Romania Feed

Car production in Romania reached 51,418 units in October 2020, 3.2% fewer than 53,119 units in October 2019, data from Romania’s carmakers association ACAROM showed Tuesday.

Romanian state-owned energy holding CE Oltenia, the second largest local electricity producer with 22% market share, was green-lit by the European Commission for its restructuring plan to gradually reduce the coal-based power generation.

The European Bank for Reconstruction and Development (EBRD) has announced a new loan, worth EUR10 million, for Romania’s leading distributor of agricultural technologies Agricover, to meet growing working capital needs.

Real estate developer Impact Developer&Contractor (IMP.RO) on Tuesday reported a net profit of RON13 million for the first nine months of 2020, down 28% on the year.

Private equity fund Morphosis Capital Fund I announced Tuesday it was investing in Romanian dental clinic chain Dr. Leahu. Clinics owner Implant Expert DSO transfers a minority stake to Morphosis in exchange for a capital contribution.

The business services industry in Romania had 131,000 employees in 2020, the same as in 2019, and generated revenues of EUR4.5 billion, according to a survey by Romania Business Service Leaders Association (ABSL).

Patria Bank (PBK.RO), held by private equity fund Emerging Europe Accession Fund (EEAF), reported Tuesday a net profit of RON5.98 million for the first nine months of 2020, up 2% on the year.

This year has been a year of change, but home appliances manufacturer Miele saw growth again in Romania, says Loredana Butnaru, the executive who runs Miele’s local operations.

Rompetrol majority holder KMG International, which owns the Petromidia refinery, announced Tuesday it intends to sell a range of non-core assets in Romania.

Ursus Breweries, the beer market leader in Romania, has invested more than EUR10 million in a new craft brewery in Cluj-Napoca, named Barlog. The company also has a pub and a souvenir shop on the site.

Real estate developer Impact Developer&Contractor (IMP.RO) plans to sell corporate bonds worth EUR6 million, with the possibility of increasing the amount to EUR15 million, via private placement.

More than 7,300 work permits have been issued in January 1 – September 30, 2020 for foreign citizens seeking work in construction sector in Romania, the data supplied by the country’s General Inspectorate for Immigration, shows.

MedLife (M.RO), the leader of the private medical services market in Romania, has closed Monday's trading session (Nov 16, 2020) at a price of RON47.1 per share on the Bucharest Stock Exchange, a record high after an “explosion” of 19% in trading prices amid a possible share capital increase.

Romanian airline on Monday said it would resume international flights from the Cluj international airport starting March 1, 2020.

Romanian jewelry retailer Teilor, founded over 20 years ago by local entrepreneur Florin Enache, has appointed Willy Dicu to run and manage its operations.

The seven pension funds operating on the Romanian mandatory segment, known as Pillar II, had total assets of RON70.2 billion at the end of October 2020, up 13% since the beginning of 2020 and a record high since the inception of the mandatory private pension system back in 2008, data from Romania’s financial watchdog ASF showed Monday.

Romanian regional investment fund SIF Moldova (SIF2.RO) on Monday said it registered a net result of RON17.2 million in January-September 2020, lower than RON160.3 million reported in the same period in 2019.

Romanian investment fund Fondul Proprietatea (FP.RO) ended the first nine months of 2020 with a net loss of RON726 million, compared with a profit of RON1.9 billion in the year-earlier period, per the Fund’s financial report.

Romania’s electronic commerce market was strongly propelled in 2020 considering that many Romanians had to or preferred to shop online due to the pandemic, with the total value of online sales in Romania being expected to reach nearly EUR6 billion at the end of 2020, up over 40% versus 2019, per an iSense Solutions survey for the GPeC Summit– an annual event dedicated to the Romanian e-commerce industry.

Romania's finance ministry on Monday raised 342.5 million lei (EUR70.3 million), out of RON400 million planned, selling bonds maturing in October 2034 at an average yield of 3.65%, central bank data showed.