Romania Feed

Stanleybet Capital, a superstructure of the Game World Group, one of the leading sports betting and gambling operators in Romania, ended the first half of 2022 with consolidated losses of RON19.84 million, up from the RON7.7 million in the year-ago period.

New car registrations in Romania increased by 33.38% to a total 11,927 units in September 2022 versus September 2021, data from the association of automotive manufacturers in Romania (ACAROM) and of Romania’s General Directorate for Driving Licenses and Car Registration (DRPCIV) showed on Monday (Oct 3).

Rompetrol Rafinare, a member company of the KMG International Group (Rompetrol), initiated this year an extensive program of maintenance, rehabilitation and modernization of the storage capacities for the products obtained at the Petromidia Navodari and Vega Ploiesti refineries and total investments are estimated at around $40 million for 2022-2027 period.

Romania's finance ministry raised RON201 million on Monday (Oct 3), below the targeted level of RON300 million, selling bonds maturing in 2025, at an annual average yield of 8.6%.

Romania's foreign exchange reserves increased to EUR43.7 billion in September 2022, higher by EUR860 million than in August 2022, central bank data showed on Monday (October 3).

UK software and IT services provider Endava, which has ten delivery centers in Romania, has appointed Roxana Cîrcu as regional manager for the company’s operations in Central Europe (Bulgaria, Republic of Moldova and Romania).

KPMG announced on Monday (October 3) that Ramona Jurubita was re-elected to serve a second three-year term as Country Managing Partner (CMP) of KPMG in Romania and Moldova.

Law firm Filip & Company has assisted businessman Florin Pogonaru and Tudor Georgescu, CEO of Promateris, a Romanian manufacturer of biodegradable and compostable packaging, with the sale of a 24 % stake to Paval Holding owned by Adrian and Dragos Paval, the shareholders of do-it-yourself (DIY) retailer Dedeman.

Patria Bank (PBK.RO) has expanded its management team and appointed Razvan Vasile Prodea to the position of Deputy General Manager Risk Division, for a four-year mandate, effective October 1, 2022.

Romanian video game developer Amber Studio on Monday (Oct 3) announced that a fund advised by Emona Capital LLP (“Emona Capital” or “Emona”), a London-based investment firm, has agreed to invest up to $20 million in the company at a $190 million post-money valuation to accelerate Amber’s global growth through M&A transactions.

Vista Bank has successfully completed the merger with Crédit Agricole Romania, according to a statement.

Restart Energy One, an independent electricity and gas supplier, ended the first half of 2022 with RON110 million turnover, up 73%, while net profit rose to RON6.7 million, from RON3 million losses in the first half of 2021.

Elefant group, which manages Elefant Online platform, in the first half of this year reported turnover worth RON95.3 million, down 11% from the year-earlier period, and RON12 million losses, amid clients’ shrinking purchasing power and changing consumption preferences, from the online segment to physical bookstores.

OMV Petrom, the largest integrated energy company in Southeast Europe, will build, in partnership with Complexul Energetic Oltenia (CE Oltenia), four photovoltaic (PV) parks with a total power capacity of ~450 MW, with investments set to top EUR400 million.

Poultry producer Safir Vaslui, controlled by entrepreneur Ghirghi Safir, returned to profit last year, with a net gain of RON8.6 million (EUR1.7 million), from losses of RON12.3 million (EUR2.5 million) in 2020.

Freight forwarder Cargo Partner Expeditii, the local subsidiary of the Austrian group of the same name, targets EUR95 million turnover this year, from EUR79 million last year.

Rail freight carrier LTE Rail Romania, part of Austria’s LTE Group, posted 28% higher turnover in the first half of this year, according to the company’s officials.

Canned food manufacturer Prefera Food, owner of the "Unfished", "Capricii si Delicii" and "de Azi" brands, with bonds listed on the Stock Exchange, announced a net profit of RON27.6 million in the first half of 2022, up from a net loss of RON3.2 million last year.

Shareholders of Libra Bank, a member of the American investment group New Century Holdings, approved the distribution of dividends amounting to RON50 million.

Holde Agri Invest (HAI.RO), a Romanian agribusiness company, announced in a stock market report on Friday (Sept 30) that investment vehicle SevenX Ventures reached an ownership stake of 16.25%, from 12.11% previously, which means it bought an additional stake of 4.14% in Holde.