Romania Feed

Natural gas producer and supplier Romgaz (SNG.RO) has announced that the chief executive officer Razvan Popescu’s term was extended for four years from May 16, 2023, to May 16, 2027, as shown in a decision by the Board of Directors.

ArcelorMittal Hunedoara (SIDG.RO), the steel mill owned by ArcelorMittal group, reported for the first three months of 2023 a loss of RON18.2 million, lower than RON29.7 million in the same period of 2022, and a turnover of RON155.7 million, down 20.8% versus the same period of 2022.

New loans granted by banks in Romania to consumers and companies stood at RON30.5 billion in the first quarter of 2023, an increase of more than 7.77% on the RON28.3 billion in the year-ago period.

Romanian aluminum processor Alumil Rom Industry (ALU.RO) ended the first quarter of 2023 with a net profit of RON1.7 million, down 22.2% from the level reported in the same period of 2022, amid sales revenue of RON26 million, up 7.5% on the year, in line with calculations by Ziarul Financiar (ZF) daily based on data from the company's quarterly financial report published at the Bucharest Stock Exchange.

State-run port operator Oil Terminal (OIL.RO) has announced for the first three months of 2023 a net profit of RON23.4 million, up 103% compared with the net result reported for the same period of 2022, amid revenue of RON87.5 million, 41.9% higher on the year, as per calculations by Ziarul Financiar (ZF) daily based on data from the quarterly financial report published at the Bucharest Stock Exchange.

Romanian state-owned oil transporter (COTE.RO) ended the first quarter of 2023 with a net profit of RON18 million, which is 4.2% lower than the net resulted reported in the same period of 2022 and 27.9% higher than the result envisaged in the company's budget of revenue and expenditure, as per data from the quarterly financial report published at the Bucharest Stock Exchange.

One United Properties (ONE.RO), the most active real estate developer in Romania, has signed a pre-sale agreement for One Athénée for EUR24 million, the company said in a report.

Romania is the only country in the European Union (EU) facing the excessive deficit procedure, therefore, it must carry out a fiscal adjustment process which is essential, the country's central bank governor, Mugur Isarescu, said on Friday (May 12) at the presentation of the Quarterly Inflation Report.

Romania’s largest electricity producer Hidroelectrica and also the most eagerly awaited listing on the Bucharest Stock Exchange invested about RON351 million in corporate bonds due on December 30, 2025, and with a 7.5% coupon in 2022.

Online retailer Elefant.ro on Friday (May 12) announced its new shareholding after evoMAG, with the help of Catalyst Romania Fund II, became the majority shareholder of Elefant Online, after taking over the ownership stake held by Fribourg Investments.

Banca Comerciala Romana notified the Bucharest Stock Exchange of its first green Eurobond issuance worth EUR700 million on Friday. The transaction is the bank’s debut on the international capital market and consists of 4NC3 senior non-preferred green Eurobonds, with a maturity of four years and the possibility of early redemption after three years.

Romania’s industrial production decreased by 3.8% in unadjusted data in January-March 2023 due to drops in the electricity, gas, steam and air conditioning supply (-13.5%), manufacturing (-2.3%), but the mining and quarrying industry saw a 1.7% increase, data from the country’s statistics board INS showed on Friday (May 12, 2023).

The average net salary in Romania increased by 6.7% in nominal terms in March 2023 compared with February 2023, to 4,554 (EUR929), data from the country's statistics board INS showed on Friday (May 12).

Foreign direct investment (FDI) into Europe stalled in 2022, rising only 1% compared with 2021, and remains 7% lower than in 2019, just before the COVID-19 pandemic hit, according to the annual EY European Attractiveness Survey 2023.

Romania's annual inflation rate fell to 11.2% in April 2023 compared to 14.5% in March 2023, 15.5% in February 2023 and 15.1% in January 2023, data from the country's statistics board INS showed on Friday (May 12).

Real estate developer One United Properties in the first quarter of 2023 posted consolidated turnover of RON439.5 million, 26% higher than the year-earlier period level, and net profit of RON151.7 million, down 9% from 1Q/2022.

MedLife, leader of Romania’s healthcare market, in the first quarter of 2023 registered consolidated turnover worth RON529 million, up 26.4%, supported by all the business lines of the group and 2022 and 2023 acquisitions.

BRD Soc Gen, the third largest player in the Romanian banking system after Banca Transilvania and BCR, for the first quarter of 2023 reported RON342 million net consolidated profit, up 30% from the year-earlier period.

Romanian natural gas producer and supplier Romgaz in the first three months of 2023 recorded RON2.9 billion turnover, 25.9% below the 1Q/2022 level amid a 5.69% drop in deliveries.

Hidroelectrica, Romania’s largest electricity generation company and the most anticipated listing on the Romanian capital market, in the first quarter of 2023 registered RON3.37 billion revenues, up 37% from the year-earlier period, while its net profit went up by 34% to RON1.74 billion.