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27. Long-term loansLong-term loans have been arranged in several foreign currencies and are subject to different interest rates. The greaterpart of loans received is insured by bills of exchange deposited with Croatian banks. The Group’s outstanding loans asat 31 December 2007 are as follows.Loan description Loan currency 2007 2006PBZ-API 8003 Loan USD 2 2Erste & Steiermarkische bankViktor LenacEnvironmental protectionEUR121157JugobankaLoan - purchase ofequipmentLoan - purchase ofequipmentLoan - purchase ofequipmentUSD and EUR 19 28different currencies - 4JPY - 14EBRD Environmental EUR 121 157Mizuho/PBZEBRD Syndicated loan USD - 1,673Bayerische Landesbank Syndicated loan USD 2,891 -3,033 1,878Part which becomes due within 1 year (45) (506)INA d.d. total long-term loans Part whichbecomes due within 1 year2,988 1,372Group’s other long-term loans 226 125Part which becomes due within 1 year (84) (72)INA Group’s total long-term loans 3,130 1,425Averageweightedinterest rateAverageweightedinterest rateINA Group 2007 2006 2007 2006% %Bank loans in USD 5.26 6.25 3,097 1,804Bank loans in EUR 5.31 6.29 162 177Bank loans in JPY - 5.17 - 14Bank loans in DKK - 3.25 - 1Bank loans in SIT - 5.07 - 5Bank loans in HRK - - - 2Total 3,259 2,003Part which becomes due within 1 year (129) (578)INA Group’s total long-term loans 3,130 1,425130 Financial report
Averageweightedinterest rateAverageweightedinterest rateINA d.d. 2007 2006 2007 2006% %Bank loans in USD 5.10 5.31 2,897 1,688Bank loans in EUR 5.24 5.07 136 175Bank loans in JPY - 5.17 - 14Bank loans in DKK - 3.25 - 1Total 3,033 1,878Part which becomes due within 1 year (45) (506)INA d.d. total long-term loans 2,988 1,372These loans will become mature as follows:INA GroupINA d.d.2007 2006 2007 2006Short-term part of long-term loans 129 578 45 506Maturity from one to two years 51 974 44 938Maturity from two to three years 157 383 35 381Maturity from three to four years 20 37 17 35Maturity from four to five years 2,895 20 2,892 18Maturity over five years 7 11 - -Total 3,259 2,003 3,033 1,878Annual report 2007131
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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
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Higher output in INA’srefineriesI
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Poslovno izvjeπÊeAnnual report 20
Page 20 and 21:
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
Page 31 and 32:
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
Page 41 and 42:
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
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
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Financial results
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Important financialindicators for 2
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Refineries and MarketingSegments IF
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Business environmentThe following f
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(“price cap” limitation) also h
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Annual report 200767
Page 71 and 72:
ContentsResponsibility for the Fina
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Responsibility for thefinancial sta
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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 and 128: 22. Paid expenses of the future per
Page 129: 25. Liabilities to suppliers, taxes
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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