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Aquila transport company could hit RON 1 bln business threshold this year
Wednesday, November 28, 2018
Aquila transport company, owned by Prahova county-based businessmen Alin Dociu ?i Catalin Vasile, could reach the RON 1 billion threshold this year after posting a turnover of RON 906.7 million last year. The company, with around 2,250 employees, posted a net profit of RON 10.1 million in 2017. During the first half of this year, the company registered a turnover of RON 441 million and could benefit from large end-year retail activity to enter into the RON 1 billion-league of ...
EU report: Romania’s SMEs haven’t yet recovered from the financial crisis
Wednesday, November 21, 2018
Romania’s small and medium enterprises (SME) didn’t recover following the financial crisis as their employment is still bellow the level reached in 2008 and the number of major deals involving SMEs is negligible, according to the annual report on European SMEs released by the European Commission quoted by http://business-review.eu. EU-wide developments of SMEs are not evenly reflected in member states. In six member states the 2017 level of ...
Competition Council suspects atypical situation for cement producers in Romania
Wednesday, November 21, 2018
The Competition Council’s analysis of the cement production and marketing sector in Romania indicates an atypical situation, in which cement producers maintain their market shares approximately equal and stable over time, thus increasing the risk of emerging forms of activity coordination. Cement producers have already been fined almost EUR 30 million in 2005 for concerted practices of setting prices for cement ...
ARIR: 11 capital market representatives set up the Romanian Investor Relations Association
Wednesday, November 21, 2018
Companies listed at the Bucharest Stock ...
AdePlast’s turnover reached RON 373 mln in the first three quarters
Wednesday, November 21, 2018
Building materials manufacturer AdePlast registered a 9 percent growth on a 9-month period compared to the same period last year, with a turnover of RON 373 million, http://business-review.eu informs. The same positive trend was also found in exports, which maintained a share of 8 percent of the total turnover. All these growths are coupled with the development of the company as a ...
DONA recruits senior European pharmaceutical executive as Chief Marketing & Digital Officer and Member of the Board of Directors
Wednesday, November 21, 2018
Thomas Hofmann led Alphega network of independent pharmacies in Germany for five years, romaniajournal.ro informs. DONA pharmacy chain is strengthening its top management team by appointing Thomas Hofmann in the Management Committee. As Chief Marketing & Digital Officer, he will drive the marketing strategy and will coordinate the communication, branding and digital activities, in line with the business ...
Cumulated value of fines imposed by Competition Council exceed 1.2 million lei in January-June
Wednesday, November 21, 2018
The Competition Council in the first six months of this year has a rich activity, with investigations in almost all the economy sectors, the cumulated value of the fines imposed by this authority accounting for approximately 1.226 million lei, according to the Report on the evolution of Competition in Key Sectors.In the first half of 2018, the Competition Council initiated eight investigations into possible violations of the competition law, as follows: horizontal ...
Vodafone Romania ups service revenues by 4.8% in Q3
Wednesday, November 21, 2018
Vodafone Romania, the second-biggest mobile carrier on the local market, recorded service revenues of EUR 183.6 million in the third quarter of this year, up by 4.8% compared to the same period of 2017, romania-insider.com informs. The organic service revenues decreased compared to the same quarter of the previous year by 0.8% as a result of the termination rate cut from 0.96 eurocents/minute, to 0.84 ...
US unicorn Tradeshift says its IT expansion will be headed from Romania as it plans to triple its local team
Wednesday, November 21, 2018
Tradeshift, a startup headquartered in San Francisco which became a unicorn earlier this year with a valuation of USD 1.1 billion, is planning a major expansion of its Romania IT center, according to Ziarul Financiar ...
Telekom Romania invests EUR 100,000 in ten local start-ups
Wednesday, November 21, 2018
Telekom Romania announced the winners of WeAccelerate, the programme through which the company is supporting ten Romanian start-ups through benefits for business acceleration, worth EUR 100,000 in total, romania-insider.com informs. A total of 121 start-ups from various business areas joined the competition, and the ten winning start-ups were designated following a thorough selection process, the company said in a press ...
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
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
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 ...