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OCTAVIC expanded into new industries and increased company turnover by 60% in 2022
Wednesday, May 24, 2023
OCTAVIC, provider of digital solutions for factory performance, announces a 50% increase in profit in 2022 and a 60% increase in the company's business, to EUR 265 thousand. OCTAVIC managed to enrich its client portfolio with brands such as Philips, CIE Golde and Solid Food, and also supplemented the international business units in terms of collaboration with Zentiva, Avril Expur and Gedeon Richter. In ...
Bitdefender expands the partnership with Ferrari, on cyber security
Wednesday, May 24, 2023
The Romanian maker of antivirus solutions, Bitdefender, is expanding its partnership with the car maker Ferrari, to provide the Bitdefender Advanced Threat Intelligence solution to the company's global security operations.According to a press release sent on last Thursday, Ferrari S.p.A. will integrate Bitdefender Advanced Threat Intelligence into its Security Operations Center (SOC) to help Ferrari's IT security analysts validate and triage alerts faster, ...
Marsh McLennan opens new IT hub in Cluj, plans hiring 100-plus facility personnel
Wednesday, May 24, 2023
The world's leading professional services firm in risk, strategy and people Marsh McLennan is launching a new IT center in Cluj-Napoca, planning to hire over 100 personnel for the facility, the company said in a release on Wednesday.Through the new hub in Cluj, the consulting giant will offer IT career opportunities for software engineers, cloud data engineers, system analysts and project managers.The new tech hub becomes the company's main IT ...
ROCA Industry planning Electroplast takeover, transfer to main Stock Exchange market
Wednesday, May 24, 2023
Construction materials holding ROCA Industry is planning to integrate electric cables manufacturer Electroplast in its portfolio, with shareholders due to vote in June on the transaction, as well as on the increase of the company's capital by a maximum of 150 million RON and the transfer from the AeRO to the Main Market of the Bucharest Stock Exchange (BVB), the holding said in a release on Tuesday.In light of its intention to strengthen its position on the ...
Evergent Investments records net result of 2.41 million RON in first trimester
Wednesday, May 17, 2023
The investment company Evergent Investments recorded, in the first three months of this year, a net result of 2.41 million RON, composed of 4.6 million RON loss and 7.01 million RON net gain from the sale of financial assets reflected in the retained earnings, according to a press release sent on Monday night.The company reported investments of 151.6 million RON on March 31, 2023 and a total value of assets of 2.419 billion RON. The company distributed ...
Sphera Franchise Group, double-digit sales growth across brands and markets in Q1 2023
Wednesday, May 17, 2023
Sphera Franchise Group, the largest group in the food service industry in Romania, registered in the first 3 months of 2023 consolidated sales of RON 335.1 million, a 20.3% increase compared to the similar period of 2022. The Group ended Q1 2023 with a net profit of RON 7.3 million vs. a net loss of RON 10.9 million in Q1 2022, while EBITDA increased by 526% YoY, to RON 23.5 ...
Six in ten Romanian entrepreneurs want their business to stay in the family
Wednesday, May 17, 2023
Almost 60 percent of Romanian family business owners want to make sure that the business stays in the family in the long term, shows a PwC survey published on Monday.According to the Global Family Business Survey, only 63 percent of Romania-based family enterprises have plans in place for the future of the business, such as shareholder agreements (39 percent), dividend policies (39 percent), emergency plans for handling sudden or unexpected situations ...
1,809 companies with foreign capital, established in first trimester of 2023
Wednesday, May 17, 2023
The number of newly established companies with foreign capital in Romania increased, in the first three months of 2023, by 10.3%, compared to the similar period in 2022, to 1,809 units, according to the data centralized by the National Trade Registry Office (ONRC).The 1,809 new companies had a subscribed capital in the total amount of 6.89 million dollars, 31.2% lower than that of the companies registered in January-March 2022, of 10.02 million ...
Telekom Romania Mobile Communications announces changes in the leadership team
Wednesday, May 17, 2023
Mrs. Florina Tanase is appointed Chief Human Resources, Transformation & Governance Officer. In her new role, Mrs. Tanase will ...
Antibiotice Iasi, net profit of 22.2 million RON in first trimester of 2023
Wednesday, May 17, 2023
Antibiotice Iasi recorded in the first quarter of this year a net profit of 22.2 million RON, more than 2.5 times higher compared to that in the same period last year, of 8.63 million RON, according to the financial report submitted to the Bucharest Stock Exchange on Friday.During the mentioned period, the company made sales in the market (sell-out) in the amount of 130.1 million RON, an increase of 21% compared to the first quarter of 2022 and occupied the ...
