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Romania's Alumil Rom Industry H1 net profit halves

Wednesday, August 16, 2017

Romanian aluminium processor and distributor Alumil Rom Industry [BSE:ALU] said its net profit more than halved to 230,954 lei ($303,600/224,700 euro) in the first six months of 2017, seenews.com informs. The company's operating profit dropped 38% to 592,012 lei through June, it said in an unaudited financial statement posted on the Bucharest Stock Exchange BVB website. Prices of raw materials increased 8% in the first half of ...

DeLonghi seeks 100 people for the Cluj factory

Wednesday, August 16, 2017

DeLonghi Romania, the local subsidiary of Italian manufacturer of home appliances, is looking to hire 108 electromechanical installers, according to AJOFM (County Agency for Employment) Cluj, romaniajournal.ro informs. The Italian company is now the largest exporter in Cluj County, manufacturing espressoes in the Tetarom III industrial park in Jucu from 2013. Last year the company registered a turnover of over RON 710 million ...

Fondul Proprietatea boosts H1 net profit

Wednesday, August 16, 2017

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Romanian property restitution fund Fondul Proprietatea [BSE:FP] posted a net profit of 709.3 million lei ($182 million/155 million euro) in the first half of 2017, up 31% on the year, seenews.com reports. "The main contribution to the profit recorded in the first six months of 2017 was the gross dividend income, which increased in 2017 due to the OMV Petrom [BSE:SNP] decision to distribute dividends in 2017 (106.8 million lei) and due to higher ...

Nuclearelectrica reported a growing half-yearly net profit by 77 times

Wednesday, August 16, 2017

In the 6 month period ended on June 30 2017, Societatea Nationala Nuclearelectrica (SNN) recorded a 77-fold increase in net profit to RON 133.78 million, considering that in the first half of 2016, the company posted a net profit of RON 1.74 million. half-year report informs quoted by romaniajournal.ro. The company also registered a 5.5 percent increase in electricity produced and delivered by Cernavoda NPP, given the significantly shorter planned ...

Ionut Voinea to take over the technical operations of UPC for CEE region

Wednesday, August 16, 2017

The technical director of UPC Romania, Ionut Voinea, was appointed VP Integration & Operations Central and Eastern Europe of the American group Liberty Global, which owns UPC Romania. Starting this month, Voinea will lead all the technical operations of Liberty Global from CEE, business-review.eu informs. He started his career in 2006 within the department Customer Care and had several management positions at UPC Romania, Hungary and CEE. In 2015, ...

MedLife’s turnover, up by 28 pc in H1 to EUR 301 M

Wednesday, August 16, 2017

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MedLife, Romania’s largest private healthcare services provider, ended the first six months of 2017 with a growing turnover, by 28.8 percent, to RON 301 million, as a financial report sent to the Bucharest Stock Exchange (BVB), informs, quoted by romaniajournal.ro. “This increase was mainly the result of significant growth in all of the Group’s business lines, led on a percentage basis by Stomatology (954 percent), ...

Raiffeisen Bank posts EUR 54 mln net profit in H1

Wednesday, August 16, 2017

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Raiffeisen Bank has reported an EUR 54 million net profit in the first half of 2017, up by 2 percent year-on-year, business-review.eu informs.  The total assets increased by 6 percent, to EUR 7.32 billion, from EUR 6.89 billion in June 2016. Loans went up by 3 percent year-on-year, while deposits increased by 14 percent. The costs of loan portfolio provisions decrease from EUR 26 million in June 2016 to EUR 20 million in ...

New members in Tarom’s Board of Directors

Wednesday, August 16, 2017

The shareholders of Romania’s flag carrier Tarom have appointed last June new members for the Board of Directors, romaniajournal.ro reports. Thus, Dragos Vasile Pelmus, Ion Laurentiu Voicu and Adriana Ionescu are replacing Andrei Dragos, Valentin Iordache and Radu Francis Florescu whose mandates have ceased. Moreover, the monthly gross remuneration has increased from RON 5,259 to RON 6,111. Sources say that all three ...

DefMin Tutuianu: the attack helicopters for the Army endowment will be made in Romania

Wednesday, August 9, 2017

National Defence Minister Adrian Tutuianu said Thursday that the attack helicopters for the Army endowment will be made in Romania, and a joint venture between Bell Helicopter and a subsidiary of Romarm will be established to this end. "We discussed the creation of a joint venture in Romania with Bell Helicopter and Romarm, through one of its subsidiaries, a company that would make the technology transfer and manufacture these helicopters necessary for the ...

First debate the draft law regarding the public-private partnership

Wednesday, August 9, 2017

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Prime Minister Mihai Tudose, in the opening of the Government meeting, has announced, on Friday, that they will debate the draft law regarding the public-private partnership. "This is very good news in what investments are concerned: we are going to debate the first draft of the law on public-private partnership, norms included, as a package, so that no one will get confused anymore," said Tudose. The Prime Minister asked the Minister for ...

