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Transilvania Investments profit surges 176pct nine months into 2023
Wednesday, November 22, 2023
Transilvania Investments has reported a net profit of RON 151.99 million for the first nine months of 2023, 176% higher y-o-y.On September 30, the net income of Transilvania Investments was RON 172.42 million, a positive jump of almost 136% y-o-y. Dividends received from the companies in the Transilvania Investments portfolio had an important share in the income, and the increase in dividends from the companies in which the fund holds the majority stake was ...
Antibiotice Iasi, 2.6 times higher net profit 9 months into 2023 v 2022 same period
Wednesday, November 22, 2023
Antibiotice Iasi reported a net profit of 76.7 million RON nine months into 2023, 2.6 times higher than the value recorded in the same period last year, of 29.5 million RON, according to a press release of the company.The turnover obtained by the drug manufacturer from sales on the domestic market and on international markets was 463.4 million RON, up 28 pct compared to 362.6 million RON, the level reached in the same period of 2022.On the Romanian market, ...
Primark to open its third store in Romania
Wednesday, November 22, 2023
Primark, the international fashion retailer, has announced plans to open a third store in Romania, located in Iulius Town Timisoara. The store will be Primark’s first location in the west of the country and is expected to open in the second half of 2024. The news follows Primark’s successful entry into the Romanian market in 2022, with the opening of its first location in ParkLake Shopping Centre, Bucharest. Just six months later, the retailer opened a second store in the ...
Share of German companies in Romania expecting economic situation to deteriorate has almost doubled
Wednesday, November 22, 2023
Only 17.1% of Romanian companies expect the country's economic situation to improve in the next 12 months, as against 22% in spring, while 44.7% consider that the state of the economy will deteriorate, as against 26% in spring, show the results of the aHK Business Outlook for Romania, a survey carried out by the Romanian-German Chamber of Commerce and Industry (aHK Romania).as many as 38% of the respondents are of the opinion that the economic situation of Romania will ...
Association of F-GaS Companies Romania, officially launched
Wednesday, November 22, 2023
The association of F-GaS Companies Romania will contribute to the achievement of a European legislative framework that supports innovation, sustainability and a cleaner future for all, by adapting to new changes and by being actively involved in shaping them, according to a press release issued on Monday.The association of F-GaS Companies Romania was established this month and aims to identify and implement sustainable environmental solutions in this ...
VeroTherm to open its first logistics center in UK
Wednesday, November 22, 2023
Romanian manufacturer of polystyrene and dry mortars, VeroTherm, intends to inaugurate its first logistics center outside the country, in the United Kingdom, aiming to expand the company’s operations into foreign markets. The new logistics center will be established in London, in the vicinity of Wembley Stadium and will serve as a sales and delivery point for VeroTherm products. This initiative is undertaken in partnership with Essential Green ...
Simtel Team advances Group Development with 6 Million lei strategic logistics investment
Wednesday, November 22, 2023
Simtel Team (BVB: SMTL), a Romanian engineering and technology company listed on the aeRO market of the Bucharest Stock Exchange and a national leader in the field of renewable energy, announces the completion of the investment in a new logistics space, in Baicoi, Prahova County, which becomes a supply hub for all activities carried out by the group. “The accelerated development of the company has required reconsidering everything related ...
ING Bank is financing with EUR 21 million Vrancart
Wednesday, November 22, 2023
ING Bank Romania supports with credit facilities totalizing 21.4 million euro the development of Vrancart, one of the largest producers of corrugated board, hygienic-sanitary paper and cardboard packaging on the Romanian market. ING’s funding comprises both working capital facilities and investment loans. In the context of the growing packaging industry, Vrancart aims to strengthen its market position and invest in the acquisition of high-tech equipment, as well ...
dm drogerie markt Romania announces a turnover increase of over 58% in the fiscal year 2022 – 2023
Wednesday, November 22, 2023
dm drogerie markt company marked the end of the fiscal year on September 30, with a significant increase following the implementation of its strategy, the sustained efforts of the entire dm team, and ongoing expansion. The turnover thus reached 1,308,295,008 lei, recording an increase of over 58% compared to the previous year. dm drogerie markt, present in Romania for 16 years, also celebrates one year since the launch of its online ...
Romania: First InvestEU agreement provides €25 million in EIB financing to boost security of supply for medicines
Wednesday, November 15, 2023
EIB loan is expected to enhance local production of medicines Financing agreement promotes innovation in a cohesion region, highlighting EIB’s commitment to equitable growth This agreement is supported by the InvestEU programme, which aims to trigger more than €372 billion in additional investment over the period 2021-2027. The European ...
