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Under the pressure of the pandemic and the economic tensions generated by the crisis in Europe, Romania’s chief executive officers (CEOs) must find ways to keep their companies in balance, from reshaping portfolios to redefining their organization’s entire ecosystem.
Following its Annual General Meeting of Members (AGM), held on March 23, 2022, the American Chamber of Commerce in Romania (AmCham Romania) has announced its new Board of Directors for the March 2022 – March 2023 mandate.
Smartree Group, the strategic partner that offers integrated human resources services and software solutions, on Tuesday said it ended 2021 with a turnover of RON123 million, up 17% on the year, and a profit of RON5.3 million, up 35% from 2020; the increase is partly due to the new technology innovation division of for HR processes.
The Bucharest Stock Exchange announced that Brikston Construction Solutions returns on the capital market as an AeRO Listed Company on Tuesday, March 29.
Financial analysts expect the Romanian leu will depreciate to an average of 5.1029 units to the euro in the next 12 months, while inflation is seen averaging 7.28% during the same period, a monthly poll by CFA Romania showed Tuesday.
Destine Holidays, part of Destine Holding, a group of firms with EUR130 million turnover, controlled by Romanian entrepreneurs, plans to open three new branches by end-May and thus reach 12 units, but the company’s representatives plan to increase their number fourfold by 2024.
Sergiu Cadar, CEO of Somproduct, a local furniture and home décor retailer, says the company is betting on expansion during this period, both with the aid of physical stores and via online platforms.
Turkish-held Tosmur Grup, a group with farming activities, has invested EUR78 million in building a starch plant in Medgidia on a ten-ha area, set to employ 200 people.
Sonimplex Topoloveni, the company that owns Magiun de Topoloveni brand, carries out its entire production in Topoloveni and has invested over EUR1 million in its current warehousing and production capacities.
The EUR5 million investment plan Czech group Packeta announced in Romania for 2022 is likely to suffer some changes amid the Ukrainian war and its fallout, said Alexandr Jeleascov, CEO of Packeta Romania.
Hidroelectrica, Romania's largest electricity producer and the most profitable state-owned company, has budgeted total revenue of RON7.4 billion for 2022, up 11% from 2021, while net profit is estimated at RON2.9 billion, down 8% from RON3.16 billion in 2021.
Romanian e-commerce platform Gomag recorded more than EUR2 million revenue at the end of 2021, up by about 45% compared with the previous year, and expects similar growth in 2022, the company said in a news release.
Romania’s Finance Ministry reopened a bond issue due in January 2028 and raised RON363.5 million from banks on Monday, RON163.5 milion more than the planned RON200 million, at an annual yield of 6.29%.
Pharmaceutical manufacturer Biofarm (BIO.RO) expects 16% higher revenue compared with RON239 million of 2021, as well as 15% higher EBITDA from about RON82 million last year.
Insolvency specialist CITR has sold RON13.15 milion (more than EUR2.6 million) worth of agro-industrial assets to Cerealcom Bacau, a member of the agribusiness group Pambac, the company part of the Impetum Group said.
Technology start-up investment platform SeedBlink announces that it has opened its first branch outside Romania in Sofia, Bulgaria, as part of its expansion strategy.
Romanian business managers for the March-May period expect moderate activity growth in the processing industry, in parallel with a steep price increase in industry, constructions and trade, while the number of employees in industry, constructions and services will stay relatively stable, showed a survey by Romania’s statistics board.
Cegeka Romania, the local division of Belgian IT solutions provider Cegeka, with EUR36.5 million turnover at end-2021, aims to reach 1,000 employees locally and seeks to recruit around 300 IT specialists.
Tarsincom, a private company established in 1996 for domestic and international passenger transport, controlled by Corneliu Lucescu, saw its turnover rise by 16% in 2021 from 2020, to RON36 million.
British paper packaging producer DS Smith, present in Romania with a plant in Zarnesti, Brasov county, has invested more than EUR200 million in Romania to bolster its production capacities.20681 items