Romania Feed

Port operator Comvex Constanta (CMVX.RO) ended the first half of 2023 with a net profit of RON103.8 million, up 100.7% from the same period of 2022, as per the company's half-year financial report.

Spirits producer Prodvilanco (VAC.RO), listed on the Bucharest Stock Exchange, reported a net profit of RON7.8 million for the first half of 2023, 13.5% higher than the level reported for the same period of 2022, as per the company's latest financial report.

Technology company 2Performant Network, the leading affiliate marketing company in Romania, cut its losses from RON869,681 in 1H/2022 to RON577,143 in the first half of 2023.

The overall turnover of Romania’s 20 largest agricultural cooperatives in 2022 reached RON1.82 billion, 30% higher than in 2021, in line with ZF calculations based on data provided by BRIDGE-to-INFORMATION, a data analysis platform.

Kuwait’s Alshaya group in 2022 generated turnover worth RON57 million in Romania from fashion and cosmetics, given that it operates Victoria’s Secret and Bath & Body Works franchises locally.

Building materials maker TeraPlast Bistrita (TRP.RO) has announced in a stock market report that in the meeting of September 14, 2023, its Board of Directors has elected Dorel Goia as Chairman of the Board, for a four-year term.

2B Intelligent Soft (Bento, Intellectually Curious, a Romanian entrepreneurial company specializing in the development and implementation of software solutions and a provider of IT infrastructure and cloud services, has informed the capital market in a report about the conclusion of a significant contract with a multinational oil&gas company.

Arctic Stream (AST.RO), an IT infrastructure and security integrator, ended the first half of 2023 with a turnover of RON62 million, up 125% on the year, the company said in its half-year financial report.

Accenture, a company specializing in management consulting services, technological and outsourcing sources, has appointed Raluca Burghelea to the position of Country Managing Director of Accenture Romania, company representatives said in a statement.

The sale of OTP Bank Romania – submission of final bids, choosing a winner – has been pushed from September into October and those still in talks are Banca Transilvania and Raiffeisen Bank, after EximBank signaled it would back out, banking sources told ZF.

Romania's Finance Ministry raised RON623 million from banks on Thursday (Sept 14) selling treasury bills maturing in 2024, at an annual average yield of 6.21%.

Romania's finance ministry on Thursday (Sept 14) announced that a new issue of Fidelis government bonds for retail investors would launch on September 18, 2023.

The Board of Directors of real estate developer One United Properties (ONE.RO) has decided to implement the share buyback program shareholders approved in April.

Corrugated cardboard manufacturer Vrancart Adjud (VNC), a company in which the Paval brothers, the founders of DIY retailer Dedeman have a 17.16% stake, said in a stock market report that it completed the share capital increase operation and attracted RON48.9 million from investors in the two stages.

Germany’s Rewe Group, one of the most powerful retailers in Europe, which owns discount store chain Penny Market in Romania, is aiming for EUR2 billion sales a year on this market soon, CEO Lionel Souque says.

Roca Industry (ROC1.RO), a construction material holding company, has notified the Bucharest Stock Exchange of the sale by Board of Directors member Mihai Birliba of 300,000 shares for RON7.2 each.

An integrated team of advisors specialized in transactions from PwC Romania has provided tax, accounting and IT assistance services for Alpha Bank Romania during the process of acquiring the retail operations (namely, the mobile payment application, products and client portfolio) of Orange Money Romania.

Romanian state-run port operator Oil Terminal (OIL.RO) on Thursday (Sept 14) announced in a stock market report that it signed an association agreement with Iulius Real Estate, a real estate development company held by businessman Iulian Dascalu, with a view to carrying out a EUR815 million project of urban regeneration and development in the city of Constanta (southeastern Romania).

certSIGN, a Romanian IT&C company and a leading producer of cryptographic solutions in Romania, announces the integration of Paperless, its remote qualified electronic signature service, into the Adobe Acrobat Sign platform for the signing of electronic documents.

Over 56,000 new limited liability companies (LLCs) have been registered from the beginning of 2023 until present, as the small business sector in Romania has traditionally been highly dynamic, with tens of thousands of LLCs established each year, according to data published by the National Trade Register Office (ONRC).