Romania Feed

Cement producer Romcim, part of Ireland’s CRH, registered solid results in East-European countries in the first six months of this year, with Romania and Poland in particular boasting high sales.

ArcelorMittal Hunedoara (SIDG.RO), the steel mill owned by ArcelorMittal group, recorded a loss of RON42.7 million in the first half, up from the RON19.3 million in the same period of 2021, the half-year report published on the Bucharest Stock Exchange shows.

Private lending in Romania grew by 15.9% in August 2022 compared with August 2021 to RON359 billion, as local currency lending increased by 16.8% and foreign currency lending expressed in lei by 13.8%, central bank data showed on Friday.

The authorities in Bucharest expect the largest sale of radio frequency spectrum since 2012, the so-called 5G auction to be held this fall, to start from an about EUR450 million price, as the potential slide into recession, the rising inflation, and especially power prices are dulling the appetite of telecom giants to buy the entire amount of licenses offered, whose starting price is EUR693 milion

Car parts producer Optibelt Power Transmission of Tautii-Magheraus, Maramures county, the local subsidiary of Germany’s Arntz Optibelt, ended the first half of this year with EUR39.45 million, up 31% from the year-earlier period.

Builder Wincon of Cluj-Napoca, owned by brothers Bogdan and Werner Irsik, is carrying out an investment to boost the production capacity at one of its plants, amid the upward trend of the logistics and industrial space market.

Maviprod-IRUM group of firms, owned by Oltean family of Reghin, in the first half of this year generated turnover worth above EUR30.5 million, up almost 40% from the year-earlier period, and expects total EUR65 million turnover in 2022.

Footwear retailer Benvenuti, controlled by local entrepreneur Dan Pavel, in the first half of this year reached turnover worth around RON67 million (EUR13.5 million), up 37% from the year-earlier period, in line with ZF calculations based on company data.

In 2021, the number of four-star units stood at 394, in line with National Statistics Board data. The considerable increase is mainly due to investors’ rising appetite for this field.

At 12:41 p.m. on Thursday, a DEALS transaction was registered in the Bucharest Stock Exchange system with a total of 13.1 million Evergent Investments (EVER) shares worth RON16.1 million.

Online fashion retailer DY Fashion expects to end 2022 with a turnover of EUR5 million, up almost 20% versus EUR4.2 million in 2021.

Romania's finance ministry raised RON216 million on Thursday (Sept 22), below the targeted level of RON400 million, selling bonds maturing in June 2026, at an annual average yield of 8.3%.

Romanian company Certion, which develops real estate projects in local seaside and mountain resorts, launches the real estate partitions, a concept initiated in the United States of America in early 1990s which refers to owning such a property together with other co-owners.

McCann Worldgroup Romania today promoted two managers, Ionela Buta, current chief operations officer, and Catalin Dobre, current chief creative officer, to the position of Co-CEO, after the end of the term of Sagit Tzur Lahav, who had run the communication company for the last nine years.

Urgent policy measures including adequate funding, the creation of smart city task forces and the availability of high-quality connectivity will be required to overcome barriers and ensure the European Commission achieves its ambitious mission of 100 carbon-neutral and smart cities by 2030, according to the latest Vodafone report.

Construction materials manufacturer Prefab Bucuresti (PREH.RO) said in a stock market report that on Sept 20 Romerica International SRL sold a total 6.5 million PREH shares, at a price of RON2.3 per unit, within a transaction amounting to almost RON15 million, as per calculations by Ziarul Financiar (ZF) daily.

Despite facing a far more difficult deal environment, 73% of dealmakers expect the level of European M&A activity over the next year to increase, up from 53% this time last year, as per the tenth edition of the European M&A Outlook published by CMS in association with Mergermarket.

Orange Romania, the leader of the Romanian telecom market, has expanded its 5G network to the central city of Sibiu, the company said in a statement.

Courier services company Nemo Expres Logistic (Nemo Express) on Thursday said it ended the first half of 2022 with a loss of RON7.1 million versus a loss of RON2.8 million in the year-earlier period, and a turnover of RON65 million, down 0.84% on the year, as per calculations by Ziarul Financiar (ZF) based on the company’s unaudited financial report sent to the Bucharest Stock Exchange.

Romania is considering getting a loan of approximately EUR4 billion from the European Investment Bank (EIB) and the funds will be used as co-financing for projects carried out under the National Recovery and Resilience Plan (PNRR).