Romania Feed

Hotel group Bacolux, controlled by brothers Marius and Razvan Bazavan, ended 2022 with revenues worth EUR10 million, up almost 50% on the year.

Pinum Doors & Windows, part of Italy’s Nusco group, controlled by Nusco family, ended 2022 with revenues of above EUR22 million, up 30% from 2021 on the rising demand both locally and in Europe.

Calin Ilie, head of the Federation of Hoteliers in Romania, says the local market is expected to return to 2019 level this year, maybe even overshoot pre-pandemic figures.

Food supplements and tea producer Dacia Plant, with a 20-year history locally, will have a 40% bigger production capacity by yearend and the brands manufactured in Romania will also be exported on several new markets for the company.

Financial investment company Evergent Investments (EVER.RO) has called shareholders for April 27 to vote on the distribution of dividends of up to RON82.7 million or a gross dividend per share of RON0.09.

Turbomecanica (TBM.RO), a local manufacturer of gas turbine engines and mechanical assemblies for aircraft, has called shareholders for April 27, 2022 to vote on the distribution of a gross dividend of RON0.02301 from the RON12.2 million net profit of last year or RON8.5 million in all, the company said in a notification sent to the Bucharest Stock Exchange.

Romania’s Competition Council on Friday announced it had given the greenlight for the acquisition by MedLife of Centrul de Diagnostic si Tratament Provita.

An integrated team of specialists from PwC Romania and Greece and lawyers from D&B David si Baias, the partner law firm of PwC in Romania, assisted Greece’s Public Power Corporation (PPC) in buying the electricity production, supply and distribution assets of Italy’s Enel in Romania.

CEC Bank has granted an about RON40 million loan to Toneli Holding, part of the Toneli Group, the largest egg producer in Romania, guaranteed by EximBank, through the state aid scheme put in place amid the economic crisis generated by Russia’s aggression in Ukraine.

The main airports of Romania have investment projects worth above EUR530 million underway and investments of above EUR400 million will be shortly carried out in critical aviation infrastructure, amid rising passenger flows and strategic decisions to strengthen NATO bases in Romania, reveals an ONV LAW analysis.

Financial analysts part of CFA Romania Association forecast an average 8.62% inflation rate for the next 12 months and expect the local currency to decline to an average of 5.0390 units per euro.

Local startup easySales, which has set up an automated B2B management and e-commerce platform, has attracted new funding from Fortech Investments, which became a minority stakeholder.

Medical imaging clinic network Medima Health has reached five units nationwide in the wake of fast expansion and wants to grow further, targeting both large and small cities.

Adnana Popa, cofounder and CEO of homemade gelato shop chain Velocità, plans to strengthen its foothold in Bucharest and open another two shops.

Banca Transilvania, the biggest lending institution on the Romanian market by assets, expects to generate net profit of above RON2.3 billion this year, 7% above the 2022 level, as it projects rising revenues and lending.

DN Agrar Group, a Dutch-held group of firms operating in the fields of animal husbandry, farm production, farming services, logistics, transportation, tourism and advisory services, plans to develop its operations on the milk market in the future, arguing Romanians import around half of the milk consumed locally.

Romanian aluminum processor Alumil Rom Industry (ALU.RO) on Thursday (March 23) said it would convene its shareholders on April 24 to put to the vote a decision to distribute a gross dividend of RON0.2 per share.

Romania’s largest poultry producer, Transavia, seeks to double its production capacity in three-four years in order to exceed the threshold of 200,000 tons of poultry meat annually through major investments and acquisitions of new market players.

The Board of Directors of natural gas producer Romgaz’s (SNG.RO) convened on Thursday (March 23, 2023) and approved the extension of Razvan Popescu’s mandate as Chief Executive Officer (CEO) of Romgaz for two more months, from April 19, 2023 until June 19, 2023.

Romania's Finance Ministry raised RON500 million on Thursday (March 23) selling bonds maturing in April 2025, at an annual average yield of 7.09%.