Romania Feed

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%.

Romania's finance ministry on Thursday raised a planned 500 million lei (EUR102.7 million) selling a new issue of bonds maturing in June 2026 at an average yield of 3.01% and a cut-off yield of 3.05%, central bank data showed.

Romania’s logistics space market has seen record demand in 2020 and the volume transacted is expected to exceed the 700,000 square meter threshold, against the backdrop of accelerated growth of online commerce and the positioning of Bucharest as regional logistics hub for many international retailers, per data from real estate consulting firm Cushman & Wakefield Echinox.

Czech online home deco retailer Bonami expects sales of EUR3 million in Romania during the holiday season, of which around EUR0.5 million is expected from Black Friday sales.

Romanian's competition authority has authorized a deal allowing Rompetrol Downstream to take over operation rights on nine filling stations belonging to Comision Trade group.

The Bucharest Stock Exchange (BVB) Group, which operates the Romanian capital market, reported a consolidated net profit of RON7.9 million in January-September 2020, up 18% on the year, and consolidated operating revenue of RON31.6 million, up 20% on the year, growth influenced by all business segments of the Group.

Romania's central bank on Thursday decided to keep its benchmark interest rate unchanged at 1.5% a year, but lowered minimum reserve requirements on foreign currency liabilities to 5% from 6%.

Telekom Romania Group reported consolidated revenue of EUR244.1 million in the third quarter of 2020, stable compared with the same period in 2019, and its mobile services client base grew 9.8%.