INA Net Income Climbs 47% in 2022

Figures

Net income of Croatian oil and gas company INA, a unit of Hungary's MOL, rose 47% to HRK 1.9 billion last year, news agency MTI writes, citing an earnings report released on Thursday.

Net sales revenue climbed 57% to HRK 35.1 bln.

Revenue of INA's upstream business increased 73% to HRK 6.7 bln, and the segment's operating profit jumped 154% to HRK 3.9 bln. Downstream revenue rose 57% to HRK 34.4 bln, but the business, "highly impacted by regulatory limitations", booked a HRK 0.3 bln loss.

MOL holds just under 50% of INA's shares but exercises management rights in the company. The state of Croatia is the other big stakeholder in the company.

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