Romania Feed

Rompetrol Well Services (PTR.RO), the oil services division of Rompetrol Group, ended the first nine months of 2022 with a net profit of RON1.4 million, up 10.8% on the year, and a turnover of RON38.1 million, up 19.1% on the year, as per calculations by Ziarul Financiar (ZF) daily based on data from the company’s quarterly financial report sent to the Bucharest Stock Exchange.

Verdino, a startup co-founded by entrepreneurs Raul Ciurtin and Eberhart Raducanu, which makes pea protein-based foods, said it would invest EUR4 million in expanding the production line and the brands in its portfolio, with focus on developing a new range – breaded products and ready-to-eat snacks.

Three out of ten smartphone users in Romania (31%) are considering subscribing to 5G services in 2023, in line with data centralized in the Ericsson ConsumerLab report “5G: The Next Wave.”

Conrep SA, a construction company based in Maramures and held by several associates, saw its turnover going up by 67% year-over-year to RON72.3 million in 2021, thus becoming one of the companies in the field of constructions with the biggest annual increase.

Romania is on the investment radar of Italian companies, as a number of Italian businesses operating in Russia and Ukraine are looking into options to relocate their plants abroad, not just because of the war but also to shorten their value chains and ensure greater resilience, says Italian Ambassador in Bucharest Alfredo Durante Mangoni.

Only 28% of Romanians have benefited from pay raises in 2022, 47.1% of them have received salary increases of up to 5% and 36.8% have seen increases of 5% to 10%, as per a survey conducted by CEC Bank in partnership with banking comparator FinZoom.ro.

Hidroelectrica celebrated 50 years since the commissioning of the most important objective on Romania’s inland rivers – the Lotru hydropower plant.

Fortech, one of the leading providers of software services in the region of Transylvania, with regional offices in Romanian cities of Iasi, Oradea and Brasov, has signed an agreement to sell the business to GlobalLogic, a Hitachi Group company and Digital Engineering leader.

Sodexo Benefits & Rewards Services (BRS) Romania has appointed Florentina Ciontea to the position of Human Resources (HR) director.

Porsche Engineering, a supplier of technological services and the local subsidiary entirely held by Porsche, has announced the opening of an office of over 2,000 square meters within the United Business Center building of Iulius Town, a project developed in the city of Timisoara by IULIUS Group and Atterbury Europe.

SafeTech Innovations, a Romanian cybersecurity company listed on the AeRO market of the Bucharest Stock Exchange, for the first nine months of 2022 reported RON5.3 million net profit, up 134% year-on-year.

International Finance Corporation (IFC), the World Bank’s private investment arm, has granted a EUR40 million loan to Garanti BBVA Romania (GBRO) for the funding of mortgages destined to green housing and green loans for house refurbishment.

Corrugated cardboard manufacturer Vrancart Adjud, a company in which Paval brothers, the founders of Dedeman, hold a 17% stake, registered RON410.1 million total revenues in the first nine months of 2022, up 51.5% above the 2021 level.

Dumagas, one of the largest freight forwarders on the local market, controlled by investment fund Bancroft, will end 2022 with EUR38 million turnover and switch to profit after reporting losses in 2021.

Paint maker Köber of Neamt county has bought a 20,000-sqm land plot in the industrial area of Deva with the aim of developing a regional logistic hub.

The Board of Directors of Sphera Franchise Group (SFG.RO), the operator of the franchised KFC, Pizza Hut and Taco Bell restaurants in Romania, called a General Meeting of Shareholders for December 8, 2022, a document submitted to the Bucharest Stock Exchange shows.

Impact Developer & Contractor (IMP.RO), the first real estate company listed on the Bucharest Stock Exchange, announced establishment of its own architecture and design firm – Impact Alliance Architecture (IAA).

The probability of a major cyberattack ranks second, after the global recession, in the top five scenarios that Central and Eastern Europe (CEE) CEOs, including those in Romania, are integrating into their resilience plans for 2023.

Blue Air announced that the company's shareholders had been contacted by representatives of the Authority for State Assets Management (AAAS) to hand over 75% in the airline to the Romanian government.

Romania’s Competition Council has approved a transaction whereby Electromontaj, which specializes in constructions for energy projects, acquired in September construction company Hidroconstructia and the companies it controls, respectively Hidroturism and Hidroedil.