Romania Feed

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 7.97% a year on Thursday (August 18), from 7.98% on Wednesday (Aug 17), as per central bank data.

Brewer Bergenbier, part of the Molson Coors Group, announces a partnership with integrated provider of mobility and financing solutions Autonom, to outsource its fleet.

CEC Bank has provided a EUR15 million line of credit to finance the ongoing operations of AAylex One, the company behind the Cocorico poultry brand.

Austrian-held insurer Vienna Insurance Group (VIG), which owns Omniasig, Asirom and BCR Asigurari de Viata in Romania, ended the first half with gross written premiums of EUR6.44 billion, an increase of 11.6% on the year-ago period.

Romania produced 600,550 tons of cabbage in 2020, making it the third largest producer in the European Union after Germany and Poland, according to statistics of the United Nations’ Food and Agriculture Organization (FAO).

State-run electricity distributor and supplier Electrica (EL.RO) posted RON175.5 million loss in the first half of 2022, compared with a RON76.1 million profit in the year-ago period.

Romanian pharmaceutical manufacturer Antibiotice (ATB.RO) Iasi’s total revenue from sales reached RON248.1 million in the first half of 2022, up 54% on the RON161.4 million in the year-ago period, the company said in its report to the Bucharest Stock Exchange.

Snack distributor Mogyi Romania, the local subsidiary of the Hungarian Mogyi Group, posted RON79.4 million (EUR16.1 million revenue) in 2021, an increase of 4% from the previous year, according to ZF calculations based on Finance Ministry data.

Dacia has all the models in its range among the top selling cars in Romania for the first time, after the new Jogger also entered the top ten, in January-July, the statistics of the Automotive Manufacturers and Importers Association (APIA) show.

Chimcomplex (CRC.RO), Romania's largest chemical plant, on Wednesday (August 17) informed investors that it would temporarily halt the production activity at the Borzesti industrial platform, as per a stock market report.

Euroins Romania, the largest insurance company on the local market after the collapse of City Insurance, ended 2021 with a loss of RON19 million and last year was its third in the red in a row, Euroins Romania's annual report shows.

Bookstore chain Carturesti is investing EUR450,000 in AudioTribe, the first Romanian platform with audiobooks in Romanian and English, launched a year ago.

Keysight Technologies Romania (the former Ixia), the local division of US Keysight Technologies, had a turnover of over EUR34.6 million (over RON169.1 million) in 2021, up over 11% from almost EUR31 million (RON151.6 million) in 2020, as per finance ministry data.

Dumagas, one of the largest freight forwarders on the market, ended the first half of this year with 10% growth in revenue and expects revenue to reach EUR38-40 million by yearend, according to company officials.

Romania’s natural gas transmission company Transgaz (TGN.RO) ended the first half of 2022 with a net profit of RON177.3 million, up 33% from RON133.3 million in the same period of 2021, the company said in its half-year financial report on Wednesday.

Gloves Global, a company established last year and controlled by Germany’s PPE group plans to build a protective gloves factory in a RON280 million (about EUR60 million) investment in Bucov, Prahova.

Nuclear power producer Nuclearelectrica (SNN.RO) placed with Banca Romaneasca a term deposit without extension in the amount of RON100 million, on August 16, 2022, in line with a stock market report.

The liquidity recorded at the Bucharest Stock Exchange (BSE) remains high on several pillars after the first half of the year saw significant increases. Still, in July the liquidity returned to summer levels as investors and financial analysts were waiting for the end of the financial reporting season to have a first indication of how Romanian listed companies would perform this year, BSE said in a statement.

Online retailer evoMAG, held by entrepreneur Mihai Patrascu, has attracted an investment of EUR2 million from Catalyst Romania, one of the most important technology-focused venture capital funds in Romania, in exchange for a minority stake in Evolution Prest Systems, the company holding the website www.evoMAG.ro.

Globalworth, the largest office space owner in Romania and Poland, on Wednesday said that Sameday, one of the leading courier services firms in Romania, signed a seven-year lease contract for a surface area of almost 2,600 square meters within the Business Park Stefanesti project.