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37. Business relations with associated partiesThe Company has a dominant position in the Republicof Croatia in the exploration and production of oil andgas, oil processing and sale of gas and oil products. Dueto INA’s strategic position in the Croatian economy,a significant part of its operations and its dependentcompanies’ operations are business transactions with theGovernment of the Republic of Croatia, its ministries andagencies, as well as companies in majority ownership ofthe Republic of Croatia.Transactions between INA d.d. and its dependentcompanies as associated parties have been eliminated onconsolidation. Transactions between INA d.d. and othercompanies within the Group and other associated partiesare shown below.Sale and purchase transactionsTransactions between INA d.d. and associated parties throughout the year:Income from sale of goodsand servicesCosts from the relationswith associated partiesINA d.d. 2007 2006 2007 2006BUSINESS PARTNERSAssociated companies abroadInterina Ltd Guernsey 2,246 2,206 676 1,070Holdina Sarajevo 592 529 15 -Interina d.o.o. Mostar 214 258 14 -Interina d.o.o. Ljubljana 19 69 1 -Interina Ltd London 79 - 11,952 8,030Associated companies in CroatiaCrosco Grupa 9 21 399 190Osijek Petrol d.d. 815 1,229 22 -Crobenz d.d. Zagreb 622 725 10 -Proplin d.o.o. Zagreb 380 422 117 172STSI d.o.o. Zagreb 10 23 1,002 324Maziva Zagreb d.o.o. Zagreb 74 64 76 57Companies available for saleJANAF d.d. Zagreb - - 55 36Strategic partnerMOL Plc 246 100 226 612150 Financial report
Income from sale of goodsand servicesCosts from the relationswith associated partiesINA d.d. 2007 2006 2007 2006Companies controlled by the stateHrvatske æeljeznice 146 240 30 30Hrvatska elektroprivreda 2,128 1,168 133 73Hrvatske telekomunikacije 3 13 28 24Croatia osiguranje 6 1 50 54Hrvatske vode - - 20 -Hrvatska poπta 1 15 3 3Ministarstvo obrane Republike Hrvatske 74 105 - -Hrvatske ©ume 3 60 4 1Jadrolinija 114 160 2 3Narodne novine - 1 - 8Hrvatska radiotelevizija - 3 - 1Plovput - 1 - -Croatia Airlines 169 166 - -Petrokemija Kutina 661 612 - -Plinacro 5 10 391 364Æeljezara Sisak - - 1 1Annual report 2007151
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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
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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
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
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ContentsResponsibility for the Fina
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Responsibility for thefinancial sta
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OpinionIn our opinion, the financia
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Notes 2007 2006Investment revenue 6
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INA Group ConsolidatedBalance Sheet
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INA d.d. UnconsolidatedBalance Shee
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INA Group ConsolidatedStatement of
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INA d.d. UnconsolidatedStatement of
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INA Group ConsolidatedCash Flow Sta
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Notes 2007 2006Cash flows from fina
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In its session of 22 July 2005, the
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Management Board from 5th May 2006d
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IFRIC 11 IFRS 2: Group and Treasury
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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 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: By geographical areasINA d.d.Republ
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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