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Study KeysFin: What happens with the Romanian businesses?

Wednesday, February 19, 2020

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Romania is close to the end of the post-crisis growth cycle, according to the latest data received from the Trade Registrar and interpreted by the analysts from KeysFin in the study’Trending Business;. Thus, in 2019, Romania has reached the performance of having the smallest number of insolvencies in history (6,5 thousand) respectively 27% lower than in 2018 and 67% than în 2009. Similarly, another record figure is that of active economic entitites (companies and ...

Romania's rate of newly-born enterprises in 2017 above EU average

Wednesday, February 19, 2020

The number of newly-born enterprises in the European Union accounted for 9.3 percent of the total number of active enterprises in 2017, a stable level compared to 2016, but increasing against a 9 percent rate in 2012, according to the data published by Eurostat on Monday.In 2017, the percentage of jobs generated by newly-born enterprises in the European Union stood at 2.4 percent of the total jobs, ranging from 5.2 percent in Portugal to 1.2 percent in Germany and ...

Market services provided to companies up 10.6pct in 2019

Wednesday, February 19, 2020

The turnover of the market services provided mainly to companies, increased by 10.6 per cent, in nominal terms, as gross series during the past year, against 2018, according to data released by the National Institute of Statistics (INS).According to the INS, the turnover of the market services provided mainly to the companies, gross series, increased, on the whole, by 10.6 per cent, over January 1 - December 31, 2019 compared to January 1 - December 31, 2018, in ...

Medicover and Synevo total revenue in Romania up by 26.9 percent

Wednesday, February 19, 2020

Active on the Romanian market through the network of Medicover healthcare clinics, Medicover and Pelican hospitals, and the Synevo laboratories, the private healthcare network Medicover reported its 2019 revenue at EUR 119.1 million in Romania, an 26.9% increase from the 2018 revenue (EUR 93.8 million). Romania ranks third in total group revenue, with a share of 14.1%, trailing only behind Germany and Poland, ahead of Medicover’s 11 other ...

Carlos Bernabe, the new general manager of Continental tire plant in Timisoara

Wednesday, February 19, 2020

Continental has announced the appointment of Carlos Bernabe as general manager of the tire plant in Timisoara, western Romania. Carlos Bernabe (aged 60) has been working in the Continental group for about 40 years and in management positions for 25 years. He graduated the Mechanical Engineering Faculty and has a master degree in Quality Management in France. Before taking over the GM position in Timisoara, Carlos Bernabe used to ...

Orange Romania reports 1.112 bln euro turnover, 10.941 mln customers in 2019

Wednesday, February 19, 2020

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Orange Romania has announced the 2019 annual results, saying that during October-December last year, it posted a turnover of EUR 299 million, up by 2.4% as against the same period in 2018. The total turnover for 2019 is EUR 1.112 billion. At December 31, 2019, Orange Romania offered mobile, fixed, and TV services for 10,941,000 customers, up by 1.7% as against Q4 2018, a press release informs. Fixed services continued their ...

Seven tech startups to watch in 2020

Wednesday, February 19, 2020

TypingDNA TypingDNA has developed proprietary artificial intelligence algorithms to authenticate users based on how they type. Through a simple training process of watching user keystrokes, TypingDNA can recognize further attempts from a specific user by matching them against their known account. Team of founders: Raul Popa, Cristian Tamas, Adrian ...

Farmaceutica Remedia signs sale of 52 pharmacies to Help Net for 8.5mln euros

Wednesday, February 19, 2020

Farmaceutica Remedia signed the contract for the sale of 52 pharmacies to Help Net Farma for the amount of 8.5 million euros, the transaction to be subjected to approval by the Competition Council, according to a report submitted on Wednesday to the Bucharest Stock Exchange.Through this new strategic acquisition, Help Net, part of the Phoenix group, is ranked 3rd on the local pharmaceutical retail market, with over 350 units nationwide and an ambitious development ...

Zitec ups turnover by a third in 2019

Wednesday, February 19, 2020

Zitec, one of the biggest Romanian IT & digital marketing companies, specialized in developing solutions and services for digital transformation, recorded a turnover of EUR 7 million in 2019, up by 34% compared to 2018. Over the last ten years, the company’s annual growth rate was 24% on average. In 2019, Zitec continued its strategic partnerships with clients that are undergoing a digital transformation process of ...

