Romania Feed

Romanian industrial equipment maker Comelf Bistrita in the first half of this year posted net profit worth RON1.9 million, almost similar with last year, when it reached a 61% increase, in line with ZF calculations.

CTP, the biggest player on Romania’s logistics market, is adding the 100,000-sqm CTPark Arad Vest project to its investment plan for Arad, with this also being the first park built from scratch by the developer in Arad.

Euroins Romania, the largest insurer in the country after the bankruptcy of City Insurance, is taking tentative steps in the non-auto liability insurance (RCA) area, posting significant increases in the gross written premiums in the first quarter of 2022, the company told ZF.

Concrete producer Readymix Romania posted RON136.4 million (EUR27.7 million) revenue in 2021, a slight decrease of 1% compared with the RON138.3 million (EUR28.6 million) of the previous year, data on the Finance Ministry website show.

Nuclearelectrica (SNN.RO), Romania’s only nuclear power producer, on Tuesday notified the Bucharest Stock Exchange about several contracts for wholesale of electricity to two companies of the Enel group, which stand at RON2.4 billion together.

Scandinavian retailer of furniture and home products JYSK continues expansion in Romania and opens a new store in Slatina, Olt County, on Wednesday, August 24, its 125th on the local market. The JYSK Slatina store has an area of 1,250 square meters and is located in the Shopping Park, on Artileriei Street

Romania’s central bank set the leu reference rate versus the euro at 4.8851 on Tuesday (August 23), flat on the level of Monday, while the dollar went up to the all-time high against the leu at 4.9225 and to a twenty-year high against the euro.

Sales of green cars, i.e., hybrids, BEVs/electrics and PHEVs/plug-in hybrids, in Europe's top ten car markets - Germany, France, Italy, Spain, the UK, Sweden, Norway, the Netherlands, Switzerland and Austria - fell by 4.4% in the second quarter of this year to 1.039 million vehicles.

The operator of the largest bulk raw material handling terminal in the Black Sea area, Comvex (CMVX.RO), plans to disburse additional dividends of RON21.57 million from the undistributed 2021 profit or a gross dividend of RON1.8508 per share.

Estonian-held Bolt, providing in Romania ride-hailing services, plus an electrical scooter maintenance services and food order app including an online mini-supermarket, seeks to expand its team nationwide and announces it has 20 jobs available.

Poland’s CCC, a major player in Romania’s footwear retail by turnover, is opening an offline store for its purely online brands epantofi.ro and Modivo in Mega Mall shopping center.

MMM Autoparts, a producer of tubes for the automotive industry, the local subsidiary of Spain’s MMM group, for 2021 reported turnover worth RON175.3 million (EUR35.6 million), up 17.5% from the previous year, in line with ZF calculations based on Finance Ministry data.

Bookstore chain Diverta, which went insolvent for the second time in the summer of 2021, was acquired by businessman Augustin Dragan from founder Octavian Radu several months ago. The deal included both the brick and mortar stores, managed by a separate company that is insolvent, and the online store, which has a different management and is not insolvent.

The number of job vacancies in Romania increased by more than 16% in the second quarter of 2022 compared with the year-earlier period, going from 39,504 to 45,976, National Statistics Institute data show.

Romania's Finance Ministry raised RON307 million from banks on Monday, via a government paper auction with a nominal value of RON300 million due in April 2036, at an annual average yield of 8.05%.

The shares of the Bucharest Stock Exchange (BVB), a company listed in 2010 on its own regulated spot market in the Premium category, will be included, from September 19, in the FTSE Russell indices dedicated to Emerging Markets. The BVB shares will be part of the FTSE Global Micro Cap, with the inclusion announced by the global index provider following its quarterly review published on August 19.

One United Properties, one of the largest real estate developers in Romania, saw its net profit soar by 136%, to RON347.8 million, in the first six months of 2022 from 1H/2021.

Romanian software company Encorsa, set up in 2019 by Romanian entrepreneurs Razvan Gabriel Ogrezeanu, Radu Margarit and Catalin Profir, expects turnover to reach EUR1 million (around RON4.8 million) at end-2022, up around 66% from 2021.

The four largest video game developers in Romania generated overall turnover worth almost EUR180 million (RON878 million) in 2021, up almost 19% on the year, in line with ZF calculations based on Finance Ministry data.

Romanian aluminum processor Alumil Rom Industry saw its net profit reach RON3.8 million in the first half of this year, from RON1.96 million in the year-earlier period, up 96%, in line with the advance posted by its operating income.