Romania Feed

Sipex, a major building materials wholesaler in Romania, registered RON11.6 million net profit in the first nine months of 2022, up by over 40%, while the company’s turnover rose by 14.7%, to RON227.6 million.

Almost all of Romania’s airports are carrying out or are set to start expansion and overhauling works. The total value of investments in local airports tops EUR600 million.

Macromex, the largest Romanian-owned distribution business, is considering entering the production segment, analyzing the market and areas now generating the biggest increases.

Polisano Pharma SRL pharmacies, the last part of the Polisano group still controlled by the Vonica family, who created the Polisano empire, were sold by Daniela Vonica (wife of former businessman Ilie Vonica) and Valentina Birsan.

Sortilemn in Gherla, one of the most important local suppliers of Sweden’s IKEA group, held by Austrian Michael Brandhuber, estimates EUR43 million revenue for 2022, up 14.5% compared with the previous year, ZF has calculated from the data supplied by the company.

The returns expected by investors kept the upward trend over the last year, but with a moderate advance, as the cost of capital maintained its ascending path in the third quarter of 2022, outlined since the second part of 2021, according to an EY Romania analysis.

The Black Friday campaign in Romania is expected to exceed EUR400 million in sales in the fashion, food, beauty, home-deco, and electronic sectors, according to estimates by consulting company Frames.

The company DAAS, part of EPTA Group, a multinational company specialized in the field of controlled temperature solutions, is investing in a warehouse of 9,000 square meters within the ELI Park Ploiesti logistics park where it will also have an office area that will serve all the company’s departments.

Romania’s Competition Council has approved a transaction whereby Polisano Pharma SRL pharmacies, held by Daniela Ioana Vonica and Valentina Bîrsan, were acquired in August 2022 by Marcos Provit, part of Evofarm group, which operates in pharmaceuticals retail and wholesale.

Romania's finance ministry raised RON1.23 billion on Monday (Nov 7) through two government bond issue, at annual average yields of 9.13% and 9.43%.

Online furniture and home decor retailer Vivre Deco, which has two bond issues listed on the Bucharest Stock Exchange, VIV25E and VIV26E, respectively, announced in a stock market report on Monday (Nov 7) that it submitted to the Bucharest court the restructuring plan within the agreement with creditors procedure.

Romania’s largest online retailer eMAG expects sales to reach RON639 million on this year’s Black Friday, which is set for November 11 and intended to be its biggest ever. The company actually introduced Black Friday in Romania 12 years ago.

The European Fund for Southeast Europe (EFSE), an impact investment fund focusing on fostering economic prosperity in Southeast Europe and the Eastern Neighborhood Region, has granted a EUR7 million Basel III-compliant Tier 2 Capital subordinated loan to Patria Bank.

Almost half of companies worldwide (47%) expect a significant increase in their group’s global effective tax rate, because of the implementation of the two-pillar global tax reform coordinated by the Organization for Economic Co-operation and Development (OECD), according to the Deloitte 2022 Global Tax Survey: Beyond BEPS (Base Erosion and Profit Shifting).

The number of real estate deals in Romania stood at 59,927 in October 2022, 2,127 fewer than in September 2022, data from the national cadaster agency ANCPI showed on Monday (Nov 7).

Romania’s Financial Supervisory Authority (ASF) has licensed the first crowdfunding platform locally, SeedBlink, with the firm managing the Seedblink Crowd website being authorized as a provider of participative financing services after the coming into effect of the law regulating this field, in August 2022.

Vertiv Romania, a provider of critical digital infrastructure solutions and IT support services, seeks to recruit over 20 IT specialists for various roles.

Dunca Expeditii, one of Romania’s largest freight carriers, expects to end 2022 with RON200 million turnover, up 3.4% from 2021.

Bacau-based Barleta plant, producing paper bags and sacks for major supermarket chains, pharmacy networks or bakery makers, has finalized the EUR5 million investment meant to boost its production capacity and warehouse.

Ignite Logistic, a freight carrier of Sibiu, founded in 2014 by entrepreneurs Ioan Stroia and Remus Deac, expects to end 2022 with RON46 million turnover, from RON40 million in 2021, below the projected level.