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Vodafone Romania reports lower service revenue

Wednesday, November 25, 2020

Vodafone Romania announces the key performance indicators for the quarter ended September 30th, 2020, as reported today by Vodafone Group Plc.Vodafone Romania continue to deliver good performance despite the challenging context in the quarter ended September 30th, 2020.   The Service Revenue is at EURO 195.1 million and continues to be stable on ...

Digi sees higher operating results

Wednesday, November 25, 2020

Romanian telecom group Digi Communications (DIGI), the biggest provider of fixed internet and cable TV services on the local market, reported total revenues of EUR 950 million in the first nine months of this year, up by 8.7% compared to the same period of 2019.  The growth was supported by a 12% increase in the total number of revenue generating units (RGUs), to 17.7 million (RGUs are services provided to clients, where one client can get one or ...

The fifth edition of the Top Employers 2020 in Romania

Wednesday, November 25, 2020

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Microsoft România, 2Checkout (now Verifone), Nobel, Softbinator Technologies, and Cornerstone Technologies are the most appreciated companies in Romania by their employees, according to “Top employers 2020”, ranking made by the Undelucram. ...

Telekom continues its promise "Telekonomy - Cut costs, not benefits"

Wednesday, November 25, 2020

Under the concept of "Telekonomy in all Romania", Telekom Romania launches the commercial offer dedicated to the winter holidays, through which the promise "Cut costs, not benefits" continues. Telekom is taking another important step in offering what Romanians want, significant discounts on telecommunications products and services, smart technology, and entertainment to spend quality time with the loved ...

PUPA Milano opens 3 mono-brand stores in Romania

Wednesday, November 25, 2020

PUPA, the Italian cosmetics brand present in Romania since 2015 through a network of six stores located in four cities, opens three new stores in the AFI Palace Cotroceni shopping center in Bucharest, AFI Palace Ploie?ti and AFI Palace Bra?ov, following a lease agreement intermediated by the real estate consulting company Cushman & Wakefield Echinox.   The opening of the three new stores was scheduled ...

Austrotherm has obtained State aids for a project worth EUR 3 million

Wednesday, November 25, 2020

REI Finance Advisors, one of the most dynamic consultancy companies specialized in attracting European funds and state aids for companies with activity in Romania, has successfully managed to get financing for a project worth 3 million euros for Austrotherm Romania, one of the biggest producers of construction materials in Romania. Earlier this year, Austrotherm decided to extend the production capacity of extruded polystyrene (XPS) at the Roman ...

MPF: Non-reimbursable financing extended for three years:

Wednesday, November 25, 2020

The Ministry of Public Finance (MPF) announced in September this year the extension by another 3 years of GD 807/2014, which grants up to 37,5 million euros for start-ups, SMEs and large companies, until 31.12.2023, with the session being open continuously. This means that projects can be submitted at any time and financing agreements will be issued up to 31.12.2023 with the possibility of implementing projects by ...

Acronis opens local office in Romania

Wednesday, November 25, 2020

Acronis, a global leader in cyber protection, today announced a new office opening in Bucharest. Located in Orhideea Towers — an office building in one of the most prestigious business areas of the city — and led by Cristian Manea, the Romanian team will support global Acronis development, raise the service level for local customers, and help the company to establish a deeper presence in the Balkans with ...

Luxuria Residence received ‘Best Upscale Project’ award offered by THE TIMES - Investing in Property

Wednesday, November 25, 2020

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Luxuria Residence, the first residential project in the country with BREEAM Excellent certification, won the ‘Best Upscale Residential Project’ award given by the prestigious real estate publication “THE TIMES - Investing in Property”. The award is a recognition of the unique housing concept, with integrated facilities, which Impact Developer & Contractor implements in the luxury compound from ...

Impact : 35% increase in sales revenue in the first 9 months of the year

Wednesday, November 18, 2020

Impact Developer & Contractor closed the first 9 months of 2020 with revenues from the homes sales with a total value of 135,349 million lei, increasing by 35% compared to the similar period of 2019. The evolution is due a 23% increase in sales volume, reaching a total of 258 units traded (apartments, plus parking lots and yard lands related to the package).   Of the 258 homes sold during this period, ...

