Romania Feed

Vending machine operator O’Fresh Vending Solutions, in which investment fund Integral Venture Partners has recently bought a majority stake, wants to double or even triple its business in five years, both via direct development and acquisitions, local and regional ones.

International Lazar, a freight forwarding company controlled by entrepreneur Ion Lazarus, ended the first half of this year with a 10%-12% decline in revenue, amid lower demand for freight forwarding, its officials say.

Belor Romania, part of Germany’s Belor Eurofert GmbH, ended 2022 with a turnover of RON459.8 million (EUR93.2 million), up 13.3% from RON405.9 million (EUR82.5 million) reported for 2021, as per finance ministry data.

Polish fashion retailer Modivo has opened its second store in Romania and in capital city Bucharest, which covers an area of 400 square meters and is located in the AFI Cotroceni shopping mall.

Philip Morris International (PMI), one of the largest manufacturers of cigarettes and IQOS heated tobacco products, will invest $130 million in its plant in Otopeni, near Bucharest, Romania, by the end of 2024, its officials announced at the 30th anniversary of its presence in this country.

E.ON Group carried out investments of RON654 million (some EUR133 million) in Romania in 2022, which targeted the expansion and modernization of natural gas and electricity networks in order to meet the needs of the energy transition, to boost networks' capacity to connect new sources of renewable sources, as well as to stimulate the digitalization of services, as per the annual sustainability report.

Spain’s Inditex Group, which owns some of the best-known fashion brands in the world, among which Zara, confirms the opening of the first Lefties store in Romania. ZF has recently reported that the only brand of the group that was not yet present in the country will arrive in 2023.

Diehl Controls, a German manufacturer of components for household appliances, is starting the construction of its factory in Brasov (central Romania) and the production will set off in mid-2024.

The non-performing loan (NPL) ratio remained below 3% in the first half of 2023, the same as in the second half of 2022, ranging between 2.6% and 2.7%, according to Ziarul Financiar (ZF) daily.

Idea::Bank is expanding its management team by appointing Viorel Ruse to the position of Director of Marketing and Communications and Viorel Vasile to the position of Director of the Card Management Division.

Transgaz, a company majority owned by the Romanian state, will also operate the natural gas transmission system of the Republic of Moldova, on the basis of a 5-year contract signed by its subsidiary, Vestmoldtransgaz, with Moldovatransgaz.

Bucharest’s 5-star hotel Sheraton in the first half of this year posted an average occupancy rate of between 60 and 70% and over 10% turnover growth amid rising accommodation tariffs.

Mircea Rasovan, the majority stakeholder in SportGuru, a sportswear retailer, says he is already contemplating expanding the brand he launched around 13 years ago abroad, with the first halt being in Eastern Europe owing to its similarity to the local market.

The shareholders of Sphera Franchise Group (SFG.RO), which holds the franchise for the KFC, Pizza Hut and Taco Bell in Romania, approved on Monday (Sept 4) the proposal of the Board of Directors to distribute dividends from the undistributed net profit of financial years 2020-2022.

Financial investment company Infinity Capital (SIF5, formerly known as SIF Oltenia) said in a stock market report on Monday (Sept 4) that it had purchased on Sept 1, 2023 some 150,000 shares issued by Flaros (FLAO.RO), a company that leases out own spaces from the former's portfolio.

Hungarian low-cost carrier Wizz Air has launched the second route operated from the Brasov-Ghimbav International Airport, towards Dortmund.

Concrete prefab manufacturer Prebet Aiud (PREB.RO) is summoning its shareholders on October 11 to approve, among others, the increase in the company's ownership stake in Roca Investments, as the latter's shareholder, through the purchase of shares or the participation in the share capital increase within the limit of EUR5 million (RON20 million).

Mazars has appointed Catalina Calinescu and Lucian Dumitru as Outsourcing – HR & Payroll Partner, respectively as Tax Partner, to further strengthen the firm’s capabilities and expertise in key areas of our business, starting with September 1, 2023.

Odile Renaud-Basso, the President of the European Bank for Reconstruction and Development (EBRD), is coming to Bucharest this week, where he will hold talks with President Klaus Iohannis, Prime Minister Marcel Ciolacu, the Governor of the National Bank of Romania, Mugur Isarescu as well as with representatives of the business environment.

Purcari Wineries has appointed Alex Filip as Deputy CEO, effective as of January 1, 2024, the company announced in a stock market report on Monday (Sept 1).