Romania Feed

Remedia Group (RMAH.RO), which has pharmaceutical wholesale and retail operations and sells robots to pharmacies, posted RON136 million revenue in first quarter of 2023, an increase of 10% on the year-ago period, the company said in a report to the Bucharest Stock Exchange.

The initial public offering of Agricover Holding set at up to RON416 million and run from May 4 to 16, 2023, closed unsuccessfully, as the low appetite of investors made the company drop plans to continue on to the Bucharest Stock Exchange.

Arctic Stream (AST.RO), an IT infrastructure and security integrator, reported a net profit of RON2.2 million for the first quarter of 2023, up 146% from the net result reported in the year-earlier period, and a turnover of RON29.4 million, up 174% on the year, as per data from the company's quarterly financial report published at the Bucharest Stock Exchange

Millenium Insurance Broker (MIB.RO), an insurance company listed on the local capital market at the beginning of 2023, has informed its shareholders of its acquiring 5% of the share capital of technology startup Insuretech.

Construction materials wholesaler Sipex Company (SPX.RO), which participated in the construction of the Ghencea and Giulesti stadiums, reported a turnover of RON63.1 million for the first three months of 2023, almost identical to the level reported for the first quarter of 2022, as per the company's financial report published at the Bucharest Stock Exchange.

Redport Capital and Mobexpert Group will be investing EUR150 million in a residential project located in the northern part of capital city Bucharest, in the Straulesti area.

A report by the World Economic Forum shows that although 69 million jobs will be created until 2027, 83 million jobs will be lost, resulting in a net loss of 14 million jobs, i.e., 2% of current occupancy.

Consumers globally continue to reign in their spending amidst a challenging cost-of-living environment, with 94% of consumers now worried about the rise of living costs as they continue to navigate inflation, according to the 12th edition of the EY Future Consumer Index (FCI).

E-Distributie Muntenia, the electricity distribution operator in capital Bucharest and the Ilfov and Giurgiu Counties, part of Enel Group, is upgrading and expanding the 20 kV grid for the primary substation Dudesti 110/20/6kV located in Bucharest, within an investment worth almost RON7 million.

Romania continues to rank 14th in the European Union by the number of new passenger cars registered in January-April 2023, with 46,831 units, 25% more than in the same period of 2022, data from the European Automobile Manufacturers Association (ACEA) showed on Wednesday (May 17).

The number of companies with foreign capital newly established in Romania grew by 10.3% in the first three months of 2023 compared to the same period of 2022, to 1,809 units, as per data from Romania's Trade Register Office.

sennder, a Germany technology company active on the road freight transport market, has leased 1,400 square meters in One Cotroceni Park office building to relocate its local office as part of its strategy to cement its foothold in Romania.

Grup Serban Holding, a Romanian entrepreneurial company operating in several agricultural fields, has bought a new farm, in Bacau county, with an area of around 343.400 square meters.

Austrian-held Leier, which has acquired several building materials companies locally in recent years, last week opened a new precast concrete element plant in Iasi.

Nimet, a major producer of chrome plated steel bars and tubes, is investing EUR20 million in a new plant in Targoviste.

Chimcomplex (CRC.RO), the leading producer and supplier of vital chemical substances in the region, in the first quarter of this year posted RON425 million turnover, compared with RON605 million in 1Q/2022, and RON8.3 million losses, compared with RON60 million net profit.

Roca Industry (ROC1.RO), which owns stake in several construction material companies and is in turn almost 61% held by Roca Investments, has called shareholders for a meeting on June 22 to approve the acquisition of electrical wiring maker Electroplast for RON46 million (EUR9 million).

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, continued its downward path, falling to 6.60% a year on Tuesday (May 16), in line with central bank data.

Roca Industry Holding (ROC1.RO) reported for the first quarter of 2023 a consolidated turnover of RON82.3 million and a loss of RON5.5 million, as per the quarterly financial report published at the Bucharest Stock Exchange Tuesday evening.

Swedish-held Medicover Romania, the third largest private healthcare provider in the country by revenue, will inaugurate a new multi-specialty hospital in Pipera, northern Bucharest, early in June, following a EUR20 million investment announced two years ago.