The subject of this paper is the analysis of the financial reports of the Podravka Group in order to define the state of business of the company by applying horizontal and vertical analyzes and through indicators over several years. The paper analyzes the activity of the observed company for the three year period (2015. to 2017.). The analysis of the financial reports of the balance sheet and profit and loss account was carried out using a horizontal and vertical analysis. On the basis of the performed analysis of the balance sheet of concessions, land, construction facilities and plant and equipment are the most significant items of long-term assets, with regard to short-term assets the most significant items are inventories and receivables from customers. In the structure of liabilities, the most frequent items are capital in the structure of long-term liabilities are liabilities to banks, and for short-term liabilities are liabilities to suppliers. The Group also invests in investments in 2017, a new drug factory Belupo, the largest greenfield investment in company history and the Group invested in a new factory in Bagamoy. After the growth in sales revenue, the Group was in 2017. recorded a slight decline in sales revenues as a result of the fact that Podravka d.d. at the end of 2016 sold the business of Beverages. Revenues from other sales are higher due to the rise in sales revenue of Deltis Pharm pharmacies. The Group's performance analysis was also carried out using financial indicators. In all years, the indicators are positive and point to business performance and positive growth in future periods.