RSS
Companies
Purcari Wineries records net profit of 43.37 million RON in the first nine months, down 1%
Wednesday, November 20, 2024
The wine maker Purcari Wineries recorded in the first nine months a net profit of 43.374 million RON, down 1% compared to the same period in 2023, while revenues increased by 4%, to 262.023 million RON, according to the financial results posted on Friday on the Bucharest Stock Exchange.In the first nine months of 2023, Purcari Wineries recorded a net profit of 43.762 million RON and revenues of 252.511 million RON.According to the cited source, revenues ...
Over 120 Romanian agricultural companies file for insolvency in 2024
Wednesday, November 13, 2024
At least 123 agricultural companies in Romania have filed for insolvency so far in 2024, and their number will increase significantly in 2025, according to business restructuring and financing specialists.According to them, we will witness major imbalances in the agricultural industry in 2025 due to an expected surge in the number of companies that will no longer be able to pay their debt."Although the agricultural sector has been severely ...
Orsova Shipyard posts 5.6 M Ron in net profit January through September
Wednesday, November 13, 2024
The Orsova Shipyard posted 5.62 million Ron in net profit January through September this year, up 41.08% compared to the same period last year, according to a report sent to the Bucharest Stock Exchange.The company achieved, between January 1 and September 30, 2024, a turnover of 72.2 million Ron, 11.72% lower than the same period of the previous year, and a gross profit of 6.999 million Ron, higher by 56.88%.In the first nine months, ...
GARBE Industrial Real Estate Expands in Romania
Wednesday, November 13, 2024
GARBE Industrial Real Estate GmbH (“GARBE”), one of the leading providers and managers of logistics, light industrial and technology real estate in Germany and Europe, just set up a new company in Romania. Under the leadership of CEE Managing Director Martin Polák and Country Head Andrei Jerca, GARBE Industrial Real Estate Romania will expand its activities in this market and implement its own property ...
One United Properties posts a gross profit of EUR 70.8 million in first nine months of 2024
Wednesday, November 13, 2024
One United Properties , Romania’s leading green developer of residential, mixed-use, and office real estate, recorded turnover of EUR 208.5 million in the first nine months of 2024, an 11% year-on-year decrease. This marks the second time in the Company’s history that turnover has surpassed EUR 200 million already within the first three quarters, reaffirming One United Properties strong position in the Romanian real estate market. Gross profit for the period was ...
Turbomecanica and Prebet to be added to MSCI Frontier Markets indices as of Nov 26
Wednesday, November 13, 2024
The shares of two companies listed on the Bucharest Stock Exchange (BVB) - Turbomecanica and Prebet - will be added as of November 26 to the MSCI Frontier and MSCI Romania Investable Market Indices, that include Small Cap, Mid Cap and Large Cap issuers, the BVB announced on Friday.Also, TeraPlast (TRP) will be deleted from the MSCI Frontier and MSCI Romania indices that only include Mid Cap and Large Cap companies, and included instead in the MSCI Frontier ...
Aerostar records net profit of almost 59 mln RON in first nine months of 2024
Wednesday, November 13, 2024
Aviation company Aerostar recorded in the first nine months of 2024 a net profit of 58.814 million RON, slightly down by 3.7% compared to the one obtained in the same period of 2023, of 61.09 million RON, according to the unaudited results sent to the Bucharest Stock Exchange (BVB) on Friday.The company's revenues amounted to 464.9 million RON, and expenditures to 397.77 million RON. The gross profit was, in the mentioned period, 67.16 million ...
Gov't grants 100 M euros in stated aid to Nokian Tyres facility in Oradea
Wednesday, November 13, 2024
The car tire factory in Oradea, developed by Nokian Tyres, will benefit from a state aid of almost 100 million euros, according to a decision approved during Thursday's Government meeting.The state aid will be given in the form of a grant, according to government spokesman Mihai Constantin, as he told a press conference at the Victoria Palace. The investment in Oradea totals over 625 million euros."In Bihor county, Nokian Tyres will develop ...
Competition Council Reviews Volta Grup’s Acquisition of Electrotehno
Wednesday, November 13, 2024
The Competition Council analyzes the transaction through which Volta Grup S.R.L. intends to take over Electrotehno S.R.L. Volta Group S.R.L. is active in the field of electrical equipment distribution. Electrotehno S.R.L operates in the field of production of electrical equipment for the control and distribution of ...
ELECTROPLAST: Over EUR 9 million investments to modernize the factory
Wednesday, November 13, 2024
ELECTROPLAST, one of Romania’s leading electrical cable manufacturers, marks a new development phase through the implementation of an investment project worth over 9 million euro, aimed at technological modernization of the factory and through expanding its presence in major railway infrastructure projects. Through current investments and strategic partnerships, the company continues to strengthen its position in the production of high-performance electrical cables, ...
