ANNUAL REPORT 2020

REPORT ON THE ACTIVITIES OF CONSOLIDATED ENTITIES The amount of investments in subsidiaries and affiliates as at 31 December 2020 recognised in line with IFRS amounted to EUR 79 026 thousand, a 27.2% share of the Company’s total assets. In April 2020, the Company acquired 12 shares in UHL Holding, a.s., thus becoming a 100% owner of this company and indirectly of its subsidiary, UHL, s.r.o. In August 2020, the Company acquired a 10% ownership interest in ZANINONI SLOVAKIA, s.r.o. In December 2020, Tále ski & golf resorts s.r.o. was established as a joint venture of Tále, a.s., and Tále Invest a.s., in which the subsidiary Tále, a.s., owns a 40% share in the registered capital. In December 2020, Železiarne Podbrezová a.s. sold 65% of all shares in FK Železiarne Podbrezová a.s. to three new shareholders.