J’info Tours estimates business of 80 million lei  in 2017

Wednesday, August 9, 2017

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Travel agency J’ínfo Tours estimates business up to 80 million lei this year, growing by 18% against the previous year, as a result of new destinations and the diversification of old products, the president of the company, Carmel Pavel told News.ro, pointing out that the tour operator counted this year on the corporate segment and trips to far away areas, starting from 2,000 euros. The company counts on the group travel segment, as the ...

B. Braun expands business at Baia Mare

Wednesday, August 9, 2017

The German group B. Braun, one of the world’s leading suppliers of healthcare products, with over EUR 6.4 billion turnover worldwide last year, is expanding its business in Romania, opening a new unit of the Avitum subsidiary in Baia Mare. B. Braun Avitum Division combines the supply of medical products and services concerning extracorporeal blood treatment. The group is present on the domestic market since 1999, through the B. Braun ...

Logicom buys Romanian IT distributor Gemini, with positive impact on its sales

Wednesday, August 9, 2017

Logicom Information Technology (LIT), which is established and distributes IT products in Romania, a subsidiary of Cypriot Logicom Group, signed a pre-sale purchase agreement for the acquisition of local IT distribution company Gemini SP, a press release informs quoted by romaniajournal.ro. Gemini SP, in operation since 1992, is a distributor of Hewlett Packard Inc, Hewlett Packard Enterprises, and DELL EMC. Sales from its three major vendors amounted ...

Tarom launches tender for three long-haul planes

Wednesday, August 9, 2017

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State-owned airline Tarom has launched the acquisition procedure for three long-haul airplanes, business-review.eu informs. In May, the transports minister, Razvan Cuc, announced that Tarom wants to acquire planes for flights to the US and China. Tarom said that the tree long-haul airplanes need to have two engines, “sisterships”, to be from the current generations of airplanes with the lowest possible cost of fuel/flight and/or per seat. ...

UK’s Kingfisher buys all Praktiker stores in Romania

Wednesday, August 9, 2017

London-based Kingfisher, one of Europe’s DIY retailer and interior design leaders, announced that it has successfully taken over 100 percent of Praktiker Romania’s shares for an undisclosed amount, romaniajournal.ro reads. The shares were acquired from the Turkish Susli family. “Romania has an increasingly attractive DIY and interior design market and we have always had the intention of increasing our market share on mid term. Subject ...

Paravion enters restructuring process

Wednesday, August 9, 2017

Paravion, the largest online travel agency in Romania, announced that it would start a restructuring process on Tuesday, August 8, amid instability in Turkey. The travel agency is also present in Turkey through the booking portal Bavul.com, which it took over from Turkcell in 2015. Bavul registered sales of EUR 23 million in 2016, but the socio-political context in Turkey and the devaluation of the Turkish lira dramatically ...

Cable operator UPC Romania's Q2 revenue grows 7.2% y/y

Wednesday, August 9, 2017

Cable operator UPC Romania, a unit of U.S.-based Liberty Global, said on Tuesday its second quarter revenues rose 7.2% year-on-year to 183 million lei ($47 million/40  million euro), seenews.com informs. The total number of the company's subscribers was 2.318 million at end-June, up 6.2% on the year, UPC Romania said in a press release. The number of Internet subscribers rose 8.1% to 553,700 during the three-month ...

MedLife acquired a 55% stake in Valdi Medica

Wednesday, August 9, 2017

MedLife, the largest private healthcare operator in Romania, has acquired a 55% stake in Valdi Medica, the owner of the Humanitas hospital in Cluj-Napoca, a city in Western Romania. This is the 16th acquisition MedLife makes, ...

Romania's Dedeman, AFI Europe cancel deal for Bucharest office buildings

Wednesday, August 9, 2017

Real estate developer AFI Europe and Romanian DIY retailer Dedeman have agreed to cancel the sale transaction of AFI Park office buildings 1-3 in the country's capital Bucharest, AFI Europe said quoted by seenews.com. "Following the announcement a few days from Dedeman of its intention not to advance with the purchase of office building AFI Park 4&5, which were actually not under a binding agreement, both parties have agreed to retreat and to ...

Kingfisher buys DIY retailer Praktiker from Omer Susli

Wednesday, August 9, 2017

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British DIY retailer Kingisher, which owns Brico Depot Romania, has taken over Praktiker retailer from Turkish businessman Omer Susli for an undisclosed sum, business-review.eu informs.. Adela Smeu, CEO of Brico Depot Romania, said the deal will allow the company to expand its market share on the back of a growing sector for DIY and interior design. “Pending the approval of the Competition Council, the strategic ...

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