Romania Feed

Viessmann SRL, part of Germany’s heating, industrial and refrigeration systems group Viessmann, for 2022 reported turnover worth around RON199.4 million (EUR40.4 million), down 1.7% from 2021. Net profit went up by 14% to over RON19.4 million (EUR3.95 million).

Aluminum producer Alro Slatina has signed a memorandum of understanding with Azeraluminium, the only primary aluminum producer in the South Caucasus region.

TradeVille, the biggest retail broker at the Bucharest Stock Exchange, in 2022 generated RON7.4 million net profit, down 37.3% from 2021, amid RON20 million turnover, 31.5% lower than in 2021, in line with ZF calculations based on Finance Ministry data.

Store network Annabella, founded by entrepreneurs Dorina and Dan Mutu almost three decades ago, has opened its first retail park in Horezu, Valcea county, thus reaching the mark of 100 stores nationwide.

Paval Holding, the special purpose vehicle of brothers Adrian and Dragos Paval, posted RON1.7 billion revenue and RON1.52 billion net profit in 2022. In comparison, the company, which its owners also use to invest on the Bucharest Stock Exchange, posted RON1.37 billion revenue and RON1.25 billion net profit in 2021.

Private equity firm Value4Capital (V4C) has bought the Clarfon retail chain, which has more than 50 stores in Romania. The deal was concluded with the help of ACP Credit, which specializes in loans, and is at its first transaction in Romania.

Sorin Miron, the former CEO of autoclaved cellular concrete block maker Somaco Grup Prefabricate, became chief executive officer of Prefab, a company in the same business, at the end of 2022, his updated LinkedIn profile and Prefab’s 2022 financial report show.

Paver maker Elis Pavaje (Alba County) posted RON380.7 million (EUR77.2 million) revenue in 2022, an increase of 21.5% on the previous year, ZF has calculated from the Finance Ministry data.

Accent Travel, an agency specializing in business travel, ended last year with RON138 million sales, its officials said, and expects a 43% increase in the sales volume in 2023.

Austrian-held insurer Vienna Insurance Group (VIG), which owns Omniasig, Asirom and BCR Asigurari de Viata in Romania, ended the first three months of 2023 with a volume of underwritings worth EUR3.871 billion, up 12.1% on the year, according to data provided by VIG representatives.

Simtel Team (SMTL.RO), a Romanian engineering and technology company listed on the AeRO market of the Bucharest Stock Exchange and national leader in the renewable energy field, announced appointment of Mihai Tudor chief executive officer of the group. This is one of the members of the Simtel Board of Directors that shareholders voted during the General Meeting on April 25, 2023.

Electronics devices producer Visual Fan (ALW.RO), which owns the Allview brand, had a net profit of RON652,175 in the first three months of 2023, down 63.4% from RON1.5 million reported in the same period of 2022, in line with the company's financial report.

Brick and ceramic materials manufacturer Brikston Construction Solutions (BKS.RO) reported a net profit of RON6.1 million for the first three months of 2023, down 74% on the year, and a turnover of RON53.95 million, down 39% on the year, as per data from the company's quarterly financial report published at the Bucharest Stock Exchange.

Bitdefender, one of the most powerful IT companies created in Romania which became a global leader on the market of cybersecurity solutions, saw a significant turnover growth in 2022, as per data from the company's balance sheet available at the finance ministry.

Greece’s AVAX Group has signed a EUR673.5 million contract with Iraq’s Mass Group Holding (MGH) to design, build and make operational the combined cycle power plant in Mintia, near Deva, it announced.

Cluj-based dairy producer Bonas Import Export (BONA.RO) has announced sales of RON7 million for the first quarter of 2023, up 73% on the year, and a net profit of RON117,300 from a loss of RON312,120 in the same period of 2022, as per data from the company's quarterly financial report published at the Bucharest Stock Exchange.

Local freight forwarder Dumagas, recently acquired by Omnia Capital, a company held by Matei Ladea and Bogdan Georgescu, is evaluating possible changes to its business strategy, aiming to reduce its activity in Romania and concentrate its resources towards Western Europe.

UK and European headquartered global banks are reporting strong progress towards Basel III compliance, well ahead of the January 2025 implementation deadline, according to a new EY research.

The shares of the companies Societatea Nationala Nuclearelectrica (SNN.RO), the sole producer of nuclear power and nuclear fuel using CANDU 6 type technology in Romania, and One United Properties (ONE.RO), one of the leading green developers of residential, mixed use and office real estate in Romania, will be included in the MSCI Frontier IMI indices starting June 1, 2023, as per an announcement made public by MSCI on May 11, 2023.

Romanian authorities issued 2,677 residential building permits in April 2023, 20% fewer than in March 2023 and 32.3% fewer than in April 2022, data from the country’s statistics board INS showed on Wednesday (May 31).