Romania Feed

Paper packaging manufacturer Segezha Packaging switched from profit to loss in 2022, but its revenue increased by 31% to RON102.6 million, almost 20% of which generated by exports. The company expects 10% growth in 2023.

Tinmar Energy, an energy supply company owned by businessman Augustin Oancea, has around EUR150 million on the table for investment in expanding its renewable energy portfolio over the next three years.

Romania's Finance Ministry raised RON603 million from banks on Thursday, July 20, selling government paper in two auctions, at annual average yields of 6.50% and 6.22%.

Agroland Business System (AG.RO), a Romanian entrepreneurial retail, agribusiness and food group, which owns the largest farming supplies store chain in Romania, has inaugurated its feed plant in Isalnita, Dolj County, following a RON20 million investment.

Flower shop network Magnolia is expanding further countrywide and is readying a new location in Bucharest, as well as another two flower shops in Timisoara and Craiova, explained Gabriel Molnar, Magnolia co-founder.

Romania’s housing market set a new record in 2022 in terms of the number of housing units delivered in one year, crossing the threshold of 73,000 completed new houses and apartments, in line with the latest data published on the Tempo platform of the country’s statistics board INS.

Augustin Dragan, owner of Diverta bookstore chain, expects a 25% turnover increase this year, but final results will also depend on the school season.

Craiova-based Softronic, Eastern Europe’s sole producer of electrical multiple units and locomotives, controlled by four Romanian entrepreneurs, will manufacture 11 locomotives this year for export and local private operators, compared with 10 locomotives last year.

Passenger traffic on Romania’s airports was higher in the first half of 2023 than in the same period of 2019. Contrary to expectations, however, the growth drivers were the regional airports and not the country’s largest, which served fewer passengers than in 2019, data from Romania’s airport association show.

Romanian-held Ducfarm pharmacies and the pharmaceutical wholesaler by the same name posted more than RON628 million revenue together in 2022, up 20% from the previous year, Finance Ministry data show.

Arcada Company, the largest construction company in Galati County and one of the builders of the Cluj-Napoca subway, ended 2022 with record high revenue, RON533 million, an increase of 62% year-on-year.

The volume of construction works in Romania rose by 19.9% in May from April 2023, in gross series, and by 3.7% when adjusted to the number of working days and seasonality, in line with data from the country’s statistics board INS.

Romania continues to rank 14th in the EU by the number of new cars registered in January-June, with a volume of 73,645 units, up 25.4% from the year-earlier period, of which 6,998 were full-electric ones and 20,933 hybrid ones, in line with data released by the association of automotive manufacturers in Romania ACAROM and the European Automobile Manufacturers Association ACEA.

Online hypermarket Freshful, part of eMAG group, in the first half of this year posted 2.4 bigger sales than in the same period of 2022, with fruit and vegetables accounting for over 15% in total volumes.

Private equity fund BlackPeak Capital, founded in 2014 in Bulgaria, wants to make another portfolio investment in Romania this year after the investor completed a bolt on acquisition locally for euShippments, a services company of Bulgaria already part of the fund’s portfolio.

Bucharest’s four-star hotel Cismigiu, one of the city’s monument buildings, controlled by Spain’s Hercesa, ended the first half of this year with 15% higher revenues than in the first six months of 2019, the best year in tourism, according to the company’s officials.

Dacia sales in the first half of 2023 climbed by 24% to 345,432 units. 2019 has been the best year for Dacia so far, with 736,000 sold units.

Albalact, part of French group Lactalis, has become the first billionaire company in Romania’s dairy market.

Constanta-based Europack Media, a manufacturer of baby wipes established by local entrepreneurs, ended the first half with 25% higher revenue and if the growth pace remains unchanged, it will be closer to RON100 million at the end of the year, according to information supplied by the company and ZF’s calculations.

Oil drilling company Foraj Sonde Videle (FOJE.RO) has signed a framework contract for onshore drilling with OMV Petrom (SNP.RO), Romania’s only oil and natural gas producer, it said in a report to the Bucharest Stock Exchange.