Vodafone Romania signs Memorandum of Understanding for acquisition of Telekom Romania Mobile Communications
Wednesday, November 6, 2024
Vodafone Romania has signed a Memorandum of Understanding for the acquisition of Telekom Romania Mobile Communications, including a significant part of its assets from the Hellenic Telecommunications Organization (OTE), Vodafone announced in a press release on last Thursday.Digi Romania will also take over part of the assets."This is an important moment for the Romanian telecommunications market, with significant growth potential once this transaction is ...
Competition Council Approves Azzurra Leaf Two SRL’s Stake in Pasfin Spa
Wednesday, November 6, 2024
The Competition Council authorized the transaction by which Azzurra Leaf Two S.r.l. intends to become a shareholder of Pasfin S.p.A., together with the Pasquini Family. Prior to the transaction, Pasfin S.p.A. it was fully owned by the Pasquini Family. Azzurra Leaf Two S.r.l., from Italy, exclusively carries out activities related to the acquisition and management of participations in ...
DIGI Launches in Portugal with Competitive Pricing from Day One
Wednesday, November 6, 2024
Beginning November 4, DIGI launches its commercial operations in Portugal, offering a wide range of services for individual users: fiber optic broadband internet, mobile voice and data on 2G/4G/5G networks, television, and fixed telephony. In a future phase, DIGI aims to diversify its portfolio with solutions targeted at the business segment. Within just two and a half years, DIGI ...
Freedom24 selects Pi2 as communication partner in Romania and Hungary
Wednesday, November 6, 2024
Freedom24 is the European subsidiary of Freedom Holding Corp., an international investment group listed on the NASDAQ stock exchange with a market capitalization ...
SUPERBRANDS ROMANIA announces the initial results of the 2024-2025 edition research
Wednesday, November 6, 2024
The trend of diversifying consumer choices continues: 51% of the commercial brands validated as eligible for Superbrand status come from industries such as Retail, Services, Construction, Furniture, Technology, Automotive, Media, Healthcare, HoReCa, while 49% are active in the FMCG sector Romanian brands maintain their relevance: 32% of the commercial brands eligible for Superbrand status originate from Romania, with 3 brands ranking among the ...
4,392 companies with foreign capital, established in first 9 months of 2024
Wednesday, November 6, 2024
A number of 4,392 companies with foreign capital were established in Romania in the first nine months of 2024, down by 16.22% compared to the same period in 2023, according to the data centralized by the National Trade Registry Office (ONRC).The 4,392 new companies had a subscribed capital in the total amount of 16,902 million dollars, down 85.44% compared to the subscribed capital of companies registered in the first nine months of 2023, of 116,079 million ...
As many as 5,119 companies and self-employed persons go insolvent over Jan - Sep 2024
Wednesday, November 6, 2024
The number of companies and self-employed persons (PFAs) going insolvent in the first nine months of 2024 was by 11.82 percent higher from the year-ago period, at 5,119, according to data published on the website of the National Trade Register Office (ONRC).Most insolvent companies and PFAs were reported in Bucharest City, at 912, down 1 percent from January - September 2023. Next in the insolvency ranking are the counties of Bihor - with 432 insolvencies (+12.21 pct), Cluj ...
Oves Enterprise, Norway's KDA contemplate strategic partnership
Wednesday, November 6, 2024
Cluj-Napoca-based Romanian software developer Oves Enterprise is contemplating a strategic partnership with one of the global leaders in defense solutions, Kongsberg Defense & Aerospace (KDA) for the integration of its Nemesis AI technology into defense solutions, the Romanian company said in a release.Oves Enterprise received this week at its headquarters a delegation from KDA, Norway's premier supplier of defence and aerospace-related systems and solutions, led by the ...
Giampaolo Manzonetto appointed as new CEO of Caroli Foods Group
Wednesday, November 6, 2024
Multinational food group Sigma announces the appointment of Giampaolo Manzonetto as Chief Executive Officer of its Romanian subsidiary, Caroli Foods Group. Giampaolo succeeds Roxana Manolescu, who has chosen to pursue new professional opportunities, and whose leadership has been instrumental in integrating Caroli into Sigma following its acquisition, and shaping the company’s direction in Romania. With over 25 years of ...
Ford Otosan Opens EV Battery Assembly Line in Craiova
Wednesday, November 6, 2024
Ford inaugurated on Wednesday in Craiova the assembly line of batteries that will be used in the production of electric models that will be manufactured at the factory in Oltenia. The Puma Gen-E model will be presented in December, says Ford Otosan. The batteries will be assembled in the engine bay and then transported to the final vehicle assembly bay via an overhead conveyor. The new electric vehicle production line includes a number of ...