Number of companies to suspend operations in 2019, down over 22 percent

Wednesday, February 12, 2020

The number of companies having suspended operations in 2019 decreased by 22.16 percent compared to 2018, reaching 14,040, according to data published by the National Trade Register Office (ONRC).In December 2019, as many as 1,198 companies ceased their activity.Most companies that suspended their operations in 2019 were from Bucharest, namely 1,398, down by 26.3 percent compared to the previous year, the Capital being followed by the counties of Cluj (722 companies, ...

Study: The cost to recruit a single IT developer in Romania

Wednesday, February 12, 2020

Software Development Academy (SDA), an IT programming school for adults in the Central and Eastern Europe, estimates that companies in Romania invest a minimum 43,665 lei into the process of recruiting and onboarding a single IT specialist. The cost is expected to grow in the coming years, as the deficit of IT professionals will deepen further. SDA predicts that as by the end of 2020, the deficit of programmers and software testers in Romania will reach between 40,000 and 50,000 ...

OMV Petrom net profit down 11 percent in 2019, to RON 3.6 billion

Wednesday, February 12, 2020

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OMV Petrom registered in 2019 consolidated sales of RON 25.48 billion, an increase of 13 percent compared to 2018, driven by higher sales volumes and prices for natural gas, higher sales volumes for petroleum products and higher prices for electricity, partially compensated by lower selling prices for petroleum products. Downstream Oil represented 72 percent of total consolidated sales, Downstream Gas accounted for 26 percent and Upstream for approximately 2 percent. The operating ...

VTEX to invest USD 4 M in Romania

Wednesday, February 12, 2020

VTEX international Cloud Commerce Platform, operating in 28 countries and which entered the Romanian market last year, intends to invest USD 4 million in its business in Romania, in the next 2 years. VTEX has allotted USD 1.5 M for investments this year and another USD 2.5 M in 2021. At the same time, the VTEX office based in Romania will be the company’s expansion center in Central and Eastern Europe. “The investments this year will help boost the ...

Vodafone Romania reports 2019 Q3 financial results, total revenue up by 2%

Wednesday, February 12, 2020

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Vodafone Romania has announced the key performance indicators for the quarter ended December 31st, 2019, as reported today by Vodafone Group Plc. Following the acquisition of UPC Romania starting with 31st of July ...

Hammerer Aluminum Industries expands its presence in Romania

Wednesday, February 12, 2020

Norwegian company Norsk Hydro, one of the largest producers of aluminum worldwide, completed the sale of its Romanian factory to the Hammerer Aluminum Industries (HAI) of ...

Restaurant chain City Grill reports 13% higher sales in 2019

Wednesday, February 12, 2020

Romanian restaurant chain City Grill increased its turnover by 13% in 2019, to RON 187 (some EUR 39 mln), driven by investments in optimizing and improving the customer experience, which have led to a higher degree of loyalty and a higher frequency of visits. Over 11,000 customers are served each day in the group’s restaurants, 25% of whom are recurring customers who use the Out4Food loyalty app, according to the group’s representatives. Moreover, the number of ...

Michelin Romania to recruit over 300 people this year

Wednesday, February 12, 2020

Michelin Romania, part of the French Michelin group, wants to recruit over 300 people this year for all the activities managed locally, Ziarul ...

Drug store chain Dr. Max has rebranded under its own label all the Arta and Punkt pharmacies

Wednesday, February 12, 2020

International drug store chain Dr. Max has rebranded under its own label all the Arta and Punkt pharmacies it owns in Romania, and a small part of the Sensiblu chain as well - 418 units in total, Economica.netreported. The Dr. Max brand thus set foot in 93 Romanian cities as of February 10. The Sensiblu brand is still present in the market ...

Ara Shoes would close one of its two factories in Romania

Wednesday, February 12, 2020

German group Ara Shoes announced that it would close one of its two factories in Romania and cut the workforce at its second plant, in April this year. The factory to be closed, located in Simleul Silvaniei (Salaj county), employs 350-400 people. The second factory, located in Valea Lui Mihai (Bihor county), has 600-650 employees. The decision was prompted by the repeated hikes in the minimum wage in ...

Apex Alliance group wants to sell the Hilton Garden Inn hotel in the Old Town area

Wednesday, February 12, 2020

Lithuanian Apex Alliance group, one of the most active hotel developers in Bucharest over the last two years, is close to wrapping up the due diligence process for the sale of the Hilton Garden Inn hotel in the Old Town area, next to Romania’s National Bank (BNR) headquarters. The 210-room hotel, which is in its third year of operation, could be sold for around EUR 40 million to a “large international hotel company,” according ...

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