></p>
1578     </td>
1579     </tr>
1580     <tr>
1581     <td class="Normal">
1582     <p><span lang=HR style='font-size:10.0pt;font-family:Arial'>Interest paid</span><span lang=HR style='color:navy'></span></p>
1583     </td>
1584     <td u1:num="-41034" class="Normal">
1585     <p align=right style='text-align:right'><span lang=HR
1586     style='font-size:10.0pt;font-family:Arial;color:red'>-41.034</span><span
1587     lang=HR style='color:navy'></span></p>
1588     </td>
1589     <td u1:num="-16026" class="Normal">
1590     <p align=right style='text-align:right'><span lang=HR
1591     style='font-size:10.0pt;font-family:Arial;color:red'>-16.026</span><span
1592     lang=HR style='color:navy'></span></p>
1593     </td>
1594     </tr>
1595     <tr>
1596     <td class="Normal">
1597     <p><span lang=HR style='font-size:10.0pt;font-family:Arial'>Taxes and contributions</span><span lang=HR style=' color:navy'></span></p>
1598     </td>
1599     <td u1:num="-541037" class="Normal">
1600     <p align=right style='text-align:right'><span lang=HR
1601     style='font-size:10.0pt;font-family:Arial;color:red'>-541.037</span><span
1602     lang=HR style='color:navy'></span></p>
1603     </td>
1604     <td u1:num="-243718" class="Normal">
1605     <p align=right style='text-align:right'><span lang=HR
1606     style='font-size:10.0pt;font-family:Arial;color:red'>-243.718</span><span
1607     lang=HR style='color:navy'></span></p>
1608     </td>
1609     </tr>
1610     <tr>
1611     <td class="Normal">
1612     <p><b><span lang=HR style='font-size:10.0pt;font-family:Arial'>Total CF
1613     from operating activities</span></b><span lang=HR style='color:navy'></span></p>
1614     </td>
1615     <td u1:num="259324"
1616     u1:fmla="=SUM(B123:B127)" class="Normal">
1617     <p align=right style='text-align:right'><b><span lang=HR
1618     style='font-size:10.0pt;font-family:Arial'>259.324</span></b><span lang=HR
1619     style='color:navy'></span></p>
1620     </td>
1621     <td u1:num="454376"
1622     u1:fmla="=SUM(C123:C127)" class="Normal">
1623     <p align=right style='text-align:right'><b><span lang=HR
1624     style='font-size:10.0pt;font-family:Arial'>454.376</span></b><span lang=HR
1625     style='color:navy'></span></p>
1626     </td>
1627     </tr>
1628     <tr>
1629     <td class="Normal">&nbsp; </td>
1630     <td class="Normal">&nbsp; </td>
1631     <td class="Normal">&nbsp; </td>
1632     </tr>
1633     <tr>
1634     <td colspan=3 class="Normal">
1635     <p><b><span lang=HR style='font-size:10.0pt;font-family:Arial'>CASH FLOW
1636     FROM INVESTING ACTIVITIES</span></b><span lang=HR style='color:navy'></span></p>
1637     </td>
1638     </tr>
1639     <tr>
1640     <td class="Normal">
1641     <p><span lang=HR style='font-size:10.0pt;font-family:Arial'>Purchase of
1642     POLFA Krakow S.A., net of cash acquired</span><span lang=HR
1643     style='color:navy'></span></p>
1644     </td>
1645     <td u1:num class="Normal">
1646     <p align=right style='text-align:right'><span lang=HR
1647     style='font-size:10.0pt;font-family:Arial'>0</span><span lang=HR
1648     style='color:navy'></span></p>
1649     </td>
1650     <td u1:num="-633875" class="Normal">
1651     <p align=right style='text-align:right'><span lang=HR
1652     style='font-size:10.0pt;font-family:Arial;color:red'>-633.875</span><span
1653     lang=HR style='color:navy'></span></p>
1654     </td>
1655     </tr>
1656     <tr>
1657     <td class="Normal">
1658     <p><span lang=HR style='font-size:10.0pt;font-family:Arial'>Purchase of
1659     other subsidiaries</span><span lang=HR style=' color:navy'></span></p>
1660     </td>
1661     <td u1:num="-8346" class="Normal">
1662     <p align=right style='text-align:right'><span lang=HR
1663     style='font-size:10.0pt;font-family:Arial;color:red'>-8.346</span><span
1664     lang=HR style='color:navy'></span></p>
1665     </td>
