Romania Feed

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.

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, has dropped further 7.98% on Friday (August 12) from 8.02% a year on Thursday (August 11), central bank data show.

Solder paste and adhesive materials manufacturer Heraeus Romania, the local subsidiary of Germany’s Heraeus, posted revenue of RON291.1 million (EUR59.2 million) in 2021, up about 28% from the previous year, according to ZF calculations based on data from the Finance Ministry.

Insulation materials manufacturer Knauf Insulation, part of Germany’s Knauf Group, has applied for RON90 million state aid, which would be part of a RON648 million investment, the results of the selection process of state aid applications Finance Ministry published on Tuesday show.

The five best-selling bottled mineral water brands in Romania had a combined market share of 78.7% by value last year, data from market research company Market Vektor show.

Star Assembly, Pirelli Tyers Romania, Continental Automotive Systems and Dacia Automobile, four of the ten largest players in the automotive sector in the country, are planning investments of more than RON1.7 billion, for which they applied for state aid of RON82 milion to RON185 million.

Romania's Finance Ministry on Thursday reopened a bond issue due in February 2029 and borrowed RON938.5 million from banks, three times more than the scheduled RON300 million, at an average yield of 7.81% a year.