Romania Feed

Daniel Dines, 49, CEO, co-founder and shareholder of UiPath, is the richest man in Romania, ranking at number 464 on the Forbes list with an estimated net worth of more than $6 billion.

Telecom operator Orange Romania on Thursday reported a turnover of EUR264 million for the first quarter of 2021, 2.5% higher compared with the same period last year.

The online fashion market in Romania will exceed the $1 billion threshold by the end of 2021, according to a report by PayU, the fintech and e-payments business of Prosus.

Sales of Romanian automaker Dacia grew 10.2% on the year in the first quarter of 2021, to 121,231 vehicles, its owner Groupe Renault said in its quarterly earnings report Thursday.

Paper packaging manufacturer Segezha Packaging posted growth of 20% in revenue to RON75.9 million in 2020, Finance Ministry data show. This is its highest growth in revenue in a decade.

Face mask and other medical products manufacturer Coramed ended 2020 with RON16.6 million revenue, an increase on the RON7.2 million of 2019, Finance Ministry data show.

CFA Romania analysts see the Romanian leu averaging 4.95 units to the euro over the next 6 months and 4.99 over the 12 month-horizon, from its current level of over 4.92 units to the euro.

The mergers and acquisitions market will be more active this year than in 2020. Whereas investors decided to put certain acquisitions on hold in the first half, interest returned at the end of the year and may be even higher this year.

Danish-held Premium Porc group, the second largest pork producer in Romania, has backed out of the deal to buy five farms from Danbred, a Romanian-Danish group, due to the African swine fever virus.

TeraPlast Group ended the first quarter of 2021 with a consolidated net profit of RON200.6 million, versus RON6.14 million in the same period in 2020, which also comprises RON189.4 million representing the proceeds from the sale of the Steel business.

The National Recovery And Resilience Plan means 14% of the gross domestic product for Romania and absorbing half of the money allotted through the resilience plan could boost investments in Romania to 6.5% of GDP, Daniel Daianu, head of the Fiscal Council, told the Coface Country Risk Conference 2021.

The loan-to-deposit ratio decreased to 66.7% in February 2021, touching an all-time low, from 67.2% in January, which is due to the adjustment on the foreign currency loan-deposit segment, to 57.4% in February from 58.6% in January, a new all-time low, per an analysis by Andrei Radulescu, macroeconomic analysis director with lender Banca Transilvania.

Shareholders of state-run Antibiotice Iasi (ATB.RO), the largest pharmaceutical producer in Romania, on Wednesday approved the distribution of dividends worth RON2.2 million from the 2020 profit, which translates into a gross dividend of RON0.00330361 per share.

Germany’s Kaufland group, the leader of the local retail by sales in 2019, continues its expansion plans for 2021 and is opening a store in Tarnaveni (Mures County) Thursday (April 22), reaching a network of 142 hypermarkets in Romania.

Irish cement manufacturer CRH is changing the name of its Romanian division, CRH Ciment Romania, to Romcim starting May 5, 2021.

Romanian independent electricity and natural gas supplier Restart Energy One on Wednesday launched its first corporate bond issue on the Bucharest Stock Exchange, under the ticker symbol REO26.

Capital city of Bucharest registered 14,974 jobless people (of whom 8,127 women) at the end of March 2021, taking the unemployment rate to 1.21%, lower by 0.82% compared with February 2021, per data from the Bucharest Municipal Employment Agency.

Romania's leading electronics retailer Altex continues expansion and opens a new store in Husi, Vaslui county, eastern Romania, on Thursday, following an investment of EUR3 million.

UiPath, the most valuable company to emerge from the Romanian IT industry, has raised over $1.3 billion in an initial public offering ahead of its listing on the New York Stock Exchange on Wednesday.

NN Pensii, the largest private pension fund manager on the mandatory segment in Romania (Pillar II), reported a net profit of RON44.9 million in 2020, compared with a loss of nearly RON40 million the year before.