1666     <td u1:num class="Normal">
1667     <p align=right style='text-align:right'><span lang=HR
1668     style='font-size:10.0pt;font-family:Arial'>0</span><span lang=HR
1669     style='color:navy'></span></p>
1670     </td>
1671     </tr>
1672     <tr>
1673     <td class="Normal">
1674     <p><span lang=HR style='font-size:10.0pt;font-family:Arial'>Purchase of
1675     tangible fixed assets</span><span lang=HR style=' color:navy'></span></p>
1676     </td>
1677     <td u1:num="-438109" class="Normal">
1678     <p align=right style='text-align:right'><span lang=HR
1679     style='font-size:10.0pt;font-family:Arial;color:red'>-438.109</span><span
1680     lang=HR style='color:navy'></span></p>
1681     </td>
1682     <td u1:num="-463729" class="Normal">
1683     <p align=right style='text-align:right'><span lang=HR
1684     style='font-size:10.0pt;font-family:Arial;color:red'>-463.729</span><span
1685     lang=HR style='color:navy'></span></p>
1686     </td>
1687     </tr>
1688     <tr>
1689     <td class="Normal">
1690     <p><span lang=HR style='font-size:10.0pt;font-family:Arial'>Proceeds from
1691     the sale of equipment</span><span lang=HR style='color:navy'></span></p>
1692     </td>
1693     <td u1:num class="Normal">
1694     <p align=right style='text-align:right'><span lang=HR
1695     style='font-size:10.0pt;font-family:Arial'>0</span><span lang=HR
1696     style='color:navy'></span></p>
1697     </td>
1698     <td u1:num class="Normal">
1699     <p align=right style='text-align:right'><span lang=HR
1700     style='font-size:10.0pt;font-family:Arial'>477</span><span lang=HR
1701     style='color:navy'></span></p>
1702     </td>
1703     </tr>
1704     <tr>
1705     <td class="Normal">
1706     <p><span lang=HR style='font-size:10.0pt;font-family:Arial'>Investment in
1707     long-term receivables</span><span lang=HR style=' color:navy'></span></p>
1708     </td>
1709     <td u1:num="-151268" class="Normal">
1710     <p align=right style='text-align:right'><span lang=HR
1711     style='font-size:10.0pt;font-family:Arial;color:red'>-151.268</span><span
1712     lang=HR style='color:navy'></span></p>
1713     </td>
1714     <td u1:num="-22198" class="Normal">
1715     <p align=right style='text-align:right'><span lang=HR
1716     style='font-size:10.0pt;font-family:Arial;color:red'>-22.198</span><span
1717     lang=HR style='color:navy'></span></p>
1718     </td>
1719     </tr>
1720     <tr>
1721     <td class="Normal">
1722     <p><span lang=HR style='font-size:10.0pt;font-family:Arial'>Investments
1723     in other companies</span><span lang=HR style=' color:navy'></span></p>
1724     </td>
1725     <td u1:num="-110251" class="Normal">
1726     <p align=right style='text-align:right'><span lang=HR
1727     style='font-size:10.0pt;font-family:Arial;color:red'>-110.251</span><span
1728     lang=HR style='color:navy'></span></p>
1729     </td>
1730     <td u1:num="-15407" class="Normal">
1731     <p align=right style='text-align:right'><span lang=HR
1732     style='font-size:10.0pt;font-family:Arial;color:red'>-15.407</span><span
1733     lang=HR style='color:navy'></span></p>
1734     </td>
1735     </tr>
1736     <tr>
1737     <td class="Normal">
1738     <p><span lang=HR style='font-size:10.0pt;font-family:Arial'>Purchase of
1739     marketable securities</span><span lang=HR style=' color:navy'></span></p>
1740     </td>
1741     <td u1:num="-195974" class="Normal">
1742     <p align=right style='text-align:right'><span lang=HR
1743     style='font-size:10.0pt;font-family:Arial;color:red'>-195.974</span><span
1744     lang=HR style='color:navy'></span></p>
1745     </td>
1746     <td u1:num class="Normal">
1747     <p align=right style='text-align:right'><span lang=HR
1748     style='font-size:10.0pt;font-family:Arial'>0</span><span lang=HR
1749     style='color:navy'></span></p>
1750     </td>
1751     </tr>
1752     <tr>
1753     <td class="Normal">
