Romania Feed

Revenues generated by the company managing Bucharest Intercontinental hotel dropped by 16% in the first half of this year, to just RON8.4 million.

ProdLacta, a major player on Romania’s dairy market, in the first six months of this year generated net profit worth RON441,000, down 49.5% from the first half of 2020, according with ZF calculations based on the half-year report the company filed with the BSE.

Bacau-based Simba Invest, a major consumer goods distributor in Romania, in 2020 generated turnover worth around RON495.9 million (EUR102.9 million), up 10% from the previous year, in line with ZF calculations based on Finance Ministry data.

Gameloft Romania, a videogame developer and publisher established more than a decade ago, saw its revenue increase by about 3% last year, when people had to spend more time in their homes to avoid getting Covid-19. The revenue therefore stood at more than EUR22.7 million in 2020.

Bearings manufacturer Timken Romania, the local subsidiary of US’ Timken group, posted about RON492.6 million (EUR102.2 million) revenue in 2020, an increase of 11.5% year-on-year, ZF has calculated from Finance Ministry data.

Daniela Covacescu, with over 20 years of experience in the field of financial-banking and insurance, was recruited by Allianz-Ţiriac Asigurari for the position of Chief Operating Officer (COO).

Irina Ionescu, the former communications director at Coca-Cola HBC Romania, has taken over as general manager of GreenPoint Management, an organization that implements the extended producer responsibility (OIREP), and will be actively involved in the future development of companies in the same Group, per data from Green Point representatives.

The volume of foreign trade between Romania and Germany saw a significant rebound in the first half of 2021, growing by 20.5% from the same period in 2020, up to EUR16.4 billion, per estimates by officials of the Romanian-German Chamber of Commerce and Industry (AHK Romania), citing the latest data from the Federal Statistical Office (Destatis).

Romanian vacuum cleaner and home appliances manufacturer Electroarges (ELGS.RO) had a net profit of RON1.3 million in January-June 2021, from a loss of RON9.5 million in the same period in 2020, amid sales revenue of RON132.5 million, up 11.7% on the year, per calculations by Ziarul Financiar based on data from the company's half-year financial report.

Insolvent Romanian fiber optic cable producer Romcab Targu-Mures (MCAB.RO), in 1H/2021 hit net profit worth RON13.4 million, against RON14.4 million losses in 1H/2020, amid operating revenues of RON861.7 million, 120.1% higher than in the year-earlier period, in line with ZF calculations based on the company’s 1H report.

Romania's foreign exchange reserves grew by EUR2.6 billion to EUR41.6 billion on the month in August 2021, central bank data showed Wednesday.

Sinteza Oradea (STZ.RO), one of the largest companies in Bihor County, ended the first half of 2021 with consolidated net profit of RON1.08 million, from a net loss of RON2.8 million in the same period in 2020, which is the best result of the last five years, per data from the company’s half-year financial result.

Romanian apparel manufacturer Braiconf Braila (BRCR.RO) ended the first half of 2021 with a net loss of RON483,886, from a net profit of RON1.67 million in the year-earlier period, and a turnover of RON9 million, down 54.6% on the year, per calculations by Ziarul Financiar based on data from the company’s first-half financial report.

Arctic Stream (AST.RO), a Romanian-held company, an integrator of IT infrastructure and security in Romania, in the first half of this year posted turnover of around RON12 million from the resale of telecom technologies, security solutions and from IT consulting services.

Pharmacy network Ropharma (RPH.RO), Romania’s fifth largest pharmacy network, held by entrepreneur Mihai Miron, ended the first six months of 2021 with net profit worth RON1.45 million, 4.65% lower on the year, amid total operating revenues of RON223.7 million, down 5.4% on the year, according with ZF calculations based on the company’s first-half financial report.

DB Global Technology, Deutsche Bank's tech center in Bucharest, has set up an Information Security Department; the team in Romania has 40 experts who will be involved in projects in the fields of access and identity management, the fight against cyberthreats, cybersecurity architecture and security in Cloud technologies.

E.ON Energie Romania has concluded partnerships in Romania, since 2018 to date, for the construction and turnkey of over 200 photovoltaic power plants for companies, with the total value of projects exceeding EUR40 million.

Sigtree Technologies, a PropTech start-up targeting real estate developers, plans to attract EUR500,000 financing, of which EUR250,000 via SeedBlink, a local crowdfunding platform for Romanian IT start-ups.

Innovation, technology and artificial intelligence company Qualitance had a turnover of RON29.8 million in the first six months of 2021, up 41% on the year, and a net profit of RON100,000, half the level reported in the same period in 2020.

Romanian brick manufacturer Cemacon Cluj Napoca (CEON.RO) said in its financial report released Wednesday that it ended the first half of 2021 with a turnover of RON83.9 million, up 46% on the year, and a net profit of RON21.5 million, double against the level reported in the first half of 2020.