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Digi ups turnover, earnings by double digit rates in 2019

Wednesday, February 26, 2020

Romanian telecom group Digi Communications NV, controlled by local businessman Zoltan Teszari, and operating in Romania, Hungary, Spain and Italy, reported that its operating profit (EBITDA) rose by 17% in 2019 versus 2018 to EUR 380 million, under comparable terms. The transition to IFRS16 accounting standards added another EUR 66 mln to the figure resulting in a final IFRS16 EBITDA of EUR 446 mln. The company’s net profit thus more than doubled ...

Insolvencies drop 7.4pct in January

Wednesday, February 26, 2020

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The number of companies and self-employed persons facing insolvency decreased by 7.4 percent in January compared with last year, to 463, according to data posted on the website of the National Trade Register Office (ONRC).Most of them were in Bucharest, namely 80, down 15.79 percent from the first month of 2018. The ranking continues with the counties of Bihor, 59 insolvencies (+22.92 percent), Cluj, 29 (+61.11 percent) and Constanta, 26 (+4 ...

Eurostat: Romania, 1st in terms of companies having hard-to-fill IT&C vacancies

Wednesday, February 26, 2020

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More than half (58 percent) of the companies in the 27 EU member states reported that in 2018 they were confronted with difficulties in filling in the vacancies of IT&C (information technology and communication) specialists, and the most significant deficit was recorded in Romania, the data published by EU's office for statistics Eurostat on Friday showed.Approximately 9 percent of the EU companies recruited or tried to recruit IT&C specialists in 2018. ...

Huf relocates Romanian R&D center to larger building

Wednesday, February 26, 2020

German automotive locking, access and authorization systems supplier Huf said on Friday it has relocated its research and development (R&D) centre in Romania's Timisoara to a larger building. "To keep our competitive edge as leading specialist for secure access and authorization systems, we are reorganizing our global R+D network to ensure that we provide a constant flow of innovations and serve our customers with top quality products at best ...

MedLife Group grows cons net profit, revenue in 2019

Wednesday, February 26, 2020

Romania's privately-owned medical services group MedLife [BSE:M] said on Friday that its consolidated net profit rose by an annual 24.1% to 20.8 million lei ($4.7 million/4.3 million euro) in 2019. Turnover increased by 21.7% year-on-year to 967.4 million lei in 2019 on the back of a significant growth in all business lines, mainly clinics, dentistry, laboratories and hospitals, MedLife said in a statement filed with the ...

RAIKO Transilvania closes private share placement on Bucharest bourse

Wednesday, February 26, 2020

Romanian guttering systems manufacturer RAIKO Transilvania said on Friday it has raised 840,000 lei ($190,500/176,000 euro) via a private placement of shares on the Bucharest Stock Exchange. During the private placement, which run for 3 days between February 13-17, the company sold 800,000 shares for 1.05 lei per share, it said in a press release. A total of 20 retail and institutional investors participated in the ...

UiPath reports USD 360 mln in recurring revenues for 2019

Wednesday, February 26, 2020

UiPath, the leading enterprise Robotic Process Automation (RPA) software company founded by Romanian entrepreneurs Daniel Dines and Marius Tirca, announced on February 19 that it closed 2019 with USD 360 million in Annual Recurring Revenues (ARR). Net new ARR in the fourth quarter exceeded USD 60 mln. New ARR stands for the value of the subscription contracts signed in the given period and likely to repeat in the future periods as long as the customers ...

Eco Tree gets EUR 215,000 seed financing for development

Wednesday, February 26, 2020

EcoTree, an innovative digital platform designed for the field of circular economy, waste recycling and developed by a Romanian start-up, will receive a EUR 215,000 seed financing for development and implementation. The financing is coordinated by local venture capital fund Sparking Capital, as Lead Investor, in partnership with the local crowdfunding platform Seed Blink and business angels. EcoTree is an innovative B2B digital ...

Nestle puts up for sale its former factory în Timisoara

Wednesday, February 26, 2020

Global food and beverages group Nestlé has announced that it is selling the premises of its factory located in Timisoara, western Romania, which was closed last year. The property, which covers an area of over 21,000 square meters, is located in the industrial and logistical area of western Timisoara. Real estate consultancy firm Colliers International is in charge of the sale. “The location of the factory is very ...

Blue Projects completes largest mineral wool factory in Romania

Wednesday, February 26, 2020

Romanian construction design and management company Blue Projects announced that it has completed the first Romanian factory of the Danish group Rockwool, a mineral wool factory that required investment worth EUR 50 million, located in the Ploiesti West industrial park, in Arice?tii Rahtivani commune, Prahova county. The factory has an area of 13,000 square meters and a production capacity of approximately 45,000 tons per year, being the largest such ...