1754     <p><span lang=HR style='font-size:10.0pt;font-family:Arial'>Proceeds from
1755     marketable securities</span><span lang=HR style='color:navy'></span></p>
1756     </td>
1757     <td u1:num class="Normal">
1758     <p align=right style='text-align:right'><span lang=HR
1759     style='font-size:10.0pt;font-family:Arial'>0</span><span lang=HR
1760     style='color:navy'></span></p>
1761     </td>
1762     <td u1:num="22048" class="Normal">
1763     <p align=right style='text-align:right'><span lang=HR
1764     style='font-size:10.0pt;font-family:Arial'>22.048</span><span lang=HR
1765     style='color:navy'></span></p>
1766     </td>
1767     </tr>
1768     <tr>
1769     <td class="Normal">
1770     <p><span lang=HR style='font-size:10.0pt;font-family:Arial'>Collection from
1771     short-term loans and deposits</span><span lang=HR style='color:navy'></span></p>
1772     </td>
1773     <td u1:num class="Normal">
1774     <p align=right style='text-align:right'><span lang=HR
1775     style='font-size:10.0pt;font-family:Arial'>0</span><span lang=HR
1776     style='color:navy'></span></p>
1777     </td>
1778     <td u1:num="58539" class="Normal">
1779     <p align=right style='text-align:right'><span lang=HR
1780     style='font-size:10.0pt;font-family:Arial'>58.539</span><span lang=HR
1781     style='color:navy'></span></p>
1782     </td>
1783     </tr>
1784     <tr>
1785     <td class="Normal">
1786     <p><span lang=HR style='font-size:10.0pt;font-family:Arial'>Short-term loans
1787     granted</span><span lang=HR style=' color:navy'></span></p>
1788     </td>
1789     <td u1:num="-23823" class="Normal">
1790     <p align=right style='text-align:right'><span lang=HR
1791     style='font-size:10.0pt;font-family:Arial;color:red'>-23.823</span><span
1792     lang=HR style='color:navy'></span></p>
1793     </td>
1794     <td u1:num class="Normal">
1795     <p align=right style='text-align:right'><span lang=HR
1796     style='font-size:10.0pt;font-family:Arial'>0</span><span lang=HR
1797     style='color:navy'></span></p>
1798     </td>
1799     </tr>
1800     <tr>
1801     <td class="Normal">
1802     <p><span lang=HR style='font-size:10.0pt;font-family:Arial'>Borrowings from
1803     banks repaid</span><span lang=HR style=' color:navy'></span></p>
1804     </td>
1805     <td u1:num class="Normal">
1806     <p align=right style='text-align:right'><span lang=HR
1807     style='font-size:10.0pt;font-family:Arial'>0</span><span lang=HR
1808     style='color:navy'></span></p>
1809     </td>
1810     <td u1:num="-9748" class="Normal">
1811     <p align=right style='text-align:right'><span lang=HR
1812     style='font-size:10.0pt;font-family:Arial;color:red'>-9.748</span><span
1813     lang=HR style='color:navy'></span></p>
1814     </td>
1815     </tr>
1816     <tr>
1817     <td class="Normal">
1818     <p><b><span lang=HR style='font-size:10.0pt;font-family:Arial'>Total CF
1819     from investing activities</span></b><span lang=HR style='color:navy'></span></p>
1820     </td>
1821     <td u1:num="-927771"
1822     u1:fmla="=SUM(B131:B141)" class="Normal">
1823     <p align=right style='text-align:right'><b><span lang=HR
1824     style='font-size:10.0pt;font-family:Arial;color:red'>-927.771</span></b><span
1825     lang=HR style='color:navy'></span></p>
1826     </td>
1827     <td u1:num="-1063893"
1828     u1:fmla="=SUM(C131:C141)" class="Normal">
1829     <p align=right style='text-align:right'><b><span lang=HR
1830     style='font-size:10.0pt;font-family:Arial;color:red'>-1.063.893</span></b><span
1831     lang=HR style='color:navy'></span></p>
1832     </td>
1833     </tr>
1834     <tr>
1835     <td class="Normal">&nbsp; </td>
1836     <td class="Normal">&nbsp; </td>
1837     <td class="Normal">&nbsp; </td>
1838     </tr>
1839     <tr>
1840     <td colspan=3 class="Normal">
1841     <p><b><span lang=HR style='font-size:10.0pt;font-family:Arial'>CASH FLOWS
