Romania Feed

The Board of Directors of building materials manufacturer TeraPlast Bistrita (TRP.RO) has approved a decision to contract an investment loan of EUR13.2 million from lender Banca Transilvania for the acquisition of companies part of Austria's Freiler Group.

Romanian state-owned oil transporter Conpet Ploiesti (COTE.RO) in a stock market report on Wednesday (March 27) announced the conclusion of a contract worth RON105 million with OMV Petrom (SNP.RO), the largest integrated energy company in Southeast Europe.

Amazon Development Center, the development center US giant Amazon in Romania, reported net loss of RON52.5 million for 2023, sixfold higher than RON8.22 million reported for 2022.

State-run Hidroelectrica (H2O), the largest electricity producer in Romania, on March 27, 2024 announced its first proposed dividends since going public in the summer of 2023.

ELI Parks, one of the most active logistics and industrial space developers in Romania, has signed an agreement for the expansion of RetuRO's operations to ELI Park Ploiesti.

Electrical equipment distributor Promelek XXI in Cluj-Napoca, part of the Spanish group Elektra, posted about EUR44 million revenue for 2023, up 10% compared with the previous year, when its revenue stood at EUR40 million.

Cometex, the real estate division of Altex Group, the leader of the Romanian electro-IT market and one of the three leading Romanian entrepreneurial companies, will be opening on March 28, in Hunedoara, a retail park of 5,000 square meters following an investment of over EUR4 million.

Exclusive Networks Romania, the local subsidiary of the French group by the same name, announces the appointment of Bogdan Mircea Ciobanu to the position of chief executive officer of the company.

Retele Electrice Muntenia, part of the PPC Group, formerly named E-Distributie Muntenia, aims to complete the modernization of the Obor and Filaret transformer stations in capital city Bucharest by the end of 2024.

International law firm CMS has advised PPC Renewables on the successful completion of their acquisition in Romania of an 84 MW operational wind farm from Lukoil Group, a deal that was signed and announced in 2023.

Retele Electrice Muntenia company (part of the PPC Group, formerly named E-Distributie Muntenia) has finalized the modernization works for the North Power Station, the largest primary substation in the country, following an investment of almost RON70 million covered from the company’s own funds.

More than half of workers (54%) around the world identify increasing work stress as their top concern, according to the Deloitte 2024 Global Human Capital Trends report, while technology advancement is second on the list, according to a quarter of workers, who worry about the significant changes that technology advancement brings, such as creating the need for new skills and new jobs.

JT Grup Oil, a fuel wholesaler of Constanta controlled by businessman Jean Paul Tucan, has finalized the first stage for the development of an oil product terminal, a EUR25 million project funded from own capital, an investment loan granted by UniCredit Bank Romania and EU funds.

Romania ranks 21st among the 27 EU member states in terms of GDP per capita expressed in purchasing power, respectively 22% below the EU average, beating Hungary, Croatia, Slovakia, Latvia, Greece and Bulgaria, in line with Eurostat data.

Financial analysts part of the CFA Romania association estimate the Romanian currency will decline to an average exchange rate of 5.0500 units/Euro in the next 12 months, while the inflation rate will average 5.46%, the lowest level since November 2021.

The Bucharest Stock Exchange, the operator of the Romanian capital market, has budgeted RON12.6 million net profit for this year, below the RON21.8 million profit of 2023, which was influenced by Hidroelectrica listing, but above the profit adjusted without the impact of the listing, of RON9.9 million.

SIF Muntenia (SIF4.RO) on Tuesday notified the Bucharest Stock Exchange that the Financial Supervisory Authority (ASF) had approved the modifications to its articles of incorporation to reflect the change of the company’s name to Longshield Investment Group.

Scandinavian home furnishing retailer JYSK continued expansion in Romania by opening two new stores in Husi and Bistrita this week for a total of 140 in the country.

Geological surveying company Prospectiuni Bucuresti (PRSN.RO), mostly held by businessman Ovidiu Tender and SIF Muntenia, has called shareholders of April 29 to vote on establishing a subsidiary in the United Arab Emirates.

Private medical service provider MedLife (M.RO) notified the Bucharest Stock Exchange on Tuesday that the private pension fund Metropolitan Life had reported owning more than 5% of the voting rights.