Romania Feed

Electronic components manufacturer Helbako Electronica, the Romanian subsidiary of Germany’s Helbako GmbH, posted about RON176 million (EUR35.6 milion) revenue in 2022, an increase of 37% on the RON128.4 million (EUR26.1 million) of 2021, ZF has calculated from Finance Ministry data.

Havi Logistics, one of the largest transportation and logistics companies in Romania and one of the largest operators in the world for quick service restaurant and convenience food brands, posted RON1,046 billion (EUR211.9 million) revenue in 2022, an increase of 37% on the previous year, ZF has calculated from Finance Ministry data.

Romania's Finance Ministry raised RON1.2 billion from banks on Thursday, July 13, selling government paper maturing in 2038, at an annual average yield of 6.64%.

Razvan Filcescu has been officially approved by Romania’s central bank to take over the role of Vice-President responsible for coordinating all business activities of First Bank.

Electricity and natural gas supplier E.ON Energie Romania, a company member of Germany's E.ON Group, has completed the construction and installation of three photovoltaic energy generation systems for the company AgranoLand, as part of a partnership concluded in 2022, with the investment value exceeding EUR1 million.

Raiffeisen Bank and Raiffeisen Asset Management are launching three new recurrent investment solutions of the SmartInvest series, which target investment funds Raiffeisen Euro Flexi, Raiffeisen Ron Flexi and Raiffeisen Romania Dividend.

Hidroelectrica (H2O.RO) shares ended the second trading session (Thursday, July 13) on the Bucharest Stock Exchange at the price of RON110 each, the same as in the listing day, which gives Romania’s largest electricity producer a capitalization of RON49.5 billion, Bucharest Stock Exchange data show.

The IRCC, which is used by banks to calculate interest rates for new loans taken out starting with the spring of 2019, is seen staying below 6% until the end of 2023 and reaching 5.96% in the fourth quarter of 2023 (computed based on data from the second quarter of 2023).

Romania’s industrial production decreased by 4.8% in unadjusted data in May 2023 versus May 2022 due to drops reported for the electricity, gas, steam and air conditioning supply (-12.3%) and manufacturing (-4.3%), data from the country’s statistics board INS showed on Thursday (July 13, 2023).

Romania's annual inflation continued to decrease in June 2023 reaching 10.3% compared to June 2022, data from the country's statistics board INS showed on Thursday (July 13).

The shares of Romania’s largest energy producer Hidroelectrica (H2O.RO) will be included, as of July 19, 2023, in FTSE Global All-World Index, FTSE Global Large Cap Index and FTSE Emerging Index, according to an announcement by the global index provider FTSE Russell.

Electronics retailer Flanco ended the first half of 2023 with RON600 million sales, up 30% from the year-earlier period.

US giant Google has today launched in Europe, inclusively in Romania and the Romanian language, Google Bard, an AI-powered conversational chatbot that competes with the already highly popular ChatGPT and has similar capabilities, but also additional functionalities, such as reading messages in Romanian.

Eldrive, the leading charging points operator in south-eastern Europe, aims to invest EUR174 million to expand the charging station network.

VOS Logistics Cargo, the local subsidiary of Dutch group VOS, for 2022 reported turnover of around RON510.6 million (EUR103.5 million), up almost 8% from 2021, in line with ZF calculations based on Finance Ministry data.

Solder paste and adhesive materials manufacturer Heraeus Romania, the local subsidiary of Germany’s Heraeus, in 2022 registered turnover worth RON396.2 million (EUR80.3 million), 36% higher on the year, in line with ZF calculations based on Finance Ministry data.

Elit, a major cold cuts producer in Romania, part of Smithfield group, for 2022 reported turnover of RON742.8 million (EUR150.6 million), up 16.5% from the previous year, in line with ZF calculations based on Finance Ministry data.

Romania’s insurers last year hit an all-time high in terms of total net profit, at RON773 million, double the 2021 level and more than 12 times higher than the 2020 one, in line with information published by Romania’s financial watchdog ASF in the report on the evolution of the insurance market in 1Q/2023.

Investment giants with assets of thousand billion dollars such as US fund BlackRock, Goldman Sachs, one of the biggest investment banks in the US, and the sovereign wealth fund of Singapore, each subscribed over EUR100 million in Hidroelectrica listing, according to sources close to the deal.

Franklin Templeton International, the manager of alternative investment fund Fondul Proprietatea (FP.RO), has summoned the ordinary general meeting of shareholders on August 18 to vote on approving the payment of a special dividend with a gross value of nearly RON1.5 per share from the retained earnings according to the latest available audited financial statements.