Romania Feed

The ten companies managing Bucharest’s largest shopping centres, occupying a total area of above 740,000 square metres, ended 2020 with overall losses of RON214 million.

Rainwater and Roofing Systems Producer Raiko Transilvania (RKOT.RO) derived turnover worth RON4 million in the first half of this year, around 72% higher than the level reached in 1H/2020, it said in a report published on the BSE website.

Ardealul Carei, one of the largest vegetable oil producers controlled by local entrepreneurs, with turnover topping EUR50 million in 2020, is poised to finalise a EUR3.5 million investment project, with 40% European funding, next year.

The lower brick demand was offset by roofing demand in the first half of this year for Austrian brick manufacturer Wienerberger in Romania.

Bittnet (BNET.RO), a group of IT companies listed on the main market of the Bucharest Stock Exchange, on Friday reported a consolidated turnover of RON48 million in the first half of 2021, and a gross profit of RON2 million, up 57% from the first half of 2020.

Shareholders of Chemical producer Chimcomplex Borzesti (CHOB.RO), which owns the Oltchim and Borzesti platforms, have approved the contracting of a EUR60 million loan from state-run lender CEC Bank and a EUR30 million loan from Alpha Bank.

Romania ranks sixth among European Union Member States, with a 1.7% ratio of general government expenditure on defense to GDP in 2019, Eurostat, the statistical office of the European Union, said on Wednesday.

Dacia Sandero, produced in Romania, was the top-selling car in Europe in July 2021, per data from the Automotive News Europe, based on Jato Dynamics data. This is the first time when Dacia Sandero has placed first in Europe, in a month.

Law firm RTPR has assisted Rodbun Group, one of the leading agribusiness companies in Romania, in relation with a syndicated loan of RON278 million which will be used to cover working capital needs and support the group’s development plans.

The net assets of the 227 domestic and foreign open-end and closed-end investment funds operating in Romania fell 0.4% in July 2021, to RON50.2 billion (EUR10.2 billion), but grew by 12.9% since the beginning of 2021, the Association of Fund Administrators said Friday.

Antibiotice Iasi (ATB.RO), the largest Romanian-held drug maker, on Friday reported on the Bucharest Stock Exchange that regional investment fund SIF Oltenia (SIF5) bought 18 million of its shares, for RON0.59 per unit, on August 25, 2021 .

The Bucharest Stock Exchange on Friday announced that new bonds issued by MW Green Power Export, a producer of photovoltaic electricity, will start trading on the Multilateral Trading System (MTS) on Tuesday, August 31, under the ticker symbol MWGP24.

Greek-owned Alpha Bank Romania, one of the top ten lenders in Romania, reported a pre-tax profit of EUR10.6 million for the first half of 2021, higher than RON2.1 million in the same period in 2020, and the increase is due reduced risk costs.

Cegeka Romania, the local division of Belgian IT solutions provider Cegeka, changed its recruitment approach, in the context of the pandemic, and decided to search for IT experts in Romanian towns and cities other than those in which it already has offices, by opening co-working spaces in target localities for people to have a space for meetings and talks with partners.

International rating agency Moody's Investors Service (Moody's) has reconfirmed the Ba1 rating, with a positive outlook, awarded to Romania's national power grid operator Transelectrica (TEL.RO).

Dutch-based company I3CP said that on August 25 it subscribed to all newly issued shares for the share capital increase of Romanian insurer City Insurance, which was approved by the insurer’s shareholders in July 2021.

MedLife Group (M.RO), the leader of the private medical services market in Romania, ended the first half of 2021 with a consolidated turnover of RON677 million, up 44% from the same period in 2020, and a profit of RON71 million, per its half-year financial report.

The pandemic has not slowed down the constructions works Italy’s Astaldi group is carrying out in Romania, shows the latest financial report published by the company.

Romanian aircraft construction and repair firm Aerostar Bacau (ARS.RO) ended the first half of 2021 with a turnover of RON174 million, up 8% on the year, and a net profit of RON35 million, up 12% from the same period in 2020, per its financial report.

The number of housing units delivered annually in each county of Romania and the spectacular growth seen by some counties, such as Brasov (a 139% increase in 2020 against 2010), Sibiu (101% growth) or Timis (223% increase) are pointing both to the degree of housing, economic and social development, and to people’s housing appetite.