Romania Feed

Romania's state-owned hydropower producer Hidroelectrica expects a net profit of RON1.1 billion this year, 23% lower than in 2020, and total revenues of RON4.23 billion, 8% higher compared with 2020.

The energy sector requires investments of EUR70 billion over the next decade, of which EUR13 billion in offshore gas projects in the Black Sea, Eric Stab, president and CEO of ENGIE Romania said Monday.

Romania's finance ministry on Monday raised 215 million lei (EUR43.6 million), a bit more than the planned RON200 million, selling a new issue of bonds maturing in April 2036 at an average yield of 4.14%, central bank data showed.

BestJobs Recrutare SA, the company that manages job recruitment platform BestJobs, is running a private placement corporate bond offer in the period May 6-20, 2021, seeking to raise EUR5 million from stock market investors.

OMV Petrom, the largest energy company in South-Eastern Europe, together with Renovatio, the operator of the largest network of recharging stations for electric vehicles in Romania, will install at least 40 fast and ultra-fast recharging stations in OMV and Petrom filling stations, in Romania, by the end of 2022.

Industrial abrasives manufacturer Carbochim Cluj Napoca (CBC.RO), indirectly held by businessman Iulian Dascalu, the owner of Iulius Group, ended the first three months of 2021 with a net result of RON289,023, up 25% on the year, and total revenue of RON8.03 million, down 1.7% on the year, per calculations by Ziarul Financiar based on the company’s financial report.

Organic fertilizer producer Norofert (NRF.RO) said in a stock market announcement Monday that it signed two contracts worth a total EUR4.8 million, which target the sale of organic rapeseed and the sale of organic sunflower seeds Lin Oleic (LO), respectively.

Bucur Obor (BUCU.RO), the company that owns the Bucur Obor shopping center in Bucharest, on Monday reported a net profit of RON4.35 million for the first quarter of 2021, down 12.7%, while its turnover dropped just 3.5%, to RON8.11 million.

Private medical services network Regina Maria, owned by investment fund Mid Europa Partners, on Monday said it invested EUR10 million in the clinical laboratory division, which currently consists of 38 units across Romania.

Daniel Ortiz, former Head of Business-to-Consumer (B2C) Iberia, Endesa X, was appointed at the beginning of May as general manager of Enel X Romania, the company announced Monday.

Sales of ceramic tiles under the Cesarom brand, produced at the Sanex factory in Cluj Napoca, grew 15% in 2020, by volume and by value, above the market value.

TeraPlast Bistrita (TRP.RO), construction materials producer owned by businessman Dorel Goia, has summoned its shareholders on June 25 to approve a proposal for the distribution of dividends in the total amount of RON226 million and the share capital increase by allocating one free share per each four shares owned, announced through the Board of Directors’ proposal on March 9, 2021.

Germany’s Sennheiser group will keep the headphone plant in Brasov, Romania, following the international sale of the consumer electronics unit to Switzerland’s Sonova group.

French retailer Auchan has reached a network of 50 MyAuchan stores in Petrom filling stations, in over 20 localities, after opening 25 MyAuchan units in January-April 2021.

German-held discount retailer Lidl has climbed to the fifth place among importers in Romania in 2020, one place higher than in 2019. This is its highest position in the rankings since arriving on this market, after having spent 2017-2019 on the sixth place, National Statistics Institute data show.

Romania's trade balance posted a deficit of EUR5.3 billion in January-March 2021, higher by EUR863 million compared with the first three months of 2020, data from the country's statistics board showed Monday.

The cosmetics market went down 13% in Romania during the pandemic and net sales dropped to less than RON4 billion. The pandemic interrupted a good time for perfume, makeup and care product sales, which are lower per capita than in other countries anyway, so there is still room for development.

Romanian state-owned natural gas producer Romgaz (SNG.RO) said in a stock market report Friday that its shareholders approved on May 7, 2021 the company’s individual and consolidated budget of revenue and expenditure for 2021.

The Board of Directors of Romanian state-owned energy utility group Electrica (EL.RO) has extended the mandate of Cristian Bosoanca as Chairman of the Board starting May 6 until December 31, 2021.

OTP Bank Romania, the local subsidiary of the largest banking group in Hungary, reported a consolidated profit after tax of RON7 million in the first quarter of 2021, versus a loss of RON11 million in the same period of 2020, as a result of increasing risk costs by RON48 million amid the COVID-19 pandemic.