Romania Feed

Britain’s investment and real estate management fund First Property Group has completed the sale of Tureni Logistic Warehouse located near Cluj Napoca, with a total area of around 8,300 square meters.

Idea Bank, taken over by Banca Transilvania in 2021, in the first six months of this year posted operating revenues worth RON71 million, up 11%, and RON14 million operating income, down 27% from the same period of last year.

Wine maker Purcari Wineries in the first half of this year generated RON124 million revenues, up 16%, and net profit of RON20.8 million, 2% above the level of the year-earlier period.

Bittnet, a group of IT companies listed on the Bucharest Stock Exchange, reported RON70 million consolidated revenues for the first six months of this year, up 45% from the year-earlier period, but switched to losses of RON557,529, from RON1.5 million net profit in 1H/2021.

Romanian business managers for August-October expect moderate growth of retail activities and steep price increases in constructions and trade, in line with a survey by the country’s statistics board INS.

OVES Enterprise, a Cluj-Napoca-based company specializing in software development, managed to double receipts in the first six months of this year against the year-earlier period, as it succeeded in attracting in its portfolio ever larger projects of industries such as the financial and telecom ones, as well from the energy, space and defense.

Industrial equipment manufacturer AAGES Targu-Mures ended the first half of this year with RON3.6 million net profit, up 10.9% from the 1H/2021, amid operating revenues of RON23.64 million, 34.2% higher, in line with ZF calculations based on company data.

Enel Green Power Romania, the local green power unit of Italy’s Enel, one of Europe’s most powerful utilities group, in early August got the technical approval to connect two large solar power projects to the network, in line with Transelectrica data.

Romania’s government sold the assets of the Mintia thermoelectric power plant to Mass Global Energy Rom, part of the Iraqi Mass Group Holding for EUR91.2 million, excluding VAT.

Romanian-held engineering and technology company Simtel (SMTL.RO) notified the Bucharest Stock Exchange of the conclusion of a framework agreement with a food retail company for the development of photovoltaic plants on the roof, ground, carriage or on the façade of the buildings.

Romanian-held furniture accessories retailer MAMBricolaj(MAM.RO) posted RON496.540 net profit in the first half, 2% lower than in the year-ago period, while revenue increased by 11.2% to RON27.8 million, the half-year financial report of the company to the Bucharest Stock Exchange shows.

Romania’s three-month ROBOR index, the interbank interest rate used as a reference to calculate variable interests for loans in lei taken out before May 2019, ends the week at 7.96%, after having stagnated at 7.97% in the last six days of trading, central bank data show.

Industrial abrasives manufacturer Carbochim Cluj-Napoca, indirectly controlled by businessman Iulian Dascalu, in the first half of this year registered RON18.6 million turnover, up 3.5%, and net profit of RON753,742, down 27%.

Banca Transilvania financial group ended the first half of this year with net consolidated profit of RON1.046 billion, 3% higher than in the same period of 2021, with the bank’s profit standing at RON907 million, up almost 1%.

MedLife, the leader of Romania’s healthcare market, in the first half of this year recorded consolidated turnover worth RON860 million, up 27% from 1H/2021, on the organic growth of business lines and acquisitions, and net profit of RON45.6 million, down 36%.

Sole Mizo Romania, part of Hungary’s Bonafarm group, for 2021 reported turnover worth RON150 million (EUR30.5 million), down around 11% from 2020, in line with ZF calculations based on Finance Ministry data.

Businessman Dan Sucu and Conadi have started construction works on the third phase of Arcadia Apartments Domenii, the housing compound of Bucharest’s Domenii area.

Kangoopack, an Alba Iulia-based company providing integrated packaging solutions, founded and controlled by entrepreneur Mariel Petric, wants to make investments to boost production capacity and is in talks inclusively with investment funds on the possible sale of a stake to fund expansion.

Germany’s Kärcher, a cleaning equipment manufacturer, wants to turn Romania into a hub handling everything related to vacuum cleaners.

Kosarom group, founded by Neculai Apostol, expects turnover to reach EUR80 million this year, from 2021’s level of EUR75 million.