Romania Feed

Net profit at the level of the Romanian banking system at the end of the first quarter of 203 hit a new record high, of almost RON3.4 billion, up around 70% from the gain reported for 1Q/2022.

Bittnet Systems (BNET.RO), the first Romanian IT group listed on the Bucharest Stock Exchange, notified investors of having taken out a RON10 million investment loan from ProCredit Bank for partial funding of its M&A deal with Dataware Consulting SRL.

The euro/leu exchange rate reached a new all-time high on Friday, May 19, RON4.9783/EUR, after having previously peaked at RON4.9731/EUR on Thursday.

Law firm bpv Grigorescu Stefanica advised the shareholders of Romanian company Softelligence, a provider of software engineering services, on its takeover by the US company Encora Holdings Limited, part of the Encora Group.

Egger Romania, part of Austria’s Egger, a supplier of wood-based material for furniture industry and interior decorations, construction and flooring, has for the coming period earmarked EUR35 investments in infrastructure, equipment, new production installations and existing installation retooling.

Radiotherapy center MedEuropa has reached investments of between EUR65-70 million on the local market after opening its first unit in Constanta in 2018.

Danube freight transporter Transport Trade Services (TTS.RO) has summoned its shareholders for June 19 to vote on acquiring 99.9% of the share capital of port operator Decirom for a price of EUR21.8 million, and accessing a loan of EUR11.5 million guaranteed mainly with DECIROM shares for the partial financing of the purchase, as per a stock market report.

Antibiotice Iasi (ATB.RO), Romania’s most important generic drug manufacturer, on Thursday (May 18) informed the Bucharest Stock Exchange (BVB) that SIF Oltenia (SIF5.RO), its second largest shareholder, acquired almost 16 million ATB shares on Wednesday (May 17), at the price of RON0.58 per unit.

Romaqua Group, the largest Romanian-held beverage business, ended 2022 with more than RON948 million (more than EUR192 million) revenue, an increase of almost 9% year-on-year, Finance Ministry data show.

Sibiu-based company Moara Cibin (MOIB.RO), part of milling and bakery group Boromir, reported a net profit of RON4 million for the first three months of 2023, up 135% versus the same period of 2022.

Vintruvian Estate Group, one of the leading players on the premium wine market in Romania, has signed a transaction to fully acquire winemaker Crama Mennini in the Dragasani area, a business established over ten years ago by Italian businessman Paolo Mennini.

Car access and authorization systems manufacturer Huf Romania, part of Germany’s Huf Group, posted about RON505.8 million (EUR102.5 million) revenue in 2022, a 53% increase year-on-year, ZF has calculated from Finance Ministry data.

Romania’s most important generic drug manufacturer Antibiotice Iasi (ATB.RO) has received from the Romanian government the approval for the funding of a project for manufacturing, packaging and storage facility for sterile products. The state aid amounts to RON85 million, Antibiotice said in a report to the Bucharest Stock Exchange.

Automaker Ferrari, including its Formula 1 team, has decided to get a cybersecurity solution developed by Bitdefender, one of the most powerful IT companies established in Romania. The partnership is different from the one announced last year, where Bitdefender logo was to be put on the helmets of the Ferrari drivers and on the F1-75 car driven by Charles Leclerc and Carlos Sainz.

The asking prices of residential properties rose slightly in the first quarter, by 0.3% on the previous quarter and 1.7% on the year-ago period. Cluj-Napoca remained the most expensive city in terms of apartment prices, real estate classifieds website imobiliare.ro shows.

Natural gas producer and supplier Romgaz (SNG.RO) benefits from the Issuer Market Maker (IMM) services provided by Raiffeisen Bank International, starting May 16, 2023.

The “Avram Iancu” international Airport of Cluj, the second largest in Romania, saw one million passenger traffic in the first five months of 2023.

Romania's Finance Ministry raised RON790.3 million from banks on Thursday (May 18), higher than the scheduled RON700 million, selling government paper maturing in September 2032, at an annual average yield of 7.12%.

Software solutions provider LIFE IS HARD (LIH.RO), listed on the AeRO market of the Bucharest Stock Exchange, reported a turnover of RON6.8 million for the first quarter of 2023, up 14% on the year, and a net profit of RON1.64 million, higher by over RON1 million.

Over half (52%) of employees in Romania prefer online meetings to be replaced with in-person meetings and 40.3% of the respondents already prefer to attend online meetings from the office, as per a survey conducted in April 2023 by Genesis Property among 1,307 respondents countrywide.