Romania Feed

Romania’s central bank has approved the appointment of Theodor Stanescu to the position of general manager of Crédit Agricole Romania, which was acquired by Vista Bank, controlled by Greece’s Vardinogiannis Group.

MMM Autoparts, which produces tubes for the automotive industry, reported a turnover of RON149.2 million (EUR31 million) for 2020, down 17% on the year, per calculations by Ziarul Financiar based on finance ministry data.

Agroserv Mariuta, the company behind Laptaria cu Caimac brand, reported a turnover of RON25.6 million for the first half of 2021, up 25% on the year, and a net profit of RON598,822, up 53% from the same period in 2020, per the company’s financial report.

BestJobs Recrutare SA, the company that manages job recruitment platform BestJobs, ended the first half of 2021 with a turnover of RON14.5 million, up 41.2% on the year, and a net profit of 329%, up to RON3.9 million, per the company’s half-year financial report.

Bento, Intellectually Curious, a Romanian entrepreneurial company specialized in developing and implementing software solutions and providing IT and Cloud infrastructure services, reported revenue of RON11.9 million for the first half of 2021, up 88% on the year, given the company’s intense activity in terms of both recurring contracts and new projects, which contributed 72% to its revenue.

Allianz-Tiriac in the first half of 2021 underwrote premiums worth over RON768 million, up 12% against the similar period of last year and around 10% higher than in 1H/2019.

Romania’s Rodbun, owned by Alexandru Iancu and Daniel Muntean, will deliver grain seeds to Africa’s Democratic Republic of Congo and expects its operations to top EUR5 million in the first two years.

Lithuanian-held Apex Alliance group, which owns five hotels in Romania, forecasts an occupancy rate of at least 60% by yearend for Marmorosch hotel of Bucharest’s old town, as the best leisure/business mix is registered by the units the group controls in this area.

Manole Gheorghe and Vasile Domente, one of the most influential businesspeople of Buzau, owners of Eximprod group, are strengthening their statute of major wind project developers via two new wind farms.

Grand Plaza Hotel company, which controls Bucharest’s Sheraton hotel, in 2020 saw turnover slump by 80% to RON 12 million, from RON61 million in 2019, in line with Finance Ministry data.

TMD Friction Romania, owner of Textar brake pads brand, for 2020 reported a turnover worth RON227.1 million (EUR47.1 million), up 2.5% from the previous year, according to Finance Ministry data.

Sales of non-alcoholic or low-alcohol beer rose by 5.1% last year, to RON236 million, according with ZF calculations based on Euromonitor data. The growth pace slowed down significantly in 2020, a pandemic year, but the segment was however the only one of the overall beer market to go up during the pandemic.

Pentalog Romania, a French-owned provider of software development and consultancy services, present in Romania for over two decades, in 2020 went beyond the EUR36 million (RON178.1 million) threshold in terms of turnover, posting over 5% growth against the previous year.

Drywall products maker Etex Building Performance (Siniat Romania), part of the Etex Group, posted RON145 milion revenue in the first half, an increase of almost 10% on the year-ago period, as a result of the strategy to expand in retail and residential segments with products and solutions for new projects and renovations.

Romania’s Finance Ministry has reopened a bond issue due in 2028 and raised RON706 million from banks on Monday, RON406 million more that it set out to, at a yearly yield of 3.65%.

More than one million firms (1,056,574) have been deregistered in Romania over the past 30 years, with most of them vanishing from the market in 2002, 2006 and 20119, reveals an analysis by Termene.ro platform.

Agroland Business Systems (AAB.RO), which operates a chain of farm and garden supplies stores, ended the first half with RON128 million revenue, an increase of 5% on the year-ago period, as well as RON6.5 million net profit, 22% lower than the RON8.4 million in the corresponding period of 2020.

Austrian giant ALPLA, with annual turnover of EUR3.7 billion and 178 plants in 45 states worldwide, is to build a recycling plant in Targu Mures in the wake of EUR7.5 million investments.

Romanian state-owned lender CEC Bank is investing further in technology and digitalization and announces the launch of current account packages that can be accessed entirely online, with qualified electronic signature, by SMEs and PFAs.

The shares of real estate developer One United Properties (ONE.RO) became part of the BET index of the Bucharest Stock Exchange on Monday. The BET index tracks the performance of the most liquid shares on the Bucharest Stock Exchange and includes 19 companies.