Romania Feed

Office rents in capital city Bucharest increased by up to 15.8% over the last 12 months (June 2023 vs. June 2022), with the prime headline rent in the CBD area (Piata Victoriei – Aviatorilor) reaching EUR22 per square meter, an increase which also translated to other submarkets, in line with data from real estate consulting firm Cushman & Wakefield Echinox.

Textile manufacturer Braiconf (BRCR.RO) announced RON820,128 net profit in the first half of 2023, up 8.5% compared with the year-ago period, while revenue stood at RON13.34 million, compared with RON13.38 million in the same period of 2022, ZF has calculated based on data from the first half report published on the Bucharest Stock Exchange.

Patria Bank (PBK.RO), a lender owned by private equity fund Emerging Europe Accession Fund (EEAF), ended the first half of 2023 with RON11.2 million net profit, up 10.9% from the same period in 2022, it said in its first half report.

Oil drilling company Foraj Sonde Videle (FOJE.RO) posted RON77.1 million revenue in the first half of 2023, up from RON46.7 million in the same period of 2022 and went from a loss of RON2 million to a net profit of RON8 million it said in its report to the Bucharest Stock Exchange on Thursday.

Construction materials manufacturer Cemacon (CEON.RO), a company controlled by Dedeman's Paval brothers, posted RON79 million revenue in the first half of 2023, down 36% compared with the same period last year, while net profit decreased 42% to RON28.7 million, it said in its first half report.

Romania’s three-month ROBOR index, the interbank interest rate used as a reference to calculate variable interests for loans in lei taken out before May 2019, continued to stagnate in the second half of August, staying put at 6.40% a year on Thursday (August 31) as well.

The Body Shop cosmetics brand, one of the oldest in Romania, returns with a store in AFI Cotroceni mall after the entire existing network was closed this summer.

IT and digital marketing services provider Zitec ended the first half of 2023 with a 20% higher turnover compared to the same period of 2022, up to EUR14.7 million, company representatives said in a statement.

Romania’s unemployment rate stood at 5.5% in July 2023, lower by 0.1 percentage points than 5.6% in June 2023, data from the country’s statistics institute INS shows on Thursday (August 31).

Turkey’s menswear brand AC&co is set to open a new logistic center in Bucharest, with a 1,000-sqm area, and is seeking to hire 90 persons, with 18 of them due to work in the 19 stores of Romania.

Polish retailer SMYK All For Kids is expanding its Romania network with a new store, in Alba Iulia, reaching a total number of 29 units locally.

Romania's Ministry of Energy and electricity distribution company E-Distributie have signed two non-refundable financing contracts through the Modernization Fund, totaling RON122 million (VAT included), for the modernization of the power distribution grids in two of the areas where the company operates.

Mecanica Fina (MECE.RO), a producer of measuring, verification, control and navigation instruments and devices, reported a net profit of RON1 million for the first half of 2023, from a loss of RON457,400 in the same period of 2022, as per calculations by Ziarul Financiar (ZF) daily based on data from the company's half-year financial report sent to the Bucharest Stock Exchange.

Industrial equipment manufacturer AAGES Targu-Mures (AAG.RO) ended the first half of 2023 with a net profit of RON2.8 million, down 22.6% on the year, and a turnover of RON14 million, down 11.9% on the year, amid dwindling revenue from the production sold, as per data from the company's half-year financial report sent to the Bucharest Stock Exchange.

Suceava-based brewer Bermas (BRM.RO) reported a net loss of RON460,160 for the first six months of 2023, compared to a loss of RON174,700 in the same period of 2022, and a turnover of RON15.5 million, up 8.4% on the year, as per calculations by Ziarul Financiar (ZF) daily based on data from the company's half-year financial report sent to the Bucharest Stock Exchange.

The SHC restaurant group, one of the main actors in the local hospitality industry, controlled by entrepreneur Radu Dumitrescu, is taking over the Vacamuu steakhouse in Floreasca. The actor thus consolidates its position in this business in Bucharest.

Cargus, one of the biggest players in the Romanian courier industry, ended the first half of 2023 with over 10% revenue growth compared to 2022 and expects a similar pace for the whole 2023.

City Grill Group, one of the strongest domestic players in the HoReCa industry, has announced in a press statement the completion of its most extensive investment process to date.

Autonom Services, the largest mobility network in Romania, held by brothers Marius and Dan Stefan, posted RON12.3 million net profit in January-June 2023, 31% below the same period last year.

New car registrations in Romania grew by 23.3% year-over-year to 87.275 units in January-July 2023, placing the country 14th in the European Union (EU), data from the European Automobile Manufacturers Association (ACEA) and the association of automotive manufacturers in Romania (ACAROM) showed on Wednesday (August 30).