Romania Feed

Reckitt Benckiser Romania, the local subsidiary of the British company, which brings Nurofen brand locally, the bestselling over-the-counter drug, ended 2021 with RON390 million turnover, down 11% on the year.

Spirits producer Prodvilanco, majority held by Mircea Todea, Vasile Albon and Marcel Hosu, projects RON57 million turnover for 2022, up 5% on the year. As regards profit, the company’s representatives expect a decline on inflation fallout.

Vlad Ardeleanu, CEO of medical operator Medima Health, says the company will see turnover more than triple in 2022 against 2021. This would drive its business to over RON40 million, in line with ZF calculations.

Alternative investment fund Agista, helping local SMEs get listed on the Bucharest Stock Exchange, mulls clinching as many as six deals in 2022, says CEO Nicolae Kovacs.

SIF Oltenia (SIF5.RO), as a shareholder holding 4,364,430 shares or 3.270% of Romania’s export and import bank EximBank, on Thursday expressed its intention to withdraw from the status of shareholder thereof in accordance with the provisions of Article 134, paragraph 1 of Law 31/1990 R, the company announced in a report to the Bucharest Stock Exchange.

Michelin Romania, part of the French Michelin Group, one of the world's largest tire manufacturers, posted more than RON4.21 billion (EUR856.3 million) revenue in 2021, up 32.4% from the previous year’s RON3.18 billion (EUR658 million), according to data from the Finance Ministry.

The green bonds of Banca Comerciala Romana (BCR), the second largest lender in Romania by assets, started trading on the Main Market of the Bucharest Stock Exchange on Thursday (June 9), under the ticker symbol BCR27A.

Shareholders of Romanian electricity supplier Electrica Furnizare approved on June 9, 2022 a total ceiling of short-term financing of RON1.5 billion up to RON1.7 billion to be contracted in 2022 from commercial banks and international financial institutions for the company’s current activity, as per a stock market report.

Romania’s Competition Council has approved a transaction whereby Marcos Provit, part of Evofarm group, acquired the Gifarm pharmacy in Tecuci at end-March 2022.

Construction company P.A.B. Romania, controlled by entrepreneur Ion Sandu in Arad, posted RON195.5 million (EUR39.7 million) revenue in 2021, down 19.7% compared with the RON243.6 million (EUR50.4 million) of the previous year, ZF has calculated from Finance Ministry data.

Theta Furniture&More, one of the largest players in the interior design and custom furniture market in Romania, has invested EUR4 million in an own factory located in the Paulesti commune (Prahova County).

Low-cost airline Blue Air has recently canceled flights scheduled for the summer season 2022 on at least 20 routes to and from Romania.

Octavic, a provider of digital solutions for the manufacturing industry, has been awarded four international European projects over the last year, providing the company with financing of over EUR770,000.

Software developer RebelDot has launched Rebel Ventures, an investment mechanism for tech startups that will manage the company’s strategy of investing in local startups and not only.

Grup Serban Holding (GSH.RO), a Romanian entrepreneurial company active in several fields in agriculture, on Thursday said it registered consolidated revenue of RON530.2 million in 2021, up 50% on the year, and a net profit of RON25.8 million, up 7% on the year.

Julius Meinl Romania, a company held by Austrian group by the same name, one of the largest actors on the premium coffee market, appointed Sorin Brinzan chief executive officer and Dinu Graur chief financial officer as of April to innovate processes from the inside, it said in a release.

Erste Group, which owns Romanian lender Banca Comerciala Romana, on Thursday (June 9) revised upwards its forecast on Romania’s economic growth to 5.1% in 2022, from a previous projection of 2.8% in its report released at end-April.

The United Nations World Food Programme (WFP) is working with Uber Technologies Inc, a global mobility and delivery platform, to transport emergency assistance to people in need in urban areas across Ukraine through the use of a custom-built version of Uber’s platform.    With larger vehicles facing issues reaching those in need in built-up areas, […]

The curtains dropped on Business Review’s Rising Cities. Smart Future 2022 after more than 4 hours of lively debates between top business leaders, local officials, the heads of European Investment Bank and European Commission representations in Romania, and members of the civil society. Thank you to all those involved, the on-site and online audience, the speakers and […]

Housing prices in Romania’s capital city Bucharest are among the most affordable in the European Union (EU), in line with a report released by real estate consultant SVN Romania based on Eurostat official statistics and data on national average wages and residential prices across EU capital cities.