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INA-Industrija nafte (INA) investor relations material
INA-Industrija nafte Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved strong financial and operational performance in H1 2026, with EBITDA up 87% year-over-year to EUR 308.9 million, driven by favorable external environment and increased production in Exploration and Production.
Rijeka Refinery Upgrade Project reached mechanical completion, with start-up activities on track, enhancing refining capabilities and competitiveness.
Advanced low-carbon strategy with Croatia's first commercial green hydrogen facility at Rijeka Refinery, including photovoltaic plant completion and ongoing electrolyser installation.
Financial highlights
Net sales revenues rose 21% year-over-year to EUR 2,229.5 million in H1 2026.
Profit for the period attributable to owners increased 168% to EUR 145.6 million.
Basic and diluted EPS grew 168% to EUR 14.6.
Net debt increased 6% to EUR 479.3 million, with net gearing at 22.8%.
Total assets reached EUR 3,924.6 million, up 13% from year-end 2025.
Outlook and guidance
Continued focus on operational excellence, investment, and efficiency to support long-term development and value creation.
Ongoing investment in sustainable energy solutions and decarbonization initiatives.
- Revenue up 4% but profit down 39% as gas prices fell; refinery and retail segments improved.INA
Q2 2024 - EBITDA and net profit grew 5% year-over-year, with strong investment and higher net debt.INA
Q3 2024 - EBITDA and net profit declined year-over-year, but investments and retail margins remained strong.INA
Q4 2024 - Net profit jumped 197% on 14% higher revenue, with strong gas and retail performance.INA
Q1 2025 - Revenue and profit increased in H1 2025, with strong retail and gas performance and lower investments.INA
Q2 2025 - Revenue up 1%, net profit down 15%, with strong retail and nearing refinery upgrade.INA
Q3 2025 - CCS EBITDA rose 11% to €521M in 2025, with stable profit and major refinery upgrade nearly complete.INA
Q4 2025 - Revenue and EBITDA fell, but production and capital investments rose, with refinery upgrades completed.INA
Q1 2026
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