Romania Feed

Mexican Grupo Bimbo, one of the world’s largest bakery companies, officially announces its entry into the Romanian market following the acquisition of local company Vel Pitar from U.S. investment fund Broadhurst.

Among the European Union Member States, the highest economic growth in the fourth quarter of 2022 compared to the third quarter of 2022 was recorded by Greece (1.4%), Malta (1.2%), Cyprus (1.1%) and Romania (1%), data from Eurostat, the statistical office of the European Union, showed on Wednesday (March 8).

Romania's gross domestic product (GDP) grew by 4.8% in real terms (in unadjusted data) in 2022 as compared to 2021, provisional (1) estimates from the country’s statistics board INS showed on Wednesday (March 8).

Romanian state-owned energy utility group Electrica (EL.RO) on Wednesday reported a consolidated net profit of nearly RON560 million for 2022, compared to a loss of RON552 million in 2021, and revenue of RON10 billion, up 39% from 2021.

Agricover Holding, controlled by businessman Jabbar Kanani, is convening its shareholder for April 10 to approve the company’s listing on the Bucharest Stock Exchange via an IPO with a share capital increase of around 20%.

Vodafone, one of the largest players on Romania’s telecom market, has opened, in Magheru boulevard of Bucharest, its first store under the EasyTech concept, which proposes to clients more gadgets and an interactive retail experience, as part of the company’s strategy of repositioning itself on the market as a tech company.

Bento, Intellectually Curious, a Romanian entrepreneurial company specializing in the development and implementation of software solutions and the provision of IT infrastructure and Cloud services, has sealed a RON32 million contract for the implementation of Bento Field Service Management Solution, after winning a public procurement procedure carried out by DEER, Romania’s largest energy distributor, part of Electrica group.

Redport Capital and Mobexpert group have finalized the acquisition of 44,000 square meters of land in Straulesti area, near Petrom City, in a deal worth around EUR13 million.

Sweden’s group Lindab, which has a metallic tile and other building materials plant in Stefanestii de Jos, Ilfov county, has opened the tap of local investments, according to Andrei Sulyok, the company’s general manager.

Technology company Qualitance ended 2022 with EUR17.5 million revenue, an increase of about 35% on 2021, higher than expected.

Discount retailer Penny Romania has received a EUR160 milion cash infusion from its parent company in Germany, which it will use to speed up development, ZF has found.

Dunca Expeditii, one of the largest freight carriers in Romania, ended last year with RON210 million revenue, an increase of about 9%, ZF has calculated, and expects the revenue to be flat this year.

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, dropped to 6.95% a year on Tuesday (March 7), in line with central bank data.

Almost 600,000 women are shareholders or partners in companies operating on the Romanian market, which is 11% more than in 2019 and 46% more than in 2013, in line with Trade Register data analyzed by KeysFin experts.

The stock of industrial and logistics spaces in Romania reached 6.45 million square meters at the end of 2022 and over 90% is located in capital Bucharest and the Ilfov, West, South – Muntenia, North – West and Center regions, according to the Romania Industrial & Logistics Market report drawn up by real estate consulting firm Cushman & Wakefield Echinox.

Siemens Energy and independent power producer Mass Global Energy Rom S.R.L. have signed an agreement, which will see the former supply the HL-class gas turbine for the Mintia combined-cycle power plant of the latter, which will have a capacity of 1,700 MW and replace the decommissioned coal-fired power plant on the site.

The profile of the female candidate on the labor market is characterized by caution, as women apply for jobs where the matching level is above 70%, compared to men who take risks more easily, as per data from online recruitment platform BestJobs.

The companies listed on the Bucharest Stock Exchange reported better-than-expected results for 2022, considering that nine in ten firms recorded significantly higher turnovers, compared to four in ten firms at end- 2021, while 70% reported significantly higher profits, versus 60% in 2021, as per an analysis by BVBescu platform based on financial reports.

Termene.ro, a platform providing information about companies’ financial and legal data, has appointed Ioana Constantin to the position of Chief Executive Officer (CEO).

Nuclearelectrica (SNN.RO), Romania’s only nuclear power producer, advances Cernavoda NPP Unit 1 Refurbishment Project by selecting Candu Energy Inc., a member of the SNC-Lavalin Group, to conduct further pre-project work for Cernavoda’s Unit 1 CANDU reactor, ahead of its life-extension to support Romania’s energy security and decarbonization goals.