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24. Liabilities by bank loans, overdrafts and the current part ofliabilities by long-term loansINA GroupINA d.d.2007 2006 2007 2006Loans and current account overdrafts 1,664 1,935 97 159Short-term part of the long-term loans (note 27) 129 578 45 5061,793 2,513 142 665Maturity date Insurance/guarantee 2007 2006BNP Paribas (USD) by 31 May 2008 INA d.d. guarantee 455 461Nova Ljubljanska banka, Ljubljana (SIT) by 3 June 2008 - 6 4Natexis Bank (USD) by 31 Dec 2008 INA d.d. guarantee - 59Bank Tokyo Mitsubishi (USD) by 14 Sept 2008 INA d.d. guarantee 175 230Probanka d.d. (SIT) by 18 March 2007 - - 1Raiffeisenbank Zagreb (EUR, USD i HRK) by 28 Feb 2008 - 29 37Bank Austria Creditanstalt (USD) by 20 June 2008 - - 325ZagrebaËka banka, Zagreb (EUR, USD,HRK) by 30 June 2008 - 22 -Privredna banka Zagreb, Zagreb (HRK) by 30 Sept 2008 - 57 31Societe - Generale, Splitska banka (USD, HRK) by 30 Sept 2008 - 35 57Slavonska banka Osijek by 10 Oct 2008 - 18 21Fortis (USD) by 17 Oct 2008 INA d.d. guarantee 476 244Citibank Int. (USD) by 3 July 2008 - 259 306OTP bank NYRT (HUF) by 31 March 2008 - 35 -Short-term part of long-term loans (note 27) 84 72INA d.d.Short-term loans and overdrafts 97 159Short-term part of long-term loans (note 27) 45 506Total INA d.d. 142 665Total INA Group 1,793 2,513In 2007, interest on the above loans was paid at ratesbased on LIBOR plus up to 1.25% The Company usesseveral short-term bank loans to manage its short-termcash flow cycle, including facilities arranged throughInterina Guernsey and Inter <strong>Ina</strong> Limited, wholly ownedsubsidiaries. These loans were typically settled in fullevery 90 days on a revolving basis.128 Financial report
25. Liabilities to suppliers, taxes and contributions and othershort-term liabilitiesINA GroupINA d.d.2007 2006 2007 2006Liabilities to suppliers 3,532 2,900 1,876 1,935Value-added tax, excise tax and other taxes 569 478 486 432Contributions, tax from and on salaries and surtax 79 71 49 47Salaries and other 269 264 86 1464,449 3,713 2,497 2,560According to the Management Board’s opinion, the stated amounts of short-term liabilities are approximate to theirfair values.26. Delayed payment of income and expenditureof the future periodINA GroupINA d.d.2007 2006 2007 2006Included interest on long-term loans 37 22 33 35Charged expenses 120 98 45 36Other 41 37 19 44198 157 97 115Annual report 2007129
Page 3:
Table of contentsIntroduction 5INA,
Page 7 and 8:
Annual report 2007
Page 9 and 10:
Tomislav DragiËeviÊ, President of
Page 11 and 12:
Josip PetroviÊ, Member of the Boar
Page 13 and 14:
Scheme of macro-organizational stru
Page 15 and 16:
Higher output in INA’srefineriesI
Page 17:
Poslovno izvjeπÊeAnnual report 20
Page 20 and 21:
Vision, Mission and CoreValuesINA i
Page 22 and 23:
Reduction of sulphur dioxide and hy
Page 24 and 25:
Healthcare, as one of the prioritie
Page 26 and 27:
Intellectual propertymanagementToda
Page 29 and 30:
Business Segments
Page 31 and 32:
Mazrur-1STConstruction of the Mazru
Page 33 and 34:
Exploration in CroatiaPannonian bas
Page 35 and 36:
Investments in exploration and deve
Page 37 and 38:
Oil and gas reserves as of 31 Decem
Page 39 and 40:
As part of safety and environmental
Page 41 and 42:
Natural gas supplyThe production of
Page 43 and 44:
Over the previous year, the strong
Page 45 and 46:
At the Rijeka Oil Refinery, a contr
Page 47 and 48:
Annual report 200747
Page 49 and 50:
Strateπko pertnerstvoIn 2006 two n
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All business processes of the Secto
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Strategic partnershipwith MOLStrate
Page 57 and 58:
Financial results
Page 59 and 60:
Important financialindicators for 2
Page 61 and 62:
Refineries and MarketingSegments IF
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Business environmentThe following f
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(“price cap” limitation) also h
Page 67:
Annual report 200767
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 and 114: ) By asset typeINA GroupOil and gas
Page 115 and 116: ) By asset typeINA d.d.Oil and gasp
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: 22. Paid expenses of the future per
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
Page 165 and 166: 42. Approval of the financial state
Page 167 and 168: CROBENZ d.d. ZagrebRadniËka cesta
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