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Vodafone Romania: Total revenues grew by 4.8% in the quarter 3

Wednesday, November 14, 2018

Vodafone Romania announced the key performance indicators for the quarter ended September 30th, 2018, as reported on Tuesday by Vodafone Group Plc. Vodafone Romania had 9,730,487 total customers at September 30th, 2018, remaining flat compared to the same period of last year. Out of the total number of customers, 8,990,849 were mobile customers. Vodafone Romania’s mobile ARPU is maintained at Euro 6.1 over the three months ...

Oltchim posts record profit in insolvency just before the end of privatization

Wednesday, November 14, 2018

Romanian state-own fertilizers producer Oltchim posted a net profit of RON 84 million (EUR 18 million) for the first nine months of this year, a record level since the opening of insolvency procedure, on higher turnover, according to financial data released on Tuesday. In January-September 2017, the company registered a net profit of RON 39.9 million. The turnover of Oltchim increased by 16.4 ...

ING Bank Romania posts 35 percent growth in 9-month net profit

Wednesday, November 14, 2018

ING Bank Romania ended the first 9 months of 2018 with a net profit of RON 529 million, a 35 percent growth compared to the same period of last year. The bank has reached 1.25 million active customers and a market share of almost 10 percent for loans, http://business-review.eu reports. The number of active customers increased by 14 percent (155,000) in the past 12 months, having reached 1.25 million. 126,000 ...

TeraPlast Group receives EUR 6.8 mln State Aid to complete three EUR 15 mln investments in Romania

Wednesday, November 14, 2018

Construction materials manufacturer TeraPlast Group will start implementing 3 investment projects totaling EUR 15 million, of which EUR 6.8 million are coming from State Aid, after the Ministry of Finance approved their financing, http://business-review.eu said. The implementation of the three projects submitted by TeraPlast, Depaco and TeraGlass will begin immediately. ...

Impact reports a 34 pct lower income in the first three quarters

Wednesday, November 14, 2018

Impact Developer & Contractor reports that its income from residential property sales decreased in the first nine months of this year by 34.21 percent to RON 61.70 million, from RON 93.79 million in the same period of last year, http://business-review.eu/ informs. The company saw its sales policy for the Greenfield neighborhood take a hit, given that access to the complex is made difficult at peak times by ...

 Bosch washing machines to be made in Romania

Wednesday, November 14, 2018

Household Appliance Producer BSH Hausgeräte, a company part of the Bosch German group, will invest about EUR 110 million in a new washing machine factory in Simeria, as the building permit was signed on Monday, http://business-review.eu informs. ”The investment will generate over 700 local jobs,” said the mayor of Simeria, Emil Risteiu, according ...

APRIL: our costs increased very much, which means that dairy products will get more expensive

Wednesday, November 14, 2018

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The dairy products will get more expensive due to the increase of the transport costs,lack of road infrastructure and the increase of the minimum salary,which anyway was not budgeted for 2018,announced on Friday the chairman of the Employers’ Association in the Milk Industry (APRIL) Dorin Cojocaru, without mentioning a certain percentage.He sent a message to those who want to invest now in the milk industry: ‘think well and analyse the market,depending ...

Sanjeev Gupta’s Liberty Steel pledges EUR 300 mln investment in Galati Steelworks

Wednesday, November 14, 2018

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British industrialist Sanjeev Gupta met with several government members and pledged to invest EUR 300 million to upgrade the Galati steelworks plant, which he recently bought through Liberty Steel in a transaction expected to be completed in early 2019. Gupta also pledged to create programmes to review investing into developing new industrial skills among young people to fuel economic growth, particularly in manufacturing heartlands, such as the Galati ...

Aerostar Bacau reports double net profit after first 9 months

Wednesday, November 14, 2018

Aerostar Bacau has reported a doubling of the net profit in the first 9 months of this year, to 59.82 million lei, as opposed to 26.98 million lei in the similar period of last year, according to a report sent by the company to the Bucharest Stock Exchange.In the period of January-September, the company recorded a turnover growth of 6.4 percent, from 223.79 million lei in the first 9 months of the previous year, to 238.16 million lei. Export sales were cut to ...

Telekom Romania reports performance indicators for Q3 2018

Wednesday, November 14, 2018

Telekom Romania group announced key performance indicators in the third quarter of 2018, ended September 30, 2018, as reported today by OTE Group. Consolidated revenues of Telekom Romania group in Q3 2018 reached EUR 226.7 million, down by 5.3% yoy, while adjusted EBITDA amounted to EUR 41.2 million, down by 4.2% yoy. Mobile revenues were up by 6.1% yoy to EUR 117.9 million in Q3 2018, largely reflecting higher revenues from ...