1842     FROM FINANCING ACTIVITIES</span></b><span lang=HR style='color:navy'></span></p>
1843     </td>
1844     </tr>
1845     <tr>
1846     <td class="Normal">
1847     <p><span lang=HR style='font-size:10.0pt;font-family:Arial'>Receipts from
1848     short-term loans</span><span lang=HR style=' color:navy'></span></p>
1849     </td>
1850     <td u1:num="198262" class="Normal">
1851     <p align=right style='text-align:right'><span lang=HR
1852     style='font-size:10.0pt;font-family:Arial'>198.262</span><span lang=HR
1853     style='color:navy'></span></p>
1854     </td>
1855     <td u1:num class="Normal">
1856     <p align=right style='text-align:right'><span lang=HR
1857     style='font-size:10.0pt;font-family:Arial'>0</span><span lang=HR
1858     style='color:navy'></span></p>
1859     </td>
1860     </tr>
1861     <tr>
1862     <td class="Normal">
1863     <p><span lang=HR style='font-size:10.0pt;font-family:Arial'>Receipt from
1864     commercial papers issued</span><span lang=HR style='color:navy'></span></p>
1865     </td>
1866     <td u1:num="79348" class="Normal">
1867     <p align=right style='text-align:right'><span lang=HR
1868     style='font-size:10.0pt;font-family:Arial'>79.348</span><span lang=HR
1869     style='color:navy'></span></p>
1870     </td>
1871     <td u1:num class="Normal">
1872     <p align=right style='text-align:right'><span lang=HR
1873     style='font-size:10.0pt;font-family:Arial'>0</span><span lang=HR
1874     style='color:navy'></span></p>
1875     </td>
1876     </tr>
1877     <tr>
1878     <td class="Normal">
1879     <p><span lang=HR style='font-size:10.0pt;font-family:Arial'>Purchase of
1880     own shares</span><span lang=HR style=' color:navy'></span></p>
1881     </td>
1882     <td u1:num="-12833" class="Normal">
1883     <p align=right style='text-align:right'><span lang=HR
1884     style='font-size:10.0pt;font-family:Arial;color:red'>-12.833</span><span
1885     lang=HR style='color:navy'></span></p>
1886     </td>
1887     <td u1:num="-26748" class="Normal">
1888     <p align=right style='text-align:right'><span lang=HR
1889     style='font-size:10.0pt;font-family:Arial;color:red'>-26.748</span><span
1890     lang=HR style='color:navy'></span></p>
1891     </td>
1892     </tr>
1893     <tr>
1894     <td class="Normal">
1895     <p><span lang=HR style='font-size:10.0pt;font-family:Arial'>Sale of own
1896     shares</span><span lang=HR style=' color:navy'></span></p>
1897     </td>
1898     <td u1:num class="Normal">
1899     <p align=right style='text-align:right'><span lang=HR
1900     style='font-size:10.0pt;font-family:Arial'>0</span><span lang=HR
1901     style='color:navy'></span></p>
1902     </td>
1903     <td u1:num="1010" class="Normal">
1904     <p align=right style='text-align:right'><span lang=HR
1905     style='font-size:10.0pt;font-family:Arial'>1.010</span><span lang=HR
1906     style='color:navy'></span></p>
1907     </td>
1908     </tr>
1909     <tr>
1910     <td class="Normal">
1911     <p><span lang=HR style='font-size:10.0pt;font-family:Arial'>Proceeds from
1912     long-term loans</span><span lang=HR style=' color:navy'></span></p>
1913     </td>
1914     <td u1:num="530602" class="Normal">
1915     <p align=right style='text-align:right'><span lang=HR
1916     style='font-size:10.0pt;font-family:Arial'>530.602</span><span lang=HR
1917     style='color:navy'></span></p>
1918     </td>
1919     <td u1:num="136143" class="Normal">
1920     <p align=right style='text-align:right'><span lang=HR
1921     style='font-size:10.0pt;font-family:Arial'>136.143</span><span lang=HR
1922     style='color:navy'></span></p>
1923     </td>
1924     </tr>
1925     <tr>
1926     <td class="Normal">
1927     <p><span lang=HR style='font-size:10.0pt;font-family:Arial'>Dividends paid</span><span lang=HR style='color:navy'></span></p>
1928     </td>
1929     <td u1:num="-139309" class="Normal">
