Romania Feed

Only 10% of real estate companies in Romania expect decline in returns amid uncertainty regarding the evolution of the conflict in Ukraine, with players from Romania being the most optimistic in the region on this matter, according to the Deloitte Real Estate Confidence Survey for Central Europe 2023, conducted in three countries in the region, namely Poland, the Czech Republic and Romania.

More than four in ten Romanians believe that a hybrid system, with 3-4 days per week of work from the office, will dominate the year 2023, and more than a quarter rely on the system with 1-2 days per week at the office, as per a survey conducted by Genesis Property among 1,031 respondents nationwide.

Delgaz Grid, part of E.ON group in Romania, plans to attract, in the coming years, EUR700 million of European funds, to which around EUR1.5 billion of own funds will be added, to fund an extensive investment scheme to upgrade, expand, automate and digitalize electricity and natural gas networks.

Italy’s group Enel has announced it signed a contract with Greek-owned Public Power Corporation (PPC) for the sale of Romania assets, with the value of the deal standing at EUR1.26 billion.

Poland-held BLIK, which has developed a cashless payment system, has recently entered the Romanian market, the second largest market in Central and Eastern Europe.

Iasi-based SABS, specialized in software development, which started 2023 by opening an office in Bucharest, wants to continue expansion plans and targets countries such as Serbia, Macedonia, Albania, Moldova and the UK.

Piping Logistics, a Belgian producer of ventilation system components, is working to open, in the third quarter of 2023, a plant near Timisoara, with investments set to reach EUR3 million.

Rondocarton, part of Austrian group Rondo Ganahl, a major producer of corrugated cardboard, with three plants locally, ended 2022 with EUR130 million turnover, up from EUR110 million in the previous year.

Lagardère Travel Retail, which is part of French Lagardère group, which operates in travel retail and on-premise sector, is considering bringing Costa Coffee coffee shop brand as a franchise in Romania.

ROCA Industry (ROC1.RO), the first Romanian holding company of construction material makers, launched by ROCA Investments, notified Bucharest Stock Exchange investors that it expected RON18.3 million net profit, RON466.3 million revenue and RON64.5 million EBITDA, as per its spending and revenue budget

Romanian paint and coatings maker Köber based in Neamt County (NE Romania), the leader of its market, will inaugurate a research and development center near its plant in Dumbrava Rosie, Neamt. The new center was completed and will open soon.

Romanian producer of organic agricultural products, Norofert (NRF.RO) ended 2022 with a consolidated net profit of RON10.6 million, up 49.1% from 2021, and a turnover of RON77.4 million, up 57.9% on the year, as per data from the company’s Executive Board report published at the Bucharest Stock Exchange.

Law firm Nestor Nestor Diculescu Kingston Petersen (NNDKP) has promoted 25 lawyers and counselors to new roles.

Online card payments grew over 22% in 2022 on the eMAG platform, accounting for 56% of total sales at national level, but in Bucharest, Cluj and Ilfov the weight exceeded 60%, as per an analysis by online retailer eMAG.

Mexican Grupo Bimbo, one of the world’s largest bakery companies, officially announces its entry into the Romanian market following the acquisition of local company Vel Pitar from U.S. investment fund Broadhurst.

Among the European Union Member States, the highest economic growth in the fourth quarter of 2022 compared to the third quarter of 2022 was recorded by Greece (1.4%), Malta (1.2%), Cyprus (1.1%) and Romania (1%), data from Eurostat, the statistical office of the European Union, showed on Wednesday (March 8).

Romania's gross domestic product (GDP) grew by 4.8% in real terms (in unadjusted data) in 2022 as compared to 2021, provisional (1) estimates from the country’s statistics board INS showed on Wednesday (March 8).

Romanian state-owned energy utility group Electrica (EL.RO) on Wednesday reported a consolidated net profit of nearly RON560 million for 2022, compared to a loss of RON552 million in 2021, and revenue of RON10 billion, up 39% from 2021.

Agricover Holding, controlled by businessman Jabbar Kanani, is convening its shareholder for April 10 to approve the company’s listing on the Bucharest Stock Exchange via an IPO with a share capital increase of around 20%.

Vodafone, one of the largest players on Romania’s telecom market, has opened, in Magheru boulevard of Bucharest, its first store under the EasyTech concept, which proposes to clients more gadgets and an interactive retail experience, as part of the company’s strategy of repositioning itself on the market as a tech company.