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INA Group ConsolidatedIncome StatementFor the year ended 31 December 2007 (all amounts in HRK millions)Notes 2007 2006Sales revenuea) domestic 16,467 14,797b) exports 9,381 8,637Total sales revenue 3 25,848 23,434Income from own consumption of products and services 695 767Other operating income 619 606Total operating income 27,162 24,807Changes in inventories of finished products and work in progress (28) 116Cost of raw materials and consumables (13,029) (12,146)Depreciation and amortisation 4 (1,302) (964)Other material costs (2,676) (2,386)Service costs (1,141) (1,459)Staff costs 5 (2,581) (2,385)Cost of other goods sold (4,904) (4,073)Impairment and charges (381) (500)Provision for charges and risks (net) (100) (36)Operating expenses (26,142) (23,833)Profit from operations 1,020 97476 Financial report
Notes 2007 2006Investment revenue 6 746 620Finance costs 7 (633) (489)Net profit from financial activities 113 131Profit before tax 1,133 1,105Income tax expense 8 (262) (221)Profit for the year 871 884Attributable to:Equity holders of the parent 869 883Minority interest 2 1871 884Basic and diluted earnings per share (in HRK) 9 86.9 88.3Signed on behalf of the Group on 11 March 2008 by:Zalán BácsTomislav DragiËeviÊVice President of the Management Board &President of the Management BoardExecutive Director of Finance FunctionThe accompanying accounting policies and notes form an integral part of this consolidated income statement.Annual report 200777
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Table of contentsIntroduction 5INA,
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Annual report 2007
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Tomislav DragiËeviÊ, President of
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Josip PetroviÊ, Member of the Boar
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Scheme of macro-organizational stru
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Higher output in INA’srefineriesI
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Poslovno izvjeπÊeAnnual report 20
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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
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
Page 51: All business processes of the Secto
Page 54 and 55: 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
Page 63 and 64: Business environmentThe following f
Page 65 and 66: (“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: OpinionIn our opinion, the financia
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
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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
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