Romania Feed

Half (52%) of the chief executive officers in Romania are confident about an increase in the revenue of the companies they run in the following year, but at the same time a quarter believe their organizations will not survive ten years from now if they continue as they are today and do not make transformation decisions, PwC CEO Survey 2023 report shows.

Shipbuilder Santierul Naval Orsova (SNO.RO), which makes river ships, has notified the Bucharest Stock Exchange of the signing of a EUR2.46 million contract with Dutch-held Rensen-Driessen Shipbuilding.

Law firm Filip & Company assisted on the one hand, Inform Lykos, part of AUSTRIACARD Holdings, a provider of digital security solutions and business process management outsourcing services and, on the other, businessman Octavian Radu in partnering to establish a holding company that took over the postal and courier service operations of Pink Post and the postal service volume aggregation operation of Inform Lykos.

Investment fund manager SAI Certinvest saw 3.9% growth in net assets in the first two months of 2023 compared with December 2022 and a 217% increase in the number of new active investors, the company announced.

Sphera Franchise Group (SFG.RO), which holds the franchise for the KFC, Pizza Hut and Taco Bell, has notified the Bucharest Stock Exchange about the opening of a new KFC restaurant, its 98th in Romania.

BCR has signed an agreement with Victoriabank – one of the largest in the Republic of Moldova, controlled by Banca Transilvania and EBRD, for the sale of the entire stake in BCR Chisinau.

The ten largest banks by assets in Romania increased their assets at different paces in 2022, going from 5% to 56%, while the net assets of the entire banking system increased by almost 10% to a record RON701.4 billion.

Tissue paper manufacturer MG TEC Industry, based in Dej and founded in 2018 by entrepreneur Vasile Hasmasan, ended 2022 with a turnover of RON225 million (over EUR45 million), almost fourfold higher than in 2021, as per finance ministry data.

The Bucharest Stock Exchange registered Wednesday afternoon (March 29) a Deals transaction with 143.75 million shares of hotel company Turism Felix (TUFE.RO), owner of Baile Felix resort tourism compound.

Danube transport company Transport Trade Services (TTS.RO) has concluded a contract with Raiffeisen Bank International AG regarding market maker activity on the regulated spot market administered by the Bucharest Stock Exchange, as per a stock market report released on March 29.

Square 7 Properties, in partnership with Belgian investment fund Mitiska REIM, is opening the Giurgiu Shopping Park retail project this week.

Distribution and logistics company Aquila Part Prod (AQ.RO) expects RON2.4 billion revenue in 2023, up from the RON2.2 billion of 2022.

Romanian C-suite leaders are optimistic about the future of their businesses, while recognizing the significant challenges that Romania, as well as the entire world, is facing, as per the 2023 C-suite barometer: Bold leadership for a sustainable future, conducted by Mazars, the international audit, tax and advisory firm.

Deal activity across Europe continued at a steady pace during 2022 despite an increasing number of economic headwinds, according to the latest annual European M&A study by global law firm CMS.

Deloitte Romania has assisted Mexican bakery company Grupo Bimbo, the global leader in the market, with the acquisition of the local leader baker Vel Pitar from U.S. private equity fund NCH Capital.

Knauf Insulation, one of the largest insulation materials manufacturers, part of Germany’s Knauf Group, has started the construction of a new factory in Tarnaveni.

Romania’s economic growth will slow down in the first half, following a decline in household spending, investments and the compression of the export growth rate, but has solid prospects of a later rebound and will reach 2.8% by the end of the year, OTP Bank analysts estimate.

Hidroelectrica, the largest electricity producer in Romania and a company that is preparing to be listed on the Bucharest Stock Exchange, expects a net profit of RON3.66 billion in 2023, down 8.5% on the year, and revenue of RON11.63 billion, up 27.8% from the 2022 result.

Belgian-held drywall products maker Etex Building Performance (Siniat and Promat Romania) announces the appointment of Andrei Popa to the position of general manager for Romania and the Southeast Europe (SEE) region.

The Bucharest Stock Exchange on Wednesday (March 29) released the volume ‘ Made in Romania: 15 companies for the growth of the Romanian economy and their success stories’, including the stories of the finalists in the 5th edition of Made in Romania, held in 2022.