Romania Feed

Brewer Bermas Suceava logged net losses of RON174,717 in the first half of 2022, from net profit worth RON194,630 in the same period of last year.

Real estate developer Impact Developer&Contractor in the first six months of 2022 posted revenues from property sales worth RON90 million, up 31%, and net profit of RON14 million, compared with RON2.7 million losses in 1H/2021.

Sphera Franchise Group, the operator of the KFC, Pizza Hut and Taco Bell brands in Romania, for the first half of this year reported RON8.7 million losses (not including the impact of IFRS 16 adoption), from net profit of RON5.2 million generated in the same period of last year, while the group’s sales amounted to RON606 million, up 36% from 1H/2021.

Adobe Systems Romania, the local subsidiary of the US giant of the same name, one of the world’s largest software producers, in 2021 posted turnover worth RON278.7 million (around EUR57.2 million), up 17.6% from 2020, while its net profit was almost flat at RON17.5 million (EUR3.6 million).

Romanian software development company TARA Interactive plans to open an office in the Netherlands or Germany by yearend as projects abroad weigh 70% in its turnover, which hit RON4 million last year, up 65% from 2020.

The three most profitable large banks in Romania in 1H/2022 were BCR, Banca Transilvania and BRD-SocGen, with overall earnings of above RON2.5 billion, namely more than half of the total profit of the system.

Chiajna-located Omnia Plast, controlled by Italy’s Sunino Spa group, which produces winter sports equipment, toys and other plastic items in three local plants, boosted its turnover by 5% in the first half of this year, in line with the budgeted levels for this year.

UiPath, Romania’s first IT company that has reached Wall Street, in 2020 also became the country’s largest IT company by turnover reported to the Finance Ministry.

ABN Systems International (ABN.RO), an entrepreneurial company that distributes IT&C products and accessories and owns the Tellur brand, ended the first six months of 2022 with a net profit of RON1.9 million, down 23% compared with the first half of 2021.

Razvan Bosomoiu, who ran the local subsidiary of Belgian-held bakery manufacturer La Lorraine Romania more than four years, has taken over as CEO of brick manufacturer Wienerberger Romania, the company announced.

Appraisal & Valuation (APP.RO), a company that provides valuation, consulting and real estate development services and owns the NAI Romania brand, posted RON108,000 net profit in the first half of 2022, down 70.3% on the year-ago period.

Join Up Romania, part of the Ukrainian Join Up group, will begin operations on the local market this fall, by selling its first holiday packages.

ProdLacta Brasov (PRAE.RO), one of the largest players on the dairy market, ended the first half of 2022 with a net profit of RON505,600, up 15% compared with the year-ago period, while revenue reached RON66.3 million, up 18%, data from the half-year financial report published on the Bucharest Stock Exchange show.

iHunt Technology Import-Export (HUNT.RO), a supplier and manufacturer of mobile phones and gadgets, posted RON1.9 million net profit in the first half of 2022, down 29% from the year-ago period, its financial report published on the Bucharest Stock Exchange shows.

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, inched down to 7.95% a year on Monday (August 29), from 7.96% on Friday (August 26), central bank data show.

Britain’s investment and real estate management fund First Property Group has completed the sale of Tureni Logistic Warehouse located near Cluj Napoca, with a total area of around 8,300 square meters.

Idea Bank, taken over by Banca Transilvania in 2021, in the first six months of this year posted operating revenues worth RON71 million, up 11%, and RON14 million operating income, down 27% from the same period of last year.

Wine maker Purcari Wineries in the first half of this year generated RON124 million revenues, up 16%, and net profit of RON20.8 million, 2% above the level of the year-earlier period.

Bittnet, a group of IT companies listed on the Bucharest Stock Exchange, reported RON70 million consolidated revenues for the first six months of this year, up 45% from the year-earlier period, but switched to losses of RON557,529, from RON1.5 million net profit in 1H/2021.

Romanian business managers for August-October expect moderate growth of retail activities and steep price increases in constructions and trade, in line with a survey by the country’s statistics board INS.