Digi Communications N.V. reports consolidated revenues of 1.2 billion euros
Wednesday, November 15, 2023
Digi Communications N.V., one of the leading European telecommunications companies, listed on the Bucharest Stock Exchange, reports consolidated revenues (including revenues and other income) of EUR 433.7 million in the third quarter of 2023, a 13% increase compared to the same period of the previous year.Adjusted EBITDA increased by 19% compared to the result from ...
AQUILA reports a net profit of RON 70 million
Wednesday, November 15, 2023
AQUILA (symbol AQ), the market leader in the field of integrated distribution and logistics services for consumer goods in Romania and the Republic of Moldova, concluded the first 9 months of 2023 with growing results, supported by the distribution business segment, which generated approximately 94% of the company’s turnover. AQUILA’s revenues exceeded RON 1.7 billion in the first 9 months of 2023, marking an ...
SIPEX: 4% increase in turnover this year
Wednesday, November 15, 2023
SIPEX, one of the largest distributors of construction and finishes materials from Romania, listed on the Bucharest Stock Exchange, on the AeRO market (stock ...
Safetech Innovations posts a 20.1 million lei turnover at individual level and a net profit of 5.9 million lei in the first nine months of 2023
Wednesday, November 15, 2023
Safetech Innovations (BVB: SAFE), a Romanian cybersecurity company listed on the Bucharest Stock Exchange with offices in Bucharest, London, and Abu Dhabi, posts, at an individual level, a 20.1 million lei turnover, down 4% compared to the same period last year, and a net profit of 5.9 million lei, a 13% appreciation compared to the first nine months of 2022. “In a world where cyber threats are constantly ...
Nearly 48,000 companies struck off register nationwide in first nine months of 2023
Wednesday, November 15, 2023
A total of 47,854 companies were struck off the register nationwide in the first nine months of 2023, 7.9% fewer than in the same period last year, according to statistics from the National Trade Register Office (ONRC).The highest number of companies that suspended their activity in the mentioned interval were from Bucharest municipality - 7,900, down 6.21% compared to January-September 2022.By activity sectors, the highest number of dissolved ...
Aerostar posts RON 61 M in net profit January through September 2023
Wednesday, November 15, 2023
Aerostar recorded, in the first nine months of 2023, a net profit of RON 61.096 million, down 17.3% compared to the same period last year, of RON 73.914 million, according to the financial data sent to the Bucharest Stock Exchange (BVB) on Friday.During the mentioned period, the company recorded a turnover of RON 361.523 million, an increase of 14% compared to the first nine months of last year. Export sales amounted to RON 295,507 million (227,192 in ...
Orsova shipyard closes Q3 2023 on almost RON 4 million in net profit
Wednesday, November 15, 2023
The Orsova Naval Shipyard recorded in the first nine months of 2023 a net profit of RON 3.984 million as against a loss of RON 2.325 million in the same period of 2022, according to data submitted to the Bucharest Stock Exchange (BVB) on Friday.The turnover of the company totalled RON 81.793 million, up 87.11% y-o-y, and the gross profit was RON 4.462 million as against a gross loss of RON 2.249 million on September 30, 2022.January-September ...
MedLife reports a turnover of RON 1.66 billion in the first nine months of the year
Wednesday, November 15, 2023
MedLife, the largest private medical services network in Romania, presents the financial results for the third quarter of the current year. Thus, in the first nine months of the year, the company recorded a pro forma turnover of RON 1.66 billion, an increase of 25.4% compared to the same period last year. This consistent growth demonstrates the Group’s ability to remain one of the most important players in the market and adapt to any ...
2023 National Company Ranking: Aggregate turnover of businesses on top ten spots at almost 280 bn euros
Wednesday, November 8, 2023
The companies positioned on the top ten spots of the 2023 National Company Ranking have a combined turnover of almost 280 billion euros, and their operating profit amounts to about 27 billion euros, shows data released on Thursday by Romania's Chamber of Commerce and Industry (CCIR).This year, a number of 13,030 companies were included in the first ten positions of the dedicated ranking. Their profit accounts for 9.6 percent of the total ...
Holcim Romania inaugurates new aggregates plant
Wednesday, November 8, 2023
Holcim Romania has opened a new EUR3m aggregates plant in Neudorf, Arad province, western Romania. The first deliveries of the new plant have been completed this month, said Holcim quoted by ...