Romania Feed

E.ON Gaz Furnizare and E.ON Energie Romania, the natural gas and electricity suppliers of German utility E.ON Group in Romania, on Thursday said they are involved in a process of merger through absorption.

Lender Patria Bank (PBK.RO) has decided on the early closing of the Offer for the sale of euro-denominated bonds, Wednesday evening, on September 30, 2020.

Romanian harbor operator Comvex Constanta (CMVX.RO) posted loss of RON9.7 million in the first half of 2020, compared with profit of RON5.2 million in the same period last year.

Romanian aircraft parts maker Romaero (RORX.RO), of strategic importance for the Romanian aerospace and defense industries, posted a loss of RON24.1 million in the first half of 2020, compared with a loss of RON32.3 million in the same period last year.

Romania attracted foreign direct investments totaling EUR5.17 billion in 2019, of which EUR2.2 billion equity and EUR2.8 billion reinvested earnings, and total FDI stock reached EUR88.3 billion, central bank data showed Wednesday.

OMRO IFN, one of the first microfinance institutions in Romania, previously known as Opportunity Microcredit Romania, ended the first half of 2020 with a net loss of RON1.2 million, nearly twice the level reported in the year-earlier period, and with total revenue of RON3 million, double on the year, per ZF calculations based on data from its half-yra financial report.

Imocredit IFN, a mortgage lender part of financial group ImoFinance, specialized in real estate financing, ended the first half of 2020 with a net profit of RON1.4 million, more than double the RON640,454 level in the same period in 2019, and total revenue of RON4.6 million, up 58.4% on the year, per ZF calculations based on the half-year financial report.

Romania's liberal government is planning a new budget revision by the end of this year and the 2021 state budget will be approved by the future government, as the country holds parliamentary elections in December.

Furniture producer Elvila (ELV.RO), owned by businessman Viorel Catarama, ended the first half of 2020 with a net profit of RON3.45 million, compared with a loss of RON1.5 million in the same period last year.

Electrica (EL.RO), key player on the Romanian electricity distribution and supply market, as well as one of the most important players in the energy services sector, will benefit as of September 30, 2020, from the issuer’s market-making services provided by Wood & Company Financial Services (Czech Republic), leading investment bank in Emerging Europe.

Local company Safetech Innovations, specialized in providing cyber security solutions, plans to trade its shares on the alternative trading system AeRO of the Bucharest stock exchange until the end of 2020.

Romania's three-month ROBOR index, the interbank interest rate used as a reference to calculate variable interests for loans in lei, grew to 2.11% a year on Wednesday (September 30), which is the seventh consecutive day of growth.

Idea Bank, held by Poland’s Getin Holding Group, reported operating revenue of RON55.8 million in January-June 2020, up 11.7% on the year, and a net profit of RON5.6 million, almost double from RON3 million in the same period in 2019, per its financial report released Wednesday.

Holde Agri Invest, a Romanian company operating farmland, starts trading Thursday, October 1, on the the AeRO market of the Bucharest stock exchange under the ticker symbol HAI.

Shares of Romania's Fondul Proprietatea (FP.RO) generated a return of 283% since stock market listing in January 2011 to end-August 2020, and its total distribution yield has been constantly around 10% in the past 10 years.

Romania’s building materials market has increased on average 9% per year over the past years, reaching EUR4 billion in 2019, with market players significantly focusing on certain segments, per an analysis by strategic consultancy firm Roland Berger, conducted in March-August 2020.

Romania’s Competition Council is looking into a transaction whereby regional investment fund SIF Banat-Crişana SA (SIF1.RO) plans to acquire the company Doosan IMGB SA.

Winemaker Cramele Recas, one of the largest actors on the Romanian wine market and the largest wine exporter in the country, expects a turnover of RON215 million (over EUR44 million) in 2020, up 8% on the year, per company data.

Electronics retailer Altex has announced the opening of a new store, in Botosani, starting October 1, following an investment of over EUR500,000.

Swedish lender Hoist Finance AB has decided to enter the Romanian market and to operate as a branch, saying its activity starts in September 2020, according to Ziarul Financiar.