October 28 (SeeNews) - Croatian oil and gas company INA [ZSE:INA] said on Friday its consolidated net profit soared to 2.769 billion kuna ($366 million/368 million euro) in the first nine months of 2022 from 1.097 billion kuna in the same period of last year on the back of high hydrocarbon prices.
“Third quarter of 2022 brought continuation of worldwide energy market volatility, with gas prices oscillating and oil price at continued high level,” CEO Peter Ratatics said in a filing to the Zagreb bourse.
Higher prices impacted sales revenues positively by 2.601 billion kuna. Increased gas prices added 1.729 billion kuna positive effect, while 56% higher Brent price brought an additional 718 million kuna crude oil and condensate sales revenues with other products positive impact on revenues in the amount of 154 million kuna.
EBITDA amounted to 4.665 billion kuna, up 99% on the year.
Net sales revenue soared 68% to 27.2 billion kuna.
CAPEX spending more than doubled compared to the January-September period of 2021, reaching 1.9 billion kuna.
INA's shares last traded on the Zagreb bourse on Monday, ending flat at 3,500 kuna.
(1 euro = 7.530 kuna)
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