Ina’s net loss in the first quarter amounted to 14.2 million euros, according to data from the unaudited consolidated report published by Ina on Thursday. The company’s total revenues in the first three months of this year were 791.6 million euros, which is 4.4 percent lower than 828 million from the first quarter of last year.
Total expenses increased by 11.8 percent, to 808.6 million euros.
CCS EBITDA of the Ina Group, excluding one-off items, in the first quarter amounted to 23 million euros, which is a stark contrast to the result of the first quarter of 2022, which was 130 million euros.
In addition to the negative impact of regulation, this change is primarily related to the downward trend in hydrocarbon prices in the first quarter, Ina stated.
– After 2022, which was marked by sharply rising energy prices, 2023 has been characterized by a high level of market regulation in many countries. Despite external developments and an extremely regulated environment, with a sense of obligation, we have managed to deliver what we consider our strategic responsibility, which is to ensure a continuous supply for our customers. At the same time, we continue with one of the most intensive investment periods in Ina. Maintenance work at the Rijeka Oil Refinery is proceeding as planned, with production set to commence during the second quarter of 2023. The secure supply of the market has not been jeopardized at any time, regardless of operations at the refinery, and the commencement of production will further strengthen supply capabilities – stated among other things, the President of Ina’s Management Board, Péter Ratatics.
