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MARKS & SPENCER ROMANIA CONFIRMS AGREEMENT WITH VOICI LA MODE GROUP

Wednesday, May 24, 2017

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Voici La Mode Group to purchase three M&S owned stores in Romania Remaining three M&S owned stores in Romania will close this autumn Marks & Spencer (M&S) confirms it has signed an agreement with its long-term franchise partner Voici La Mode Group, for the purchase of three M&S owned stores in Romania and to be the ...

Vodafone Romania grows FY revenues 2.7%

Wednesday, May 24, 2017

Vodafone Romania saw its revenues for the fiscal year to 31 March increase 2.7 percent in organic terms to EUR 707.2 million. In the final quarter of the year, service revenue growth slowed to 0.4 percent, to EUR 175 million, telecompaper.com reports. The operator had a total of 8.744 million mobile users at the end of March, down by 19,000 from the end of December. ARPU was EUR 6.0 in the final quarter of the year, down from EUR 6.2 a year ...

Romcarton gets 23.4 mln euro BCR loan for new factory

Wednesday, May 24, 2017

Banca Comerciala Romana (BCR) said on Wednesday it is providing a 23.4 million euro ($25.8 million) loan to cardboard packaging maker Romcarton for construction of a new factory, seenews.com reports. Romcarton, a member of France's Rossmann group, plans to use the proceeds of loan to build a new factory in Popesti-Leordeni, close to capital Bucharest, BCR said in a statement. The construction of the new production unit, which ...

AFI Europe Romania's Q1 net operating income rises

Wednesday, May 24, 2017

Real estate developer AFI Europe Romania said on Tuesday its net operating income rose 12.7% on the year to 12 million euro ($13.5 million) in the first three months of the year, seenews.com informs. AFI Europe Romania is currently developing 80,000 sqm of gross leasable commercial areas, it said in a press release. "The excellent financial results and the continuous improvement in the Romanian economy gives us the opportunity ...

Study Coface: the number of companies who cultivate cereals and have income of over 1 million euro has tripled

Wednesday, May 17, 2017

The number of companies with income higher than 1 million euro out of the cultivation of cereals grew constantly, from 215 in 2008 to 679 in 2015, the share of the market share among them growing from 60% (in 2008) to almost 70% (in 2015) a Coface study shows. According to the financial statements placed at the ministry of public finances for 2015, the number of companies which work in the sector of cereals cultivation (CAEN 0111)is 8,056 out of which ...

Vodafone Romania turnover up by 2.7 percent to over EUR 707.2 mln in FY ending March 2017

Wednesday, May 17, 2017

Vodafone Romania posted a turnover of EUR 707.2 million,up by 2.7 percent year-on-year, in the fiscal year that eneded in March 2017, business-review.eu informs. The company also attracted 320,000 new subscriptions. At the end of the year Vodafone Romania, the second largest local operator of mobile communications counted 9,441,063 users, up by 320,918 year-on-year. Out of the total, 8,744,061 ...

WIZZ AIR CELEBRATES ITS 9TH ANNIVERSARY IN CLUJ: 45% INCREASE YEAR ON YEAR SINCE THE BEGINNING OF 2017

Wednesday, May 17, 2017

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 Wizz Air, the largest low-cost airline in Central and Eastern Europe and Romania’s largest airline, celebrates 9 years of its Cluj-Napoca base and shares the remarkable achievements since the start of its operations at Avram Iancu International Airport, in 2006, the company reports în a press release sent to ACTMedia. Wizz Air, the pioneer of high quality and low-fares air travel in Cluj-Napoca market since 2006, continues expanding ...

Alro registered an adjusted net profit of RON 93 million in Q1 2017

Wednesday, May 17, 2017

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Turnover of RON 634 million, compared to RON 564 million in Q1 2016, up by 12% EBIT of RON 104 million, 4.6 times higher than an EBIT of RON 23 million in Q1 2016 Adjusted net profit of RON 93 million, 2.3 times higher than the one recorded in Q1 2016 Net profit of RON 78 million, compared to RON 27 million in Q1 ...

Antibiotice Iasi registered exports worth 7.1 million dollars in Q1 2017

Wednesday, May 17, 2017

Antibiotice Iasi registered sales on foreign markets worth 7.1 million dollars in the first quarter of this year, 21 pct higher than in the similar period of 2016, according to data provided to the Bucharest Stock Exchange. The exports' rise was mainly due ...

