Romania Feed

Shell Romania, the local subsidiary of Shell, has a new team for expansion in Romania, after having operated via a local agent in the last 15 years.

Pharmaceutical manufacturer Sandoz SRL, owned by Switzerland’s Novartis, one of the largest five local pharmaceutical plants in Romania, climbed 61 places in the ranking of the largest importers to ninth in 2020, National Statistics Institute data show.

OMV Petrom Group has all the necessary expertise and is ready to take over the operator role of the Neptun Deep block in the Black Sea after US’ ExxonMobil left, in case the bid submitted by Romgaz meets all the required criteria, says OMV Petrom CEO Christina Verchere.

Organic fertilizer producer Norofert (NRF.RO) said in a stock market announcement Tuesday that the second stage of the share capital increase operation was closed on April 27, 2021.

Franklin Templeton International Services, alternative investment fund manager and sole director of property restitution fund Fondul Proprietatea, on Tuesday announced that AIO V (Ireland) Finance Designated Activity Company and AIO VI (Ireland) Finance Designated Activity Company sent an aggregate disclosure of holdings under 5% of the total voting rights in Fondul Proprietatea.

Agricover Holding, one of the largest players in Romanian agribusiness, on Tuesday said it ended 2020 with consolidated profit of RON77.3 million, up 61% on the year, and consolidated revenue of RON1.64 billion, down 2% on the year.

The Board of Directors of chemical producer Chimcomplex Borzesti (CHOB.RO), which owns the Oltchim and Borzesti platforms, has summoned its shareholders on June 30, 2021 to approve the admission to trading of the company’s shares on the main regulated market of the Bucharest Stock Exchange, by transfer from the AeRO market, per a stock market report.

Autonom Services, an integrated provider of modern mobility services which owns the most extensive mobility network in Romania, on Tuesday said it ended 2020 with operating income of RON327 million, down 3.4% on the year, and a net profit of RON7.2 million, down 59% on the year.

New car registrations in Romania decreased by 14.5% on the year, to 27,624 units, in January-April 2021, data from the association of automotive manufacturers in Romania (ACAROM) showed Tuesday.

Romania’s Competition Council is looking into a transaction whereby MedLife Group, the leader of the private medical services market in Romania, acquired the majority stake of 75% of pharmaceutical wholesaler Pharmachem Distributie, in December 2020.

Romania's foreign exchange reserves grew to EUR38.304 billion at the end of April from EUR35.709 billion at the end of March, central bank data showed Tuesday.

MedLife group (M.RO) increased its existing loan facilities by EUR40 million euros, signing a syndicated loan in totaling EUR143 million, the company said in a statement Tuesday.

Swedish-held private medical service provider Medicover, present in Romania through Medicover clinics and the Synevo laboratory division, reported consolidated revenues of EUR43.1 million in Romania for the first quarter, up 42% on the year.

Banca Transilvania (TLV.RO), the biggest lender in Romania by assets, reported a net profit of RON656 million on group level in the first quarter of 2021, up 116% compared with the same period in 2020.

Premium Aerotec, a company part of the Airbus group, posted about RON230.7 million (EUR47.9 million) revenue last year, 20% lower than in 2019, Finance Ministry data show.

Biscuit manufacturer Croco based in Onesti, Bacau County, one of the largest such manufacturers in Romania, posted more than RON38.7 million (EUR8 million) net profit in 2020, an increase of 10% on the previous year, when its net profit stood at RON35.3 million (EUR7.5 million), publicly available data show.

Banca Comerciala Romana Group (BCR) held by Austria’s Erste Group, ended the first quarter with RON424.6 million net profit, slightly lower than in the year-ago period, while net interest income shrank 0.7% to RON593.8 million, as a result of the lower interests on the money market.

Romanian authorities issued 4,456 residential building permits this March, an increase of 39.5% on the previous month and of 38.2% on March 2020. The number of building permits issued reached a 14-year high last month, National Statistics Institute data show.

Exports have come to generate more than 85% of the revenue of the Romanian shirt manufacturer Braiconf (BRCR.RO) in Braila, having increased by 10% during the pandemic.

Retail pharmacy network Catena, the largest actor in pharmaceutical retail in Romania, posted more than RON4.7 billion sales in 2020, the first year of the COVID-19 pandemic.