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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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