Romania Feed

The vast majority of companies (91 percent) have experienced at least one event, other than a pandemic, that has disrupted their business in the last two years, according to the PwC Global Crisis and Resilience Survey 2023.

Electronics retailer Flanco has budgeted investments of RON20 million for 2023, a record high, and the money is envisaged to target mostly new store, but also the existing units.

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, ended the April 3-7 week slightly lower, decreasing to 6.82% a year on Friday (April 7) from 6.83% on Thursday (April 6).

Romania's trade balance posted a deficit of EUR4.38 billion in January-February 2023, lower by EUR232 million (-5%) compared with Jan-Feb 2022, data from the country's statistics board INS showed on Monday (April 10).

There were 9.1 million farms across the European Union (EU) in 2020, which translates into an estimated 5.3 million fewer farms than in 2005 (the equivalent of a nearly 37% decline), as per the latest report by Eurostat, the EU's statistical office.

Seven out of ten participants to Deloitte Retail industry outlook 2023 identify labor issues as the main challenge of the year, and almost all of them expect inflation to pressure their profit margins, and the changing consumer to impact their medium-term activity.

Online retailer eMAG is in talks with Globalworth over leasing 10,000 square meters of office space in the Globalworth Square near Barbu Vacarescu in Bucharest, according to real estate market information.

Agroserv Mariuta (MLK.RO) a local agribusiness company and the owner of the Laptaria cu Caimac brand, is aiming for RON2.1 million net profit in 2023, its spending and revenue budget shows.

Shipyard Santierul Naval Severnav (SEVE.RO) in Drobeta-Turnu Severin has notified shareholders of having signed a contract with CNFR Navrom Galati, a river transport company of the Transport Trade Services (TTS.RO), on April 4.

Holcim Romania is expanding its concrete unit with a new acquisition whereby it took over the assets, employees and equipment of concrete producer Betonexpres of Floresti, Cluj county.

iStyle, the largest Apple Premium Reseller store network of CEE, part of Midis group, in 2022 reached EUR111.5 million turnover in Romania, up 39% from 2021.

Kinderpedia, a digital communication and management solution for schools and kindergartens, plans to triple its revenues this year amid the global expansion of its client base.

More than 100,000 foreigners work in Romania, with most of them coming from Bangladesh, Nepal and Pakistan.

Energy drinks producer HELL Energy has inaugurated the new warehouse and head office in the town of Ungheni (Mures County), following an investment of EUR18 million started in 2022.

Beer sales in Romania decreased by 5% by volume in 2022, down to 15.8 million hectoliters (hl), and the share held by the hospitality industry remained below the pre-pandemic level of around 15-20%, increasing in 2022 by only one percentage point up to 10% compared to 2021, as per data from the Romanian Brewers Association.

Vlad Stanislav has been appointed to the position of Managing Director of real estate consulting firm JLL in Romania.

Winemaker Purcari (WINE.RO), whose shares are part of the BET index, plans to pay investors a RON0.55 dividend per share and calls them to vote on the issue on May 26, 2023.

Real estate developer Globalworth, the largest office space investor in Central and Eastern Europe and the leader of the office space market in Romania, has signed a lease contract with RetuRO Sistem Garantie Returnare (RetuRo), a company established by beverage companies and associations of merchants for managing the deposit-return system (DRS).

Zentiva Group, held by private equity firm Advent International, has put Zsolt Baranyai in charge of the production operations in Romania, replacing Margareta Tanase, who retired after working for Zentiva plant in Bucharest for 37 years.

Retail sales volume in Romania, excluding vehicle and motorcycle sales, increased by 3.9% in unadjusted data in January-February 2023 compared to the same period of 2022 due to sales of food, non-food, beverages and tobacco seeing increases of 5.4% to 5.9%, but fuel sales in specialized stores dropped 2.7%, data from the country’s statistics institute INS showed Thursday (April 6).