Romania Feed

Romanian fiber optic cable producer Romcab Targu Mures (MCAB.RO) said Tuesday in its financial report that it ended the first nine months of 2022 with a loss of RON85 million as compared to a net profit of RON19.4 million in the year-earlier period.

Romania places 39th among the world’s 61 most attractive countries for green infrastructure investments ranked by PwC in its Green Infrastructure Finance Propensity Index.

Bookster, known for the service that intermediates the connection between physical libraries and company employees, signed with real estate developer Genesis Property, a company held by Romania’s largest office space owner Liviu Tudor, to lease a space within Bucharest’s YUNITY Park project for a ten-year period, starting December 2022.

Medical group Provita, majority held by Medlife, has opened its first clinic outside of capital city Bucharest, in Suceava (north-eastern Romania), following an investment of EUR2.5 million.

Orange, Vodafone and RCS&RDS, the largest players on the local telecommunications market, will pay EUR432 million to the Romanian State for 5G frequency licenses, according to representatives of the country’s communications market regulator ANCOM.

Telecom operator Digi Communications (DIGI.RO) on Tuesday reported revenue of EUR1.1 billion for the first nine months of 2022, up 20% on the year, as per calculations by Ziarul Financiar (ZF) based on stock market data.

Romania’s industrial sales rose 26.6% year-on-year in the first nine months of 2022, data from the country’s statistical office INS showed on Nov 14.

Central European companies intend to invest in the next two years in research and development (R&D) activities the same annual amount as they did in the last three years, and 25% of the companies surveyed plan to increase their investments in such activities, as per Deloitte Central European Corporate R&D Report 2022 conducted in seven countries in the region, including Romania.

Record number of investors on the stock exchange: the number of direct investors at the Bucharest Stock Exchange (BVB) is continuously increasing for the 11th consecutive quarter and reached 128,000 investors for the first time, according to data from the Investor Compensation Fund (FCI) at the end of the first nine months of 2022.

Romania's gross domestic product (GDP) grew by 1.3% in real terms (in unadjusted data) in the third quarter of 2022 as compared to the second quarter of 2022, a flash estimate from the country’s statistics board INS showed on Tuesday (Nov 15).

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, has decreased to 7.98% a year on Tuesday (Nov 15) after eight days of decline, in line with central bank data.

Arctic Stream, an integrator of IT infrastructure and security, in the first nine months of 2022 generated RON4.28M net profit, compared with RON1.8 million in the same period of 2021.

In the first ten months of 2022, passenger car production in Romania reached 425.423 units, up 27.7% from the year-earlier period, in line with data from the association of automotive manufacturers in Romania, ACAROM.

Hidroelectrica, Romania’s largest energy producer, ended the first nine months of 2022 with RON3.5 billion profit, 37% higher than in the corresponding period of 2021, amid RON6.8 billion revenues, up 47%.

Romanian state-owned oil transporter Conpet Ploiesti registered RON351.4 million turnover in the first nine months of 2022, 12.2% above the year-earlier result.

Construction materials producer Prefab Bucuresti reported net profit worth RON7.45 million in the first nine months of 2022, down 22.9% from the year-earlier period, amid RON72.9 million turnover, slightly up, by 0.61%.

eMAG, the largest online retailer in Romania and the companies operating on its marketplace, sold products and services worth RON644 million on November 11, in the 12th Black Friday campaign of the retailer.

Vegetable oil producer Argus Constanta (UARG.RO) posted RON36.2 million net profit at the end of September, 12 times higher than the RON3 million of the year-ago period, the company said in its latest financial report submitted to the Bucharest Stock Exchange.

Alro Slatina Group, one of the largest vertically integrated aluminum producers Europe, saw its net losses widen to RON110 million in the first nine months of 2022 from the RON25 million in the year-ago period, due to the rising electricity costs and decline in demand.

Romania's finance ministry raised RON480 million on Monday (Nov 14) selling bonds maturing in October 2028, at annual an average yield of 8.35%.