Romania Feed

Agricover Holding, an agribusiness held by entrepreneur Jabbar Kanani (87.3%), on Wednesday received the approval of the Financial Supervisory Authority in view of listing euro-denominated bonds totaling EUR40 million on the regulated spot market of the Bucharest Stock Exchange.

Banca Transilvania has revised its short and medium-term projections for Romania’s economy, expecting the country’s gross domestic product (GDP) to grow by 5% in 2021, productive investments by 6.4% and private consumption by 5%.

TeraPlast Bistrita (TRP.RO), construction materials producer owned by businessman Dorel Goia, has summoned its shareholders on April 28 to approve, among others, the election of a new Board member, for a mandate of a length equal to the remaining mandates of the directors in office, namely until September 14, 2021, considering that, following the resignation of Razvan-Stefan Lefter as Teraplast S.A. director, Lucian-Claudiu Anghel has been appointed interim director.

Sales of retailer Kingfisher in Romania, where it owns do-it-yourself (DIY) Brico Dépôt stores, grew 11.8% on the year in Romania in 2020, to GBP242 million, on increased demand.

Romanian real estate developer Impact Developer & Contractor (IMP.RO) said Wednesday it has received regulatory approval in view of listing euro-denominated corporate bonds totaling up to EUR6.58 million on the regulated spot market of the Bucharest Stock Exchange.

Romanian developer One United Properties has secured a building permit for its One Verdi Park residential project in northern Bucharest.

Romanian carmaker Dacia, owned by France's Renault Group, said Wednesday it would stop production for seven days in April due to the ongoing global chip shortage.

Romanian state-owned natural gas producer Romgaz (SNG.RO) plans to distribute dividends amounting to around RON690 million from its 2020 profit and retained earnings, subject to shareholder approval on April 27.

Greek-owned Alpha Bank Romania, one of the top ten lenders in Romania, reported a pre-tax profit of EUR21.3 million for 2020, operating revenue of EUR137.8 million, and a loan portfolio of EUR2.6 billion.

German-held cement manufacturer HeidelbergCement, which has three plants in Romania, has planned investments in improving operational efficiency in the country, after a year with rising demand fueled by an upward trend of the construction sector, its 2020 financial report shows.

Romania’s government in 2020 approved state aid for 30 projects with more than EUR500 million investments. State aid accounts for more than one third of this figure.

Brasov-based roofing manufacturer Bilka Steel has entered the top 20 Romanian-held exporters, 2020 data show. In all, including foreign-held companies, Bilka ranks 391, according to the preliminary data the National Statistics Institute supplied to ZF.

FUTURE Designs, a UK based designer and manufacturer of high-quality luminaries and bespoke lighting solutions, has obtained the first IMMUNE Building Standard™ certification in the world for an industrial building, awarded by the Healthy by Design Building Institute.

Bittnet (BNET.RO), a group of IT companies, listed on the Main Market of the Bucharest Stock Exchange, seeks to raise its share capital by nearly RON17 million and distribute free shares.

Erste's Banca Comerciala Romana (BCR) has completed the property transfer of Bucharest Financial Plaza, its former headquarters on Calea Victoriei in downtown Bucharest, to Austria's Immofinanz, one of the largest real estate groups in Central and eastern Europe.

Romania's nuclear power producer Nuclearelectrica (SNN.RO) said Tuesday in a market report it has deposited RON151 million with CEC Bank for one year at a negotiated interest of 1.75% a year.

SanoPass, a Romanian start-up that aggregates independent medical service providers to sell preventive medical care packages to companies as employee benefits, has attracted bridge financing of EUR800,000 to invest in marketing, sales, integrating AI and launching new products.

Romanian pharmaceutical company Biofarm Bucuresti (BIO.RO) estimates its turnover will grow 15% in 2021 compared with 2020, to over RON250 million.

Private lending in Romania grew 0.7% in nominal terms and 0.3% in real terms in February compared with January, to RON285.543 billion, central bank data showed Tuesday.

Romania’s government has granted some EUR100 million worth of state aid for six home appliances industry investment projects in the last five years. The investments stand at more than EUR210 million, according to the projects submitted with the state aid application.