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Stabilizing financial situation

Stabilizing financial situation

MOL has carried out a focused financial consolidation program that restored INA’s financial health and enabled it to carry out the investment programs necessary for the company’s long-term sustainable growth.

Thanks to MOL’s consolidation program, INA’s net debt decreased from a peak of HRK 11.3 billion (EUR 1.68 billion) in Q3 2010 to HRK 5.2 billion (EUR 0.7 billion) by 2013, while indebtedness (or gearing) ratio decreased from a dangerous 48% in Q3 2010 to a comfortable 27% in 2013.

As a result of these efforts INA today is in a much stronger financial position and has a significantly better operational efficiency than in 2009.