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Telekom Romania posts decreasing revenues to 216.6 mln euro in Q1

Wednesday, May 15, 2019

The consolidated revenues of Telekom Romania Group decreased by 4.4pct in the first quarter of the year, compared to the same period in 2018, to 216.6 million euro, according to the company's financial data, published on Thursday.Earnings before interest, tax, depreciation and amortization (EBITDA) decreased by 20.8pct to 26.2 million euro over the reference period.Telekom Romania's fixed service revenues dropped 12.2pct to 57.8 million euro, and voice ...

Deloitte 2019 Global Human Capital Trend report for Romania:Leaders need to understand new technologies

Wednesday, May 15, 2019

The most important things for Romanian employers are lifelong learning, developing leaders and improving employee experience, according to Deloitte 2019 Global Human Capital Trend report for Romania.  “The main concerns of Romanian employers are lifelong learning (90 percent of respondents) and developing leaders (84 percent), followed by improving the employee experience (78 percent). These results reflect the current challenges of the ...

Newly-established companies running on foreign capital, up 9.1pct in Q1; share capital, up 27.3pct

Wednesday, May 8, 2019

The number of newly-established companies running on foreign capital increased in the first quarter of 2019 by 9.1%, compared with the same period of the previous year, to 1,496 units, according to data centralized by the National Trade Register Office (ONRC).The 1,496 new companies had a subscribed share capital of 3.941 million dollars, up 27.3% over the January-March 2018 period.According to the cited source, between 1991 and 2018, 221,334 companies ...

În 2018, Zentiva Romania increased production capacity by 12.5%

Wednesday, May 8, 2019

Zentiva Romania has increased its production capacity by 12.5% at the factory in Bucharest last year, delivering over 100 million commercial units, a press release of the company announced. In 2018, the company reported a turnover of RON 461.4 million and a profit of RON 262.6 million, higher than the one obtained in 2017 due to Zentiva’s split from Sanofi. Zentiva also invested RON 27.72 million in the production and ...

Medicover Romania posts 41.2 pct revenue growth in Q1 2019

Wednesday, May 8, 2019

Swedish private healthcare provider Medicover, which operates in Romania through the Medicover clinic and Synevo laboratory networks, posted a global revenue growth of 23.3 percent in the first quarter of 2019 compared to the first quarter of the previous year, to EUR 199.7 million.  At group level, in Q1 2019, the Medical Services Division recorded a 28.1 percent revenue growth to EUR 102.9 million and 1.2 million subscriptions, a 14.5 percent ...

Romanian companies become more indebted and lose cash

Wednesday, May 8, 2019

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Romanian companies have borrowed more money in March despite higher interest rates while their bank deposits declined, official data show. Compared to February, the bank loans granted to individuals and corporate clients in Romania rose by 1.2 percent in March up to RON 254.9 billion (EUR 53.6 billion), central bank data show. Both households and companies borrowed more money from banks last month. Bank ...

As of May, Governmen will start signing the contracts for Start-up Nation 2018

Wednesday, May 8, 2019

 The Government will start, in the first part of May, to sign the contracts with the first 200 companies that have already been checked within the Start-up Nation 2018 programme, Business Environment, Trade and Entrepreneurship Minister Stefan-Radu Oprea stated on Thursday at the Victoria Palace."The current situation of the Start-up Nation 2018: 6,688 projects and business plans have already been checked, 5,302 projects have been accepted so far, 458 ...

Deloitte: Romanian key employees can benefit from more fiscally favorable incentive plans compared to other countries in the region

Wednesday, May 8, 2019

The long term incentive plan called Stock Option Plan, based on which the employer grants equity in the company to its key employees, in certain conditions, is more favorable from a tax perspective than similar plans implemented in other countries from Central ...

More than 1.38 million entrepreneurs were registered in February this year

Wednesday, May 8, 2019

The number of shareholders and partners of companies in Romania has reached a historical all time high in early this year, more precisely counting for over 1.38 million entrepreneurs, according to findings provided by REGnet.ro for the National Trade Register Office, based on statistics conducted during January-February 2019. So, in February there were 1,380.391 entrepreneurs recorded in Romania, with 863,214 men and 517,777 women, which means more by ...

Orange Romania records a 2% drop of business figure in Q1

Wednesday, May 1, 2019

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Orange Romania announced on Tuesday, that it had registered a 2% drop of the business figure in Q1, compared to the same period of 2018, up to  265 million euro, mainly on the background of interconnection prices for mobile phone voice calls. On March 31, Orange Romania was offering mobile, fixed and TV services to 10.693 million customers, on the rise by 2.3% compared to the end of Q1, 2018. “Fixed services continued ...

