Romania Feed

In the first quarter of this year, the number of apartments sold nationwide was 23% lower than in the same period of last year. In Bucharest, 22% fewer apartments were traded.

Unirea Shopping Center, a company that manages two shopping centers in Brasov and Bucharest, for 2022 reported total turnover of RON57 million, up 13.5% year-on-year, and RON32 million net profit vs net losses of RON33.5 million in 2021.

October could see a new company starting on the Bucharest Stock Exchange, Exonia Holding, after the initial public offerings of Hidroelectrica and Agricover, expected for the end of this quarter.

ABN Systems International (ABN.RO), which distributes IT&C products and accessories and owns the Tellur brand, ended 2022 with a net profit of RON7.75 million, down 19.1% from the level reported in 2021, and a turnover of RON116.5 million, up 7.2% on the year, in line with data from the annual financial report published at the Bucharest Stock Exchange.

Austria’s Greiner Group, owner of flexible polyurethane foam manufacturer South East Europe Neveon, has strategic plans until 2028 and Romania is at the center of attention in Central and Eastern Europe, said Lambert Reudink, general manager South East Europe Neveon.

Turism, Hoteluri, Restaurante Marea Neagra (EFO.RO), which manages several hotels and restaurants in seaside resorts, ended 2022 with a turnover of RON45.3 million, slightly lower than in 2021, as per the company's annual financial report published at the Bucharest Stock Exchange.

Janssen, pharmaceutical companies of Johnson & Johnson, appointed Roxana Botea to the position of Country Director for Janssen Romania.

AKCENTA, regional fintech leader in international payments and currency exchange, announces the appointment of Daniel Bogiu as Country Manager of AKCENTA in Romania, thus marking the strategic decision to expand the local presence in each county and increase the support capacity for customers in Romania, as per data from company representatives.

Transport and logistics company DGH Log&Sped, one of the largest in Romania, hit the RON100 million (EUR20 million) revenue mark in 2022, an increase of 13% on the previous year, Finance Ministry data show.

Safetech Innovations, a Romanian cybersecurity company listed on the Bucharest Stock Exchange with offices in Bucharest, London, and Abu Dhabi, announces the appointment of Ionut Georgescu as Chief Operating Officer (COO) at the group level. Ionut Georgescu is an executive with over 21 years of experience in the IT and information security industry.

Law firm Filip & Company has assisted RCS & RDS S.A., part of Digi Group, in contracting new financing totaling over EUR132 million, for a period of up to three years.

Employees in Romania's IT industry are restrained in the decision to change their current job (almost one in three is not considering leaving their present job and working for another company), they want a pay rise to keep pace with inflation (over 20% of the current salary), a flexible schedule and fringe benefits.

The month of April animated recruitment, with over half a million job applications being registered on the online recruitment platform BestJobs. Candidates aged 25 to 34 are the most determined to change their job.

Brokerage group XTB, with shares listed on the Warsaw Stock Exchange, ended the first quarter of 2023 with consolidated net profit of EUR64.4 million, up 20% versus the same period of 2022, the company said in a press statement.

OMRO, a non-banking financial institution funding Romanian agriculture SMEs and local businesses, ended 2022 with an annual increase of 51.8% in revenue from the lending activity, representing interest and commission income, in the amount of RON12.5 million, while its net profit transposed into RON1.7 million loss, above the RON89,000 level reported in 2021.

BCR Pensii, the private pension fund with the biggest number of listed companies in its portfolio among the seven mandatory private pension funds in Romania, known as Pillar II, increased its ownership stake in telecom operator Digi Communications to 3.87% from 2.73% following deals worth as much as RON13.4 million closed in March 2023 at the Bucharest Stock Exchange.

Romania's foreign exchange reserves stood at EUR53.3 billion in April 2023, higher by EUR112 million versus March 2023, central bank data showed on Tuesday (May 2).

Speedwell is announcing for the first time its intention to build the CityZen mixed-use project on a nine-hectare plot of land on the former Griro platform in capital city Bucharest, within an investment worth EUR500 million.

Romanian optical retailer Lensa, founded by entrepreneur Daniel Craciun, in 2022 posted RON134 million turnover, 70% above the 2021 level, with the store network being present in 25 cities, with a total of 48 units, plus the online store.

Distribution and logistics company Aquila Part Prod has budgeted EUR12.7 million investments for 2023.