Romania Feed

Aquila, the leading player in the local market for integrated distribution and logistics services, in the first half of this year posted RON961 million revenues, up around 11% from the year-earlier period.

Transport Trade Services (TTS), the biggest integrated freight shipper on the Danube, listed on the Bucharest Stock Exchange (BVB) last year, generated net profit of RON61.3 million in the first half of 2022, up 124.5% from 1H/2021, in line with calculations based on BVB data.

Foraj Sonde Craiova (FOSB.RO), a local drilling company for the oil and gas industry, recorded a net profit of RON1.7 million in the first half of 2022, compared with a net loss of RON2.9 million in the same period last year.

Sipex (stock symbol SPX), a construction materials and finishes distribution company, ended the first six months of 2022 with a net profit of RON8.4 million, up 49.6% compared with the first half of 2021.

Agribusiness group Agricover posted RON1.3 billion total consolidated revenue in the first half of 2022, double as much as in the same period in 2021 and operating profit of RON72 million, an increase of 46%, according to the financial report published on the Bucharest Stock Exchange.

Secom, a company specializing in the import and distribution of dietary supplements and teas, as well as integrative medicine, has opened two stores in AFI Cotroceni in Bucharest and Iulius Mall in Suceava, reaching a network of 16 in several major cities in the country.

The number of construction permits for residential buildings shrank by 9.4% to 26,577 in January-July and the decline was recorded in all regions of Romania, National Statistics Institute data show.

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.