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Medlife opens a second hyperclinic in Galati

Wednesday, December 4, 2019

MedLife continues to expand countrywide and has opened a second hyperclinic in Galati, southeastern Romania. The investment of the new medical unit, providing outpatient and imaging services, mounts to EUR 1.5 million. MedLife Hyperclinic Gala?i (24A Nicolae B?lcescu street) is stretching on  550-sqm area and provides services for 17 medical specialties, including pediatrics, pediatric cardiology, neurosurgery, pediatric orthopedics and ...

Top 5 breakthrough brands of 2019 în Romania

Wednesday, December 4, 2019

 A predicted 7% increase for the country’s retail market (the biggest increase in the EU) made Romania a magnet for international brands looking for new opportunities. Here is a pick of 5 international brands that came to Romania in 2019. VICTORIA’S SECRET The American designer, manufacturer and marketer of women’s lingerie, womenswear and beauty ...

Abu Dhabi Airports will evaluate airport development possibilities in Romania

Wednesday, November 27, 2019

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Airport operator Abu Dhabi Airports signed a memorandum with the Romanian company South Development Group on Tuesday, to analyze opportunities to manage and develop airports in Romania. This will be the first action outside the United Arab Emirates, Reuters informs. At present, Abu Dhabi Airports, a company fully owned by Abu Dhabi government, operates in 5 airports in UAE, including the main international airport in the capital of Abu Dhabi emirate. “We analyze ...

Erhan Savas, appointed general manager of ABB Romania and Moldova

Wednesday, November 27, 2019

Erhan Savas was appointed general manager of equipment manufacturer ABB in Romania, succeeding Tomasz Wolanowski, who spent 6 years in this position, and his role also includes the position of local business manager for electrification with supervision responsibility for Moldova too. Erhan Savas, a German citizen of Turkish origin, has a Master's degree in management from Mannheim University, Germany. He joined ABB team in 2008, holding various positions of great responsibility at ...

Dent Estet, from MedLife group reports business of 46.77 million lei in first 9 months

Wednesday, November 27, 2019

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Dent Estet, one of the biggest players in the field of dental medical services in Romania, reported a business figure of 46.77 million lei in the first 9 months, on the rise by 34% against the same period of 2018. Since 2016, Dent Estet is part of MedLife group, which owns 60% of shares, the rest of 40% being held by the founder, Dr. Oana Taban. “In point of business, Dent Estet group reconfirms the market leader position at national level and continues to develop ...

Sika takes over major RO construction materials producer AdePlast

Wednesday, November 27, 2019

Swiss group Sika, one of the major players in the global market of chemical building materials, will take over AdePlast, one of the biggest Romanian construction materials producers. The sale of the company comes after the death of AdePlast founder and owner Marcel B?rbu?, in February this year. The business was inherited by his three sons: Alexander (28), Thomas (26) and Marcel (22), who said that they plan to pursue own projects. With 470 employees, AdePlast reported a ...

ZF: UiPath surpasses OMV Petrom as most valuable Romanian company

Wednesday, November 27, 2019

UiPath, the Romanian-born Robotic Process Automation (RPA) firm that has its corporate headquarters in New York, is the most valuable Romanian company this year, according to the Top 100 Most Valuable Companies ranking compiled ...

Druid SA, named startup of the year in Central and Eastern Europe

Wednesday, November 27, 2019

Druid SA, the Romanian software company focused on artificial intelligence, was named Startup of the Year in Central and Eastern Europe at the 2019 Central European Startup Awards (CESA) Grand Finale - Ecosystem Summit & Awards Ceremony organized in Bucharest. More than 500 entrepreneurs and professionals from Romania and Central and Eastern Europe participated in the CESA Grand Finale on November 21. The other big winner from Romania was Techcelerator, which got the ...

JYSK sees 20% increase in sales in Romania in financial year 2019

Wednesday, November 27, 2019

Danish furniture and home decor retailer JYSK reported record results in Romania in the financial year ended on August 31, 2019, as its turnover went up by 20.5% compared to the previous year, to RON 582 million (EUR 123 mln). The gross profit increased by 12.8%, to RON 75.6 mln (EUR 16 mln), the company announced in a press release. The total number of orders increased by 12.6% over the previous year, to over 4 million. In 2019, JYSK Romania opened 15 new stores, expanding ...

KeysFin: aggregate turnover of companies in Romania to rise by 5% this year

Wednesday, November 27, 2019

The aggregate turnover of companies in Romania increased by 71% from 2009 until 2018 (or an average annual growth rate of 5.5%), and should advance by another 5% in 2019 according to  the annual study "Business conditions in Romania" launched by local business intelligence firm KeysFin. The dynamic is in line with the 78% advance of the nominal GDP over the ten-year period, while it should be a bit stronger than estimated by KeysFin in 2019 when the nominal GDP is heading toward ...

