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INA, D.D. directors andmanagementGeneral AssemblyFor each INA General Assembly meeting, the Government of the Republic of Croatia, INA and strategic partner MOLappoint their representative or assignee.Supervisory boardIvan ©ukerZoltán ÁldottDamir PolanËec–uro DeËakTomislav IviÊLászló GesztiChairmanDeputy ChairmanManagement boardTomislav DragiËeviÊPresident of the BoardZalán BácsVice-president of the Board and Executive Director of Finance FunctionMirko ZeliÊMember of the Board and Executive Director of Oil and Gas Exploration and Production DivisionJosip PetroviÊMember of the Board and Executive Director of Refining and Marketing DivisionNiko PaulinoviÊ Member of the Board and Executive Director of Retail Services DivisionSándor LendvaiMember of the Board and Director of Corporate Services FunctionTomislav ThürMember of the Board and Director of Corporate Processes FunctionIntroduction
Tomislav DragiËeviÊ, President of theManagement BoardDr. sc. Tomislav DragiËeviÊ (56), doctor of chemical sciences,was appointed general director of INA in March 2000.From June 2000, following the implementation of the newArticles of Association, he became the president of theManagement Board. Prior to his appointment to this postDr DragiËeviÊ was Director of Strategic Planning and R&DSector, and before that Director of Refining. He joined INAin 1982 and before that he worked in the petrochemicalplant in Kutina as the head of processing unit. He graduatedfrom the faculty of Chemical Engineering, University ofZagreb. In 1984 he earned his master’s degree and in 1993his doctor’s degree in chemical engineering. Since 1995 hehas been a fellow of the Croatian Academy of Science andArt, Section IV - Petrochemistry.Annual report 2007
Page 3: Table of contentsIntroduction 5INA,
Page 7: Annual report 2007
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
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 and 76:
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
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9. Earnings per shareINA Group2007
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) By asset typeINA GroupOil and gas
Page 115 and 116:
) 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
Page 157 and 158:
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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