Terms of Use

These Terms of Use are applied by Burzovni list (the "operator"), the provider of the informational service at burzovnilist.com — a platform for the informational display of data and analytical ranges for stocks listed on the Zagreb Stock Exchange. Operator details and contact are in the Impressum (info@burzovnilist.com). By using the site you accept these Terms.

The data, ranges and fair-value zones shown are informational and analytical — they are not investment advice, a recommendation, or a solicitation to buy or sell financial instruments. Fair-value zones and ranges result from a publicly described methodology with assumptions stated next to every analysis; the conclusion is always the reader's. Values of illiquid stocks are indicative and tagged as such. The service publishes no target prices, ratings or recommendations.

The data is based on official end-of-day closes of the Zagreb Stock Exchange (published after the close of trading; a delay is possible, and every price carries the actual data date) and issuers' publicly available reports (EHO/ZSE). The operator does not guarantee completeness, accuracy or timeliness; missing data is shown empty (n/a) and is never estimated. The issuers' source documents and the exchange's official publications are authoritative.

Registration uses an email address and password. The user is responsible for the confidentiality of their password and for activity under their account. The operator may suspend or terminate an account in case of abuse (including unauthorized-access attempts, automated bulk downloading, or disrupting the service). The portfolio feature is a record-keeping tool — it is based on the user's manual entries, does not connect to brokerage accounts and executes no transactions.

The site's content, methodology, analytical texts, visualizations and database are the operator's property. Personal, non-commercial use is permitted. Scraping, bulk downloading, systematic copying and redistribution of data or analyses without the operator's prior written permission are prohibited. Third-party data (ZSE, issuers) is additionally subject to those sources' rights.

To the fullest extent permitted by applicable law, the operator is not liable for decisions made on the basis of the site's content, nor for any damage (direct or indirect) arising from the use of, or inability to use, the site — including damage due to inaccuracy, incompleteness or untimeliness of data and temporary unavailability of the service. For investment, tax or legal decisions, consult a licensed adviser.

The operator reserves the right to amend these Terms. Amendments are published on this page with their effective date. Continued use of the site after publication constitutes acceptance of the amended Terms.

These Terms are governed by the law of the Republic of Croatia. The court with subject-matter jurisdiction in Zagreb has jurisdiction over disputes.

These Terms take effect on 17.07.2026.

This is an English translation provided for convenience. In case of dispute, the Croatian version prevails: Croatian version.