COFACE ROMANIA STUDY: INSOLVENCIES IN ROMANIA DECREASED BY 22% IN 2019 COMPARED TO PREVIOUS YEAR

Wednesday, February 26, 2020

* The majority of insolvencies were registered in the wholesale and distribution sector followed by the constructions and retail sectors The most recent Coface Romania study shows that in 2019 there were 6,384 insolvent companies, -22% less compared to the level registered in the previous year. The data also indicate a gradual decrease of insolvent companies with revenues over EUR 0.5 million (medium and large companies). The ...

Telekom Romania posts financial results for Q4 2019

Wednesday, February 26, 2020

Telekom Romania group of companies announces the main performance indicators for the fourth quarter of 2019, ended on the 31st of December 2019, according to the data released today by OTE Group. After a difficult 2018, the company is delighted to announce that 2019 was a year in which more customers decided to join Telekom and recorded improved performance following the transformation process started in 2017. For the full ...

Study KeysFin: What happens with the Romanian businesses?

Wednesday, February 19, 2020

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Romania is close to the end of the post-crisis growth cycle, according to the latest data received from the Trade Registrar and interpreted by the analysts from KeysFin in the study’Trending Business;. Thus, in 2019, Romania has reached the performance of having the smallest number of insolvencies in history (6,5 thousand) respectively 27% lower than in 2018 and 67% than în 2009. Similarly, another record figure is that of active economic entitites (companies and ...

Romania's rate of newly-born enterprises in 2017 above EU average

Wednesday, February 19, 2020

The number of newly-born enterprises in the European Union accounted for 9.3 percent of the total number of active enterprises in 2017, a stable level compared to 2016, but increasing against a 9 percent rate in 2012, according to the data published by Eurostat on Monday.In 2017, the percentage of jobs generated by newly-born enterprises in the European Union stood at 2.4 percent of the total jobs, ranging from 5.2 percent in Portugal to 1.2 percent in Germany and ...

Market services provided to companies up 10.6pct in 2019

Wednesday, February 19, 2020

The turnover of the market services provided mainly to companies, increased by 10.6 per cent, in nominal terms, as gross series during the past year, against 2018, according to data released by the National Institute of Statistics (INS).According to the INS, the turnover of the market services provided mainly to the companies, gross series, increased, on the whole, by 10.6 per cent, over January 1 - December 31, 2019 compared to January 1 - December 31, 2018, in ...

Medicover and Synevo total revenue in Romania up by 26.9 percent

Wednesday, February 19, 2020

Active on the Romanian market through the network of Medicover healthcare clinics, Medicover and Pelican hospitals, and the Synevo laboratories, the private healthcare network Medicover reported its 2019 revenue at EUR 119.1 million in Romania, an 26.9% increase from the 2018 revenue (EUR 93.8 million). Romania ranks third in total group revenue, with a share of 14.1%, trailing only behind Germany and Poland, ahead of Medicover’s 11 other ...

Carlos Bernabe, the new general manager of Continental tire plant in Timisoara

Wednesday, February 19, 2020

Continental has announced the appointment of Carlos Bernabe as general manager of the tire plant in Timisoara, western Romania. Carlos Bernabe (aged 60) has been working in the Continental group for about 40 years and in management positions for 25 years. He graduated the Mechanical Engineering Faculty and has a master degree in Quality Management in France. Before taking over the GM position in Timisoara, Carlos Bernabe used to ...

Orange Romania reports 1.112 bln euro turnover, 10.941 mln customers in 2019

Wednesday, February 19, 2020

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Orange Romania has announced the 2019 annual results, saying that during October-December last year, it posted a turnover of EUR 299 million, up by 2.4% as against the same period in 2018. The total turnover for 2019 is EUR 1.112 billion. At December 31, 2019, Orange Romania offered mobile, fixed, and TV services for 10,941,000 customers, up by 1.7% as against Q4 2018, a press release informs. Fixed services continued their ...

Seven tech startups to watch in 2020

Wednesday, February 19, 2020

TypingDNA TypingDNA has developed proprietary artificial intelligence algorithms to authenticate users based on how they type. Through a simple training process of watching user keystrokes, TypingDNA can recognize further attempts from a specific user by matching them against their known account. Team of founders: Raul Popa, Cristian Tamas, Adrian ...

Farmaceutica Remedia signs sale of 52 pharmacies to Help Net for 8.5mln euros

Wednesday, February 19, 2020

Farmaceutica Remedia signed the contract for the sale of 52 pharmacies to Help Net Farma for the amount of 8.5 million euros, the transaction to be subjected to approval by the Competition Council, according to a report submitted on Wednesday to the Bucharest Stock Exchange.Through this new strategic acquisition, Help Net, part of the Phoenix group, is ranked 3rd on the local pharmaceutical retail market, with over 350 units nationwide and an ambitious development ...

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