Romania Feed

Austria’s Vienna Insurance Group (VIG), which owns insurers Omanisig, Asirom and BCR Asigurari de Viata in Romania, said Thursday it recorded gross underwritings of EUR493,8 million in Romania in 2020, up 5.5% on the year, and a profit of EUR8.4 million, versus a loss of EUR109 million in 2019.

Construction paint maker Policolor reported a profit of EUR2.4 million in 2020, more than double the EUR1 million level reported in 2019, despite the coronavirus pandemic, per the company’s latest financial report for 2020.

The beer industry, put at more than EUR1 billion a year and a consumption of 85 liters per capita a year, was less hurt in Romania than in other countries in 2020 because the decline in on-premise consumption was offset by the return of more than 1.5 million Romanians to their home country.

Antibiotice Iasi (ATB.RO), the largest Romanian-held pharmaceutical producer, has budgeted RON366.5 million revenue for 2021, an increase of 7.5% on 2020, as shown in its spending and revenue budget.

Amazon Development Center, part of US-held Amazon, the largest online retailer in the world, with offices in Bucharest, Iasi and Timisoara, ended 2020 with more than RON443 million (some EUR90 million) revenue, 40% higher than in 2019, Finance Ministry data show.

Romanian state-owned Antibiotice Iasi (ATB.RO), the largest pharmaceutical producer in Romania, said in a stock market report on Wednesday that regional investment fund SIF Oltenia (SIF5.RO) reached the 23.07% threshold of Antibiotice Iasi’s share capital following a transaction held on April 12, 2021.

Forte Partners, one of Romania’s most active real estate developers, held by Jabra and Geo Margescu brothers, is launching on the market a digital solution for the management of office building resources, considering that a growing number of companies decide to implement the hybrid working model on the long term.

For the first time since French Renault Group acquired Dacia brand, under the leadership of Luca de Meo, the Dacia brand will have its own Board of Directors, alongside Lada, considering that the synergies between the two brands will grow in coming years.

ENGIE Romania, the largest natural gas distributor in Romania, ended 2020 with a turnover of EUR1.54 billion, up 7% on the year, per data from the annual financial report of the utilities group.

Romania’s Competition Council is looking into an operation whereby supermarket and convenience store chain Profi Rom Food SRL is acquiring ten convenience stores from Pronto Mobile SRL.

The Romanian durable goods market grew 12.5% in 2020 and the beginning of 2021 brought an increase of 25.9% for January-February, compared with the first two months of 2020, per a GfK survey.

Dragos Petrescu, the founder of City Grill restaurant group, has taken over the management of the Romanian Business Leaders (RBL) organization, which brings together over 500 Romanian entrepreneurs, managers and professionals in various fields of activity.

Romania manufactured 117,789 vehicles in the first three months of 2021, data from the country's carmakers association ACAROM showed Wednesday.

Car parts maker Altur Slatina (ALT.RO) wants to carry out a bond issue worth maximum RON10 million and to take a loan of RON3.4 million from one of the company’s shareholders, Adrian Andrici, to pay out overdue taxes to the state budget.

Integrated agricultural group Rodbun, whose operations include farm input wholesale and grain trade, has contracted a financing worth RON84.5 million through a syndicated loan.

Dairy company Artesana, owned by Alina and Daniel Donici, has started the construction of a new factory that will triple its production starting April 2022, within an investment of over EUR5 million, backed by private equity firm ROCA Investments, through bank financing and via a non-reimbursable grant from the state worth nearly EUR2.3 million.

TeraPlast Group, the biggest Romanian-held building materials producer, received the approval of Romania’s Competition Council on April 13, 2021 for acquiring 70% of the shares of flexible packaging producer Somplast.

AAylex Group, one of the leading actors in the poultry industry in Romania, set out to attain growth of 20% in 2021, following the addition of new products and development of sales.

Ford Puma is the model with the most new car registrations in Romania in the first three months of the year, data from Romania’s motor vehicle department DRPCIV show.

Germany’s automotive wiring and electronic systems manufacturer Kromberg & Schubert has sold its plant in Timisoara to the Continental Group, local automotive industry sources say.