Romania Feed

A recent SeeNext report on the renewable energy sector in Romania, which analyzed data from 633 Romanian companies, shows that the industry’s revenue skyrocketed nearly 70% and is poised for new heights.

A team of Wolf Theiss lawyers assisted DTEK Renewables International, a green energy investor and operator in Romania and the EU, with the acquisition of a wind energy project with a 60 MW installed capacity located in Ruginoasa village of Iasi county, from local entrepreneurs active on the renewable energy market.

Romania’s unemployment rate stood at 5.4% in August 2023, lower by 0.1 percentage points than 5.5% in July 2023, data from the country’s statistics institute INS shows on Monday (October 2).

Constanta-based private hospital Euromaterna, the largest private maternity hospital in Dobrogea, saw turnover near RON44 million last year, from RON40.7 million in the previous year.

Castel Mimi, one of the best-known wine manufacturers of the Republic of Moldova, wants to increase its sales especially in the hospitality sector of Romania, a country that has become the most important export market for the 130-year-old brand.

Grand Hotel Bucharest, the former Intercontinental hotel, managed by Compania Hoteliera Intercontinental Romania (RCHI.RO), for the first half of 2023 reported a turnover of RON15.3 million, higher than RON11.3 million in the year-earlier period, as per its half-year financial report released on Friday (Sept 29).

Furniture and home décor retailer Vivre Deco, with two bond issues listed at the Bucharest Stock Exchange and facing insolvency proceedings, reports a loss of RON14.2 million for January-June 2023, from a loss of RON18.7 million in the year-earlier period, as per its half-year financial report.

BT Leasing Transilvania IFN, the financial leasing division of Banca Transilvania Group, ended the first six months of 2023 with an individual net profit of RON95.6 million, up 98.8% on the year, as per calculations by Ziarul Financiar (ZF) daily based on the company's half-year financial report.

Online retailer Elefant.ro ended the first half of 2023 with a turnover of RON53 million, compared to RON95 million in the same period of 2022, and its loss remained unchanged, at RON11 million, as per its half-year financial report.

Dr. Fischer Dental (DENT.RO), a dental laboratory owned by Dr. Antoaneta Fischer, ended the first half of 2023 with a net profit of RON578,800, up 204% on the year, and a turnover of RON7.3 million, up 44% on the year, as per data from the half-year financial report published at the Bucharest Stock Exchange.

Romanian state-run nuclear power producer Nuclearelectrica (SNN.RO) will collaborate with Laurentis Energy Partners (LEP), a subsidiary of Ontario Power Generation (OPG), on the production of life-saving medical isotopes at the Cernavoda Nuclear Power Plant (NPP) and explore the possibility of heavy water production in Romania.

Romania attracted foreign direct investments (FDI) totaling EUR10.03 billion in 2022, up 12% versus EUR8.9 billion in 2021, an analysis by the country's central bank and the statistics board INS shows Friday (Sept 29).

Romanian authorities issued 3,115 residential building permits in August 2023, 1.9% more than in July 2023 and 23% fewer than in August 2022, data from the country’s statistics board INS showed on Friday (Sept 29).

Romania’s general consolidated budget posted a deficit of RON42.19 billion in January-August, 2023, or 2.65% of gross domestic product (GDP), as compared to a budget gap of RON32.98 billion (2.34% of GDP) reported in the same period of 2022, the finance ministry said on Friday (Sept 29).

Teilor Holding, a group of companies with bonds listed on the Bucharest Stock Exchange, which includes Teilor luxury jewelry chain, finance company Invest Intermed GF IFN and Teilor Invest Exchange, posted total consolidated revenue of RON193.9 million in the first half of 2023, up about 5% from the first half of 2022, of which consolidated operating revenue of RON182.6 million, 1% higher.

Santierul Naval Constanta (Constanta Shipyard – SNC.RO), which builds and repairs ships, posted RON68.6 million revenue in the first half of 2023, 67.9% below the RON213.6 million in the same time last year, the financial statement published on the Bucharest Stock Exchange shows.

BestJobs Recrutare, the company that manages the online recruitment platform of the same name (bestjobs.ro), and which has an outstanding bond issue on the Bucharest Stock Exchange, ended the first half of 2023 with RON20.8 million revenue, up 2.3%, while net profit fell to RON5.2 million from RON6.5 million.

Grup Serban Holding (GSH.RO) posted RON262 million revenue in the first half of 2023, 5% lower than in the same period in 2022. Net profit fell 10% to RON6.1 million, according to the first half report to the Bucharest Stock Exchange on Friday.

Elvila (ELV.RO), the furniture manufacturer controlled by businessman Viorel Catarama, posted RON5.5 million net loss in the first six months of 2023, compared with a loss of RON3.3 million in the same period of 2022, while revenue shrank by 11.4% to RON10.1 million.

Romania’s largest lender Banca Transilvania (TLV.RO) has secured shareholders’ vote to distribute RON900 million as dividends from the profit reserves of 2022 and of the previous year, as shown by the decision of the General Meeting of Shareholders sent to the Bucharest Stock Exchange on Friday.