Romania Feed

Iproeb Bistrita (IPRU.RO), one of the largest local manufacturers of electrical cables and conductors, has informed the local capital market through a report about the finance ministry's decision to grant a state aid in the maximum amount of RON48.2 million.

UniCredit Romania has prolonged its lease agreement for the UniCredit HQ building in capital city Bucharest with real estate company Globalworth.

Romanian maritime port operator Socep Constanta has concluded a contract worth EUR10.4 million with Swiss company Bühler GmbH, Socep has announced the local capital market in a report released on Sept 12.

The Board of Directors of Romaero Bucuresti (RORX.RO), a strategic company for Romania’s aerospace and defense industry, has appointed Ionel-Daniel Butunoi as Chairman of the Board, following a decision of September 11.

Pharmaceutical producer Biofarm Bucuresti (BIO.RO) has sold a plot of land to the company Iancu de Hunedoara Residence SRL for approximately EUR5 million.

Druid AI, a startup developing AI-powered intelligent virtual assistants for companies, established by a team led by entrepreneur Liviu Dragan in 2018, has secured new funding – a series B round of $30 million.

Electronics devices producer Visual Fan (ALW.RO), which owns the Allview brand, ended the first six months of 2023 with a consolidated net profit of RON2 million, down 44.8% on the year, and a turnover of RON44.9 million, down 11% on the year, as per calculations by Ziarul Financiar (ZF) daily based on data from the company's half-year financial report published at the Bucharest Stock Exchange.

Alfa Software, a provider of IT systems for companies, ended the first half of 2023 with a turnover of RON8.4 million, up 44% from the same period of 2022, according to company representatives.

Federatia Patronala Petrol şi Gaze (the Oil And Gas Employers’ Federation) is strengthening its management team by appointing Daniel Apostol as its new general director.

Connections Consult, a group of companies specialized in providing software solutions and IT services, ended the first half of 2023 with a net profit of RON3.6 million, up 273% from the same period of 2022, and 27% higher than the level initially budgeted.

OMV Petrom (SNP.RO) shareholders starting with Austria’s OMV, which owns 51% in the company, on September 12 approved distribution of RON2.8 billion special dividends or RON0.045/share.

Almost half (41%) of respondent workers at companies across the globe say their workplace is where they feel the greatest sense of belonging, second to home, and yet, 75% report having felt excluded at work, according to the EY Belonging Barometer 3.0.

The average net salary in Romania decreased by 0.8% in nominal terms in July 2023 compared to June 2023, to 4,565 (EUR920), data from the country's statistics board INS showed on Tuesday (Sept 12).

Mozaik Investments, an investment fund launched in 2019, is set to get investments via PNRR worth as much as EUR25 million, to fund around 7-9 small and medium-sized companies, mainly from retail and wholesale, healthcare, food production and retail, logistics, financial services and technology.

Huennebeck Romania, a company active in the field of casing and scaffolding systems, part of a Germany group, has signed an agreement with ELI Parks, a major developer on Romania’s real estate, logistics and industrial market, to develop a production and logistics center within ELI Park Ploiesti.

CEC Bank ended the first half of this year with estimated, unaudited net profit of RON369.4 million, from RON110.8 million in 1H/2022, and assets worth RON69 million, up 29.4%.

Gral Medical, a major player on Romania’s private healthcare services market, ended the first eight months of 2022 with 22% higher turnover than in the same period of 2021, according to the company’s officials.

Maribo Prodcarn, the producer of Marisan cold cuts, owned by Anghel family, for 2022 reported turnover worth RON132.5 million (EUR26.9 million), up 13.4% from 2021, in line with ZF calculations based on Finance Ministry data.

Global technology and software company Emerson, part of the US Emerson Group, posted RON1.396 billion (EUR283.3 million) revenue in 2022, up 29.3% on the previous year, according to ZF calculations based on data from the Finance Ministry. Its profit halved to RON40.2 million (EUR8.1 million) from RON82.9 million (about EUR16.8 million) in 2021, according to public data.

Delaco Distribution, owned by the France’s Savencia Fromage & Dairy Group, posted RON559.3 million (EUR113.4 million) revenue in 2022, up 25.5% from the previous year’s RON445.7 million (EUR90.6 million), data on the Finance Ministry website show.