INA’s Profits Plummet in First Quarter

ZAGREB, April 28, 2018 – Revenues of the INA Group in the first quarter of 2018 amounted to 3.7 billion kuna, down 3% on the year, while net profit was a mere one million kuna, which is a significant drop compared to 199 million kuna generated in Q1 2017, according to a financial statement released on Friday.

The group’s revenues in the first quarter remained the same as last year, at 3.7 billion kuna.

Earnings before interest, tax, depreciation and amortization (EBITDA) amounted to 481 million kuna, down 25% on the year. CCS (current cost of supplies) EBITDA was down 7% to 482 million kuna.

At the same time, the group’s net debt was reduced to 1.254 billion kuna with a debt to capital ratio dropping below 10%.

 

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