Romania Feed

ROCA Industry, the first Romanian holding of construction materials companies, part of the ROCA Investments portfolio, has announced in a press statement on Wednesday (July 12) the recruitment of Stefan Szitas, who joined the management team of the holding as Chief Operating Officer (COO) starting with May of 2023.

Bogdan Badea, chairman of the management board of Romania’s largest energy producer Hidroelectrica (H2O.RO) subscribed during the EUR1.9 billion IPO, the company said in a report to the Bucharest Stock Exchange on Wednesday. He got about 162,000 worth of shares, following allocation, ZF has calculated.

Romania's finance ministry on Tuesday announced that a new issue of Fidelis government bonds for retail investors would launch on July 17. The bonds will then be listed on the Bucharest Stock Exchange and are not subject to tax. The offering ends on July 28.

The average net salary in Romania edged down 0.5% in nominal terms in May 2023 compared to April 2023, to 4,543 (EUR917), data from the country's statistics board INS showed on Tuesday (July 12).

The number of employees in Romania planning to change jobs in the next 12 months increased in 2023, with 18% of respondents to the current edition of the PwC Hopes & Fears Workforce survey expressing this intention, up from 16% in 2022.

Hidroelectrica (H2O), the leader in electricity production and the main provider of technological services needed in the national energy system, has successfully concluded the largest initial public offering (IPO) ever made on the Bucharest Stock Exchange (BVB), in an operation that attracted a total of RON9.28 billion (EUR1.87 billion, USD2.04 billion) for 89.7 million shares representing 19.94% of the total number of shares, the local stock market said in a press statement.

Chief Financial Officers (CFOs) that drive bolder change in their finance teams can deliver better performance today and position themselves to outperform in the future, according to the EY 2023 Global DNA of the CFO, a survey of 1,000 global CFOs and senior finance executives.

Paper manufacturer Pehart Grup aims to invest more than EUR20 million this year to boost the energy efficiency of the production lines in the two plants it operates in Petresti-Sebes and Dej.

Grup Serban Holding, a Romanian entrepreneurial company operating in several agricultural fields, has invested EUR1.5 million in the acquisition of a new farm in Vaslui county.

Hidroelectrica, Romania’s main electricity producer, has announced the admission to trading of its shares at the Premium category of the Regulated Market of the Bucharest Stock Exchange. Trading starts today at 10:00 under the H2O ticker symbol.

Axigen Messaging, a provider of email server software, has teamed up with another company owned by a local entrepreneur, Romarg, the biggest player on Romania’s data hosting market, to create an email services package offering local data storage in a data center of Brasov.

Clinica Sante, a network of medical laboratories with 300 collection centers in Romania, generated RON240 million revenue in 2022, down 5% from 2021, public data from the Finance Ministry show.

IHG Hotels & Resorts (InterContinental) is expanding in Romania with the signing of the Indigo Hotel in Satu Mare, a brand debut in the country, according to the corporate website.

Beer sales in Romania in the first five months of 2023 slid by 9% from the year-earlier period, maintaining the 2022 downward trend, at a faster pace, in line with data provided by the Romanian Brewers Association.

British Council, the world’s leading organization in the field of cultural relations, has signed with One United Properties, the leading green investor and developer of residential, mixed-use, and office real estate in Romania, for a space in office building One Cotroceni Park, where it is due to open a new English language learning center in September.

The local subsidiary of French group ATOS IT Solutions, a major IT&C integrator in Europe, in 2022 posted rising turnover and profit. Turnover went up by 28% to RON701.8 million, while net profit climbed by 4% to RON88 million.

Sighetu Marmatiei-based Plimob, a major local supplier of chairs for IKEA, in 2022 generated turnover worth RON222.2 million (EUR45 million), up 16.65% on the year, in line with ZF calculations based on Finance Ministry data.

Car parts maker Hella Romania, the local subsidiary of German concern Hella, for 2022 reported turnover of RON4.077 billion (EUR826.8 million), up around 15% on the previous year, in line with ZF calculations based on Finance Ministry data.

Dental clinic chain Dr. Ardeleanu, launched on the market in 2018, has opened a new unit in Bucharest, in housing compound Cotroceni One, now owning four clinics.

Orange, leader of Romania’s telecom market, part of the French group of the same name, will invest EUR200 million on the local market this year.