Romania Feed

The occupancy rate of Bucharest hotels stood at 62% in the first quarter of 2023, up 33% from the year-earlier period, and is just 5% below the 2019 level, placing Romania’s capital city second in the region, after Warsaw, in line with data provided by real estate consultancy Cushman & Wakefield.

rebelDot, a Cluj-Napoca-based software developer, has taken over the majority stake in steepsoft AI, a Romanian company specializing in the development of AI solutions and leader of the segment in Romania.

Life insurer Aegon Romania, part of international financial group Aegon, ended 2022 with a RON165.73 million gross underwritten premium volume, more than 8% higher than in 2021, and a 4.92% market share.

Medimfarm, the 58-unit pharmacy chain present in several counties, but also in Bucharest, ended 2022 with turnover worth RON147 million (almost EUR30 million), 8% higher than in 2021.

Romania in 2022 exported EUR2.6 billion worth of furniture, up 17% from the previous year, reveal data provided by the association of furniture manufacturers (APMR).

Mariana Cotoi, general manager of state-owned Casa de Comer Agroalimentar Unirea, says the company she runs plans to buy a slaughterhouse and a processing plant and in the second half of the year to open a store selling Romanian agrifood products.

Fashion retailer H&M posted almost RON977 million sales in Romania in 2022, 15% higher than in 2021, the second year of the pandemic when there were still restrictions in force. Retail operated normally in 2022 but was affected by the war near the borders and the record inflation.

Icevulcan Properties Ltd., a company held by Daniel Dines, the CEO of automation software developer UiPath (PATH.RO), has exercised its option to buy 31.2 million ordinary shares in real estate developer One United Properties (ONE.RO), a report published on the Bucharest Stock Exchange on Monday shows.

Simtel Team (SMTL.RO), a Romanian company specializing in building rooftop photovoltaic parks posted RON66 million revenue in the first quarter of 2023 compared with RON9.7 million in the year-ago period, while the net profit went up to RON2.9 million from RON0.29 million. The first-quarter financial report was published on the Bucharest Stock Exchange on Monday evening.

Romania's Finance Ministry raised RON646 million from banks on Monday (May 22), higher than the scheduled RON500 million, selling government paper maturing in May 2027, at an annual average yield of 6.80%.

Brewer Ursus Breweries has appointed Roberto Follacchio vice president of human resources as of June 1. Follacchio had previously served as Sr. HR Business Partner Commercial of Birra Peroni Italy, part of Asahi Europe & International. He also had an essential role in the digital transformation process of the HR department of Birra Peroni.

DTEK Renewables International, the main private energy investor in Ukraine, bought a 49.38 MW photovoltaic park in Glodeni, Mures County in several stages. The park was a greenfield project built by Romanian-held Finas Invest Cluj-Napoca.

ENGIE Romania announces that after 13 years in Romania, Eric Stab will end his term as CEO of the company on June 1 and will continue as CEO of Engie Germany.

OMV Petrom (SNP.RO), the largest company in Romania and the main integrated energy company in SE Europe has signed a funding contract via the National Recovery and Resilience Plan (NRRP) to build a hydrogen production facility by water electrolysis at the Petrobrazi refinery.

Speedwell, one of the most dynamic real estate developers in Romania, has got the construction authorization for the third building part of The Ivy project, the housing compound located close to Bucharest’s Baneasa forest.

Romanian paint and coatings producer Sarcom, part of ROCA Industry’s portfolio, is relaunching under the name of Evolor and aims for a business volume of around RON100 million in 2023, by expanding its sales network and boosting operating efficiency.

The volume of construction works in Romania went up by 12.7% in the first three months of this year against the year-earlier period, in line with data from the country’s statistics board INS.

Cotnari SA, a major winemaker locally, for 2022 reported RON132.7 million turnover, down 20% from the previous year.

Drug wholesaler Alliance Healthcare, known as Farmexpert ahead of rebranding, posted turnover worth above RON4.5 billion in 2022, up 14% on the year, in line with ZF calculations based on finance ministry data.

Iustin Paraschiv, founder of Carmistin brand, a major player on the local meat market, is carrying out EUR250 million investments.