Romania Feed

Romania is the only country in the European Union (EU) facing the excessive deficit procedure, therefore, it must carry out a fiscal adjustment process which is essential, the country's central bank governor, Mugur Isarescu, said on Friday (May 12) at the presentation of the Quarterly Inflation Report.

Romania’s largest electricity producer Hidroelectrica and also the most eagerly awaited listing on the Bucharest Stock Exchange invested about RON351 million in corporate bonds due on December 30, 2025, and with a 7.5% coupon in 2022.

Online retailer Elefant.ro on Friday (May 12) announced its new shareholding after evoMAG, with the help of Catalyst Romania Fund II, became the majority shareholder of Elefant Online, after taking over the ownership stake held by Fribourg Investments.

Banca Comerciala Romana notified the Bucharest Stock Exchange of its first green Eurobond issuance worth EUR700 million on Friday. The transaction is the bank’s debut on the international capital market and consists of 4NC3 senior non-preferred green Eurobonds, with a maturity of four years and the possibility of early redemption after three years.

Romania’s industrial production decreased by 3.8% in unadjusted data in January-March 2023 due to drops in the electricity, gas, steam and air conditioning supply (-13.5%), manufacturing (-2.3%), but the mining and quarrying industry saw a 1.7% increase, data from the country’s statistics board INS showed on Friday (May 12, 2023).

The average net salary in Romania increased by 6.7% in nominal terms in March 2023 compared with February 2023, to 4,554 (EUR929), data from the country's statistics board INS showed on Friday (May 12).

Foreign direct investment (FDI) into Europe stalled in 2022, rising only 1% compared with 2021, and remains 7% lower than in 2019, just before the COVID-19 pandemic hit, according to the annual EY European Attractiveness Survey 2023.

Romania's annual inflation rate fell to 11.2% in April 2023 compared to 14.5% in March 2023, 15.5% in February 2023 and 15.1% in January 2023, data from the country's statistics board INS showed on Friday (May 12).

Real estate developer One United Properties in the first quarter of 2023 posted consolidated turnover of RON439.5 million, 26% higher than the year-earlier period level, and net profit of RON151.7 million, down 9% from 1Q/2022.

MedLife, leader of Romania’s healthcare market, in the first quarter of 2023 registered consolidated turnover worth RON529 million, up 26.4%, supported by all the business lines of the group and 2022 and 2023 acquisitions.

BRD Soc Gen, the third largest player in the Romanian banking system after Banca Transilvania and BCR, for the first quarter of 2023 reported RON342 million net consolidated profit, up 30% from the year-earlier period.

Romanian natural gas producer and supplier Romgaz in the first three months of 2023 recorded RON2.9 billion turnover, 25.9% below the 1Q/2022 level amid a 5.69% drop in deliveries.

Hidroelectrica, Romania’s largest electricity generation company and the most anticipated listing on the Romanian capital market, in the first quarter of 2023 registered RON3.37 billion revenues, up 37% from the year-earlier period, while its net profit went up by 34% to RON1.74 billion.

Romanian pharma producer Antibiotice Iasi ended the first quarter of 203 with RON178 million sales, up around 40%, and RON22 million net profit, almost triple the level of the year-earlier period.

Aluminum producer Alro Slatina, one of the largest vertically integrated aluminum producers i Europe, in the first quarter of 2023 posted consolidated turnover worth RON822 million, 25% lower than in the year-earlier period, and net losses of RON52 million, from a net loss of RON18 million in 1Q/2022.

Nuclearelectrica, Romania’s sole nuclear power producer, ended the first quarter of 2022 with RON2.1 billion revenues, up 13.5% from the first three months of 2022, while profit fell by 6.4% to RON767 million.

Uber Romania, the US-held ride-hailing and micro-mobility company, is diversifying its product portfolio and launching the Uber Black service, where passengers can travel in premium vehicles such as the Mercedes-Benz E-Class, Volkswagen ID.4 or Tesla Model 3.

Galati-based builder Tancrad saw its revenue increase by 25% to RON364 million in 2022, the latest data on the Finance Ministry website show. The revenue returned to growth after the decline of 2021.

Albatros Gold, a medium-sized egg producer in Romania, has opened a compost plant where it makes organic fertilizer, following a EUR2 million investment. The investment was made to improve cost efficiency and to put on the market a product in higher and higher demand.

Elefant Online, one of the largest online retailers in Romania and owner of elefant.ro, on Thursday evening announced on the Bucharest Stock Exchange, where it has a bond issue listed, that two of its shareholders, Millennium Gold Resources Limited and Catalyst Romania SCA SICAR, had signed an agreement transferring their 58.84% and 9.62% stakes or 44 million shares to Evolution Prest Systems.