Romania Feed

Mecanica Fina (MECE.RO), a producer of measuring, verification, control and navigation instruments and devices, reported a net profit of RON1 million for the first half of 2023, from a loss of RON457,400 in the same period of 2022, as per calculations by Ziarul Financiar (ZF) daily based on data from the company's half-year financial report sent to the Bucharest Stock Exchange.

Industrial equipment manufacturer AAGES Targu-Mures (AAG.RO) ended the first half of 2023 with a net profit of RON2.8 million, down 22.6% on the year, and a turnover of RON14 million, down 11.9% on the year, amid dwindling revenue from the production sold, as per data from the company's half-year financial report sent to the Bucharest Stock Exchange.

Suceava-based brewer Bermas (BRM.RO) reported a net loss of RON460,160 for the first six months of 2023, compared to a loss of RON174,700 in the same period of 2022, and a turnover of RON15.5 million, up 8.4% on the year, as per calculations by Ziarul Financiar (ZF) daily based on data from the company's half-year financial report sent to the Bucharest Stock Exchange.

The SHC restaurant group, one of the main actors in the local hospitality industry, controlled by entrepreneur Radu Dumitrescu, is taking over the Vacamuu steakhouse in Floreasca. The actor thus consolidates its position in this business in Bucharest.

Cargus, one of the biggest players in the Romanian courier industry, ended the first half of 2023 with over 10% revenue growth compared to 2022 and expects a similar pace for the whole 2023.

City Grill Group, one of the strongest domestic players in the HoReCa industry, has announced in a press statement the completion of its most extensive investment process to date.

Autonom Services, the largest mobility network in Romania, held by brothers Marius and Dan Stefan, posted RON12.3 million net profit in January-June 2023, 31% below the same period last year.

New car registrations in Romania grew by 23.3% year-over-year to 87.275 units in January-July 2023, placing the country 14th in the European Union (EU), data from the European Automobile Manufacturers Association (ACEA) and the association of automotive manufacturers in Romania (ACAROM) showed on Wednesday (August 30).

Photon Energy has announced that Photon Energy Engineering Romania, the Group’s Romanian subsidiary dedicated to engineering, procurement and construction (EPC) services, has completed and grid-connected two solar photovoltaic (PV) power plants in Romania.

Pet shop chain Animax, part of the Pet Network International group, has invested EUR270,000 in two new stores in Bucharest and Alba-Iulia for a total 131 in Romania and plans to open six more stores by yearend.

The largest investment in the portfolio of private pension fund Aripi, managed by Generali, was in Romania's largest electricity producer, Hidroelectrica (H2O), on July 31, 2023.

Colliers Romania manages over 680,000 square meters (sqm) of real estate in Bucharest, Cluj-Napoca, Timisoara, Brasov, and Arad, of which 590,000 sqm are offices and the rest industrial warehouses, providing asset management and administration services for annual budgets of over EUR26 million.

The Foreign Investors Council (FIC) supports the need to reform the fiscal system, but it has to be analyzed in terms of medium and long-term sustainability and through prior consultation with the business environment, as per a press statement.

A recent survey conducted by Ipsos for ING Bank shows that 48% of Romanians can no longer afford to save because of inflation, and only 11% manage to put enough money aside to be able to cope with a more expensive future already marred by multiple price hikes.

Turism, Hoteluri, Restaurante Marea Neagra (EFO.RO), which manages several hotels and restaurants in seaside resorts, reported revenues worth RON31 million for the first half of 2023, considerably higher than the RON3.2 million revenues of 1H/2022 amid the sale of Venus compound of Eforie Nord and the renting of new assets.

Sphera Franchise Group, which holds the franchise for the KFC, Pizza Hut and Taco Bell in Romania, for the first half of 2023 reported net profit of RON19.4 million, compared with RON8.7 million losses in 1H/2022.

Meta Estate Trust, a holding-type company operating in the real estate field, for the first half of 2023 reported RON6.3 million total revenues, up 60% from the year-earlier period, while net profit climbed to RON2.9 million from RON0.7 million.

Retailer Profi has budgeted an over 10% turnover and EBITDA profit increase for this year.

Furniture and home products retailer JYSK is expanding further in Romania and is opening a new store on August 31 in Cosmopolis housing compound of Stefanestii de Jos, near Bucharest, thus reaching a 136-unit network.

Automotive component maker Altur Slatina (ALT.RO) posted RON75.3 million revenue in the first half, slightly up on the RON73.4 million in the year-ago period, while profit increased to RON7.8 million from RON4.9 million.