Romania Feed

Kromberg & Schubert Romania NA, a manufacturer of wiring for the automotive industry and electrical systems and the local subsidiary of Germany’s Kromberg & Schubert Group, posted RON176.2 million (EUR35.7 million) revenue in 2022, up 24.6% on the previous year’s RON141.4 million (EUR28.7 million), according to ZF calculations based on Finance Ministry data.

Israeli real estate developer AFI Europe will be opening on Nov 1, 2023 its first retail park in Romania, located in the center of the western city of Arad.

SIF Muntenia, managed by Muntenia Invest, on October 16 reduced its ownership stake in BRK Financial Group (BRK.RO), the only stockbroker listed on the Bucharest Stock Exchange, to 2.49% from 18.33%, BRK Financial Group has informed investors in a stock market report.

Meta Estate Trust (MET.RO), a holding company operating in the real estate field, informed the shareholders and the market in a stock market report on October 17 that it had completed the purchase of five apartments and three parking spaces in the Parcului 20 by Cordia residential complex.

Online retailer eMAG is launching a new online shop-in-shop, which is dedicated to nutrition and groups more than 31,000 products from the own offer and that of sellers present on the online commerce platform Marketplace.

Romania’s government will revise the 2023 economic forecast downwards but stick with an over 2% growth, more optimistic than that of international institutions like the World Bank or the International Monetary Fund, sources from institutions involved in drafting the forecasts said.

Despite many challenges faced by the retail market the industry shows a great evolution, as per the Turnover Retail 2023 market study powered by CBRE, the global and national leader in commercial real estate services and investments.

Real estate developer STC Partners has completed structural works for phase 1 of housing project Quartier Azuga, located in Doamna Ghica area of Bucharest, and expects apartments to be delivered in the third quarter of 2024.

Yildiz Entegre Romania, part of the Turkish group of the same name that operated the MDF plant of Oarja, Arges county, ended 2022 with turnover worth RON723.1 million (EUR146.6 million), up 23.5% from 2021, in line with ZF calculations based on Finance Ministry data.

Adidas Romania, part of German group Adidas, has opened a 542-sqm outlet in the outer area of Promenada Craiova mall, thus reaching a seven-unit network locally.

Romanians spent EUR2.5 billion on foreign trips this summer, up 19% from last summer, in line with ZF calculations based on NBR data. The sum is double the one registered in the summer of 2019.

Hello Holidays’s 2023 results mark a 200% increase from 2019, the year before the Covid-19 pandemic, which pummeled tourism.

Real estate developer One United Properties (ONE.RO) has informed the capital market that One Proiect 16, a subsidiary fully owned by One United Properties, concluded a sale and purchase pre-agreement for the acquisition of several plots of land located in capital city Bucharest, for a total price of EUR17 million, the developer said in a stock market report on Monday (October 16).

Romania's national grid company Transelectrica (TEL.RO) announced in a stock market on Oct 16 the signing of a memorandum of understanding (MoU) to perform a feasibility study for the construction of a high-voltage direct current (HVDC) transmission line and conversion stations on the territory of Romania.

Romania's Finance Ministry raised RON999 million from banks on Monday (October 16) selling treasury bills maturing in 2024, at an annual average yield of 6.13%.

Germany’s Nordex, world leading wind turbine manufacturer, got its first order for Romania in years at the end of last month. The wind energy market boomed between 2009 and 2014, but then completely froze. Things are changing this year.

The factoring market exceeded the EUR4 billion mark at the end of the first half of 2023, up almost 10% versus the year-earlier period, with domestic factoring operations nearing EUR3.5 billion, up 17% on the year, as per the half-year market survey conducted by the Romanian Factoring Association (ARF).

Electrical and electrotechnical component manufacturer Weidmüller Interface Romania, the local subsidiary of Germany’s Weidmüller Group, posted RON359.5 million (about EUR73 million) revenue in 2022, up 13.5% from the previous year’s RON316.8 million (EUR64.4 million), according to ZF calculations based on Finance Ministry data.

Romania's stock of modern industrial space reached 6.91 million square meters in the first half of 2023, after the delivery of 223,000 square meters since the beginning of the year, data from real estate consultancy CBRE show.

Evergent Investments (EVER.RO) announced in a stock market report on October 16 the initiation of the third stage of the share buyback program no. 8 in accordance with the Extraordinary General Meeting of Shareholders Resolution no. 2 of April 27, 2023 and in compliance with the Board of Directors Decision no. 1 of October 16, 2023.