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Etex invests EUR 6 mln to secure raw material in Romania

Wednesday, August 18, 2021

Etex Building Performance (formerly Siniat Romania), a manufacturer of plasterboard systems part of a Belgium group, will invest EUR 6 mln in a sludge drying plant at Rovinari coal-fired plant of Oltenia power complex (CEO).   The plant will produce gypsum, further used in the production of plasterboards. This will be the second such gypsum production facility after ...

Bit Soft, in advanced state for acquiring distributor from France and Morocco

Wednesday, August 18, 2021

The "due diligence" process for acquiring the distributor from France and Morocco is quite advanced, says Bogdan Stanciu, Managing Director of Bit Soft, mentioning that if he will not encounter "a substantial blockage along the way", the transaction will most likely be final during Q4."I want to use the experience we acquired until this moment in order to attack the larger, more mature markets, which have a much higher potential than the markets we are ...

IOLA Center Clinic: double-turnover in 2021 compared to 2020

Wednesday, August 11, 2021

Established in December 2018, in Bacau, the IOLA Center medical recovery clinic estimates a double turnover in 2021 compared to 2020, as a result of the investments in marketing and branding made in the first six months of this ...

TAROM seeks nearly $ 60 million in funding to purchase three ATR aircraft

Wednesday, August 11, 2021

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The Romanian flag carrier Tarom has publicly called offers for the financing of the purchase of three ATR 72-600 aircraft worth USD 19.8 mln ...

The e-Learning Company announces 60% revenue growth in the first six months of 2021

Wednesday, August 11, 2021

The e-Learning Company, the most important provider of e-learning content for private organizations in Romania and part of the Bittnet Group, announces a turnover of 1.49 million lei in the first six months of 2021, a 60% increase compared to the same period last year and a net profit of 363,000 lei, 50% higher than the first half of 2020. The Romanian entrepreneurial company expects to reach a turnover of 3 million lei and a net profit of 1 million lei by the end of this ...

Significant EBITDA Growth for Telekom Romania in Q2 2021

Wednesday, August 11, 2021

Adj. EBITDA (AL) up 14.5% YoY as continued disciplined cost initiatives mitigated pandemic and seasonality effects on revenues; Continued improvement on Net Margin; Sustained subscriber growth in key mobile business segments.   Telekom Romania group ...

Diana Group invests EUR 7 mln this year

Wednesday, August 11, 2021

The Diana group of companies, a family business from Ramnicu Valcea (southern Romania), ...

Chimcomplex announces organic growth for the first half of 2021

Wednesday, August 11, 2021

The first 6 months of 2021 confirm the positioning of Chimcomplex as a regional leader in the chemical industry, the company reporting a net profit of 282.6 million lei (57.7 million Euros) with a turnover of 1.1 billion lei (233 million Euros).   Sales on the foreign market, mostly aimed at European markets accounted for about 78% of total product sales in the first half of ...

 Commission approves acquisition of Telekom Romania by Orange, subject to conditions

Wednesday, August 4, 2021

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The European Commission has approved, under the EU Merger Regulation, the proposed acquisition of Telekom Romania Communications (“TKR”) by Orange SA (“Orange”). The approval is conditional on the divestiture of TKR's 30% minority shareholding in Telekom Romania Mobile Communications (“TRMC”), which is a direct competitor of Orange, a statement ...

OTE accepts EC’s conditions for smoothing sale of RO fix line operator TKR to Orange

Wednesday, August 4, 2021

Hellenic Telecommunications Organization (OTE) on July 29 announced in a statement that it accepts to acquire the 30% stake in Telekom Romania Mobile Communications (TKRM) from Telekom Romania (TKR), as proposed by the European ...

TAROM starts implementing staff restruct

Wednesday, August 4, 2021

 Romania's TAROM national airline is carrying out, starting today, the implementation of a staff restructuring measure that was started in February 2021 and that represents an essential component of the company's recovery plan.According to a press statement, part of the staff restructuring measure, a new organisational chart was developed and approved matching the current and estimated volume of business for the following years, designed to ...

CEC Bank has reported net profit rise by 13 pct, to 208.4 million RON, after H1

Wednesday, August 4, 2021

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 CEC Bank has reported a preliminary net profit worth 208.4 million RON after the first half of the current year, a 13 pct increase over the similar period of last year and over the level provided for in the budget, informs the bank in a release.CEC Bank continued its growth by attracting new clients and granting financing mainly to the private sector, the bank's assets increasing by 7.7 pct since the start of the year, up to 44.4 billion RON, a record ...

Business suspensions advance 17.66pct in H1 2021

Wednesday, August 4, 2021

The number of business suspensions in Romania in the first six months of 2021 was 6,043, up 17.66% y-o-y, according to data published by the National Companies Register Office (ONRC).Most of the suspensions in January - June 2021 were in Bucharest, 659 (up 29.22% y-o-y), with the capital being followed by the counties of Cluj, 327 suspended companies (down 13.49%), Bihor - 276 companies (up 12.65%) and Iasi - 243 (up 12.5%).The fewest suspensions ...

79,734 individuals, companies enter Trade Register in H1 2021

Wednesday, August 4, 2021

The number of registrations of individuals and legal persons increased in the first half of 2021 by 62.55 pct compared to the same period of the previous year, to 79,734, of which 53,844 are limited liability companies (LLCs), according to data centralized by the National Office of the Trade Register (ONRC).Most registrations were accounted to Bucharest, respectively 12,081 (plus 55,54 pct compared to January-June 2020), and in the counties of Cluj - 4,490 (plus ...

Impact Developer & Contractor gets top score in ARIR (re)assessment for investor communications  

Wednesday, August 4, 2021

Impact Developer & Contractor has obtained the maximum score (10) for its investor communications, according to the VEKTOR indicator published by ARIR (The Romanian Investor Relations Association). The review was conducted at company’s request.   VEKTOR is the ...

Arctic Stream makes strong debut on Bucharest Stock Exchange

Wednesday, August 4, 2021

Arctic Stream (AST), a rapidly-growing Romanian IT integrator established in 2017, saw its shares surge by up to 50% on its Bucharest Stock Exchange debut. Arctic Stream’s listing broke a series of ...

Orange Romania reports 6.6% bigger revenues in H1

Wednesday, August 4, 2021

Orange Romania reported a turnover of EUR 268 mln in the second quarter (Q2) of this year, up 11% from the same period in 2020, according to the company's results published on July 29.   In the first six months of the year, the turnover rose by 6.6%, up to EUR 532 mln. Orange Romania had a customer base for its mobile, fixed and TV services of 10,628,000 ...

Romanian startup Qoobiss launches the first fully automated KYC solution for Romanian IDs

Wednesday, August 4, 2021

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* The Qoobiss KYC solution was developed following a 500.000 euro investment and aims to advance the digital identification process   Digital identity verification startup ...

Number of dissolved companies goes up by almost 42% during first 6 months of 2021

Wednesday, August 4, 2021

 The number of companies that were dissolved has gone up by 41.54% during the first semester of 2021, in comparison with the similar period of last year, to up to 32,565 removals, according to the statistics of the National Trade Registry Office (ONRC).By activity, the largest number of companies dissolved was in the retail and wholesale sector, motor vehicles and motorcycles repair - 8,920 (plus 44.83% reported to the period of January-June 2020), ...

Planable: Brands move away from traditional social media platforms, as video content increases by 17% 

Wednesday, August 4, 2021

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Businesses have started to move away from traditional social media platforms such as Facebook, Twitter and Linkedin in the first half of 2021, as companies have increasingly used Instagram as the preferred platform for promoting their brand, according to the latest study by ...

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