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Steel roofing producer Bilka reports 22% net profit margin in 2021

Wednesday, March 30, 2022

Steel roofing manufacturer Bilka, an entrepreneurial company in Brasov owned by Horatiu Tepes, achieved a net profit of RON 245 mln (EUR 50 mln) for 2021 and a net profit margin of 22%, according to the data reported by the company.   The company's turnover rose by 40% compared to 2020, to RON 1.1 bln (EUR 220 mln) while the net profit more than doubled from RON 102 ...

Fibreglass mesh producer BICO takes over Moldovan peer Terra Impex

Wednesday, March 30, 2022

BICO Industries, the leading manufacturer of fibreglass mesh in Romania and part of the ROCA Industry construction materials holding, is expanding regionally by taking over Moldovan peer Terra Impex.   "This is an important moment after listing our holding on the Bucharest Stock Exchange and a strategic step by BICO Industries to significantly increase their production capacity. The goal of BICO for the ...

Kingfisher Group announces global financial results for 2021

Wednesday, March 30, 2022

2021 was a year of record revenue and profits for the Kingfisher Group, according to the global financial results released today: GBP 13.2 billion in sales and a profit increase of 20.9%. The company also gained market share in the UK and France and returned over £550m to shareholders, including dividends and ongoing £300m share buyback. “Kingfisher has delivered a year of very strong financial performance. We saw ...

Romania faces a series of major restructurings as companies prepare for austerity

Wednesday, March 30, 2022

The second half of 2022 will force company leaders to adopt an austerity plan, in the context of the accelerated increase of energy or fuel prices, but also in the current conflict in Ukraine context. Thus, in some industries, marketing budgets or certain bonuses for employees may be waived and there will be cases where even restructuring processes will take place, according to an analysis by the HR and organizational transformation company Arthur Hunt ...

Varta seeks 100 ha of land near Arad to build electric car battery factory

Wednesday, March 30, 2022

German group Varta seeks 100 ha of land close to Arad, western Romania, as a potential location for a EUR 1 bln e-vehicle battery ...

Smartree Group ended 2021 with a turnover up by 17% compared to 2020

Wednesday, March 30, 2022

  Smartree, the strategic partner that offers integrated human resources services and software solutions, announces last year’s financial results, as well as the main development directions for 2022.   Therefore, in 2021, the turnover exceeded 123 million lei, increasing by 17% compared to the previous year. This increase was partly due to the new ...

Medlife increases stock packages in Genesys and Almina companies

Wednesday, March 23, 2022

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Medlife, the private medical service market leader in Romania, announced that it increases its stock participation in two companies, Genesys and Almina. “Thus, Medlife increases by 10% its package of shares in Genesys company, one of the biggest medical private service operator in the western part of Romania, now holding a package of 83%,” the group announces.   Genesys has been part of Medlife System since 2011, when representatives ...

EximBank grants financial package of 21 million lei to Urbioled Iasi

Wednesday, March 23, 2022

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EximBank announced it concluded a financial accord of 21 million lei with Urbioled Iasi, a company producing, distributing and installing LED type sources and the financial package structured by the bank is meant to finance and current activity of the company.   Urbioled is a company with 100% Romanian private capital. Set up in 2013, the company began its activity as distributor of street lighting installations and later on became a producer and ...

Bittnet Group announces signing of M&A deal with TopTech

Wednesday, March 23, 2022

  Bittnet, a group of IT companies listed on the main market of the Bucharest Stock Exchange under the ticker BNET, announced 2022's first M&A transaction following the completion of negotiations for the full takeover of TopTech, a local company specializing in IT&C equipment and solutions, Bittnet said in a release.According to the cited source, the transaction now awaits the approval of the Competition Council."We welcome our new ...

Agroserv Mariuta posts a turnover of RON 68.4 million for 2021

Wednesday, March 23, 2022

Agroserv Mariuta (BVB: MILK ), a Romanian agricultural company and owner of the Laptaria cu Caimac brand, posts a turnover of 68.3 million lei for 2021, an increase of 40% compared to 2020 and a net profit ...