1930     <p align=right style='text-align:right'><span lang=HR
1931     style='font-size:10.0pt;font-family:Arial;color:red'>-139.309</span><span
1932     lang=HR style='color:navy'></span></p>
1933     </td>
1934     <td u1:num="-135003" class="Normal">
1935     <p align=right style='text-align:right'><span lang=HR
1936     style='font-size:10.0pt;font-family:Arial;color:red'>-135.003</span><span
1937     lang=HR style='color:navy'></span></p>
1938     </td>
1939     </tr>
1940     <tr>
1941     <td class="Normal">
1942     <p><b><span lang=HR style='font-size:10.0pt;font-family:Arial'>Total CF
1943     from financing activities</span></b><span lang=HR style='color:navy'></span></p>
1944     </td>
1945     <td u1:num="656070"
1946     u1:fmla="=SUM(B145:B150)" class="Normal">
1947     <p align=right style='text-align:right'><b><span lang=HR
1948     style='font-size:10.0pt;font-family:Arial'>656.070</span></b><span lang=HR
1949     style='color:navy'></span></p>
1950     </td>
1951     <td u1:num="-24598"
1952     u1:fmla="=SUM(C145:C150)" class="Normal">
1953     <p align=right style='text-align:right'><b><span lang=HR
1954     style='font-size:10.0pt;font-family:Arial;color:red'>-24.598</span></b><span
1955     lang=HR style='color:navy'></span></p>
1956     </td>
1957     </tr>
1958     <tr>
1959     <td class="Normal">&nbsp; </td>
1960     <td class="Normal">&nbsp; </td>
1961     <td class="Normal">&nbsp; </td>
1962     </tr>
1963     <tr>
1964     <td class="Normal">
1965     <p><b><span lang=HR style='font-size:10.0pt;font-family:Arial'>Effects of
1966     change in foreign currency exchange rates on:</span></b><span lang=HR
1967     style='color:navy'></span></p>
1968     </td>
1969     <td class="Normal">&nbsp; </td>
1970     <td class="Normal">&nbsp; </td>
1971     </tr>
1972     <tr>
1973     <td class="Normal">
1974     <p><span> </span>- tangible fixed assets<span
1975     lang=HR style='color:navy'></span></p>
1976     </td>
1977     <td u1:num="1767" class="Normal">
1978     <p align=right style='text-align:right'><span lang=HR
1979     style='font-size:10.0pt;font-family:Arial'>1.767</span><span lang=HR
1980     style='color:navy'></span></p>
1981     </td>
1982     <td u1:num="1979" class="Normal">
1983     <p align=right style='text-align:right'><span lang=HR
1984     style='font-size:10.0pt;font-family:Arial'>1.979</span><span lang=HR
1985     style='color:navy'></span></p>
1986     </td>
1987     </tr>
1988     <tr>
1989     <td class="Normal">
1990     <p><span> </span>- capital and minority interest<span
1991     lang=HR style='color:navy'></span></p>
1992     </td>
1993     <td u1:num="-2879" class="Normal">
1994     <p align=right style='text-align:right'><span lang=HR
1995     style='font-size:10.0pt;font-family:Arial;color:red'>-2.879</span><span
1996     lang=HR style='color:navy'></span></p>
1997     </td>
1998     <td u1:num="-3082" class="Normal">
1999     <p align=right style='text-align:right'><span lang=HR
2000     style='font-size:10.0pt;font-family:Arial;color:red'>-3.082</span><span
2001     lang=HR style='color:navy'></span></p>
2002     </td>
2003     </tr>
2004     <tr>
2005     <td class="Normal">
2006     <p><span> </span>- cash and cash equivalents<span
2007     lang=HR style='color:navy'></span></p>
2008     </td>
2009     <td u1:num="4377" class="Normal">
2010     <p align=right style='text-align:right'><span lang=HR
2011     style='font-size:10.0pt;font-family:Arial'>4.377</span><span lang=HR
2012     style='color:navy'></span></p>
2013     </td>
2014     <td u1:num="71401" class="Normal">
2015     <p align=right style='text-align:right'><span lang=HR
2016     style='font-size:10.0pt;font-family:Arial'>71.401</span><span lang=HR
2017     style='color:navy'></span></p>
2018     </td>
2019     </tr>
2020     <tr>
2021     <td class="Normal">
2022     <p><b><span lang=HR style='font-size:10.0pt;font-family:Arial'>Total</span></b><span
