Romania Feed

Raiffeisen Bank has placed a new corporate bond issue in lei, the bank's fourth eligible bond issue (MREL) and the first sustainable bond series, raising RON500.85 million from institutional investors for a five-year maturity, the bank said.

Romanian company THR Marea Neagra (EFO.RO), which manages 11 hotels and restaurants in seaside resorts, reported a net loss of RON15.2 million for the first half of 2022 versus a loss of RON11 million in the year-earlier period, as per its half-year report sent to the Bucharest Stock Exchange on Thursday (Aug 11).

Romanian startup Parol, which is developing an end-to-end technology that helps doctors and medical clinics provide better care to patients, saving time by taking over some of the administrative tasks, has raised EUR450,000 in a pre-seed funding round, company representatives said in a statement.

Transport and System Operators (OTS) Transelectrica and Moldelectrica on Thursday (August 11) signed a contract that will allow the allocation of capacity for commercial exchanges of electricity on the interconnection between Romania and the Republic of Moldova.

Low-cost carrier Wizz Air said it would operate a new route from Romania to Cardiff (Great Britain), starting October 30, 2022.

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 to 8.02% a year on Thursday (August 11) from 8.06% a year on Wednesday (Aug 10) after central bank governor Mugur Isarescu accused local banks of artificially increasing the rate.

Romanian shipyard Santierul Naval Orsova (SNO.RO) ended the first half of 2022 with a net loss of RON2.5 million, higher than the RON335,300 loss in the same period in 2021, and a turnover of RON24 million, down 39.3% on the year, as per data from the company’s half-year report sent to the Bucharest Stock Exchange.

Holde Agri Invest (HAI.RO), a Romanian agribusiness company, has closed the operation to increase its share capital, raising about RON21 million from investors, it said in a report to the Bucharest Stock Exchange.

Electromagnetica Bucuresti (ELMA.RO), which makes electrical equipment and produces electricity, reported revenues of RON109.6 million for the first half of 2022, down 48% from RON210.8 million in the year-earlier period, as per calculations by Ziarul Financiar (ZF) based on stock market data.

OTP Bank, the Romanian subsidiary of Hungary's largest banking group, recorded a loss of RON14 million in the first half of this year, mainly due to an increase in the total cost of risk, notes the financial report published in Budapest, which presents the consolidated results adjusted in accordance with the group's reporting standards.

2Performant, the main player on Romania’s affiliate marketing market, listed on the AeRO market of the Bucharest Stock Exchange (2P.RO), had a turnover of RON16 million in the first half of 2022, up 49% on the year, as per the company's half-year report sent to the Bucharest Stock Exchange on Thursday (Aug 11).

Nuclearelectrica (SNN.RO), Romania's only nuclear energy producer, announced on the Bucharest Stock Exchange that, based on the recommendation of the Nomination and Remuneration Committee, the Board of Directors approved in its August 10 meeting the renewal of Cosmin Ghita’s mandate as CEO for a period of four years starting on February 12, 2023, i.e., one day after the expiry date of the current mandate.

Romanian oil storage and shipment firm Oil Terminal Constanta (OIL.RO) said in a stock market report on Thursday that it ended the first half of 2022 with a net profit of RON17.8 million, up almost 83% from the same period of 2021.

Financial analysts expect the Romanian leu will depreciate to an average of 5.1165 units to the euro in the next 12 months, while inflation is seen averaging 11.7% during the same period, a monthly poll by CFA Romania showed Thursday (August 11).

The average net salary in Romania increased by 1.2% in nominal terms in June 2022 compared with May 2022, to 3,977 lei (EUR811), data from the country's statistics board INS showed Thursday (August 11).

Romania's annual inflation rate accelerated to 15% in July 2022 as compared to July 2021, data from the country's statistics board INS showed Thursday (August 11).

Romanian-held bakery producer Pambac posted more than RON263 million (EUR53.5 million) revenue in 2021, up 22.6% compared with the previous year’s RON214.5 million (EUR44.3 million), according to ZF calculations based on data from the Finance Ministry.

Drug manufacturer Antibiotice Iasi (ATB.RO) wants to build two new factories for sterile products and sterile topical products, a total investment of RON200 million.

Romanian nuclear power producer Nuclearelectrica (SNN.RO) said in a stock market report on Wednesday (Aug 10) that it concluded two contracts worth RON391.6 million for the sale of electricity to OMV Petrom, Romania’s sole energy and gas producer and the largest company listed on the Bucharest Stock Exchange.

The Romanian office of the CEE / SEE law firm Wolf Theiss has represented a syndicate of banks made up of Raiffeisen Bank and Banca Comerciala Romana (BCR) in relation with a credit facility of EUR325 million granted to Romanian natural gas producer and supplier Romgaz (SNG.RO).