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Alro reports upbeat numbers for quarter

Wednesday, May 27, 2015

Alro, an aluminum producer in Central and Eastern Europe, has reported a 20 percent increase in sales for the first quarter of 2015 compared with the same period in 2014, to Romanian Leu (RON) 598 million (US $154 million). In a press release, the company also reported improved operating results for 2015’s first quarter, which was tempered by the strong appreciation of the U.S. dollar against the Romania’s currency, inflating debt values ...

Deloitte: Romania can become attractive for investment funds

Wednesday, May 27, 2015

Romania can become attractive for investment funds, especially in sectors such as production and IT, due to stable macro-economic indicators and activity of drawing capital anticipated for the following 12 months, said Hein van Dam, a Deloitte Romania partner, during the unveiling of the latest survey of the company. "The activity of investment funds present in Romania was relatively low compared to other countries in the region. However, due to stable ...

Lemet opened a new Lem’s store in Bucharest

Wednesday, May 27, 2015

Lemet, one of the largest furniture manufacturers nationwide, opened in mid-May a new Lem’s store in Bucharest. The store is part of the Mega Mall shopping center and covers 1400 sqm of showroom. The investment required to open Lem’s Bucharest Mega Mall is RON 1.3 million (EUR 290,000), according to the company’s representatives.Lem’s is currently present in Bucharest with six stores, out of which two franchises and the total showroom area ...

Ariston Thermo - Annual Results 2014

Wednesday, May 27, 2015

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Revenues increased to € 1,342 million. EBITDA adjusted to € 154 million, +9.2%. EBIT comes in at € 110 million, +11.1%. Net profits of € 73 million, +17.7%. Positive Net Financial Position at € ...

Number of companies going to banks for loans has declined in 2014

Wednesday, May 27, 2015

The number of companies going to banks for loans has declined a lot, Chairman of the National Council of Privately-Owned SMEs (CNIPMMR) Ovidiu Nicolescu said Friday. He added that the funding of small and medium-sized enterprises (SMEs) in Romania leaves a lot to be desired. 'The percentage of self-funding companies has surged 93 per cent in 2014, while the number of companies going to banks plummeted to 22 per cent, according to the interviews of more than ...

Douglas Romania expands its network to 18 stores, opens new store in Mega Mall

Wednesday, May 27, 2015

Douglas Romania, a subsidiary of the retailer Douglas Holding, reaches a total of 18 stores in Romania by opening its new store in the Mega Mall shopping center. The perfumery in Mega Mall is the sixth Douglas store in Bucharest, the brand having stores in Unirea Shopping Center, Baneasa Shopping City, Promenada, Sun Plaza, AFI Palace Cotroceni, and the 18th in the country. The new store covers an area of nearly 300 sqm, the ...

AFI Europe Romania operating income up 8.1 pct in Q1

Wednesday, May 27, 2015

AFI Europe Romania announced on Wednesday the financial results for Q1, period which generated a net operating income of nearly EUR 9 million, representing an 8.1 percent increase compared to Q1 2014. The increase was driven mostly by the two new office buildings AFI Park 2 and AFI Park 3. AFI Palace Cotroceni in Bucharest, the largest and most important asset of AFI Europe Romania, generated in Q1 2015 a net operating income of EUR 7.4 million, ...

Modpak System opened a factory in the Ploiesti Industrial Park

Wednesday, May 27, 2015

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A leading Romanian company specialising in industrial packaging solutions on Wednesday opened a factory located in the Ploiesti Industrial Park on an investment of 1 million euro. The start-up will meet the demand of the entire southern Romania. In a speech to the opening ceremony, Modpak System CEO Valentin Malaescu said works on the new factory in the Ploesti Industrial Park started last November and led to doubling the production capacity of the company ...

Average annual business figure of IT&C sector reaches 2.8 billion euros

Wednesday, May 20, 2015

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The annual business registered in the IT&C sector in Romania has reached an average of 2.8 billion euros, but specialists in the field say it could reach 10 billion euros, said Aurel Sorin Encutescu, the secretary of state in the Ministry of Economy, Trade and Tourism (MECT), at the regional summit on cyber security held at Parliament Palace. In 2014, Romania had over 64,000 IT specialists, being a European leader for the number of per capita employees in the ...

IFC Partners with Banca Comerciala Romana, Helping Romanian Companies Boost Trade

Wednesday, May 20, 2015

IFC, a member of the World Bank Group, and Banca Comerciala Romana (BCR) are joining forces to expand the availability of trade finance for importers and exporters in Romania to help spur economic growth and create jobs. IFC has extended a $50 million credit trade line to BCR under the Global Trade Finance Program (GTFP), which supports trade in emerging markets by providing partial or full guarantees for individual trade transactions backed by IFC’s ...