2023     lang=HR style='color:navy'></span></p>
2024     </td>
2025     <td u1:num="3265"
2026     u1:fmla="=SUM(B154:B156)" class="Normal">
2027     <p align=right style='text-align:right'><b><span lang=HR
2028     style='font-size:10.0pt;font-family:Arial'>3.265</span></b><span lang=HR
2029     style='color:navy'></span></p>
2030     </td>
2031     <td u1:num="70298"
2032     u1:fmla="=SUM(C154:C156)" class="Normal">
2033     <p align=right style='text-align:right'><b><span lang=HR
2034     style='font-size:10.0pt;font-family:Arial'>70.298</span></b><span lang=HR
2035     style='color:navy'></span></p>
2036     </td>
2037     </tr>
2038     <tr>
2039     <td class="Normal">&nbsp; </td>
2040     <td class="Normal">&nbsp; </td>
2041     <td class="Normal">&nbsp; </td>
2042     </tr>
2043     <tr>
2044     <td class="Normal">&nbsp; </td>
2045     <td class="Normal">&nbsp; </td>
2046     <td class="Normal">&nbsp; </td>
2047     </tr>
2048     <tr>
2049     <td colspan=2 class="Normal">
2050     <p><b><span lang=HR style='font-size:10.0pt;font-family:Arial'>NET INCREASE/(DECREASE)
2051     IN CASH AND</span></b><span lang=HR style='color:navy'></span></p>
2052     </td>
2053     <td class="Normal">&nbsp; </td>
2054     </tr>
2055     <tr>
2056     <td class="Normal">
2057     <p><b><span lang=HR style='font-size:10.0pt;font-family:Arial'>CASH EQUIVALENTS</span></b><span lang=HR style=' color:navy'></span></p>
2058     </td>
2059     <td u1:num="9112" class="Normal">
2060     <p align=right style='text-align:right'><b><span lang=HR
2061     style='font-size:10.0pt;font-family:Arial'>9.112</span></b><span lang=HR
2062     style='color:navy'></span></p>
2063     </td>
2064     <td u1:num="563817" class="Normal">
2065     <p align=right style='text-align:right'><b><span lang=HR
2066     style='font-size:10.0pt;font-family:Arial'>563.817</span></b><span lang=HR
2067     style='color:navy'></span></p>
2068     </td>
2069     </tr>
2070     <tr>
2071     <td class="Normal">&nbsp; </td>
2072     <td class="Normal">&nbsp; </td>
2073     <td class="Normal">&nbsp; </td>
2074     </tr>
2075     <tr>
2076     <td class="Normal">
2077     <p><b><span lang=HR style='font-size:10.0pt;font-family:Arial'>CASH AND
2078     CASH EQUIVALENTS:</span></b><span lang=HR style=' color:navy'></span></p>
2079     </td>
2080     <td class="Normal">&nbsp; </td>
2081     <td class="Normal">&nbsp; </td>
2082     </tr>
2083     <tr>
2084     <td class="Normal">
2085     <p><b><span> </span>- AT THE BEGINING OF THE YEAR</b><span
2086     lang=HR style='color:navy'></span></p>
2087     </td>
2088     <td u1:num="173166" class="Normal">
2089     <p align=right style='text-align:right'><b><span lang=HR
2090     style='font-size:10.0pt;font-family:Arial'>173.166</span></b><span lang=HR
2091     style='color:navy'></span></p>
2092     </td>
2093     <td u1:num="736983" class="Normal">
2094     <p align=right style='text-align:right'><b><span lang=HR
2095     style='font-size:10.0pt;font-family:Arial'>736.983</span></b><span lang=HR
2096     style='color:navy'></span></p>
2097     </td>
2098     </tr>
2099     <tr>
2100     <td class="Normal">
2101     <p><b><span> </span>- AT THE END OF THE YEAR</b><span
2102     lang=HR style='color:navy'></span></p>
2103     </td>
2104     <td u1:num="164054" class="Normal">
2105     <p align=right style='text-align:right'><b><span lang=HR
2106     style='font-size:10.0pt;font-family:Arial'>164.054</span></b><span lang=HR
2107     style='color:navy'></span></p>
2108     </td>
2109     <td u1:num="173166" class="Normal">
2110     <p align=right style='text-align:right'><b><span lang=HR
2111     style='font-size:10.0pt;font-family:Arial'>173.166</span></b><span lang=HR
2112     style='color:navy'></span></p>
2113     </td>
2114     </tr>
2115     </table>
2116     <p>&nbsp;</p>
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