Transilvania Broker, an insurer listed on the Bucharest Stock Exchange, posted RON130 million revenue in 2022, up 31%, and a net profit of RON11.5 million, up 68%, according to the financial report published on Tuesday evening.
The Soleadify project, launched by Dataworks Research SRL, which develops a global database of companies to help businesses find customers, has secured a $6 million investment from five investment funds.
Romanian company System Innovation Romania, an integrator of end-to-end business software solutions, has overshot the EUR2 million turnover mark at the end of 2022, up nearly 20% from 2021, company reps said in a statement.
The private pension funds operating on the mandatory segment in Romania (Pillar II) reported record assets of RON100.2 billion in January 2022, being the first time Pillar II funds have overshot the RON100 billion asset mark, as per data released by Romania’s Financial Supervisory Authority, or ASF.
Drywall products maker Etex Building Performance (Siniat Romania), part of Belgium’s Etex Group, has appointed Cristian Moldovan to the position of industrial director.
Law firm bpv Grigorescu Stefanica advised Bucharest-based software and infrastructure company INCRYS on acquiring USOURCE, an IT services company based in Cluj-Napoca.
Parcel delivery company DPD Romania, one of the largest courier services companies in Romania, had a turnover of EUR71 million in 2022, up 8% from 2021.
Investment company Encore Capital Trust (ECT) raised more than RON25 million (approximately EUR5.1 million) in the first six months in business, making 170 acquisitions, with an average annualized return of over 20%, the company said.
Eduard Burghelia, the entrepreneur who created Confidas.ro, a platform that analyses the financial risk of companies, has sold the business to a similar platform called Termene.ro.
Liberty Galati announced on Tuesday (Feb 21) that it would restart Blast Furnace No. 5 in mid-March 2023 against the backdrop of market recovery in Europe supported by improvements in input costs and pricing.
Tire and inner tube distributor Nexxon, headquartered in Targu Secuiesc (Covasna County), expects a turnover of RON211 million (almost EUR43 million) in 2023, flat on the year, as per company data.
In 2022, increases in corporate utility bills were contained, due to government interventions and the long pass-through from wholesale energy prices to retail contracts, which are for the most part not fully indexed.
Online stores in Romania saw a 12.5% increase in the number of orders placed by buyers and a 22% advance in sales value in 2022 compared to 2021, as per an analysis by MerchantPro – the Saas solution platform for e-commerce.
Danish-held mineral wool manufacturer Rockwool is looking into the possibility of expanding its local business by building a new mineral wool production line, in the plant it has in Aricestii Rahtivani, near Ploiesti, in southern Romania.
Sales of French retailer Carrefour grew by 9% on a like-for-like basis in Romania in 2022, which is the second highest growth rate in Europe, after that in Poland.
Insurance-reinsurance brokerage Millenium Insurance Broker (MIB), a company majority held by mobility network Autonom Services, with bonds listed on the Bucharest Stock Exchange, is getting ready to list its shares on the local capital market at the end of February 2023, according to market sources.
Libra Internet Bank and Oradea-based real estate developer Prima Development Group have concluded a financing agreement worth EUR16.8 million for the construction of Phase 1 of the PRIMA Vista project located in the northern part of capital city Bucharest, in the vicinity of the most important business center in the capital.
New car registrations in Romania grew by 31.4% year-over-year to 12.266 units in January 2023, placing the country 14th in the European Union (EU), data from the European Automobile Manufacturers Association (ACEA) and the association of automotive manufacturers in Romania (ACAROM) showed on Tuesday (Feb 21).
Starting Wednesday, February 22, 2023, investors on the Bucharest Stock Exchange will be able to trade a new fund that tracks an index of the stock market (an exchange traded fund - ETF), namely the ETF Energie Patria -Tradeville.