The startup Frisbo expands to four new countries in Q1

Wednesday, March 23, 2022

Romanian startup Frisbo, which runs an e-fulfillment platform for the collection, packing and delivery of online orders, announces the expansion of its operations to the UK, Spain, Italy and Austria in the first months of this year, thus facilitating the logistics of European online stores that want to sell on these markets, the company said in a statement on Monday.For the current year, Frisbo aims to expand its operations in the Benelux, Estonia, Lithuania and Finland and ...

ONRC: 573,581 women shareholders or business associates in Romanian companies as of end-January

Wednesday, March 23, 2022

The number of women shareholders or business associates in Romanian companies was 573,581 as of end-January, accounting for 36.81 percent of the country's total number of shareholders or associates, shows data with the National Trade Registry Office (ONRC).Male shareholders or associates with the 1,111,285 companies operating in Romania as of end-January stood at 984,429, accounting for 63.19 percent of the total 1,558,010 business associates/individual shareholders in the ...

Deloitte report ”Leadership, representation and gender equity in financial services”

Wednesday, March 23, 2022

Based on historical growth, women will occupy less than a third (28%) of the leadership roles in the financial services companies by 2030, according to the latest edition of Deloitte report ”Leadership, representation and gender equity in financial ...

Five new Romanian additions to FTSE Emerging Markets indices

Wednesday, March 23, 2022

   Another five companies listed on the Bucharest Stock Exchange (BVB) joined the FTSE Russell Emerging Markets indices on Monday, the BVB announced on its website.The new additions are MedLife (M), Purcari Wineries (WINE), Conpet (COTE), IMPACT Developer & Contractor (IMP) and Sphera Franchise Group (SFG)."The global index provider made the decision to include the companies following the quarterly review announced on February 18. M shares ...

Workers of TMK Artrom have wages frozen by sanctions against Russia

Wednesday, March 23, 2022

Cartel Alfa trade union federation said on last Thursday, March 17, that nearly 2,500 employees of TMK Artrom - one of the largest industrial pipe producers in Romania and Europe - cannot receive their salaries due to the blocking of accounts in the context of sanctions imposed on Russia.   The accounts of TMK Artrom Slatina, a manufacturer of industrial pipes for the oil industry, and TMK Resita, which produces steel for TMK Artrom Slatina, are frozen due to sanctions ...

Top 10 local exporters to Russia in 2021: Dacia, P&G, Philips and Chimcomplex

Wednesday, March 23, 2022

Romania exported about EUR 1 bln worth of goods and services to Russia last year, according to Ziarul Financiar daily's calculations based on data from ...

Beltrame Group has completed the acquisition of Targoviste Special Steel Plant

Wednesday, March 23, 2022

AFV Beltrame Group, one of the largest producers of steel bars and special steels in Europe, has completed the acquisition of the functional production assets ...

Kuhn Holding buys Romanian Komatsu construction equipment distributor

Wednesday, March 23, 2022

  Austrian group Kuhn Holding, a family-owned Komatsu Distributor based in Salzburg, has bought the Romanian construction equipment distributor Marcom RMC’94. The transaction, which was signed in February 2022, is part of the Austrian group’s international expansion strategy.   Marcom was founded in 1992 and its primary focus is on the sales of Komatsu construction machinery, which makes it a fit for the Kuhn family’s ...

Battery manufacturer ROMBAT receives Q1 Ford Supplier certification

Wednesday, March 23, 2022

Rombat, the Romanian manufacturer of car batteries, has received the "Q1 Ford Supplier" certificate, which confirms its high quality standards, systems' capability, performance in guarantee period and shipping, as well as strict criteria for quality and environmental management, according to a press release sent on last Thursday."The Q1 Ford Supplier status attests the level of excellence as an OEM supplier and places Rombat in the elite club of Ford suppliers, which ...

Bento is going public on the AeRO market and contributes to the consolidation of the IT sector on the local capital market

Wednesday, March 23, 2022

Bento – Intellectually Curious (2B Intelligent Soft), a Romanian entrepreneurial company founded in 2004,  specialized in developing and implementing software solutions and delivering IT and Cloud infrastructure services, debuted March 16 on Bucharest Stock ...

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