Financial Results H1 2021

Source Press Release
Company INA Group 
Tags Strategy - Corporate
Date July 29, 2021

INA Group results reflected improvement in external environment:

  • In H1 2021 external environment recovered, having a positive effect on INA Group results, but 2020 pandemic impact is still present.
  • Exploration & Production again became company’s biggest cash generator, although natural production decline continues.
  • Strategic investments such as the Rijeka Refinery Upgrade Project continue to move forward, while the capital investments in Refining and Marketing amount for more than half of total INA investments.
  • Key achievements:
  • Net sales revenues amounted to HRK 9,270 million
  • Profit amounted to HRK 534 million
  • EBITDA amounted to HRK 1,239 million
  • CAPEX amounted to HRK 609 million
  • Simplified Free Cash Flow amounted to HRK 448 million

 Zagreb, July 28, 2021 – Second quarter of 2021 has shown further improvement in external environment, with Brent prices well above USD 60 per barrel and CEGH gas price at 24 EUR per MWh. Product demand has increased close to pre-crisis levels in our core region, however the COVID-19 pandemic is not over yet, therefore economic recovery remains still fragile.

Source: EvaluateEnergy® ©2022 EvaluateEnergy Ltd