Romania Feed

La Fantana, one of the leading local suppliers of bottled water for water coolers to companies seeks to expand the production capacity of the plant in Talmaciu, Sibiu County.

Seven in ten financial analysts polled by CFA Romania expect Romania's inflation rate to grow to 3.53% over the next 12 months, and over 80% of them estimate the leu will depreciate against the euro, to 5.0062 units over the same horizon.

Household cleaning and personal care products manufacturer, importer and wholesaler Interstar Chim posted some RON185 million revenue in 2020, its highest ever.

The net profit of Romania’s banking system reached about RON1.89 billion at the end of the first quarter of 2021, 15% higher than in the year-ago period, while assets rose to a peak of RON574.9 billion, as lending increased at a rate of 5.7%, Romania’s central bank preliminary data show.

International Finance Corporation,a member of the World Bank group, is investing approximately $25 million equivalent in Romanian lei in senior non-preferred bonds placed by Banca Comerciala Romana S.A. (BCR), a systemic bank in Romania.

Romania's central bank board members discussed at length the new anticipated inflation pattern, raising the forecast to 4.1% at the end of 2021 from a previously expected 3.4%, the minutes of the central bank's policy meeting of May 12 showed Monday.

Furniture manufacturer Ecolor, owned by Swedish company Gyllensvaans Möbler and general manager Carl Widell, plans to invest RON28 million in 2021 in raising production capacity and automation.

Paving stone manufacturer Symmetrica of Suceava, owned by the Stanciu family, posted a turnover of RON162.2 million in 2020, up 19% on the year, and doubled its profit to RON17.1 million, finance ministry data showed.

Romania's finance ministry on Monday raised a planned 300 million lei (EUR60.9 million) selling bonds maturing in October 2034 at an average yield of 4.15%, central bank data showed.

Romanian cosmetics manufacturer Farmec Cluj will make its packaging lines available to medicine producer Terapia Cluj for the manufacturing of hand sanitizer.

The BVB Research Hub platform, launched by the Bucharest Stock Exchange with the aim to provide investors access to fundamental research, launches a new functionality, a Peer Comparison tool, which allows up-to-date comparisons between the multiples of the BVB-listed issuers and the most relevant peers, prioritizing peers listed in Romania or on other CEE-based exchanges.

Dental clinic chain Dent Estet, controlled by private medical services operator MedLife, ended the first quarter of 2021 with a turnover of RON22 million, up 37% on the year, above the level projected at the beginning of the financial year.

The Romanian division of Eglo Leuchten Austria Group, one of the world’s leading lighting producers, has invested over EUR10 million in Romania, over the last 25 years, in developing its network of showrooms, partner stores, its own online platform and in employees.

Austrian Uniqa Group, which owns in Romania general insurance division Uniqa Asigurari and life insurance division Uniqa Asigurari de Viata, ended the first three months of 2021 with underwritten gross premiums of EUR25.2 million, under the IFRS standards, up 5.7% on the year, and a total net profit of EUR1.9 million, down 20% versus the first quarter of 2020.

Real estate developer City Garden is investing over EUR16 million in developing a residential complex in Pipera (northern Bucharest) which will comprise 66 villas, a swimming pool and a fitness club.

Courier services company Sameday, owned by online retailer eMag, has announced its expansion on the Hungarian market, considering that it is already present on this market with delivery options in Budapest and the metropolitan area, and is going to extend its coverage countrywide, in all localities, in the next two months.

The largest refinery in Romania, Rompetrol Rafinare, part of the Kazakhstan-based KMG International group expects an improvement of its results this year with the return of demand for oil products.

The use of digital services in Romania has increased at an accelerated pace, with some 4.1 million Romanians starting to use digital services since 2019, which boosted the total number to 10.8 million digital users, a McKinsey & Company survey found.

Builder Spedition UMB ended last year with an almost four-fold increase in revenue to more than RON1 billion, Finance Ministry data show.

Travel agency Christian Tour, part of Memento Group controlled by Cristian Pandel, had a turnover of RON19.6 million in 2020, under the impact of the COVID-19 pandemic, down 53% from RON42.2 million in 2019.