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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Four-fifths of Romanian companies are running on outdated resource planning solutions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
Eight out of ten Romanian companies use outdated and insufficiently digitized Enterprise Resource Planning (ERP) systems, show surveys carried out by management consultants.According to Horvath & Partners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 ...
Tarom asks Govt. for EUR 190 mln grant
Wednesday, November 11, 2020
The Board of Directors of Romanian state-owned air carrier Tarom approved a memorandum asking for state aid, in the form of a grant of up to RON 924 million (EUR 191 ...
OTP Bank grants Rara Invest SRL through the SME Invest Program
Wednesday, November 11, 2020
OTP Bank granted one of the largest financing guaranteed through the SME Invest Program, amounting to 8.9 million lei, to the company Rara Invest SRL, to support the development investments of the logistics operator. The financing is already used by the company for the expansion of the storage spaces it operates in the ?ura Mic? industrial park in Sibiu. The new logistics centre, under construction, ...
GRAMPET Group accelerates innovation and digitalization projects
Wednesday, November 11, 2020
The GRAMPET Group – Grup Feroviar Roman (GFR), the largest railway group and private logistics operator in Romania and South-Eastern Europe, intensifies its activity of developing IT solutions and announces new applications, as the Coronavirus pandemic has accelerated the digitalization trend in most industries. “Competitiveness in a company (and, implicitly, in an economy) is today closely linked to its ...
Schneider Electric digital solution implemented in the JTI factory
Wednesday, November 11, 2020
Schneider Electric Romania has integrated a digital solution for the power supply of the production lines in the JTI Bucharest factory. JTI, the first international tobacco company established in Romania since 1993, with over 1,200 employees, made investments of millions of euros in the factory in Bucharest, and Schneider Electric Romania, through its solutions and the designated teams of professionals, was one of ...
TeraPlast enters biodegradable packaging market with investment of almost 12 ml euros
Wednesday, November 11, 2020
TeraPlast Group is seeking funding of about 5.8 million euro under the state aid scheme for stimulating investments with a major impact on the economy for its 11.8-million euro project "Establishment of a new production facility for TeraPlast Biodegradable Foils SRL" whereby it plans to enter the newly emerging biodegradable packaging market, the company said in a report submitted on Wednesday to the Bucharest Stock Exchange (BVB).The requested state aid ...
McKinsey Study: Romanian companies have low organization agility
Wednesday, November 4, 2020
Romanian companies have a low organization agility, which limits their capacity to react to crises and long term performance, according to a local McKinsey study, which shows that IT and financial services are sectors with the best scores for agility, with up to 9% higher than the ones obtained by companies in other sectors. Most Romanian employees consider work from home as the most useful change made by companies in this period of ...
Alstom to deliver trains for M5 metro line
Wednesday, November 4, 2020
Alstom will supply the new Metropolis trains for the M5 metro line, through a contract of over 100 million euros, with the possibility of expanding to a total value of 240 million euros, the manufacturing company announced, in a press release sent on Tuesday.Thus, Metrorex SA, the operator of the Bucharest metro network, awarded Alstom a contract to provide a total of up to 30 Metropolis trains for the new M5 line, delivered in two installments.According to the ...
CCC, the leader of the Polish footwear market is joining Colosseum Mall
Wednesday, November 4, 2020
CCC, the leader of the Polish footwear market, with a chain of 76 stores across Romania, will open at the end of next year a store of 800 sqm in Colosseum Mall. The store from Colosseum Mall will follow the newest concept and design of the CCC brand, which focuses on simple lines, neutral colours, grayscale finishes with metal furniture elements and a modern look with industrial influences. Joanna Jozwiak, General ...
Orange Romania posts 2.1% lower revenues in Q3
Wednesday, November 4, 2020
Orange Romania, the biggest telecom group on the local market, reported that its turnover decreased by 2.1% in the third quarter (Q3) to EUR 273.1 million. "Although we are going through a period of crisis, with multiple uncertainties, we saw a slight recovery in consumption in the third quarter of this year," Orange Romania CEO Liudmila Climoc said in a statement. The number of customers remained at the same level as last year ...
Dcs Plus opens a new office in India
Wednesday, November 4, 2020
Romanian company Dcs Plus, which develops software for the tourism industry, has opened an office in Gurgaon, India.Gurgaon is recognized as the second biggest technology city in India and has emerged within the top 5 tech cities in the Asia Pacific region. The company’s new office there will allow the travel tech provider “a greater strategic speed and flexibility in serving the needs for technical developments of ...
Tchibo takes over Romanian coffee shop chain
Wednesday, November 4, 2020
German group Tchibo Coffee Service, specialized in the professional supply of coffee to hotels, restaurants, cafes, pastries, offices, and hospitals, will take over the Romanian company Partner Coffee Service, which owns 13 coffee shops under the brand The Coffee ...
ONRC: Over 8,000 companies suspend activity in first nine months of 2020
Wednesday, November 4, 2020
The number of companies that have suspended their activity decreased, in the first nine months of 2020, by 25.44% compared to the similar period of 2019, reaching 8,091, according to data published by the National Office Trade Registry (ONRC).Most companies that suspended their activity between January and September 2020 were from Bucharest, respectively 834 (decreasing by 21.76% compared to the same period in 2019), the capital city being followed by the counties of Cluj, ...