Romania Feed

Agroland Business System (AG.RO), the Romanian retail, agriculture and food entrepreneurial group which owns the largest network of agricultural stores in Romania, reported RON225 million revenues for the first nine months of 2022, up 32% from the year-earlier period, and RON3.6 million net profit, 53% lower.

Cluj-Napoca-based software producer Fortech, recently acquired by Japan’s Hitachi, increased its turnover by 60% in 2021 from 2019, ahead of the pandemic.

JYSK, the Scandinavian furniture and home products retailer, generated RON841.7 million (EUR171 million) in the 2021-2022 financial year, up 6.1% from the previous one.

Petru Ruset, managing director of Siemens Energy Romania says the company plans to top the 1,000-employee mark by end-2024 with the over 450 existing colleagues it has recruited in the past year.

Agricover Holding SA on Friday informed investors that it had appointed WOOD & Company Financial Services a.s. to advise it in exploring opportunities to raise capital to finance the growth plans, including but not limited to a potential initial public offering of shares in Romania, followed by the listing of shares on the Bucharest Stock Exchange.

Fondul Proprietatea (FP.RO) has slightly lowered its stake in OMV Petrom (SNP.RO) in the third quarter - July, August, September, by selling about 40 million shares on the Bucharest Stock Exchange, which got it RON20 million at an average price of RON0.47/share, ZF has calculated.

Romania is in the main category of the Deloitte Technology Fast 50 Central Europe ranking, which includes technology startups with the highest growth in the region, through Wave Studio, a developer of mobile Android and iOS apps, 22nd with a growth rate of 1,319% of revenue in 2018-2021.

Prospectiuni Bucuresti (PRSN.RO), a geological prospecting company owned by businessman Ovidiu Tender, announced a net profit of RON9.5 million in January-September 2022, compared with a RON20.7 million loss in the previous year. In the first quarter of 2022, the group made a loss of RON3.5 million.

Paval Holding Properties, the real estate investment vehicle of the Paval family (owners of DIY retailer Dedeman, among others) has hired Marian Roman, who had previously led the CA Immo team in Romania, to supervise the new office division, Europolis Office, established after its latest transaction.

Agroserv Mariuta, the company owning the Laptaria cu Caimac brand, ended the first nine months of 2022 with a loss of around RON960,000, after having generated RON3.4 million net profit in January-September 2021.

The shareholders of CE Oltenia have decided to resume talks with Tinmar Energy for the setting up of a series of joint ventures for the construction of four photovoltaic parks with total installed capacity of around 280 MW and a 475 MW gas-fired power plant in Turceni.

AROBS Transilvania Software, an IT company majority held by Cluj entrepreneur Voicu Oprean, reported RON38.3 million net profit for the third quarter of 2022, up 33% from the year-earlier period.

Aquila, leader of Romania’s consumer goods distribution, wants to develop on the frozen food segment, but is also contemplating company takeovers.

Sphere Franchise Group, the operator of the KFC, Pizza Hut and Taco Bell franchises in Romania, Italy and the Republic of Moldova, has opened a new Taco Bell restaurant in Electroputere Mall Craiova shopping center.

Romanian agribusiness company Holde Agri Invest plans to build storage capacity for Contesti farm, expand its irrigation projects and buy further land plots, with its plans set to be supported by an issue of bonds listed at the Bucharest Stock Exchange, according to the company’s CEO, Liviu Zagan.

The ten most valuable companies in Romania’s economy are this year valued at RON218 billion (EUR44 billion), 20% lower than in 2021.

Press Glass Production SRL, the local subsidiary of Press Glass Holding Poland, one of the largest thermal insulation glass manufacturers in Europe, is planning a EUR50 million investment in a plant on an 8-hectare plot in Oradea.

Builder Conim Partners (Arges County) saw its revenue increase 40% in 2021 compared with the previous year, which made it one of the construction companies with the highest growth year on year. Revenue stood at RON161.1 milion in 2021.

Euroins Romania, leader of the local third-party motor vehicle insurance (RCA) market, continues to hold the top spot at the end of the first nine months of 2022, with a 31% market share, a level slightly lower as compared to the first half of 2022.

Craiova can attract new investments in the automotive industry beyond the almost EUR500 million already announced by Ford Otosan after the takeover of the plant from the Americans.