Romania Feed

Iulian Nedea, CEO and one of the three founder of Simtel Team (SMTL.RO), says the General Shareholder Assembly will be convened soon to approve a capital increase meant to fund development projects and expansion in cities such as Cluj or Timisara, but also in countries such as Moldova, Bulgaria or Ukraine.

Car parts maker Lear Corporation Romania, the domestic arm of US concern Lear Corporation, in 2020 derived turnover worth RON1.156 billion (EUR240 million), down 15% year-on-year.

Romania’s largest energy producers, Hidroelectrica and Nuclearelectrica, both state-owned, are heading toward record-high results, and their profits could be used for energy bill compensation.

The Board of Directors of chemical producer Chimcomplex on Thursday announced chief executive officer Tivadar Runtag would leave his position to fulfil other duties in the group run by Stefan Vuza.

Vista Bank, a lender held by Greece’s Vardinogiannis group, has completed the acquisition of 100% in Credit Agricole Romania, after securing all the necessary approvals from Romania’s central bank and Competition Council.

Bonas Import Export (BONA.RO), a Cluj-based company that owns the Bonas dairy brand, on Thursday said it ended the first half of 2021 with a net profit of RON41,210, over tenfold lower than the level reported in the year-earlier period, and a turnover of RON6.6 million, down 1.7% on the year.

Visual Fan S.A. (ALW.RO), which holds the Allview brand, on Thursday said it contracted the first major project together with Headlight Solutions, in the amount of RON10 million (EUR2 million), which will be implemented during the 2021 – 2022 period.

Meat2Eat, a gastronomic concept active since 2015, with a a steakhouse in Bucharest’s Domenii area and with burger shops, has opened the first steakhouse restaurant in a 400-square meter space on the ground floor of the One Tower office building in Bucharest’s Floreasca area.

Romania's finance ministry on Thursday raised 675 million lei (EUR136.4 million), higher by RON175 million than planned, selling bonds maturing in October 2030 at an average yield of 3.88%, central bank data showed.

Medicover, the third leading actor on the private healthcare market, has started working with construction management and consulting company Vitalis Consulting on the project to develop its new hospital in Bucharest.

FrieslandCampina Romania, the producer of Romanian dairy brand Napolact, announced that Adriana Panait took over the position of Human Resources Director, starting September 2021.

OTP Bank Romania, part of Hungary’s OTP Group, targets a 5% increase in market share until 2024, from 2.65% at end-2020, and the option of an acquisition still stands, Roxana Hidan, deputy CEO of OTP Bank Romania, Business Division, told Ziarul Financiar (ZF).

Local company ABN Systems International, the holder of the Tellur brand and an integrator and distributor of electronic equipment and telecom accessories, plans to list on the Bucharest Stock Exchange until the end of 2021, in order to fund the accelerated development on external markets and to consolidate its position on the local market, by accessing new business niches.

Romanian startup BookTes, which developed a ticketing system for the online organization, management and sale of all activities in the cultural-tourism sector, wants to attract EUR200,000 financing to cover the cultural and tourism experiences across all 41 Romanian counties, by the end of 2021, and to expand the functionalities of the platform.

Stakeholders of Euroins Romania, the second largest third party vehicle insurance (RCA) insurer domestically, part of Bulgaria’s Eurohold group, approved a RON120 million capital increase, as well as a strategy to recruit top and middle management specialists, according to the company’s representatives.

Romanian company Retargeting Biz, specialized in providing automation solutions for digital marketing processes for electronic commerce, has invested over EUR3 million in developing a new version of its all-in-one automated marketing platform.

New car registrations in Romania grew by 6.9% in January-August 2021, to 78,791 units, placing the country 14th in the European Union, data from the European Automobile Manufacturers Association (ACEA) and the association of automotive manufacturers in Romania (ACAROM) showed Thursday.

The volume of Romanian construction works decreased, as gross series, by 5.8%, in July 2021 compared to June 2021, and by 3.6% as adjusted series according to the number of working days and to seasonality, data from the country’s statistics board INS showed Thursday.

Norofert, the main listed Romanian producer of organic inputs, in the first half of this year generated turnover worth RON19.8 million, up 33%, and net profit of RON5 million, 17% higher than in the same period of 2020.

OK Medical, a network of Covid-19 sample collecting centres, in 2020 reached turnover of RON42.6 million, up from almost RON6 million in 2019, according to Finance Ministry data.