Financial Results 2018

Source Press Release
Company INA Group 
Tags Refining & Marketing Activities, Capital Spending, Strategy - Corporate
Date February 21, 2018

INA: net sales revenues increase by 20% in 2018

Key achievements

  • INA Group’s EBITDA amounted to HRK 3,489 million, 3% more than in 2017
  • Net sales revenues increased by 20% and amounted to HRK 22,349 million
  • CAPEX amounted to HRK 1,817 million, 30% more than in 2017
  • Operating cash flow increased by 10%

Zagreb, February 21, 2019 – In 2018, INA Group net sales revenues increased by 20% compared to 2017. The positive result was driven by growth in all segments, utilizing higher hydrocarbon price and sales. At the same time, EBITDA remained at the last year level, with CCS EBITDA excluding special items of HRK 3,116 million. Profit from operations increased by 19% compared to 2017 and amounted to HRK 1,687 million.

Exploration and Production EBITDA excluding special items grew by 23% to HRK 3,014 million, with significantly higher realized hydrocarbon price which compensated the mature structure of assets and 7% decrease in hydrocarbon production. CCS EBITDA of Refining and Marketing including Retail excluding special items was at HRK 286 million in 2018, which is HRK 581 million lower compared to 2017, with negative simplified free cash flow of the segment amounting to HRK (784) million, underlining the need for the execution of the INA Downstream 2023 New Course program.

Source: EvaluateEnergy® ©2022 EvaluateEnergy Ltd