Aerostar Bacau closed Q1 with a 11.06 million lei net profit

Wednesday, May 17, 2017

Aerostar Bacau (aeronautics and defence systems company - ed.n.) closed this year's first semestre with a 11.06 million lei net profit, down by 33.71 pct against the one in the last year's similar period, according to data remitted to the Bucharest Stock ...

Telekom Romania revenues down 1.5% to EUR 229.8 mln in Q1

Wednesday, May 17, 2017

Revenues of Telekom Romania's fixed and mobile units were down 1.5 percent to EUR 229.8 million in Q1, reflecting a solid performance in fixed, driven by the company’s fixed-mobile convergent solution ...

FF Group Romania opens sports store in Baneasa Shopping City following EUR 700,000 investment

Wednesday, May 17, 2017

FF Group Romania has opened a premium multi-brand sports store in Baneasa Shopping City following an EUR 700,000 investment, stocks not included, the company has announced quoted by business-review.eu. Sport Loft is the company’s first store of this kind on the local market. The store covers some 600 sqm and its product portfolio includes brands such as Nike, Jordan, Adidas, Asics, New Balance, Under Armor, Saucony, Mizuno and Reebook. The store ...

German automotive group SHW plans to launch new production unit in Romania

Wednesday, May 17, 2017

German automotive group SHW said on Wednesday it plans to set up a pumps and engine production unit in Romania by the end of 2018, seenews.com informs. "The company is planning high capital expenditure with an estimated range of 29 million - 32 million euro ($31.4 million - 34.8 million) for the fiscal year 2017 and 27 million euro to 30 million euro for the fiscal year 2018 in connection with the development of new markets in China and North America ...

Ford Trucks launches its biggest Europe HQ in Romania

Wednesday, May 10, 2017

Ford Trucks has launched its headquarters in Romania, which represents the biggest office that the company has in Europe, business-review.eu informs. The building is located on the A1 highway, at km 13.2, and from here Ford Trucks will provide a wide array of services such as sales, post-sale operations and spare parts deliveries. The HQ of Ford Trucks was launched following a rebranding that required an investment of over EUR 200,000, concluded with a renovated ...

EY: Banking, real estate deals to dominate Romanian 2017 M&A market

Wednesday, May 10, 2017

Romania's market of mergers and acquisitions (M&A) is expected to be dominated by banking and real estate deals in 2017, much like last year, global consultancy Ernst&Young (EY) said on Tuesday, quoted by seenews.com. In real estate investment, interest is mainly directed at shopping centers and offices, through real estate investment funds, but there are signs of shy revival on the residential side, EY said in a press release. Medical services area is also expected to ...

Telekom official proposed as Romania’s new ANCOM head

Wednesday, May 10, 2017

The Romanian government has proposed Adrian Dita as the new head of the telecom regulator ANCOM. Dita was up to now public affairs director at Telekom Romania, one of the largest telecom players in the country in which the state still holds a minority stake, business-review.eu reads. The appointment of Dita at the help of ANCOM will have to be voted in Parliament. He is set to ...

Softelligence to hire 100 by end-2018

Wednesday, May 10, 2017

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Romanian business software company Softelligence said on Tuesday it plans to hire 100 developers by the end of next year in its software engineering office in Craiova, seenews.com reports. Softelligence plans to hire both experienced IT specialists and entry level programmers, the company said in a press release. The Softelligence Engineering office in Craiova, in southern Romania, was inaugurated at the beginning of this year and works on projects for customers from the UK, ...

UPC Romania Q1 revenues up 6 percent over growing customer base

Wednesday, May 10, 2017

The revenues of telecom operator UPC Romania went up by around 6 percent to RON 168.6 million in the first quarter of this year versus the same period of last year, on the back of a growing customer base and expansion of the coverage across Romania, business-review.eu reads. UPC said its coverage of households gained 1o percent to 2.88 million units, while the number of subscription was up by 6.5 percent to 2.29 million. The company had 1.29 million customers at the end of ...

Through "IMM INVEST Romania" programme, SME's will receive support to access financing through 50 pct state guarantees

Wednesday, May 10, 2017

The Government has approved on Friday, through a memorandum, the "IMM INVEST Romania" programme, granting support to the small and medium-sized enterprises in order to access financing by the State guaranteeing 50 pct of investment loans and/or credit lines for working capital, announced Alina Petrescu, spokesperson for the ...

Insolvency in Q1 2017 was down 16.15 pct from the similar period of 2016

Wednesday, May 3, 2017

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The number of trading companies that initiated insolvency procedures in Romania in Q1 2017 was down 16.15 pct from the similar period of the year before to 1,932, shows official data published on the website of the National Trade Register Office (ONRC). Most ...

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