In 2024, INA Group recorded a net profit of €182.1 million, marking a 27% decrease compared to the previous year. Net sales revenues amounted to €3.88 billion, reflecting a slight 1% decline from 2023.
The company’s CCS EBITDA, excluding one-off items, stood at €469 million. Total capital expenditures reached €292.2 million, slightly lower than in 2023, with two-thirds of the investment directed toward refinery and marketing activities, including customer services and retail.
INA’s most significant single investment, the nearly €700 million Rijeka oil refinery upgrade project, has reached 92% completion. Due to ongoing investments, INA’s net debt increased to €482 million, resulting in a debt-to-equity ratio of 23%.
CEO Zsuzsanna Ortutay highlighted that an improved pricing environment in retail and wholesale helped strengthen INA’s financial stability in 2024. The completion of the Rijeka refinery upgrade will enhance crude oil utilization, leading to a higher share of marketable products, improved energy efficiency, and greater sustainability.
In exploration and production, INA focused on Croatia, achieving new commercial oil and gas discoveries on land. The company is implementing technological and operational measures to extend the life of existing fields, successfully minimizing the expected production decline. Maintaining profitable production remains a priority, with efficiency improvements at the core of INA’s strategy.
The company continues to invest in its retail network, and the non-fuel retail segment recorded strong financial growth, with a 30% increase in 2024 compared to the previous year.
Looking ahead to 2025, Ortutay emphasized INA’s commitment to strengthening its stability and achieving successful business results. The company will continue making strategic investments, focusing on both traditional and renewable energy sources to enhance resilience and ensure sustainable growth.