Profits of biggest Romanian listed companies up 15% yoy in Jan-Sep 2019

Wednesday, November 27, 2019

The aggregated net profits of the biggest companies listed on the Bucharest Stock Exchange (BVB) increased by 15% in January-September compared to the same period last year, boosting investors’ expectations for robust dividends to be paid in 2020. The first-tier companies listed at BVB ended the first nine months of 2019 with total revenues of RON 47 billion (EUR 10 bln), up 12.7% compared to the same period of the previous year, while their total net profits increased by 15.4% ...

Business outsourcing services industry in RO hits EUR 4.5 bln in 2018

Wednesday, November 20, 2019

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The business outsourcing services industry has been one of the most dynamic in Romania, in recent years, reaching revenues of over EUR 4.5 billion in 2018, up 12.5% from EUR 4 billion in 2017, according to estimates of the Business Services Leaders Association in Romania (ABSL). Some 280 companies and 131,000 employees are active in this field, accounting for 2.4% of the total employees in the Romanian economy, up from 1.5% in 2017. The number of employees will increase by ...

EC rules that CFR received illegal state aid

Wednesday, November 20, 2019

The European Commission (EC) has decided that the Romanian Government’s decision to write off EUR 400 million worth of debt that state-owned cargo railway operator CFR Marfa owed to the railway infrastructure company CFR, also controlled by the state, in 2013, represented illegal state ...

IAR Brasov profit increased 2.4 times in the first nine months

Wednesday, November 20, 2019

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IAR Brasov reported for the first nine months of 2019 net profit of 49.531 million lei, 2.4 times higher compared to the similar period last year, according to data submitted to the Bucharest Stock Exchange Friday.The turnover of the company increased nearly twice and reached 297.22 million lei.On 30 September, IAR had current liabilities amounting to 49.46 million lei. Assets totaled 319.77 million lei.IAR Brasov is a aeronautical tradition deeply rooted ...

Antibiotice Iasi posts 10 pct increase in gross profit in the first 9 months of 2019

Wednesday, November 20, 2019

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Antibiotice Iasi’s financial results for the first 9 months of 2019 indicate a 10 percent increase in gross profit, compared to the value recorded in the same period of 2018, reaching RON 24.15 million. The company’s operating profit reached RON 27.58 million, 11 percent higher compared to the value registered on September 30, 2018. Sales revenues reached RON 242.41 million, a level comparable to the same period of the previous year. During the analyzed period, ...

MedLife reports 20% higher revenues in Jan-Sep

Wednesday, November 20, 2019

MedLife Group, the leader of the private medical services market in Romania, reported consolidated sales of RON 711 million (EUR 150 million) in the first nine months of this year, up by 22.7% compared to the same period of 2018. The group’s clinics increased their sales by 30% while hospitals were up 23%. The corporate division also saw 19% higher sales and the laboratories increased their revenues by 16%, according to the group’s report. “The first 9 ...

Elite Business Women: “The number one challenge for women entrepreneurs is the lack of money to grow or open a business”

Wednesday, November 20, 2019

With over 10,000 members and 200 businesses in its portfolio, Elite Business Women, the biggest club for women in business in Romania, has launched the first investment fund dedicated exclusively to women, called the Elite Business Women Investment Fund, with the purpose of supporting of women who choose the entrepreneurial path. BR talked to Bianca Tudor, Founder of EBW Investment Fund, and found out more about the project and the idea behind ...

BR ANALYSIS. Brexit woes testing resilience of startup industry

Wednesday, November 20, 2019

As the UK’s exit from the European Union has been delayed for the third time this year, with the latest deadline set at January 31 2020, funding activity for startups has started to shrink amid ongoing uncertainties regarding the economic terms of the Brexit deal. Romania’s startup ecosystem could host some companies and founders looking to relocate from the UK, but while the country has some strong points, they may not be enough for businesses to move here following ...

Constructions, tourism and industry have a deficit of over one million employees

Wednesday, November 13, 2019

Over one million employees are necessary in constructions, tourism and industry in Romania, and due to the lack of workforce, six out of ten business people will bring personnel from abroad, shows a series of recent studies, quoted by one of the most important suppliers of software solutions for the management of the production process of a company (ERP) and for the efficient management of business (CRM).In this context, the representatives of SoftOne technologies ...

Vodafone Romania reports the financial results for the Quarter ended September 30th, 2019

Wednesday, November 13, 2019

Vodafone Romania announces the key performance indicators for the quarter ended September 30th, 2019, as reported today by Vodafone Group Plc. Following the acquisition of UPC Romania starting with 31st of July 2019, the results for this quarter include also the reported figures of UPC Romania for period August and September 2019. Consolidated total revenue of EUR 232 million in the quarter ended September 30th, 2019, down 0.1% on an organic basis ...

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