INA Group reported a net profit of €35.4 million in the first quarter of 2025, marking a 197% increase compared to the same period last year. Net sales revenue rose 14% to €916.3 million, while clean CCS EBITDA excluding special items reached €88 million, up 38%. Capital investments totaled €33 million, slightly lower due to reduced spending in Refining and Marketing.

The Rijeka Oil Refinery Upgrade Project is now 94% complete, with full mechanical completion expected by the end of 2025. Net debt stood at €596 million, with a debt-to-equity ratio of 27%.

CEO Zsuzsanna Ortutay highlighted stable performance in oil and gas exploration, driven by higher gas prices and focused investments in Croatia to offset natural production decline. A new commercial gas discovery was reported at the Obradovci-5 well in the Drava-03 block. Geothermal drilling has also begun, marking a key step in INA’s shift toward renewable energy.

Despite external margin pressures, INA ensured secure winter fuel supply through continuous refinery operations. With the summer tourist season approaching, the company is preparing to meet significantly increased fuel demand across its retail network.

Ortutay concluded that INA remains strong both operationally and financially, and ready to face future challenges despite global economic and energy market uncertainties.