Romania Feed

Individual investors bought RON500 million worth of Fidelis government bonds for the general population in the first week of the offer running until November 27, brokers' data showed.

Romanian state-owned power grid operator Transelectrica (TEL.RO) on Friday reported a net profit of RON152 million for the first nine months of 2020, double compared with the same period last year.

Romania's current account balance posted a deficit of EUR7.737 billion in January-September, compared with a deficit of EUR7.942 billion in the same period in 2019, central bank data showed Friday.

Romania's natural gas transmission company Transgaz (TGN.RO) ended the first nine months of 2020 with a net profit of RON224.7 million, down 9% on the year, per its quarterly report released Friday.

Romanian state-owned energy utility group Electrica (EL.RO) on Friday reported a net profit of RON396 million in the first nine months of 2020, up 146% from the year-earlier period.

Romania's central bank lowered its inflation forecast to 2.1% for the end of 2020 from a previous projection of 2.7%, while keeping the 2021 projection at 2.5%, according to the November Inflation Report released Friday.

Analysts expect Romania's economy recovering slower and more gradually after Friday's flash GDP data which showed a 6% annual contraction in the third quarter, worse than the -4.4% market expectation.

Romania’s Competition Council on Friday said it approved a transaction whereby regional investment fund SIF Banat-Crisana (SIF1.RO) had acquired Doosan IMGB SA.

Alro Group (ALR.RO), one of Europe’s largest vertically integrated aluminium producers, reported a turnover of RON1.9 billion in January-September 2020, down 10% on the year, and a net profit of RON273 million, compared with a loss of RON23 million in the same period of 2019.

MedLife (M.RO), the leader of the private medical services market in Romania, ended the first nine months of 2020 with a turnover of RON770 million, up 8.4% on the year, and a net profit of RON44 million, from RON19 million in the same period in 2019; the increase represents the translation of the increase of the operating profit into the net result.

Romania's state-owned natural gas producer Romgaz Medias (SNG.RO) ended the first nine months of 2020 with a turnover of RON2.9 billion, down 23% on the year, and a net profit of RON941.9 million, down 20% on the year, per the company’s financial report released Friday.

German retailer dm drogerie markt has seen sales up 5.5% in Romania in the financial 2020 that ended on September 30. The sales in October 2019 – September 2020 reached 525 million lei.

Romanian lender Banca Transilvania (BT.RO) ended the first nine months of 2020 with a net profit of RON901 million, down 35% on the year, and operating income of RON2.8 billion, down 1.3% on the year, per its financial report released Friday.

Schaeffler Romania, the local subsidiary of Germany’s Schaeffler group, expects 10% decline in revenue in the second half compared with the year-ago period, due to the decline in orders from its customers. The company saw growth of 8% in revenue in the first half compared with the same time last year.

Romania's gross domestic product (GDP) took an annual plunge of 6% in the third quarter of 2020, compared with the same period in 2019, a flash estimate from the country’s statistics board showed Friday.

Kärcher Romania, the company handling sales for the German vacuum cleaner and cleaning equipment manufacturer to local customers, will end the year with an over EUR22 million revenue, higher than last year, despite the COVID-19 pandemic.

Jidvei, one of the largest winemakers in Romania, has bought a small milk processing plant from a producer in Alba County. The plant can process 5,000 liters of milk per day and is currently undergoing retooling to be able to make products to sell through retail.

Romanian state-run oil transporter Conpet Ploiesti (COTE.RO) on Thursday reported a net profit of RON48.95 million for the first nine months of 2002, down 2.3% on the year.

Romania's central bank expects inflation to drop further in the short term before rising again and remaining close to 2.5%, it said in a detailed statement following Thursday's monetary policy board meeting.

Industrial abrasives manufacturer Carbochim Cluj Napoca (CBC.RO) announced Thursday in a market report its majority shareholder Carbo Europe raised its stake in the company from 68.37% to 75.79%.