Ina-industrija Nafte D.d. · ZSE:INA
Ina-industrija Nafte D.d — INA, d.d. — Shareholder Meeting (June 2015)
12 slides from Ina-industrija Nafte D.d's shareholder meeting presentation, Jun 12, 2015
Slide 1: INA's business results in 2014
INA’s business results in 2014 Annual General Meeting of INA, d.d. Zagreb June 12, 2015 1
Slide 2: Significantly improved operational and safety performance
Significantly improved operational and safety performance 2011 2012 2013 2014 72% 70% 66% 67% WHOLESALE MARKET SHARE CROATIA 198 176 120 MODERNIZED FILLING STATIONS 46 (CUMULATIVE) 8 7 WELLS DRILLED IN 4 CROATIA 1 4% -2% -3% DOMESTIC OIL PRODUCTION -6% cHANGE % LTIF= Lost time injury 2.6 frequency 2
Slide 3: Highlights of INA's business performance in 2014
Highlights of INA’s business performance in 2014 ACHIEVEMENTS CHALLENGES Improving health, safety and environmental Regulatory hits impacted INA’s 2014 performance with INA Group LTIF (Lost results by HRK 1.1 bn – o/w more than Time Injury Frequency) decreasing to 1.5 HRK 750 million on Upstream fro
Slide 4: INA's response to the unfavourable external environment
INA’s response to the unfavourable external environment CHALLENGES RESPONSES Doubled royalty – HRK 223 mn Temporary stability measures were enacted to REGULATORY HITS Forced sales of gas inventory – HRK 270 mn limit taking further financial commitments Gas price regulation – HRK 260 mn INA’s managem
Slide 5: Realizing robust investments despite regulatory challenges
Realizing robust investments despite regulatory challenges Investments of INA Group HRK mn 201 329 Upstream Croatia Downstream 314 International 1,048 Other 1,490 Majority of CAPEX invested in Croatia, mainly in the Upstream segment Regulatory changes did not stimulate investments – despite this, th
Slide 6: INA – One of the largest Croatian investors with the highest reinvestment ratio
INA – One of the largest Croatian investors with the highest reinvestment ratio Reinvestment ratio Reinvestment ratio & investments of key Croatian companies - CAPEX/EBITDA, % CAPEX/EBITDA, %; HRK mn (right axis) 80% 2.500 60% 2.000 1.500 40% 66 1.000 55 20% 500 66% 48% 41% 40% 0% 0 2013 2014 INA Ag
Slide 7: Corporate social responsibility in 2014
Corporate social responsibility in 2014 DONATION AND SPONSORSHIPS AWARDS INA provided assistance and support to: CORPORATE GOVERNANCE Flooded areas in Slavonia AWARD – by World Finance Sisak and Rijeka local communities magazine Children, youth and people with special needs Cultural and educational
Slide 8: Financial results
Financial results INA Group EBITDA CCS operating profit excl. special items Net profit excl. special items HRK mn HRK mn HRK mn Effect of regulatory changes in 2014 (not included in special items)* +15% -30% 953 946 1,010 1,157 3,678 -16% 602 2,580 2,013 1,691 344 20132013 20142014 2013 2014 2013 20
Slide 9: 2014 business highlights – Exploration & Production
2014 business highlights – Exploration & Production EBITDA Exploration and development wells in Croatia (HRK mln) 4,492 2 1 Revoked 753 1 concessions 1 4 4,825 6 3,739 5 5 2 2 1 1 1 2013 2014 2009 2010 2011 2012 2013 2014 development offshore development onshore Reported Regulatory effects explorati
Slide 10: 2014 business highlights – Refining & Marketing (inc. Retail)
2014 business highlights – Refining & Marketing (inc. Retail) CCS EBITDA excl. sp. items Wholesale sales structure Retail segment sales (kt) (HRK mn) 2013 2014 37,8% 36,2% 1,019 -2.5% 994 +2.9% 48,5% 51,4% (168) -1.3% 13,7% 12,4% (554) 2013 2014 2013 2014 Black products Middle distillates Other R&M
Slide 11: Overview of the downstream environment
Overview of the downstream environment Croatia: recession is still present GDP growth in different country groups and Croatia (%) Refined product demand in the region and Croatia 8 120% 2007=100% 6 110% 4 100% 2 0 90% -2 80% -4 -6 70% -8 60% 2007 2008 2009 2010 2011 2012 2013 2014 2007 2008 2009 201
Slide 12: Financial position improved further
Financial position improved further Operating cash flow Net indebtedness (left axis, HRK bn) (HRK bn) and gearing ratio (right axis, %) 12 50 45 10 40 35 8 30 6 25 4.5 3.7 3.9 20 3.3 4 15 1.8 1.6 10 2 5 0 0 2009 2010 2011 2012 2013 2014 2009 2010 2011 2012 2013 2014 Compensating the effect of advers