Romania Feed

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).

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.