Romania Feed

Airbag manufacturer TRW Automotive Safety Systems, part of Germany’s ZF Group, on Tuesday reported a net profit of RON55.3 million (EUR11.3 million) in 2021, double from RON26.3 million (EUR5.4 million) in 2020, as per calculations by Ziarul Financiar (ZF) daily based on finance ministry data.

Skiptrans, part of Jost Group, an international carrier located in Luxembourg and Belgium, had a turnover of RON329.2 million (almost EUR67 million) in 2021 in Romania, down 2.5% from RON337.4 million (EUR69.7 million) in 2020, as per calculations by Ziarul Financiar (ZF) based on finance ministry data.

Romania’s three-month ROBOR index, the interbank interest rate used as a reference to calculate variable interests for loans in lei taken out before May 2019, continued its downward trend, dropping further to 7.96% a year on Tuesday (August 16) from 7.98% a year on Friday (Aug 12), as per central bank data.

Aquila (AQ.RO), the leading player in the local market for integrated distribution and logistics services, announces that its own brands Gradena and LaMasa saw a 33% increase in value in the first half of this year compared with the same period last year.

WIP Industries Romania, a supplier of components for the furniture industry and the local division of Sweden’s WIP Holding, on Tuesday said it had a turnover of RON52.7 million (EUR10.7 million) in 2021, up 37.5% on the year, in line with calculations by Ziarul Financiar (ZF) based on finance ministry data.

Romanian state-owned lender CEC Bank posted RON110.8 million unaudited estimated profit in the first half of 2022, compared with RON208 million in the year-ago period, while assets increased by 20% to RON53.3 billion.

Huf Romania, a producer of car access and authorization systems, part of Germany’s Huf Group, on Tuesday reported a turnover of approximately RON330.3 million (EUR67 million) for 2021, up 70.4% on the year, in line with calculations by Ziarul Financiar (ZF) based on finance ministry data.

The skyrocketing prices of edible oil have tripled the turnover of edible oil producer Argus Constanta (UARG.RO) to almost RON200 million and its net profit grew 11-fold to RON28.4 million on the year in the first half of 2022.

Technology startup investment platform SeedBlink on Tuesday said it has completed the acquisition of Symbid, one of the world’s first investment crowdfunding platforms.

Pharmaceutical wholesaler Farmaceutica Remedia (RMAH.RO) ended the first six months of the year with a net profit of RON3.7 million, down 12% from the RON4.2 million in the first half of last year.

Aerostar Bacau (ARS.RO), a manufacturing and maintenance company in the aviation industry, made net profit of RON48.8 million in the first half of 2022, up 35.6% compared with the first half of 2021.

Automotive components manufacturer Compa Sibiu (CMP.RO) ended the first half of 2022 with a net profit of RON4.7 million, down 73.3% compared with the year-ago period.

Romania's current account balance posted a deficit of EUR12.2 in January-June 2022, higher by almost 71% on the EUR7.2 billion in the year-ago period, central bank data published on Friday (August 12) show.

Transelectrica (TEL.RO), the operator of the national energy transmission system, ended the first half of the year with a net profit of RON28 million, down 73% compared with the RON104 million of the year-ago period, the financial report published on the Bucharest Stock Exchange on Friday shows.

Telecom operator Digi Communications (DIGI.RO) recorded total revenue of EUR731.1 million in the first half of 2022, up 20% compared with the EUR608.8 million in the year-ago period, according to calculations made by ZF based on Bucharest Stock Exchange data.

Bico Industries, a subsidiary of ROCA Industry, a holding company established by ROCA Investments under the name of Holdingrock1 at the Trade Register, is in advanced negotiations with SmartTech, a company incorporated and organized under the laws of Switzerland, for the acquisition of 77.5% in Iranga Technologijos in Lithuania for EUR4 million, ROCA Industry announced.

Romgaz (SNG.RO), a state-owned natural gas producer and supplier, posted RON1.7 billion net profit in the first half of 2022, an increase of 127% on the year-ago period. Revenue, on the other hand, tripled to RON7.5 billion, the company’s financial report to the Bucharest Stock Exchange shows.

Nuclearelectrica (SNN.RO), Romania's only nuclear power producer, ended the first half of 2021 with a net profit of RON1.2 billion, up 216% year-on-year, while revenue increased 127% to RON3.1 billion, of which revenue from electricity sales accounted for RON3 billion, up 130% year-on-year.

Canadian coffee shop chain Tim Hortons has posted its first job ads for Romania, a move that could indicate the group is preparing to arrive in the country.

Gral Medical, the sixth largest player in the private medical services market by revenue, has two sites in Craiova and Ploiesti ready for two oncology hospitals, an investment estimated at RON24 million for which the company's owner, Robert Serban, has also looked at state aid.