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Healthcare, as one of the priorities, is practised throughregular medical examinations, constant medical checkupsof employees working in specific conditions, and bymedical treatment and rehabilitation of employees at thespecialised hospital for medical rehabilitation, Naftalan.In the January 1st - December 31st 2007 period, 122 onthe-jobinjuries occurred, representing a 14% decreasein comparison with 2006, but there were no injurieswith lethal consequences, nor professional illnesses. Thenumber of injuries at the Rijeka Oil Refinery, Sisak OilRefinery, Oio and Gas Exploration and Production, BusinessFunction and the Management also decreased.In April 2007 INA traditionally celebrated the World Day ofHealthcare and Occupational Safety with an array of expertlectures. Moreover, May - the Month of Fire Protectionwas celebrated. On the occasion of the 13th fire protectionmonth, several practical drills, evacuation and rescue drillstook place. Due to the nature of its business activity (basicand pertaining), INA pays special attention to this issuethrough, among other things, implementation of theAnnual Fire Protection Activity Plan.Healthcare and Occupational Safety costs in 2007Occupational safety HRK 2.559.000Fire protection HRK 74.580.000Intellectual services of Occupational safety HRK 2.900.000Total HRK 80.039.00024 Business report
Quality managementSince the 1990s we have been continuously developingthe quality management system and we meet therequirements of ISO 9001 standards, as is attested by ourholding numerous certificates by accredited independentbodies for core processes of the company.At the beginning of 2000, the Company Managementdecided to change the management philosophy. A unifiedbusiness management system was developed, which isbasically an integrated business management systemdefined as a system based on the rules of the Company,laws, rules of profession and requirements of ISO 9001, ISO14001 and OHSAS 18001 standards and other standards inline with business decisions.Since 2005, we have been re-confirming the unifiedbusiness management system on the corporative level bythe certificate we have been continuously maintaining. In2007, the business policy of Ina Management determinedthe development of the IT safety management system,which is being developed and integrated into the existingmanagement system. With the integration of thebusiness management system we have upgraded andachieved improvements in the transparent managementof processes, measuring and illustrating indicators ofbusiness results, measuring customer satisfaction andmany other aspects.The commitment of INA, d.d. to continuously upgrading itsbusiness processes and the quality of its business activitywas confirmed by the introduction of the SAP system in2006, which resulted in harmonisation of documentswith redesigned processes. Ending 2007, the INA, d.d.Process Model project was re-launched after being at astandstill due to changes to its processes resulting fromintroduction of SAP. The goal of the project is to carry outthe revision of INA, dd. Process models pursuant to thestandard of process modelling at Ina.management system is adequate and efficient and that itachieves the goals set.Standardisation and metrologyFor many years now INA, d.d. has been developing andupgrading internal standardisation on the corporativelevel, aiming at the determination of unified corporativestandards. INA standards define the specification ofproducts and raw material quality, they standardiseelements of the company’s visual identity, rules andstandards in the area of business communication andstandards of identification characteristics.Standardisation Policy and Metrology Policy determinethe frame and guidelines for preparation of INA standardsand incorporation of quality demands of European andinternational standards into INA standards and metrologyprogrammes on principles of sustainable development.We have continuously participated in the drafting andpassing of regulations and standards in state institutionsof the Republic of Croatia for fields of interest for Ina d.d.,with the goal of protecting and promoting oil and gasindustry interests on the domestic and other marketswhere we conduct business.During 2007 we have harmonised Safety-Technical Sheetsof INA, d.d. products with the requirements of the newCroatian regulations and EU directive.The high index of customer satisfaction and loyalty toour products and services has confirmed that the qualityAnnual report 200725
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 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
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
Page 127 and 128:
22. Paid expenses of the future per
Page 129 and 130:
25. Liabilities to suppliers, taxes
Page 131 and 132:
Averageweightedinterest rateAverage
Page 133 and 134:
was contracted with a 5-year expiry
Page 135 and 136:
INA GroupINA d.d.2007 2006 2007 200
Page 137 and 138:
o podjeli proizvodnje - UPP) on the
Page 139 and 140:
The change of the present value of
Page 141 and 142:
34. Retained earningsINA GroupRetai
Page 143 and 144:
By business segmentsINA d.d.Researc
Page 145 and 146:
By business segmentsINA GroupResear
Page 147 and 148:
By business segmentsINA d.d.Researc
Page 149 and 150:
By geographical areasINA d.d.Republ
Page 151 and 152:
Income from sale of goodsand servic
Page 153 and 154:
Income from the sale of products to
Page 155 and 156:
ond, exploratory and confirmatory w
Page 157 and 158:
39. Unforeseen obligationsInvestmen
Page 159 and 160:
Goals of financial risk managementT
Page 161 and 162:
was valid throughout the year. An i
Page 163 and 164:
INA d.d. interest-free liabilities
Page 165 and 166:
42. Approval of the financial state
Page 167 and 168:
CROBENZ d.d. ZagrebRadniËka cesta
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