Romania Feed

Romania's industrial production prices for the total (domestic market and non–domestic market) decreased by 0.9% in July 2023 compared to July 2022, data from Romania’s National Statistics Institute INS showed on Monday (Sept 4, 2023).

Softbinator Technologies (CODE.RO), a group of IT companies, ended the first half of 2023 with RON17.6 million revenue, an increase of 57% on the year-ago period, as well as RON556,000 loss, unlike the first half of 2022 when it posted RON2.1 milion net profit.

Romania's Finance Ministry raised RON522.5 million from banks on Monday (Sept 4), selling government paper with a nominal value of RON500 million at an annual average yield of 6.71%.

Accor, one of the largest hotel chains in the world, will open a new ibis Styles Hotel in Pitesti, the group said. The hotel chain signed a franchising agreement with HR Eden 2007, which runs the Arges Hotel in Pitesti, which will be refurbished and rebranded as ibis Styles.

New car registrations in Romania increased by 2.82% to 12,891 in August 2023 compared with August 2022, and by 19.3% to 99,466 in January-August 2023, Romanian carmakers’ association ACAROM data show.

The Financial Supervisory Authority (ASF) has licensed the first digital crowdfunding platform in Romania, which real estate developers can use to secure funding from investors for up to 60 months.

Real estate developer One United Properties has convened its shareholders for October 9 to approve the distribution of interim dividends from the company’s profit corresponding to the first six months of the financial year ending on 31 December 2023 in value of RON 37,976,491.71 (gross amount) i.e., a dividend of RON 0.01/share.

Vertiv Romania, a provider of critical digital infrastructure solutions and IT support services, in 2023 registered turnover worth above EUR16.5 million (RON81.9 million), up almost 27% from 2021.

Prime Kapical, one of the most dynamic shopping center developers in Romania, has invested EUR47 million in Carolina Mall, the first large shopping center of Alba Iulia.

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.