The majority shareholder of TMK –Artrom wants to launch a public offer for 59.4% of the shares

Wednesday, May 1, 2019

TMK Europe GmbH, the majority shareholder of TMK-Artrom intends to launch a public offer for approximately 59.39% of the social capital of the company, a press release of the company says.According to the press release sent to BVB Raiffeisen Bank SA,. Raiffeisen Centrobank AG and WOOD & Company Financial Services were named as Global Joint coordinators and owners of the register of subscription of the offer. BT Capital Partners SA was named Agent retail of the ...

EY REPORT: Global appetite for mergers and acquisitions has reached record for the past 10 years

Wednesday, May 1, 2019

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EY study (Valuation multiples in the context of Bucharest Stock Exchange and local M&A market), that has compared the performance of the most relevant two indexes of the Bucharest Stock Exchange (BET and BET-TR) with the Yield to Maturity of the Romanian Government Bonds, has found that the capital market indexes have generated a higher median return of 4.8% for the BET index and of 13.9% for BT-TR over the past 7 years. However, one needs to keep in mind ...

Study: Romanian employees prefer working in the multinational companies

Wednesday, May 1, 2019

Despite the salary hikes in the public sector, only three in ten Romanian employees say they would consider working in a state institution in the near future, says a survey conducted by BestJobs online hiring platform this month. About six in ten employees in Romania prefer working in private companies, while 9 percent would like to be self-employed. Among those who want a career in the private sector, roughly two thirds would ...

Services sector is booming on higher external demand

Wednesday, May 1, 2019

Romania’s services sector is expanding its businesses at fast pace as the demand from the external markets is higher than ever. According to fresh official data released by the central bank, Romanian companies exported services of EUR 3.76 billion during the first two months of this year, up 17.5 percent against January-February 2018 (EUR 3.2 billion). This strong performance is mainly due to the strong IT sector, a ...

ONRC: Companies dissolved in Q1 2019 vs Q1 2018 down 13.13pct

Wednesday, May 1, 2019

The number of companies dissolved in first quarter of 2019 dropped by 13.13pct vs the same period of 2018, to 8.507 units against 9,793 units in 2018, according to data released by the National Trade Register Office (ONRC).Most of the shutdowns were recorded in Bucharest (1,445) down 25.63pct vs Q1 2018 and in the counties of Constanta (423, plus 4.96pct), Timis (423, minus 19.89pct) and Cluj (382, minus 17.85pct). As reported to the first quarter ...

Eurostat: Romania, fourth in EU by share of self-employed persons in total workforce

Wednesday, May 1, 2019

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In 2018, 32.6 million persons aged 15 to 74 in the European Union were self-employed, accounting for 14 percent of total employment, according to the latest figures released by Eurostat. Romania ranked fourth by the share of self-employed individuals in its total workforce, with 17 percent, below Greece (30 percent), Italy (22 percent), and Poland (18 percent) and followed by the Czech Republic, the Netherlands and Spain (16 percent each), Portugal, ...

More than 4,400 companies suspended their activity in Q1 2019

Wednesday, May 1, 2019

More than 4,400 companies suspended their activity in the first quarter of this year, by 22.55 less than in the same period last year, according to data released by the National Trade Register Office (ONRC).As many as 1,393 companies suspended their activity in March this year.Most companies that have suspended their activities in the past three months are based in Bucharest, 440, by 33.93 per cent down against the same period of last year. The Capital ...

Survey: Six in ten Romanian employees want to change job in next six months

Wednesday, May 1, 2019

Almost half (42.5pct) of Romanian employees are planning to change their jobs in the next three months, according to a survey conducted by an online recruiting platform.Another 14.1pct of respondents want to make this change in a maximum of 6 months, which means that the next half year will be extremely dynamic in terms of staff fluctuation, as of almost 6 in 10 employees want to find another job, according to the quoted source.In fact, 7 in 10 ...

Banca Transilvania's net profit rises to over 92mln euro in Q1 of 2019

Wednesday, May 1, 2019

Banca Transilvania reported a net profit of 436.07 million lei (over 92 million euro) in the first quarter of 2019, up 19pct from the same period in 2018, or 407, 51 million lei, taking into account the bank assets tax, according to the results sent to the Bucharest Stock Exchange. "In terms of operational efficiency, it is kept at a comfortable level in Banca Transilvania, that is 47pct, calculated with an annualized impact of the contribution to the Bank Deposit ...

Biofarm shareholders approve gross dividend per share of 0.010 lei

Wednesday, April 24, 2019

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Biofarm shareholders approved the distribution of dividends of 9.853 million lei, that is gross dividend of 0.010 lei/share, from the profit made in 2018, according to a press release sent to Bucharest Stock Exchange on Tuesday. The General Assembly of Biofarm Shareholders approved on Tuesday the main indicators for 2018, that is a net profit of 38.425 million lei, on the rise by 7% against the previous year, to a business figure of 184.241 million ...

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