Romania Feed

CTP, the largest developer and manager of Class A logistics and industrial space in Romania, with a portfolio of approximately 1,850,000 square meters, has acquired an additional 153,000 sqm of logistics and industrial space, adding a new strategic location to its portfolio, in Brasov, and expanding its presence in Timisoara and southern Bucharest, being present in 13 cities and towns at present.

Croatian distribution group Orbico, controlled by Croatian investor Branko Roglic, has acquired sole control over Interbrands Marketing & Distribution, one of the largest distribution companies on the Romanian market.

Hellenic Telecommunications Organization SA (OTE) announced on Thursday that the sale of its 54% stake in Telekom Romania Communications SA (TKR) to Orange Romania has been successfully completed, and the final equity consideration reached EUR295.6 million.

Canned foods manufacturer Prefera Foods reported a loss of RON3.2 million for the first half of 2021, compared to a net profit of RON2.7 million in the same period in 2020, and a turnover of RON18.8 million, down 27% versus the first half of 2020.

Online furniture and home decor retailer Vivre Deco reported a loss of RON17 million in the first half of 2021, compared to a net profit of RON705,000 in the same period in 2021, but posted 19% higher revenue, of RON133 million, the company said its financial report Thursday.

Romanian state-owned natural gas producer Romgaz (SNG.RO) said in a stock market report Thursday that it initiated a non-binding process in order to obtain offers for financing in the amount of RON1.6 billion or the equivalent in euros, on the bank market, with a view to acquiring US giant ExxonMobil's 50% stake in the Neptun Deep gas exploration and drilling project in the Black Sea.

Connections Consult (CC.RO), a company founded in 2005 and specialized in providing software and IT services, has signed a contract worth RON5.8 million, as a subcontractor of a main bidder, with an end client which represents a public institution in Romania.

Romanian authorities issued 4,873 residential building permits in August 2021, 0.4% fewer than in July 2021 and 12.5% more than in August 2020, data from the country’s statistics board INS showed Thursday.

Money transfer fintech TransferGo, on Thursday said it has secured $50 million in a Series C funding round led by Elbrus Capital Fund III and Black River Ventures.

Romania attracted foreign direct investments (FDI) totaling EUR3 billion in 2020, after enterprises’ equity stood at EUR3.9 billion (equity worth EUR983 million plus reinvested earnings worth EUR3.016 billion), but the debt/claims ratio was negative, generating -EUR994 million debt transactions with FDI and non-resident fellow companies (debt less claims), central bank data showed Thursday.

Romania's seasonally adjusted unemployment rate grew by 0.1 percentage points to 5.2% on the month in July 2021, data from the country's statistics board showed Wednesday.

Romanian consumers took out almost RON2.63 billion new consumer loans in August 2021, the second highest monthly volume in the last 14 years and 49.4% higher than in August 2020.

Dental clinic chain Dr. Leahu in the first six months of this year posted revenues worth RON44.4 million, double the level of the year-earlier period, and net profit of RON4.8 million, compared with RON1.8 million in 1H/2020.

Romania's three-month ROBOR index, the interbank interest rate used as a reference to calculate variable interests for loans in lei, continued its upward trend and grew to 1.77% a year on Thursday (Sept 30), from 1.74% a year on Wednesday (Sept 29).

Integrated mobility service provider Autonom Services, held by brothers Marius and Dan Stefan, ended the first half of 2021 with consolidated revenue of RON178.1 million, up 21% on the year, and a net profit of RON12.5 million, up 201.6% compared to the first half of 2020.

Bucharest and Ilfov are home to over 70% of the total number of Mega Image stores in Romania, with Bucharest leading. Meanwhile, Cluj has become the third most important county on the company’s map, with 54 proximity stores and supermarkets.

Hungary’s roof tiles producer Terran opened a solar roof tile factory in Hungary wherefrom it will bring products to Romania as well, starting 2022.

The Romanian subsidiary of US giant Microsoft, a major global provider of IT equipment, applications and services reached over 1,000 employees and turnover worth RON467.4 million in 2020 (accounting for just half of the company’s fiscal year), up 9% year-on-year, and aims to continue tech and digitalization projects and initiatives.

Morphosis Capital, a private equity fund with EUR50 million capital subscribed in Romanian SMEs, has taken over 51% in EMI, a player on the industrial access system market.

The National Union of Insolvency Practitioners in Romania (UNPIR) has elected Niculae Balan for a new term as president, for a four-year period.