TeraPlast Group builds new plant within 10M euro project

Wednesday, November 18, 2020

The TeraPlast Group will build a new factory within the TeraPlast Industrial Park in Saratel, northeastern Bistrita-Nasaud County, as part of a project with a total value of 9.8 million euro, according to a company statement submitted to the Bucharest Stock Exchange on Monday.For this project the company submitted an investment project under the State aid scheme, the amount of aid requested being 4.9 million euro.The products manufactured in the new ...

KJK Balkan Holding sells stake in group TeraPlast

Wednesday, November 18, 2020

Finnish investment fund KJK Balkan Holding reportedly carried out a private placement to sell part of its stake in the construction materials manufacturer TeraPlast Bistrita.   A total of 150 million Teraplast shares (8.6% of the company) changed hands on the Bucharest Stock Exchange's public offers section (POF) at RON 0.38, 11% under the Wednesday closing price. The total value of the transfers was RON 57 million (EUR ...

Telekom Romania reports key performance indicators for Q3 2020

Wednesday, November 18, 2020

Telekom Romania group has announced key performance indicators for the third quarter of 2020, ended September 30, 2020, as reported today by OTE Group, showing a stable development on revenues and the fourth consecutive quarter of YoY EBITDA growth. Consolidated revenues in Q3 2020 reached €244.1 mln., a slight growth of 0.2% compared to the same period in 2019, despite the fact that the effects of the Covid-19 pandemic were ...

Sphera reports 27.6% decrease in its consolidate sales as against 2019

Wednesday, November 18, 2020

Sphera Franchise Group (“Sphera”) reported consolidated sales of RON 502.4 million in the first nine months of the year, representing a 27,6% decrease compared to the same period last year. The Group’s consolidated sales in the third quarter amounted to RON 197.9 million, a decrease of 20.5% compared to the same period last year, but up by 86.2% compared to the second quarter of this year. The performance recorded in Q3 managed to reduce the negative ...

Opinion: Scalable products could increase Romania’s competitiveness abroad

Wednesday, November 18, 2020

While e-payments could lead to a significant shrinkage of the grey economy, the lack of financing is not Romanian companies’ only problem right now. The country needs to make a shift towards partnerships and create its “middle class of companies.”   According to Rudolf Vizental, CEO and co-founder of ROCA Investments, the current crisis has brought a change to the concept of globalisation as well as an ...

Four-fifths of Romanian companies are running on outdated resource planning solutions

Wednesday, November 18, 2020

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Eight out of ten Romanian companies use outdated and insufficiently digitized Enterprise Resource Planning (ERP) systems, show surveys carried out by management consultants.According to Horvath & Partners estimates based also on the annual statistics provided by the European Commission through the Digital Economy and Society Index - DESI 2020, the companies need modern ERP platforms, which, once implemented reduce operating costs and the average time ...

Unilever plans to boost its food production facilities in Romania

Wednesday, November 18, 2020

Anglo-Dutch group Unilever will increase the production and storage capacities at its factory in Ploiesti - north of Bucharest.The group thus aims to address the rising demand on the food market, according to James Simmons, managing director of Unilever South-Central Europe.   "The factory in Ploiesti produces some of the most popular products in our portfolio. Given the growing ...

Alro refinances USD 150 mln with Eximbank as loan arranger

Wednesday, November 18, 2020

The shareholders of Romanian aluminum producer Alro Slatina approved a USD 150 million loan agreement to refinance until 2023-2024 a credit facility that it has used for technological investments over the past five years.State-owned lender Eximbank would be the new lead creditor for Alro.   Thus, the aluminum producer rolls over a credit facility worth USD 120 mln maturing November 2023 and reschedules to ...

Orange took over Deutsche Telekom’s fixed operations in Romania

Wednesday, November 11, 2020

French group Orange, the telecom market leader in Romania, took over Deutsche Telekom’s fixed operations in the country. The transaction targets a 54% stake in Telekom Romania Communications and Deutsche Telekom’s fixed-mobile convergent subscriber base in Romania, Orange announced.   According to the official press release, the French group will pay EUR 268 million ...

More than 36,000 company deregistrations over Jan - Sep 2020

Wednesday, November 11, 2020

Company deregistrations were more than 56 pct down at 36,337 in the first nine months of 2020 from the same period of 2019, shows statistical data of the National Trade Register Office (ONRC).Bucharest tops the list with most deregistrations - 5,774 (almost 41 pct less YoY), followed by the counties of Cluj - 1,696 (-46.07 pct), Constanta - 1,597 (-33.68 pct), and Timis - 1,565 (-45.12 pct).Conversely, the counties with the fewest deregistered ...

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