Romania Feed

Cluj-Napoca builder Wincon ended 2022 with RON315 million turnover, double the 2021 level and 2023 expects RON420 million.

Raffaello Shoes Factory, Romania’s largest footwear producer, owned by Italy’s Grisport, in 2022 generated turnover worth RON403.7 million (EUR81.8 million), up around 16% from 2021.

Drug wholesaler Europharm Holding, a major player on the Romanian market, in 2022 posted turnover worth RON896.4 million (EUR181.8 million), up around 15% on the year, in line with ZF calculations based on Finance Ministry data.

Private equity and growth fund Integral Venture Partners, which particularly bets on CEE, has clinched a second deal on the Romanian market, by taking over the majority stake in O’Fresh Vending Solutions.

Romanian nuclear power producer Nuclearelectrica (SNN.RO) has announced in a stock market report on Friday (Sept 1) the signing of a new contract worth RON159.6 million for the sale of electricity to Romania's largest electricity producer, Hidroelectrica (H2O), between September and December 2023.

Rompetrol Rafinare (RRC.RO) said in a stock market report on Friday (Sept 1) that Midia Marine Terminal, member company of the KMG International Group, has successfully completed the turnaround of the offshore marine terminal, which ensures the supply of raw materials to the Petromidia refinery.

State-run port operator Oil Terminal (OIL.RO) said in a stock market report on Friday (Sept 1) that its shareholders approved the establishment of a partnership with developer Iulius Real Estate for the purpose of carrying out an urban regeneration and development project over a 38-hectare land owned by Oil Terminal.

Romanian poultry producer Avicola Slobozia (AVSL.RO) ended the first half of 2023 with a net profit of RON4.54 million, down 9.1% from RON5 million reported in the same period of 2022, and a turnover of RON60.8 million, up 5.7% on the year, as per data from the company's half-year financial report published at the Bucharest Stock Exchange.

Flaros (FLAO.RO), a company that leases out its own space and is held by Infinity Capital Investments (formerly SIF Oltenia), has secured approval from shareholders to sell four plots of land totaling 5,700 square meters in Bucharest, the General Meeting of Shareholders’ decision published on the Bucharest Stock Exchange shows.

Romania's foreign exchange reserves stood at EUR53.90 billion at the end of August 2023, close to the EUR53.93 billion level reported at the end of July 2023, central bank data showed on Friday (September 1).

Software solutions provider LIFE IS HARD (LIH.RO), listed on the AeRO market of the Bucharest Stock Exchange, reported a consolidated turnover of RON19.9 million for the first half of 2023, up 19% on the year, and a net profit of RON3.7 million, double against the level reported in the same period of 2022, as per the company's half-year financial report published at the Bucharest Stock Exchange.

The corrective measures of macroeconomic imbalances Romania is facing, especially the budget deficit and the current account deficit, that have been taken so far have either been insufficient or have not had the intended effects, therefore, the problems persist and become more pressing, which significantly increases the risks of future negative consequences have increased significantly, according to Leonardo Badea, deputy governor of Romania’s central bank.

The Bucharest Stock Exchange on Friday (Sept 1) said that during the extraordinary meeting of the Index Committee held on August 31 a series of decisions were approved regarding the stock market indices adjustment, following the special dividend granted by Fondul Proprietatea (FP).

The EY organization has announced an expansion of its collaboration with Microsoft, as the EY organization completes the first 12 months of a four-year investment of more than US$1 billion to deliver its next-generation Assurance technology platform.

Promateris (PPL.RO), a Romanian industrial group and the main producer of biodegradable packaging in CEE, ended the first half of 2023 with sales revenues of RON69 million, down 21%, and RON4.8 million losses, from RON5 million profit in the year-earlier period.

Radu Dumitrescu, CEO and founder of restaurant group SHC, a major player in the local hospitality industry, says he’s both eyeing new acquisitions and seeking available spaces for new unit openings.

Austria’s brick manufacturer Wienerberger, which has seven plants in Romania, posted local sales worth EUR46.6 million in the first half of 2023, down 25% from the year-earlier period.

Healthcare network Auxologico of Italy, which entered the Romanian market directly via a takeover, plans to strengthen its foothold in Romania, but also possibly expand via an acquisition or a greenfield investment, depending on market opportunities.

Sibiu-based builder CON-A, owned by entrepreneur Mircea Bulboaca, says the biggest project it is carrying out at this moment is in Oradea. In line with previous ZF data, the biggest investment project now underway in Oradea is the tire plan of Finland’s Nokian Tyres.

Real estate developer Impact Developer&Contractor (IMP.RO) reported revenue of RON59 million for the first half of 2023, compared to RON90 million in the same period of 2022, but its net profit increased to RON34 million from RON13.9 million in the year-earlier period, as per its half-year financial report published at the Bucharest Stock Exchange on August 31.