Romania Feed

Alpha Bank Romania posted EUR11 million net profit in the first quarter of 2023, while its assets reached EUR4.4 billion, 13% higher than in the year-ago period.

Real estate developer Forty Management has signed an agreement with Ascott hotel chain held by Singapore’s largest real estate investment company to bring The Crest Collection brand to Bucharest. The new hotel should be inaugurated in 2026, following a EUR22 million investment.

Alpha Bank, one of the ten largest banks in Romania, is in talks with telecommunications group Orange over buying Orange Money IFN Romania, financial market sources told ZF.

Romanian investors have in the past five years purchased real estate properties worth EUR1.1 billion, accounting for 28% in the overall volume traded in this period, becoming the most dynamic buyers of income generating assets in Romania, in line with data provided by real estate consultancy Cushman & Wakefield Echinox.

MedCity, a developer of buildings for the healthcare field part of SofMedica group specialized in medical equipment wholesale, has bought an over 1,000-sqm building in Timisoara from FF Group Romania, the local unit of Greek fashion group Folli Follie in a deal handled by Colliers.

Distribution and logistics company Aquila ended the first quarter of 2023 with 20% higher revenues from the same period of 2022, at RON562 million.

Staer International, a company that controls several Staer-branded stores, ended 2022 with turnover worth around RON84 million (EUR17 million), 5.7% lower than in 2021, in line with ZF calculations based on Finance Ministry data.

Electronic parts and equipment manufacturer Zes Zollner Electronic, the local subsidiary of German concern Zollner Elektronic, for 2022 reported turnover of above RON2.6 billion (EUR528.8 million), up around 75% from 2021.

Marius Pantis, general manager of window and door manufacturer Optimedia, says the company expects sales abroad to rise by 10% in 2023.

RTC, a stationery and office supplies provider, aims to hit EUR100 million turnover in the next five years.

Mircea Varga, executive board chairman of Teilor Holding, a group of companies that includes luxury jewelry chain Teilor, non-bank financial institution Invest Intermed GF IFN and Teilor Invest Exchange, says the group’s 2023 investment plan amounts to some EUR5 million.

Okamoto Optics, a major producer and supplier of large-sized optical components for lasers, will manufacture high-power mirrors in a center located near Magurele laser, with the state-backed investment amounting to EUR20 million, in line with information posted on LinkedIn by Sebastian Burduja, Romanian research, innovation and digitalization minister.

Romania’s national commission for prognosis and statistics in its spring report revised downward its projection for the country’s inflation to 7.4% at the end of 2023 from a previous projection of 8% in January 2023, and kept its forecast on the country's 2023 economic growth at 2.8%.

CANCOM SE, one of the leading integrated IT services providers in Germany, has acquired Austria's K-Businesscom-Group, including its Romanian subsidiary.

Tamura Corporation, one of the largest manufacturers of electronic components in Japan, has officially announced the establishment of a subsidiary in Romania to produce battery chargers for power tools, in response to the growing demand in Europe.

Footwear retailer Benvenuti posted RON30.8 million revenue in the first quarter of 2023, an increase of about 31% on the year-ago period, the retailer said.

The Romanian State, through the Energy Ministry, has significantly increased its ownership stake in state-run Oil Terminal (OIL.RO), the largest port operator in the Port of Constanta, following a share capital increase aimed at including the state's plots of land into the company's patrimony.

Computer and electronics retailer Altex, the leader of the local market, has budgeted EUR30 million investments for this year, which will go mostly to buying land and building stores. The amount does not include stocks of merchandise.

Rompetrol Well Services (PTR.RO), Rompetrol’s oil services division, has appointed Batyrzhan Tergeussizov Chairman of the Board of Directors for a three-year term starting May 1, 2023.

Lasselsberger Ceramics Romania Group, the owner of the CESAROM brand, has invested EUR1 million in a new production line for the rectification of tiles at its factory in Cluj Napoca.