MedLife three-quarter turnover up 32 pct YoY

Wednesday, November 14, 2018

Private health service provider MedLife closed the first 9 months of 2018 with a pro forma turnover of 606.16 million lei, up 32 percent YoY; for 2019 the group management expects the figure to exceed 200 million euro, the company said in a release on Thursday.Based on an exchange rate of 4.6617 lei / euro, MedLife's three-quarter turnover amounts to approximately 130 million euro.The clinics and hospitals were the most dynamic, with these business ...

Fujitsu Siemens Gmbh is the Austrian company DNA prosecutors claim bribed Calin Popescu Tariceanu in the Microsoft licensing case

Wednesday, November 14, 2018

Calin Popescu Tariceanu’s fresh bribery acusations are related to the Austrian company Fujitsu Siemens Computers, which was a distributor of Microsoft licenses, according ...

Airbus signs 15-year collaboration contract with IAR

Wednesday, November 14, 2018

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French group Airbus and IAR Ghimbav signed in Paris the definitive contract for an exclusive collaboration for a period of 15 years, a document whose principles were established in an initial agreement on August 2017, in Bucharest. Under the Definitive Collaboration Agreement, the IAR is the lead contractor for the H215M for any future order from the Romanian Defence Ministry aimed at replacing the aging fleet. Airbus was dissatisfied from time to time ...

Ford Romania seeking 1,700 new employees around Craiova

Wednesday, November 14, 2018

The management team of Ford Romania will meet with mayors of several localities in Dolj county, on a radius of up to 35 km from Craiova, to inform them that they will soon begin a new hiring campaign for the production of a new model, seeking a total of 1,700 new employees for the Craiova plant. Ford’s Craiova factory currently makes the EcoSport SUV, and the company announced in May that it will start working on a new model in ...

Microsoft Romania CEO: 80 percent of companies are having trouble with workforce

Wednesday, November 7, 2018

Microsoft’s Business Summit opened with the speech of Philippe Rogge, vice-president for the CEE region, who talked about the future of business in Romania and in the world, http://business-review.eu reports. Digitization and Artificial Intelligence are the determining pillars of change and it is very important for everybody to follow and adopt the changes if they are not to be left behind. The use of ...

Competition Council approves transaction between Unilever and Betty Ice

Wednesday, November 7, 2018

Unilever announced that the Romanian Competition Council approved the agreement for Betty Ice on the basis of its commitments, making Betty Ice became the newest member of the Unilever family. The Betty Ice Company was founded in 1994 by Romanian entrepreneur Vasile Armenean and has become the most important local ice cream producer in Romania with a total turnover of EUR 30 ...

Dr. Leahu Clinics to invest EUR 10 mln in network expansion over the next three years

Wednesday, November 7, 2018

Doctor Ionut Leahu, a dental implant specialist and owner of Dr. Leahu Clinics, is planning to allocate over EUR 10 million over the next three years to extend his clinic network in the country. The investment will target the opening of 20 new clinics and the purchase of the necessary equipment stock, but it could double if we take into account the acquisitions of ...

Insolvencies fall by 5.56pct, Jan.-Sept. 2018; suspensions, dissolutions up 13.11pct, 26.49pct

Wednesday, November 7, 2018

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The number of firms and individuals facing insolvency fell by 5.56pct in the first nine months of this year compared with the similar period of 2017, to 6,083, according to data posted on the website of the National Companies Register Office (ONRC).Most of them are in Bucharest, 1,167, down 16.22pct over the same period of 2017. The next largest such insolvencies were reported for the counties of Bihor - 414 insolvencies (+ 17.95pct), Timis - 323 (+ 21.89pct), ...

Deloitte Consulting: Romanian companies are too shy in investing abroad

Wednesday, November 7, 2018

The Romanian companies are rather shy on going international, including state owned companies, and they should take advantage of opportunities like the sale of the port of Giurgiulesti, Moldova’s main gate for oil products, Razvan Nicolescu, a former Energy minister and currently energy consultant at Deloitte said at BR’s Foreign Investors Summit. “Romanian companies are rather shy on going international, including state owned ...

Food & beverages, entertainment to become the new anchors of retail centers

Wednesday, November 7, 2018

There are two new changes happening on the retail market. This is the second consecutive year without a new project in Bucharest and the anchor of a retail project is no longer the hypermarket, but the F&B (food and beverages) and entertainment areas. According to real estate consultant JLL, the total stock of modern retail space reached approximately 3.1 million sqm, resulting in a density of 151 sqm/1,000 inhabitants and more than 1.1 million sqm ...

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