Romania Feed

A survey conducted by Impact Hub and Bravva Angels for ING Bank Romania shows that one in four companies in Romania is 100% owned by women.

iHunt Technology Import-Export, a supplier and manufacturer of mobile phones and gadgets, reported a net RON52,512 net result for 1Q/2023, 94.6% below the RON968,398 profit of 1Q/2022.

Geological prospecting company Prospectiuni Bucuresti, majority owned by businessman Ovidiu Tender, posted RON1.27 million profit in the first three months of 2023, from RON3.46 million losses in the year-earlier period.

Ferrero Romania, a major player on the local confectionery market, ended 2022 with turnover worth RON1.2 billion (around EUR246 million), up over 15% from 2021, in line with ZF calculations based on Finance Ministry data.

Private hospital Sanconfind of Campina, with a 90-bed capacity, ended 2022 with turnover of RON24 million (around EUR5 million) and posted a 10% increase in the first quarter of this year.

Bucharest’s medical center Emerald, part of Softmedica group, has opened the second clinic in Iasi, in a EUR3 million investment, and plans to open another six in major cities of Romania.

Retailer Profi, controlled by investment fund MidEuropa Partners, saw its sales go up by 22% last year, with the increase particularly supported by the rising number of clients.

Romanian natural gas producer and supplier Romgaz (SNG.RO) on Thursday (May 25) said in a stock market report that it placed with Romania’s import-export bank Eximbank a term deposit without auto-renewal option in the total amount of RON450 million.

Holde Agri Invest (HAI.RO), a Romanian-held company that operates farmland, has informed its shareholders of the conclusion of a contract with Agricover SA whose cumulative value exceeds 10% of the total income corresponding to the latest annual financial statements, as per a report published at the Bucharest Stock Exchange on Thursday (May 25).

The net assets of the 93 Romanian open-end investment funds totaled RON17.8 billion (EUR3.6 billion) in April 2023, up 1.9% since the beginning of the year, data from the local Association of Asset Managers (AAF) showed Thursday (May 25).

Distributie Energie Electrica Romania (DEER), a member company of the Electrica Group, has undertaken to implement an ambitious investment program for 2023, targeting investments of around EUR100 million annually, from its own funds or bank loans.

Private lending in Romania grew by nearly 9% in nominal terms (-2.2% in real terms) in April 2023 versus April 2022 to RON369.9 billion, as local currency lending increased by 1.6% (-8.6% in real terms) and foreign currency lending expressed in lei by 27.9% (+28.3% in real terms when expressed in euros), central bank data showed on Thursday (April 28).

The Romanian office of the CEE / SEE law firm Wolf Theiss acted as legal advisor to Banca Comerciala Romana (BCR) in relation to its inaugural issue on the international capital markets of EUR700 million fixed to floating senior non-preferred green Eurobonds due in 2027, under the Multi Issuer EMTN Program.

The Bucharest Stock Exchange (BVB) has announced that it will start trading the green Eurobonds issued by BCR in the amount of EUR700 million, on the Main Market of the Bucharest Stock Exchange, on Tuesday (May 30).

Innova Capital, a leading private equity firm in Central and Eastern Europe (CEE), has announced the acquisition of the majority stake in NETOPIA Group, a Romanian payment services provider.

Romania's High Court of Cassation and Justice has confirmed the deductibility of expenses and VAT generated by transfer pricing adjustments made by affiliated companies under contracts signed at group level.

Romania's Finance Ministry raised RON3.7 billion from banks on Thursday (May 25), selling government paper maturing in 2038, at an annual average yield of 7.49%.

The COVID-19 crisis prompted a surge in the digitalization efforts of EU firms, with more than half (53%) of EU firms taking steps in 2022 to enhance their digital presence, such as offering services online, as per a new report, "Digitalization in Europe 2022-2023: Evidence from the EIB Investment Survey".

The local unit of German group Siemens has extended for another 5 years the leasing contract for the office space in West Gate Business District, where the company has been headquartered for 15 years, announced Genesis Property, the developer of the real estate compound.

Financial analysts part of CFA Romania association expect the local currency to decline to an average exchange rate of 5.0528 units per euro in the next 12 months, while the anticipated rate of inflation will reach an average value of 8.13%, a one-year low.