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32. Revaluation reservesINA Group & INA d.d.2007 2006Initial balance 66 (96)Increase occurring on the basis of revaluation of financial assets available for sale (Janaf) 206 179Decrease occurring on the basis of revaluation of financial assets available for sale(Plinara Pula)(2) -Corresponding delayed tax (41) (17)Final balance 229 6633. Other reservesThe Group’s reserves refer to accumulated surpluses anddeficits, revaluation of real estate, plant and equipment,and positive and negative exchange rate differencesoccurring up to 1993. For several years, the Croatianeconomy was affected by hyperinflation, and before 31December 1993 neither the Company nor the Group weresubjects of auditing. For these reasons, it was not possibleto break down the Company and the Group’s reserves asat 31 December 1993.For the periods after 1993, the results of the Group’stransactions, if they affect the reserves, were stated inthe corresponding reserve accounts. The Group’s reservesas at 31 December 1993 were aggregated on that day, andstated separately in this note.Changes to reserves throughout the years were as follows:INA GroupCombinedreserves at31 December 1993Foreign currencytranslationreservesOtherreservesTotal31 December 2005 2,132 (189) 447 2,390Changes throughout 2006 - (43) - (43)31 December 2006 2,132 (232) 447 2,347Changes throughout 2007 - (46) - (46)31 December 2007 2,132 (278) 447 2,301INA d.d.Combinedreserves at31 December 1993OtherreservesTotal31 December 2006 1,667 285 1,95231 December 2007 1,667 285 1,952140 Financial report
34. Retained earningsINA GroupRetained profit/(accumulated loss)INA d.d.Retained profit/(accumulated loss)31 December 2005 483 (119)Financial year profit 883 67031 December 2006 1,366 551Paid dividends (131) (131)Financial year profit 869 99031 December 2007 2,104 1,41035. Minority owners’ stakes in the result of dependent companiesINA Group2007 2006Balance at the beginning of the year 7 6Stakes in the profits of the current year 2 1Balance at the end of the year 9 7Annual report 2007141
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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
Page 15 and 16:
Higher output in INA’srefineriesI
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Poslovno izvjeπÊeAnnual report 20
Page 20 and 21:
Vision, Mission and CoreValuesINA i
Page 22 and 23:
Reduction of sulphur dioxide and hy
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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
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Exploration in CroatiaPannonian bas
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Investments in exploration and deve
Page 37 and 38:
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
Page 43 and 44:
Over the previous year, the strong
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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
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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
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INA Group ConsolidatedBalance Sheet
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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 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: The change of the present value of
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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