Retail SegmentThe Retail Segment manages a network of petrol stationsin Croatia, Slovenia and Bosnia and Herzegovina. Put intofigures, this means 432 petrol stations in Croatia (INA, d.d.owns 412 petrol stations, and daughter companies own20), six in Slovenia and 41 in Bosnia and Herzegovina. Thenetwork’s potential was strengthened by a certain numberof petrol stations which are currently subject to propertyrestitution proceedings. Some of them are in Bosnia andHerzegovina, and the others in Serbia and Montenegro.There are 498 points of sale in the retail system.During 2007, the retail network in Croatia was organisedinto 6 retail regions comprising 17 retail units whichcoordinated the work of the 412 petrol stations (as at 31December 2007).services and by some new, innovative services such as“coffee-to-go”, consumer ice, expanded fast-food offer.An additional step forward was the category managementpilot project which represents a concept created on aconsumer scale. A great novelty in the offer representsthe commercially well conceptualised souvenir-shopwithin the PUO Vukova Gorica, which represents a stepforward by its appearance, offer and service, raising thisconcept to a higher level.By orienting themselves towards consumers, theirwishes and needs, <strong>Ina</strong>’s petrol stations demonstratetheir dominant position in this type of retail channel. Bycontinuous promotions, prize competitions and tastings,INA attracts customers to a pleasant visit and return.During 2007, the total sales of refined products on theCroatian market amounted to 1,160,000 tonnes andrepresent 3.4 % increase in comparison with plannedsales, while in comparison with the previous year theyincreased by 0.8%.Fuel sales (gasoline and gas oils) accounted for 97.5 % ofthe total sales, whereas the share of non-fuel productswas 2.5%. In comparison with the previous year, share Volume of sales by product group in 2007.Struktura koliËinske realizacije u 2007. u 2007.of gas oils sales in total sales increased, while the saleof motor gasoline decreased. Due to changes in car fleetstructure and market adjustment, the trend of increasedsale of fuels of European quality continues.The assortment of consumer goods was defined by morethan 2,400 different products on Petrol stations. In 2007,their sales accounted for HRK 565.2 million (withoutVAT), which was a 6% increase over 2006. The margin onconsumer goods was 8% higher than last year.The offer was expanded by some additional products andUNP UNP 2,2% 2,2%Lubricants 0,3% 0,3%Gas Gas oils oils 58,2% 58,2%Motor Motor gasoline gasoline 39,3% 39,3%48 Business activities
Strateπko pertnerstvoIn 2006 two new petrol stations were built and put intooperation: PUO SpaËva and PUO Vukova Gorica. The letteris the biggest petrol station in Croatia, located on mainroutes towards Rijeka and Split, on the 56th kilometre ofthe highway from Zagreb, and is one of <strong>Ina</strong>’s businesscateringfacilities of the newest generation.The Sisak-ZagrebaËka, –akovo-Nazorova and Labinpetrol stations underwent capital reconstruction, andPS Borki, PS Zadvarje, PS Koπka, PS Novalja ©pital andPS Kneæevi Vinogradi underwent modernisation inline with INA’s already recognised visual identity. Apartfrom selling motor fuels, all the petrol stations havemodern shops selling consumer goods and auto-bars, aswell as additional programmes developed pursuant tocustomers’ demands.Investment activities continue to bring further technologicaland safety improvement at petrol stations (visual identity,information technology, implementation of SAP system,installation of video surveillance, alarm systems, safes,etc.) Special emphasis is put on environmental issues andresponsible behaviour towards nature.The Card business sector accounted for 50.24% of thetotal retail revenues by charging INA card and othercards on retail points. The service of toll payment by INAcard on domestic highways was expanded to the Zagreb-Macelj highway.The strategic goal of the Retail Division is to strengthenthe INA brand by an aggressive upgrading of the retailnetwork, through relationships with both partners andthe general public, primarily focusing on the buyer.Achievement of these goals will enable INA to remain a seriouslading retail company in wider regional surroundings.Annual report 200749
- 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
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- Page 51: All business processes of the Secto
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- Page 57 and 58: Financial results
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- 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
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- 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
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Where an impairment loss subsequent
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Deferred taxDeferred tax is recogni
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The effective interest method is a
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Furthermore, the time determined fo
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3. Sales revenueRevenue represents
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7. Finance costsINA GroupINA d.d.20
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9. Earnings per shareINA Group2007
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) By asset typeINA GroupOil and gas
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) By asset typeINA d.d.Oil and gasp
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I) Oil and gas reservesThe ability
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13. Investments in subsidiariesBasi
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14. Investments in associates and j
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17. Available-for-sale assetsCompan
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19. Receivables from buyers, netINA
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22. Paid expenses of the future per
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25. Liabilities to suppliers, taxes
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Averageweightedinterest rateAverage
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was contracted with a 5-year expiry
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INA GroupINA d.d.2007 2006 2007 200
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o podjeli proizvodnje - UPP) on the
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The change of the present value of
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34. Retained earningsINA GroupRetai
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By business segmentsINA d.d.Researc
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By business segmentsINA GroupResear
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By business segmentsINA d.d.Researc
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By geographical areasINA d.d.Republ
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Income from sale of goodsand servic
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Income from the sale of products to
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ond, exploratory and confirmatory w
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39. Unforeseen obligationsInvestmen
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Goals of financial risk managementT
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was valid throughout the year. An i
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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