Romania Feed

Romania’s three-month ROBOR index, the interbank interest rate used as a reference to calculate variable interests for loans in lei taken out before May 2019, ended June 2023 at 6.54% on Friday, June 30.

One individual investor subscribed RON150 million worth shares in electricity producer Hidroelectrica (H2O.RO) during the IPO the company is conducting on the Bucharest Stock Exchange, Ziarul Financiar has found.

Romania had the lowest price level for consumer goods among the EU Member States in 2022, with 42% below the EU average, being the least expensive country for food and non-alcoholic beverages, in line with data from Eurostat, as cited by Romania's statistics board INS.

Almost 40% of white-collar workers go to the office every day and 28% of them work in hybrid system, about a third of the employees work exclusively remotely, according to the latest survey conducted by online recruitment platform Bestjobs.

Romania’s unemployment rate stood at 5.5% in May 2023, lower by 0.1 percentage points than 5.6% in April 2023, data from the country’s statistics institute INS shows on Friday (June 30).

Automotive component manufacturer VCST Automotive Production Alba, the local subsidiary of Belgian group BMT, ended 2022 with a net profit of RON7.5 million (EUR1.5 million), up 83.4% from RON4.1 million (EUR836,000) reported in 2021, in line with publicly available data.

Technology startup investment platform SeedBlink, has concluded a partnership with Equidam, an online platform for startup valuation, as per a statement released by representatives of the two companies.

Plastic packaging maker Romcarbon (ROCE.RO) has notified investors via a report to the Bucharest Stock Exchange that during the June 28, 2023 meeting its Board of Directors unanimously approved having the company subscribe in the initial public offering of Hidroelectrica (H2O.RO), Romania’s largest electricity producer up to EUR2 million.

Upholstered furniture producer Polipol Mobila based in Foieni (Satu Mare County), held by the German group of the same name, reported a net profit of RON4 million (EUR813,000) in 2022, down 29.6% from almost RON5.7 million (EUR1.1 million) in 2021, in line with publicly available data.

Autotehnorom, a construction company in Suceava, posted RON270 million (EUR54.7 million) revenue in 2022, up 51% on the previous year, according to ZF calculations based on data from the Finance Ministry website.

The company Olint Com based in Radauti (Suceava County), with activities in the manufacturing, trading and distribution of materials for constructions and interior design, reported a turnover of RON130.7 million (EUR26.5 million) for 2022, down 6.6% year-over-year, in line with calculations by Ziarul Financiar (ZF) daily based on finance ministry data.

Automotive component manufacturer Lear Corporation Romania, the local subsidiary of US-held Lear Corporation which produces car seats and electronic systems for the automotive industry, had a turnover of RON1.441 billion (EUR292.2 million) in 2022, up 25% from RON1.151 billion (EUR234 million) in 2021, as per finance ministry data.

Car components manufacturer Preh Romania, a supplier for Porsche, Mercedes and Tesla, posted more than RON1.37 billion (EUR279.7 million) revenue in 2022, up by about 18% on 2021, according to ZF calculations based on Finance Ministry data.

Eaton Electro Productie, the Romanian subsidiary of US giant Eaton, reported a turnover of RON1.6 billion (EUR324.7 million) for 2022, up 17.8% from RON1.359 billion (EUR276.3 million) in 2021, in line with calculations by Ziarul Financiar (ZF) daily based on finance ministry data.

Smart Diesel company in Arad posted over RON2 billion (EUR407.4 million) revenue in 2022, up by about 28% on the previous year, according to ZF calculations based on Finance Ministry data.

Romania's Finance Ministry raised RON917 million from banks on Thursday (June 29), selling government paper maturing in 2028, at an annual average yield of 6.65%.

OMV Petrom, the largest integrated energy company in Southeast Europe, signed an agreement for the purchase of several projects for the construction of photovoltaic parks in Teleorman county

Romania's national grid company Transelectrica (TEL.RO) has inaugurated the refurbished 220/110/20 kV Ungheni electric power station, with a total investment of over EUR10 million from its own funds, the company said in a statement.

Globally, year-to-date (YTD) 2023 recorded 615 IPOs with US$60.9 billion capital raised, a 5% and 36% decrease year-over-year (YOY), with larger deals coming to the market in Q2 compared to Q1, even though it has been a slow recovery, according to the EY Global IPO Trends Q2 2023.

ALRO, one of the largest vertically integrated aluminum producers in Europe, measured by production capacity, inaugurated a 11 million USD investment in technology and environment protection at its Eco Recycling Facility in Slatina.