German food giant invests in Bulgaria and Romania

Wednesday, May 20, 2015

Yemeksepeti, which was purchased by Delivery Hero, is starting investments in Bulgaria and Romania. Delivery Hero, one of the largest online food ordering companies in the world, recently purchased the Turkish online food ordering website, Yemeksepeti. With this new purchase, Yemeksepeti is currently active in 10 countries including Turkey.With investments in bgmenu.com in Bulgaria and quicky.ro and oliviera.ro in Romania, Yemeksepeti is set to become the industry ...

Vodafone Romania: revenues from services down by 6.7% in 2014/2015

Wednesday, May 20, 2015

Vodafone Romania recorded, in fiscal year 2014/2015, revenues from services of 656.6 million euros, down by 6.7% from the previous year, and data consumption higher by 75.6%, the company informs by citing the results reported on Tuesday by Vodafone Group Plc. "If we exclude the impact of the decrease in termination tariffs, Vodafone Romania's revenues from services, for the entire fiscal year 2014/2015, increased by 7.2%, also on organic basis," reads ...

Accor plans to double local hotel network in five years’ time

Wednesday, May 20, 2015

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French hotel group Accor is preparing to kick-start a new development phase on the local market, Laurent Picheral , CEO of hotel services Germany, Poland and Central Europe with Accor Group, tells BR. After Polish hotel group Orbis, of which Accor owns 53 percent, took over the management of the Accor hotels in Central and Eastern Europe, the French group is now preparing to enter a new development phase in ...

Coca-Cola sales in Romania up in Q1

Wednesday, May 20, 2015

Coca-Cola sales volume in Romania increased at a high single-digit pace in the first quarter, reversing the decline recorded in the same period last year, due to the good performance achieved in terms of entire portfolio. “There were good performances at portfolio level, supported by the organized distribution channel as well as by the launch of the new type of mineral water packaging of 1.25 ...

Telekom Romania's marketing director Bursuc leaves the group

Wednesday, May 20, 2015

Telekom Romania's marketing director for the consumer segment, Dana Bursuc, left the group, writes local paper Ziarul Financiar citing market sources. Group representatives have confirmed the departure without giving details. Bursuc was recruited by mobile operator Cosmote Romania, now named Telekom Romania Mobile Communications and part of Telekom Romania, in 2006 for the position of marketing communication manager. She previously worked for Kraft Foods Group, Beiersdorf, ...

Aegon Romania reports 96 pct increase in underwritings in Q1

Wednesday, May 20, 2015

Aegon Romania registered in the first quarter of 2015 a 96 percent increase in gross written premiums compared to the same period last year, to the level of RON 14.51 million (EUR 3.3 million). Q1 results come after a period in which the company maintained the growth rate of new policy sales and completed Eureko portfolio integration. Globally, Aegon recorded in the first quarter of 2015 revenues worth ...

Sanex implements EUR 1.4 mln project co-funded by the Norwegian Gov’t

Wednesday, May 20, 2015

Ceramic tiles producer Sanex runs as of March 2015 a project worth almost EUR 1.4 million, co-funded by the Norwegian Government. Thus, Sanex, part of the Lasselsberger group, the leading ceramic tiles producer in Romania, is undergoing the project “Greener production and management processes in the ceramic tiles industry in Romania – Green industry – Romania”, co-financed through the 2009-2014 ...

Staples Expands Presence in South Africa and Romania

Wednesday, May 20, 2015

Staples, Inc., one of the largest internet retailers in the world, today announced a ...

GEFCO Romania reports EUR 52 mln in turnover in 2014

Wednesday, May 20, 2015

GEFCO Romania reported a turnover of EUR 52 million for 2014, an increase of 10 percent compared to the previous year and a 10 times growth compared to its first year of activity. Since its setup in 2005, the local subsidiary of the GEFCO Group has constantly grown. After one year of presence in Romania, the company managed to double its turnover – from EUR 5.2 million in 2006 to EUR 11.9 million in 2007 – and ...

Telekom Romania revenues amount to EUR 241 mln in Q1, down 7.7 pct

Wednesday, May 20, 2015

Telekom revenues in Romania decreased by 7.7 percent in the first quarter, from EUR 261 million a year ago to EUR 241 million, the decrease being caused mainly by the reduction of call termination fees applied in the second quarter of 2014,according to data released by Deutsche Telekom. EBITDA decreased by 17.7 percent, from EUR 66 million in the same period of 2014 to ...

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