Romania Feed

Italian utility group Enel, which owns electricity distribution companies E-Distributie Muntenia, E-Distributie Dobrogea and E-Distributie Banat, reported revenues of EUR1.39 billion in Romania in 2020, from EUR1.37 billion in 2019.

Foreign investors operating on the Romanian financial market injected over RON200 million (around EUR42.3 million) as capital into their local subsidiaries in 2020, 73% less than in 2019, when capital inflows stood at RON744 million, Trade Registry Office data showed.

Germany’s Kärcher group, which makes vacuum cleaners in its own plant Curtea de Arges, Romania, said its turnover grew 30% in 2020, to over RON380 million, and business has picked up in 2021.

Estonian ride-hailing service Bolt currently has over 5,000 drivers active on its platform and the number is increasing, company officials told Ziarul Financiar.

Romanian state-owned Antibiotice Iasi (ATB.RO), the largest pharmaceutical producer in Romania, plans to distribute RON2.2 million as dividends from its 2020 profit of RON26 million profit.

The Cluj county council has issued an urban planning certificate in view of area planning and feasibility studies for the city's future metropolitan train line.

Omniasig, the biggest local insurance company owned by Austria's Insurer Vienna Insurance Group (VIG), reported gross underwritings of RON1.5 billion in 2020, up 5% compared with 2019.

Higher education, water distribution, energy efficiency and private sector investment across Romania will benefit from more than EUR809 million of new financing from the European Investment Bank and European Investment Fund, EIB said in a press release Thursday.

Insolvent chemical fertilizer plant Chemgas Slobozia, part of Interagro group, has been put up for sale by judicial liquidator at a starting price of RON124 million.

Online furniture and home decor retailer Vivre Deco said Thursday it plans to issue corporate bonds of maximum EUR7 million to fund its further development.

Romania's finance ministry on Thursday rejected all bids at a tender for bonds maturing in October 2030, where it planned to raise 400 million lei (EUR81.8 million), as interest for the issue was very low, central bank data showed.

Romanian state-owned energy utility group Electrica (EL.RO) will seek shareholder approval on April 28 for loans totaling over RON1.7 billion from the EIB, Raiffeisen Bank and Erste to fund investments and acquisitions over the next three years.

Romania manufactured 39,348 vehicles in February 2021, 18.09% fewer compared with 48,038 units produced in February 2020, data from the country's carmakers association ACAROM showed Thursday Monday.

The Board of Directors of regional investment fund SIF Oltenia (SIF5.RO) has summoned shareholders on April 28, 2021 to vote on how to distribute the net profit for 2020, in the amount of RON52.2 million, per the summoning note.

Impact Developer&Contractor wants to increase its share capital by RON131 million, by incorporating the capital premiums amounting to RON69 million and the result carried forward from 2020 amounting to RON61 million.

Agroland Agribusiness, part of Horia Cardos' Agroland Group, will change its status from a limited liability company to a joint-stock company, group shareholders decided Thursday.

Asirom VIG on Thursday said it registered revenue from gross underwritten premiums of RON633 million in 2020, up 16% on the year.

The assets managed by private pension funds (Pillar II and Pillar III) reached RON78.07 billion at the end of 2020, 21% higher compared with the end of 2019, financial regulator data showed Thursday.

The real estate investment market has become a more and more attractive alternative for Romanian entrepreneurs who are interested in diversifying the instruments whereby they can place the capital obtained from other businesses.

Real estate developers delivered some 142,400 square meters of new modern retail spaces in 2020, little over half of the estimates before the Covid-19 pandemic, of approximately 250,000 sqm, because the pandemic triggered delays in construction and lease activities and prompted companies to have a more cautious approach, per a Colliers report on the market evolution in 2020.