Romania Feed

Investments on the Romanian real estate market grew 32% to over EUR805 million in 2020, with the largest land transactions exceeding EUR220 million. The office space segment expects over 230,000 new square meters in 2021, the industrial sector saw a 60% surge in leases and the residential sector saw a 20% rise in luxury home prices, per the annual report of Crosspoint Real Estate.

Toy wholesaler EduClass doubled sales to RON17 million year-on-year in 2020. The growth driver was the online sales, since the COVID-19 pandemic kept kids indoors.

Duvenbeck Logistik, one of the largest transport and logistics companies in Romania, ended 2020 with RON326.1 million (EUR67.6 million) revenue, 19% lower than in 2019, when it posted about RON406 million (EUR85.7 million) revenue, Finance Ministry data show.

Plastic product manufacturer Sterk Plast plans to continue investments in production over the coming years and hire at least 300 people for its plant in Medgidia, Constanta County, Suleyman Islambay, manager and majority owner of Sterk Plast, said.

Romanian real estate developer Impact Developer & Contractor (IMP.RO) said Monday it has signed two mortgage loan agreements amounting to EUR13.3 million with Libra Internet Bank, for real estate investments.

European retail banks will return to their pre-COVID performance within three to five years and profitability will remain under pressure for the next two years, global consultancy company Kearney said the 2021 edition of its “European Banking radar” report.

Romania's state-owned hydropower producer Hidroelectrica expects a net profit of RON1.1 billion this year, 23% lower than in 2020, and total revenues of RON4.23 billion, 8% higher compared with 2020.

The energy sector requires investments of EUR70 billion over the next decade, of which EUR13 billion in offshore gas projects in the Black Sea, Eric Stab, president and CEO of ENGIE Romania said Monday.

Romania's finance ministry on Monday raised 215 million lei (EUR43.6 million), a bit more than the planned RON200 million, selling a new issue of bonds maturing in April 2036 at an average yield of 4.14%, central bank data showed.

BestJobs Recrutare SA, the company that manages job recruitment platform BestJobs, is running a private placement corporate bond offer in the period May 6-20, 2021, seeking to raise EUR5 million from stock market investors.

OMV Petrom, the largest energy company in South-Eastern Europe, together with Renovatio, the operator of the largest network of recharging stations for electric vehicles in Romania, will install at least 40 fast and ultra-fast recharging stations in OMV and Petrom filling stations, in Romania, by the end of 2022.

Industrial abrasives manufacturer Carbochim Cluj Napoca (CBC.RO), indirectly held by businessman Iulian Dascalu, the owner of Iulius Group, ended the first three months of 2021 with a net result of RON289,023, up 25% on the year, and total revenue of RON8.03 million, down 1.7% on the year, per calculations by Ziarul Financiar based on the company’s financial report.

Organic fertilizer producer Norofert (NRF.RO) said in a stock market announcement Monday that it signed two contracts worth a total EUR4.8 million, which target the sale of organic rapeseed and the sale of organic sunflower seeds Lin Oleic (LO), respectively.

Bucur Obor (BUCU.RO), the company that owns the Bucur Obor shopping center in Bucharest, on Monday reported a net profit of RON4.35 million for the first quarter of 2021, down 12.7%, while its turnover dropped just 3.5%, to RON8.11 million.

Private medical services network Regina Maria, owned by investment fund Mid Europa Partners, on Monday said it invested EUR10 million in the clinical laboratory division, which currently consists of 38 units across Romania.

Daniel Ortiz, former Head of Business-to-Consumer (B2C) Iberia, Endesa X, was appointed at the beginning of May as general manager of Enel X Romania, the company announced Monday.

Sales of ceramic tiles under the Cesarom brand, produced at the Sanex factory in Cluj Napoca, grew 15% in 2020, by volume and by value, above the market value.

TeraPlast Bistrita (TRP.RO), construction materials producer owned by businessman Dorel Goia, has summoned its shareholders on June 25 to approve a proposal for the distribution of dividends in the total amount of RON226 million and the share capital increase by allocating one free share per each four shares owned, announced through the Board of Directors’ proposal on March 9, 2021.

Germany’s Sennheiser group will keep the headphone plant in Brasov, Romania, following the international sale of the consumer electronics unit to Switzerland’s Sonova group.

French retailer Auchan has reached a network of 50 MyAuchan stores in Petrom filling stations, in over 20 localities, after opening 25 MyAuchan units in January-April 2021.