One United Properties posts a consolidated turnover of EUR 89.3 million
Wednesday, May 17, 2023
One United Properties, the leading Romanian green developer of residential, mixed-use and office real estate, posts a consolidated turnover of 89.3 million euro in Q1 2023, a 27% increase compared to Q1 2022. The gross profit reached 36.2 million euro, a 61% increase excluding the one-off gain from Bucur Obor’s bargain purchase recognized in Q1 2022 in the amount of 19.6 million euro. ...
FONDUL PROPRIETATEA FINANCIAL RESULTS FOR Q1 2023
Wednesday, May 17, 2023
Fondul Proprietatea (“the Fund”) published its financial results for the first three months ended on 31 March 2023 and would like to share the following highlights: Fondul Proprietatea recorded a loss of RON 11.5 million in the first three months of 2023. Following the assessment performed, during the quarter ended 31 March 2023 ...
Nearly 18,000 firms deregistered in Q1 2023
Wednesday, May 17, 2023
A total of 17,998 companies were deregistered nationwide in the first three months of 2023, 0.49% fewer than in the same period last year, according to statistics from the National Trade Register Office (ONRC).The most deregistrations were recorded in Bucharest Municipality - 2,748 (-1.93% compared to January - March 2022) and in the counties of Constanta - 875 (+10.34%), Timis - 844 (+4.58%) and Cluj - 843 (+4.07%).Conversely, the fewest ...
Accenture Study: Among C-suite Leaders, AI is Top Digital Priority in the Path to Operational Resilience
Wednesday, May 17, 2023
Nearly three-fourths (73%) of companies are prioritizing AI over all other digital investments and with the immediate focus on improving operational resilience in an unprecedented environment, according to a study by Accenture (NYSE:ACN). The ...
Alufix factory in Brasov, taken over by the Ukrainian Biosphere Corporation
Wednesday, May 17, 2023
One of the largest producers and distributors of household goods, hygiene and professional use in the away-from-home segment in Eastern Europe and Central Asia, Biosphere, announces the acquisition of the Alufix factory, through a major investment on the Romanian market. Alufix, owned by an Austrian holding, is an internationally renowned production company, operating in Romania since 2003, specializing ...
Aquila reports a 122pct increase in profit for the first quarter of 2023
Wednesday, May 10, 2023
Aquila, a company specialized in integrated distribution and logistics services for the consumer goods market of Romania and the Republic of Moldova, recorded a 122pct increase in profits in the first quarter of 2023 compared to the same period in 2022, to 27 million RON.According to results released by the company on Tuesday, revenues increased by about 93 million RON (+20pct), from 469 million RON in the first three months of 2022, to 562 million RON in the same period in ...
1,644 companies, of which 23 impactful companies, went insolvent in Q1 2023
Wednesday, May 10, 2023
1,644 companies went insolvent in Q1 2023, a number similar to the one in Q1 2022, when 1,610 insolvent companies were registered. 23 of these are impactful ...
Labor market, positive trajectory in medium term, unemployment rate to decrease, salaries to go up
Wednesday, May 10, 2023
The labor market will follow a positive trajectory in the medium term, offering fairly good prospects for all wage categories, according to the Medium Term Forecast 2023-2026, spring version.According to the National Strategy and Forecast Commission (CNSP), in the period 2024-2026 the employed population will grow at an average rate of 1%, and within it the number of employees will increase at a rate of 2%, while other categories of the employed population, mainly the ...
Realworld Eastern Europe grows turnover 18% in 2022
Wednesday, May 10, 2023
Romanian software solutions provider Realworld Eastern Europe, a unit of Dutch holding company Realworld Systems, said on Thursday that its turnover rose 18% year-on-year in 2022, reaching approximately 20 million lei ($4.48 million/4.06 million euro). Realworld Eastern Europe’s performance last year was driven by an extensive internal reorganistion process and expansion of its team by 25%, primarily in the areas of sales and delivery, it said ...
Aerostar boosts net profit 50% y/y in Q1
Wednesday, May 10, 2023
Romanian aircraft manufacturing and repair company Aerostar [BSE:ARS] said on Friday that its net profit grew 50% year-on-year in the first three months of 2023, reaching 30.1 million lei ($6.8 million/6.1 million euro). Aerostar’s turnover increased by 19.6% to 124.7 million lei in the first quarter of 2023, the company said in an interim financial report filed with the Bucharest Stock Exchange. Of the ...