Romania Feed

Significant investments are budgeted for 2021 on the cellulose and paper market, after 2020 brought companies in the field robust demand, at least for a period.

Despite the steepest crisis the hospitality industry is coping with, investors’ interest has not dwindled as they are betting on projects worth tens of million euros in this field.

Dialysis service provider Diaverum Romania, ended 2020 with RON338 million revenue, an about 10% increase on 2019, Finance Ministry data show.

The number of pharmacies in Romania went down slightly by 54 in 2020, but last year was the second year of decline, National Statistics Institute data show. The decrease in 2019 was about the same as in 2020.

Danish-held furniture and home décor products retailer JYSK continues expansion in Romania by opening new stores, in Timisoara and Rosiorii de Vede, Teleorman, for a total of 106 in the country.

Regional investment fund SIF Muntenia (SIF4.RO) on Wednesday announced on the Bucharest Stock Exchange that Romania’s Financial Supervisory Authority (ASF) had approved its share repurchase program, which should enable it to repurchase 2.63% of its shares.

The European Bank for Reconstruction and Development (EBRD) has become, starting August 25, 2021, a shareholder with a 25% interest in the share capital of gas transmission company Vestmoldtransgaz, the subsidiary of Romania's natural gas transmission company Transgaz in the Republic of Moldova, which owns and operates the Ungheni-Chisinau gas transmission pipeline.

Romanian real estate developer Impact Developer & Contractor (IMP.RO) said in a stock market report Wednesday that it signed a general contractor agreement with RCTI Company SRL for the construction of a residential complex in capital Bucharest.

Digi Communications said in a stock market report on Wednesday that the employees of RCS&RDS, the Romanian unit of Digi Group, will receive 39,000 stock options for the fulfilment of the performance criteria set out.

Romania was awarded the “exceptional” rating for its crops in 2021. Agriculture ministry data show that Romanian farmers obtained record wheat, barley and rapeseed crops this year and very good maize and sunflower crops are also expected this autumn.

Cluj-based importer and distributor of electronic products and accessories has invested EUR6.7 million in a new logistics center where it will also relocate its offices, at the beginning of autumn 2021.

Dentotal Group, one of the largest dental equipment wholesalers in Romania, backed by Central European private equity fund Abris Capital Partners, has signed an agreement to acquire Bulgaria’s dental equipment wholesaler Dentatechnica.

AAylex Group, owned by entrepreneur Bogdan Stanca, which produces and sells poultry meat under the Cocorico brand, started the process of merging all its companies in order to create a major player on the European market, under the name AAylex One, a company with a share capital of over EUR50 million and total assets of nearly EUR300 million.

Back-to-school spending is projected to rise by 16% this year compared to 2020, reaching USD 32.5 billion, and digital learning tools are replacing traditional school supplies, driving the sales for technology-based products for students up 37% YoY, according to Deloitte 2021 back-to- school survey. For buying school-related technology products, 49% of participants consider online stores as first option, and 41% are planning to visit discount retailers.

Insurance company Allianz-Ţiriac has signed a lease contract to relocate its head office to the Tiriac Tower office building located in Bucharest’s Victory Square, where it will occupy three floors and a total area of 4,640 square meters.

Jewelry retailer Teilor generated sales of RON88 million in the first six months of this year, 116% above turnover hit in the same period of 2020 and over 46% higher than in the first half of 2019.

Winemaker Purcari (WINE.RO) on Wednesday reported revenue of RON106.5 million for the first half of 2021, up 25% on the year, due to a 47% surge in sales in the second quarter of 2021, per the company’s financial report.

Azomures, Romania’s largest gas consumer, a business of around RON2 billion, says agriculture fertilizer prices have soared this year amid the unprecedented natural gas price hikes.

Uniqa Asigurari reported gross underwritten premiums worth EUR18.7 million, for the first half of this year, on the non-automotive insurance segment, up 3% from the same period of 2020, while Uniqa Asigurari de Viata registered a significant sales increase, of 56%, hitting underwritten premiums of EUR11.5 million in June 2021.

Vaslui-based meat processor Vanbet, controlled by entrepreneur Fanel Bogos, in 2020 reached turnover worth above RON233 million (EUR48.3 million), up 6% from 2019, when the company raked in around RON219.2 million (EUR46.2 million) in total turnover, according to ZF calculations based on Finance Ministry data.