11. Property, plant and equipmentb) By asset typeINA GroupOil and gaspropertiesLand andbuildingsPlant andmachineryand assetsunderconstructionVehicles andofficeequipmentCollectiveConsumptionassetsTotalAccumulated depreciationBalance at 31 December 2005 16,594 6,653 8,010 1,036 42 32,335Charge for the year 382 214 261 88 1 946Transfer from intangible assets - - 2 - - 2Impairment (15) (49) (9) - - (73)Transfers (40) (11) 45 6 - -Disposals (12) (9) (269) (64) (4) (358)Balance at 31 December 2006 16,909 6,798 8,040 1,066 39 32,852Charge for the year 619 209 274 121 1 1,224Acqusition of Rotary Zrt. - 7 41 98 - 146Impairment 33 7 3 (1) - 42Transfers (22) 24 (2) - - -Disposals (6) (41) (85) (65) (4) (201)Balance at 31 December 2007 17,533 7,004 8,271 1,219 36 34,063Carrying amountAt 31 December 2007 4,471 3,316 6,801 294 9 14,891At 31 December 2006 4,508 3,173 5,435 184 12 13,312The carrying amount of INA Group property, plant andequipment increased in 2007 by HRK 1,579 million asa result of the current year investments in the amountof HRK 2,354 million, recognition of the investment inRotary Zrt. in the amount of HRK 268 million, change inthe estimated decommissioning costs of HRK 77 million,transfer from intangible assets in the amount of HRK177 million, retirements in the amount of HRK 31 million,depreciation charge of HRK 1,224 million and impairmentof assets per IAS 36 in the amount of HRK 42 million.114 Financial report
) By asset typeINA d.d.Oil and gaspropertiesLand andbuildingsPlant andmachineryand assetsunderconstructionVehicles andofficeequipmentCollectiveConsumptionassetsTotalCostBalance at 31 December 2005 20,226 8,175 10,139 638 58 39,236Additions - 13 2,318 - - 2,331Capitalised decommission costs (400) - - - - (400)Transfer from intangible assets - - 62 - - 62Impairment - Gas factory Pula - (35) (6) - - (41)Transfers 1,602 114 (1,736) 20 - -Disposals (12) (8) (288) (11) (11) (330)Strategic spare parts transferred toinventory- - (82) - - (82)Balance at 31 December 2006 21,416 8,259 10,407 647 47 40,776Additions - - 1,995 - - 1,995Capitalised decommission costs 77 - - - - 77Transfer from intangible assets - - 176 - - 176Transfers 519 299 (943) 125 - -Disposals (9) (55) (78) (11) (6) (159)Balance at 31 December 2007 22,003 8,503 11,557 761 41 42,865Annual report 2007115
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Table of contentsIntroduction 5INA,
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Annual report 2007
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Tomislav DragiËeviÊ, President of
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Josip PetroviÊ, Member of the Boar
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Scheme of macro-organizational stru
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Higher output in INA’srefineriesI
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Poslovno izvjeπÊeAnnual report 20
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Vision, Mission and CoreValuesINA i
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Reduction of sulphur dioxide and hy
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Healthcare, as one of the prioritie
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Intellectual propertymanagementToda
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Business Segments
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Mazrur-1STConstruction of the Mazru
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Exploration in CroatiaPannonian bas
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Investments in exploration and deve
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Oil and gas reserves as of 31 Decem
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As part of safety and environmental
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Natural gas supplyThe production of
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Over the previous year, the strong
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At the Rijeka Oil Refinery, a contr
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Annual report 200747
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Strateπko pertnerstvoIn 2006 two n
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All business processes of the Secto
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Strategic partnershipwith MOLStrate
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Financial results
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Important financialindicators for 2
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Refineries and MarketingSegments IF
- Page 63 and 64: Business environmentThe following f
- Page 65 and 66: (“price cap” limitation) also h
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- Page 71 and 72: ContentsResponsibility for the Fina
- Page 73 and 74: Responsibility for thefinancial sta
- Page 75 and 76: OpinionIn our opinion, the financia
- Page 77 and 78: Notes 2007 2006Investment revenue 6
- Page 79 and 80: INA Group ConsolidatedBalance Sheet
- Page 81 and 82: INA d.d. UnconsolidatedBalance Shee
- Page 83 and 84: INA Group ConsolidatedStatement of
- Page 85 and 86: INA d.d. UnconsolidatedStatement of
- Page 87 and 88: INA Group ConsolidatedCash Flow Sta
- Page 89 and 90: Notes 2007 2006Cash flows from fina
- Page 91 and 92: In its session of 22 July 2005, the
- Page 93 and 94: Management Board from 5th May 2006d
- Page 95 and 96: IFRIC 11 IFRS 2: Group and Treasury
- Page 97 and 98: GoodwillGoodwill arising on the acq
- Page 99 and 100: Where an impairment loss subsequent
- Page 101 and 102: Deferred taxDeferred tax is recogni
- Page 103 and 104: The effective interest method is a
- Page 105 and 106: Furthermore, the time determined fo
- Page 107 and 108: 3. Sales revenueRevenue represents
- Page 109 and 110: 7. Finance costsINA GroupINA d.d.20
- Page 111 and 112: 9. Earnings per shareINA Group2007
- Page 113: ) By asset typeINA GroupOil and gas
- Page 117 and 118: I) Oil and gas reservesThe ability
- Page 119 and 120: 13. Investments in subsidiariesBasi
- Page 121 and 122: 14. Investments in associates and j
- Page 123 and 124: 17. Available-for-sale assetsCompan
- Page 125 and 126: 19. Receivables from buyers, netINA
- Page 127 and 128: 22. Paid expenses of the future per
- Page 129 and 130: 25. Liabilities to suppliers, taxes
- Page 131 and 132: Averageweightedinterest rateAverage
- Page 133 and 134: was contracted with a 5-year expiry
- Page 135 and 136: INA GroupINA d.d.2007 2006 2007 200
- Page 137 and 138: o podjeli proizvodnje - UPP) on the
- Page 139 and 140: The change of the present value of
- Page 141 and 142: 34. Retained earningsINA GroupRetai
- Page 143 and 144: By business segmentsINA d.d.Researc
- Page 145 and 146: By business segmentsINA GroupResear
- Page 147 and 148: By business segmentsINA d.d.Researc
- Page 149 and 150: By geographical areasINA d.d.Republ
- Page 151 and 152: Income from sale of goodsand servic
- Page 153 and 154: Income from the sale of products to
- Page 155 and 156: ond, exploratory and confirmatory w
- Page 157 and 158: 39. Unforeseen obligationsInvestmen
- Page 159 and 160: Goals of financial risk managementT
- Page 161 and 162: was valid throughout the year. An i
- Page 163 and 164: INA d.d. interest-free liabilities
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42. Approval of the financial state
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CROBENZ d.d. ZagrebRadniËka cesta