Romania Feed

Romanian pharma producer Antibiotice Iasi ended the first quarter of 203 with RON178 million sales, up around 40%, and RON22 million net profit, almost triple the level of the year-earlier period.

Aluminum producer Alro Slatina, one of the largest vertically integrated aluminum producers i Europe, in the first quarter of 2023 posted consolidated turnover worth RON822 million, 25% lower than in the year-earlier period, and net losses of RON52 million, from a net loss of RON18 million in 1Q/2022.

Nuclearelectrica, Romania’s sole nuclear power producer, ended the first quarter of 2022 with RON2.1 billion revenues, up 13.5% from the first three months of 2022, while profit fell by 6.4% to RON767 million.

Uber Romania, the US-held ride-hailing and micro-mobility company, is diversifying its product portfolio and launching the Uber Black service, where passengers can travel in premium vehicles such as the Mercedes-Benz E-Class, Volkswagen ID.4 or Tesla Model 3.

Galati-based builder Tancrad saw its revenue increase by 25% to RON364 million in 2022, the latest data on the Finance Ministry website show. The revenue returned to growth after the decline of 2021.

Albatros Gold, a medium-sized egg producer in Romania, has opened a compost plant where it makes organic fertilizer, following a EUR2 million investment. The investment was made to improve cost efficiency and to put on the market a product in higher and higher demand.

Elefant Online, one of the largest online retailers in Romania and owner of elefant.ro, on Thursday evening announced on the Bucharest Stock Exchange, where it has a bond issue listed, that two of its shareholders, Millennium Gold Resources Limited and Catalyst Romania SCA SICAR, had signed an agreement transferring their 58.84% and 9.62% stakes or 44 million shares to Evolution Prest Systems.

Nokian Tyres, a Finnish producer of tires and one of the world's leading players on this market, has started the construction of a new production facility in Oradea (north-western part of Romania), a project that will entail an investment of EUR650 million.

Private equity firm BlackPeak Capital has appointed Virgil Chitu, a banker with more than ten years of experience, head of its Romanian operations and announced an up to EUR40 million investment plan to support small and medium-sized businesses in Romania.

WNS Global Services, a global leader in Business Process Management (BPM), extends their lease agreement for 3,800 square meters of office space in the H5 building located in the West Gate Business District complex.

British American Tobacco (BAT) has appointed Dr James Murphy as its new Director, Research and Science, joining the Management Board and reporting to the Chief Executive.

Romania's Finance Ministry raised RON690 million from banks on Thursday (May 11) selling government paper maturing in April 2036, at an annual average yield of 7.34%.

IT is the most attractive sector for Romanian employees, with Microsoft being the most attractive employer, for the second time in a row, HP holding the second spot, and IBM Romania ranking third, as per the Randstad Romania Employer Brand Research, the world’s most comprehensive employer brand research.

Swedish furniture and home décor retailer IKEA will be opening its third store in Romania, in western city of Timisoara, on June 8, 2023.

Irish fashion retailer Primark, famous for its large format stores and low pricing strategy, has announced on May 11, 2023 that it will open its second store in Romania, in Bucharest-based AFI Cotroceni shopping center, on June 20, 2023.

Dacia Mioveni and Ford Otosan Craiova, the two car plants in Romania, manufactured 34,000 vehicles in April 2023, 15% fewer than in April 2022, as per data from the country's carmakers association ACAROM.

Law firm Filip & Company has assisted Holde Agri Invest group in taking out a syndicated loan in the amount of RON30.5 million and EUR26.7 million, with lender Banca Transilvania acting as arranger and financier, and lender OTP Bank Romania acting as financier for the working capital and acquisitions of farms and farmland.

Pharmaceutical producer Biofarm Bucuresti (BIO.RO) estimates a turnover of approximately RON325 million for 2023, up 17% versus 2022 level, and a 6% higher net profit compared to 2022 when it reported a net result of RON71 million, the company said on Thursday (May 11).

Cargus, one of the largest players in the Romanian courier services industry, is expanding its management team with the appointment of Nelu Gheorghita to the position of Chief Operations Officer (COO).

Holde Agri Invest, a Romanian company exploiting around 13,200 hectares of farmland, on Thursday morning announced at the Bucharest Stock Exchange the signing of a syndicated credit agreement for four different financing lines with Banca Transilvania and OTP Bank for working capital and investments.