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Bucur Obor (BUCU.RO), which manages the shopping center by the same name in Bucharest, has exchanged a plot of land of 5,862 square meters for 50 apartments and 66 parking spots of 3,784 sqm from the portfolio of real estate developer Novum Business Invest.
Romania's car production returned in January 2024 to the level before the Covid-19 pandemic, for the first time in the last five years, as per data from the country's carmakers association ACAROM.
Transavia, a leading poultry producer in Romania, which was founded 33 years ago by entrepreneur Ioan Popa, ended 2023 with a turnover of over RON1 billion (nearly EUR202 million) and expects its turnover and profit to double until 2026.
Romanian fiber optic cable producer Romcab Targu Mures (MCAB.RO) reported net profit of RON16.2 million for 2023, down 76.3% vs 2022, and a turnover of RON477.1 million, down 74.6% on the year, in line with calculations by Ziarul Financiar (ZF) daily based on data from the company's annual preliminary financial report.
Arctic Stream (AST.RO), an IT infrastructure and security integrator, ended 2023 with a 35% increase in its net profit and a 54% surge in revenue versus 2022.
Hungarian construction company Kesz, which has built several plants and real estate projects in Romania, is set to develop its first own residential project in Romania.
Shipbuilder Santierul Naval Orsova has sealed a new commercial contract, worth EUR3 million, for the construction and delivery of a river vessel for Netherland’s Rensen-Driessen Shipbuilding.
While the average hotel occupancy level across the CEE-6 capitals – including Bucharest, Bratislava, Budapest, Prague, Sofia, and Warsaw – in 2023 lagged 2019 by 9%, the ADR surpassed it by 23%, resulting in a 12% RevPAR growth, according to data from the real estate consulting company Cushman & Wakefield.
Cybersecurity company Safetech Innovations (SAFE.RO) reported a turnover of RON31.1 million, at an individual level, down 11% compared to 2022, and net profit of RON9.7 million, down 5% on the year, as per the company's preliminary financial results published at the Bucharest Stock Exchange on Tuesday (Feb 27).
Aro-Palace (ARO.RO), the company that manages two hotels in Brasov, reported net profit of RON35.2 million for 2023, compared to a loss of RON708,200 in 2022, and revenue of RON80.5 million, up 125% vs 2022, in line with calculations by Ziarul Financiar (ZF) daily based on data from the company's annual preliminary financial report.
Aquila Part Prod Com, the market leader in the field of integrated distribution and logistics services for consumer goods in Romania and the Republic of Moldova, has got the greenlight from the Competition Council to take over Romtec Europa and has finalized the deal totally worth EUR3.2 million.
Dental clinic network Dr. Ardeleanu has opened a stomatology center in Calarasi in the wake of a EUR700,000 investment, only four months after the company opened a similar unit in Slobozia.
Romanian company TARA Interactive, specialized in software development, ended 2023 with turnover worth above EUR1.2 million (at group level), up 15% from the previous year.
AROBS Transilvania Software, the biggest tech company listed on the Bucharest Stock Exchange, has fully acquired Infobest group, specialized in the development of customized software solutions, with offices in Timisoara and Leverkusen, Germany.
One United Properties, the leading green developer of residential, mixed-use and office real estate in Romania, reported preliminary consolidated turnover worth RON1.5 billion for 2023, up 30% from 2022.
Financial analysts part of CFA Romania association estimate the Romanian currency will fall to an average exchange rate of 5.0416 units/euro in the next 12 months, while the expected rate of inflation will register an average value of 5.57%, a 20-month low.
Hidroelectrica, Romania’s largest energy producer, in 2023 registered revenues worth RON12.2 billion, up 30%, and net profit of RON6.33 billion (EUR1.2 billion), 42% above the 2022 level.
Romanian state-owned port operator Oil Terminal (OIL.RO) has budgeted net profit of RON15.7 million for 2024, up 9.8% from the net result anticipated for 2023, and also expects total revenue of RON392.7 million, up 10.3% from 2023.
Alexandrion Group, the largest producer and distributor of spirits and wines in Romania by turnover, has announced the signing of a joint venture with the casa tequilera ‘Casa Aceves’ based in the Highlands of Jalisco, the main tequila-producing area in Mexico.19990 items