Romania Feed

Nine out of ten organizations (91%) reported at least one cyber incident or breach last year, according to Deloitte 2023 Global Future of Cyber Survey, and more than a third (38%) between six and ten events.

Agricover group, leader of Romania’s agribusiness market, controlled by businessman Jabbar Kanani, wants to list on the Bucharest Stock Exchange via an IPO that will include a maximum number of 145,436,236 new ordinary shares issued by the company as a part of a share capital increase, as well as up to 800,622,551 existing ordinary shares held by its current shareholders, Mr. Jabbar Kanani and the European Bank for Reconstruction and Development (“EBRD”).

Constructions company Masterbuild has built a14,500-sqm warehousing hall in Stefanesti-Ilfov within the logistic park owned by VGP group, with the new space set to be leased by companies operating in fields such as distribution and logistics.

Rompetrol Well Services, the oil services arm of Rompetrol, aims for RON8.8 million net profit in 2023, 238.5% higher than last year’s RON2.6 million level, in line with the revenues/expenses budget set to be submitted to shareholders for approval.

The top five actors on the large home appliances market account for almost 75% of sales together, ZF has found from Euromonitor data.

Finnish-held investment fund KJK Balkan Holding, which owns 10.7% in Rompetrol Well Services (PTR.RO), has requested that two new items be put on the agenda of the Ordinary General Meeting of Shareholders on April 26, 2023.

Novaservis Ferro Group, the subsidiary of Poland’s sanitary ware and heating solutions provider Ferro Group, which has a regional presence in Central and Eastern Europe and manufacturing facilities in Poland and Czech Republic, has taken out a EUR15 million two-year loan from BRD.

Romania's Finance Ministry raised RON304.6 million from banks on Monday (April 10) selling bonds maturing in October 2026, at an annual average yield of 7.21%.

The Romanian mergers and acquisitions (M&A) market recorded 57 transactions in the first three months of 2023, excluding transactions with stakes acquired that are below 15%, which is a deal volume equal to that recorded in the first quarter of 2022, as per an analysis by consulting firm EY.

High inflation and rising interest rates have increased the banks’ caution in financing the real estate sector, but the commercial property market in Romania remains stable, with limited adjustments of the capitalization rates

NN Romania, one of the leading players on the life insurance and private pension market, announces the appointment of Catalin Vasile as Chief Sales Officer, starting May 2023.

Romania’s state-owned natural gas producer Romgaz’s (SNG.RO) announced in a stock market report on Monday (April 10) the conclusion of a new transaction with Electrocentrale Bucuresti, Bucharest’s main heat supplier.

Hidroelectrica, the largest electricity producer in Romania and a company that is preparing to be listed on the Bucharest Stock Exchange, has extended the provisional mandates of the Chairman and members of its Board of Directors for four more months, starting April 7, 2023, without making any changes in its Board’s structure.

Romania’s largest hose manufacturer, Adesgo, which has an almost 100-year history, has been acquired by Israel’s Tefron Europe, a subsidiary of the Tefron Group, a developer and manufacturer of seamless garments.

Pharmaceutical producer Biofarm Bucuresti (BIO.RO), the fifth largest drug producer in Romania, has budgeted revenue of RON325 million for 2023, which translates into a 17% increase compared to the 2022 level, as per the budget of revenue and expenditure proposed by the company for 2023.

The vast majority of companies (91 percent) have experienced at least one event, other than a pandemic, that has disrupted their business in the last two years, according to the PwC Global Crisis and Resilience Survey 2023.

Electronics retailer Flanco has budgeted investments of RON20 million for 2023, a record high, and the money is envisaged to target mostly new store, but also the existing units.

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 the April 3-7 week slightly lower, decreasing to 6.82% a year on Friday (April 7) from 6.83% on Thursday (April 6).

Romania's trade balance posted a deficit of EUR4.38 billion in January-February 2023, lower by EUR232 million (-5%) compared with Jan-Feb 2022, data from the country's statistics board INS showed on Monday (April 10).

There were 9.1 million farms across the European Union (EU) in 2020, which translates into an estimated 5.3 million fewer farms than in 2005 (the equivalent of a nearly 37% decline), as per the latest report by Eurostat, the EU's statistical office.