INA-Industrija nafte (INA) Q2 2026 earnings summary

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.