Romania Feed

Antibiotice Iasi (ATB.RO), the largest Romanian-held drug maker, on Friday reported on the Bucharest Stock Exchange that regional investment fund SIF Oltenia (SIF5) bought 18 million of its shares, for RON0.59 per unit, on August 25, 2021 .

The Bucharest Stock Exchange on Friday announced that new bonds issued by MW Green Power Export, a producer of photovoltaic electricity, will start trading on the Multilateral Trading System (MTS) on Tuesday, August 31, under the ticker symbol MWGP24.

Greek-owned Alpha Bank Romania, one of the top ten lenders in Romania, reported a pre-tax profit of EUR10.6 million for the first half of 2021, higher than RON2.1 million in the same period in 2020, and the increase is due reduced risk costs.

Cegeka Romania, the local division of Belgian IT solutions provider Cegeka, changed its recruitment approach, in the context of the pandemic, and decided to search for IT experts in Romanian towns and cities other than those in which it already has offices, by opening co-working spaces in target localities for people to have a space for meetings and talks with partners.

International rating agency Moody's Investors Service (Moody's) has reconfirmed the Ba1 rating, with a positive outlook, awarded to Romania's national power grid operator Transelectrica (TEL.RO).

Dutch-based company I3CP said that on August 25 it subscribed to all newly issued shares for the share capital increase of Romanian insurer City Insurance, which was approved by the insurer’s shareholders in July 2021.

MedLife Group (M.RO), the leader of the private medical services market in Romania, ended the first half of 2021 with a consolidated turnover of RON677 million, up 44% from the same period in 2020, and a profit of RON71 million, per its half-year financial report.

The pandemic has not slowed down the constructions works Italy’s Astaldi group is carrying out in Romania, shows the latest financial report published by the company.

Romanian aircraft construction and repair firm Aerostar Bacau (ARS.RO) ended the first half of 2021 with a turnover of RON174 million, up 8% on the year, and a net profit of RON35 million, up 12% from the same period in 2020, per its financial report.

The number of housing units delivered annually in each county of Romania and the spectacular growth seen by some counties, such as Brasov (a 139% increase in 2020 against 2010), Sibiu (101% growth) or Timis (223% increase) are pointing both to the degree of housing, economic and social development, and to people’s housing appetite.

Donalam stakeholder AFV Beltrame Group, a major European producer of steel bars and other special steels, has announced a EUR200 million investment in a reinforcing steel and wire rod production unit in Romania.

Online retailer Atu Tech, mainly specializing in security systems, has earmarked another EUR1 million this year to develop its own system range, known as SAFER, explained Sorin Felea, Atu Tech general manager and stakeholder.

Targoviste-based dairy product maker Lactate Natura, majority owned by regional investment fund SIF Oltenia, ended the first half of this year with net turnover of RON4.5 million, 43% lower than in the same period of last year, in line with calculations based on the half-year report the company filed with the BSE.

Gebrüder Weiss, one of the largest logistics and transport operators in Romania, plans to expand its logistics space in Bucharest and Sibiu by about 20% next year. The company currently has 65,000 square meters of logistics space with an average occupancy rate of 90%, a Gebrüder Weiss release says.

Romania's general consolidated budget posted a deficit of RON33.97 billion in January-July 2021, or 2.89% of the gross domestic product, lower than RON49.68 billion, or 4.71% of GDP, in the first seven months of 2020, when the economy was mostly shut down by the pandemic, per finance ministry data.

The Board of Directors of lender Patria Bank a(PBK.RO) approved in its meeting of August 26 the appointment of Luca Victor Rogojanu to the position of Deputy General Manager, Risk Division, member of the Executive Committee of Patria Bank, for a four-year mandate, starting September 1, 2021.

Romanian real estate developer Impact Developer & Contractor (IMP.RO) has overshot the RON1 billion stock market capitalization threshold after its shares have spiked 104.3% since the beginning of 2021, amid deals worth RON50 million, per stock market data.

Industrial equipment producer AAGES Targu-Mures (AAG.RO) ended the first half of 2021 with a net profit of RON3.2 million, up 412.7% (over fivefold higher) year-over year, and a turnover of RON20.1 million, up 43.4% from the first half of 2020, per calculations by Ziarul Financiar (ZF) based on stock market data.

Online furniture and home decor retailer Vivre Deco on Thursday informed the holders of Vivre bonds, traded under the symbols VIV25E and VIV26E that, on August 24, 2021, Monica Cadogan announced her resignation from the position of Chief Executive Officer of Vivre Deco.

Global Database, an aggregator of public and private company data founded by two Romanians in 2015, wants to get EUR1.4 million funding for development, marketing investment and to hire sales specialists for the US and UK.