Romania Feed

Private labels developed by retailers, ever more present on shelves in recent years, are likely to “steal” sales of EUR1-2 billion from major brands in 2022, as Romanians are ever more parsimonious, in line with ZF estimates based on market data.

One United Properties (ONE.RO), one of the largest real estate developers in Romania, announced the closing of the share capital increase operation on Wednesday (August 3) and raising RON253.7 million (EUR51.5 million) from investors.

Chimcomplex (CRC.RO), Romania's largest chemical plant with industrial sites in Onesti and Ramnicu Valcea, on Wednesday (August 1) informed investors that it would temporarily halt the production activity at the industrial platform in Ramnicu Valcea, as per a stock market report.

Alina Popa has been appointed Country Manager of Coface Romania, effective August 1, 2022.

Real estate developer Hagag Development Europe has been authorized to start consolidation and renovation works on the Stirbey Palace, a historical monument in downtown Bucharest, where Hagag will develop its first retail project, H Stirbey Palace.

Real estate developer Hagag Development Europe has received the permit needed to start consolidation and renovation works on the Stirbey Palace, a historical monument in downtown Bucharest, where Hagag will develop its first retail project, H Stirbey Palace.

Wine producer Purcari (WINE.RO) in a stock market report on Wednesday (Aug 3) announced the installation of a photovoltaic system, on the rooftop of Purcari Winery’s production site.

Carrefour Romania’s turnover grew by 4.1%, in comparable terms, in the first half of 2022, versus sales of EUR1.12 billion in the same period of 2021, placing the local market second in Europe regarding the evolution of the French group’s sales in the first year-half.

Industrial production prices for the domestic and non-domestic markets grew by 48.1% in June 2022 versus June 2021, data from Romania’s statistics board INS showed Wednesday (August 3).

Romania’s investment market increased to EUR518 million in the first half of 2022 as compared to EUR360 million in the same period in 2021.

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, on Wednesday, August 3rd, reached 8.05% a year, up from 8% on Tuesday.

Alpha Bank, among the ten largest banks by assets on the Romanian market, in the first half of this year posted EUR18.2 million gross profit, up 71.6% from the 1H/2021 level.

Romania’s housing market is heading toward a new record in terms of deliveries in 2022 as well, in a context dominated by rising prices of building materials and implicitly of apartments, as the gap between deals and deliveries continues to be extremely high, both in Bucharest and nationwide, reveals an analysis by real estate consulting firm Colliers.

AROBS Transilvania Software, the largest tech company listed on the Bucharest Stock Exchange, is launching the AROBS Engineering unit, officially registered as AROBS Development & Engineering, after completing the takeover of the business line and team of Software Development Services from Sweden’s Enea AB in early June.

Retail turnover, the main barometer for private consumption, in the first six months of this year went up by 5.2% in gross series from the year-earlier period, amid rising sales of car fuel (+9.6%), non-food items (+6%) and of foodstuffs, beverages and tobacco (+2%), in line with data from Romania’s statistics board INS.

BRD for the first half of this year reported total net banking income of RON1.6 billion, up 9%, and operating expenses of RON806 million, 5.1% above the 1H/2021 level.

Lithuania’s Apex Alliance group, controlled by several Lithuanian entrepreneurs, which owns five hotels in Romania, operated with an average 80% occupancy rate in the first half of this year, according to the company’s officials.

Starting September 2, 2022, OMV Petrom (SNP.RO) will set off the payment of special dividends worth RON2.5 billion to the shareholders registered on August 11, 2022.

Global technology and software company Emerson, part of US-based Emerson, reported a turnover of RON1,080 billion (EUR219.6 million) for 2021 in Romania, up 12.3% from 2020, as per calculations by Ziarul Financiar (ZF) daily based on finance ministry data.

Meta Estate Trust, a holding company operating in the real estate sector, on Tuesday said it closed its public offering for the sale of shares.