INA Group reported a profit of 140.9 million euros for the first nine months of 2025, excluding one-off items — a 15 percent decline compared to the same period last year. Net sales revenue rose slightly by 1 percent to 2.9 billion euros, while CCS EBITDA, adjusted for one-off items, increased by 7 percent year-on-year to 368 million euros.
Total capital investments reached 145 million euros, representing a 33 percent decrease compared to 2024, mainly due to reduced spending in the Refining and Marketing segment. The upgrade of the Rijeka oil refinery is now 98 percent complete, marking a major milestone in INA’s long-term modernization program.
Despite challenges such as lower hydrocarbon prices and a natural production decline, INA maintained strong overall performance across its business segments. The Customer Services and Retail division performed particularly well, driven by a successful tourist season, expanded non-fuel offerings, and continued investment in retail modernization and the Fresh Corner concept.
In the Refining and Marketing segment, product sales rose, and the Rijeka refinery operated at full capacity throughout the year. Alongside the modernization project, preparatory and research works have started on building a hydraulic barrier beneath the refinery — a major environmental protection investment.
In the Exploration and Production segment, INA continued implementing its production optimization program and made progress in strengthening its domestic gas portfolio. With signs of stabilization in Syria, the company has also taken initial steps toward a potential restart of operations in the country.
