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316 companies and authorised individuals enter insolvency in January 2021

Wednesday, March 3, 2021

The number of companies and authorised individuals (PFA) that entered insolvency has gone down by 31.75% in January 2021, in comparison with the first month of 2020, 316 companies being registered as insolvent, according to the data published on the website of the National Trade Register Office (ONRC).Most PFA's that entered insolvency were registered in Bucharest, namely 60, dropping by 25% from January 2020.Regarding activity areas, the largest ...

Sphera Franchise Group achieves consolidated sales in Q4 up by 5.3% compared to Q3

Wednesday, March 3, 2021

Sphera Franchise Group (“Sphera”) reported consolidated sales of RON 710.8 million in 2020, representing a decrease of 25.6% compared to the performance in 2019. The result is well-above the revised estimate, as communicated in the current report published on October 22nd, 2020. The Group’s consolidated sales in the Q4 2020 amounted to RON 208.4 million, a 5.3% quarter-on-quarter ...

Railway group Grampet expands in Slovenia

Wednesday, March 3, 2021

Grampet Group, the largest railway group and private logistics operator in Romania and Central and South-Eastern Europe, controlled by local businessman Gruia Stoica, has launched operations in Slovenia. The Group thus expands its rail freight division to the tenth country in the region.   "The expansion in Slovenia is part of the strategy to streamline and interconnect the services we provide to our ...

Carrefour names former French Air Force officer at the helm of its business in Romania

Wednesday, March 3, 2021

French retailer Carrefour has appointed Julien Munch as the new CEO of its operations in Romania. As of March 1, he replaces Jean Richard de Latour, who will take on a new role at group level. Julien Munch will report to François Melchior de Polignac, Executive Director for Northern and Eastern Europe at Carrefour. de Polignac was also CEO of Carrefour Romania in the ...

Telekom Romania: performance indicators for the financial year of 2020

Wednesday, March 3, 2021

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Telekom Romania group announces key performance indicators for the financial year of 2020, ended December 31, 2020.The company achieved continued growth in EBITDA After Lease, which increased by 6.6% YoY to €150.7 mln., the second consecutive year of EBITDA growth.   At the same time, adjusted Free Cash Flow sharply increased and returned to positive cash generation in 2020. This improvement came ...

Antibiotice Iasi makes 28.33 million RON, gross profit, in 2020

Wednesday, March 3, 2021

The pharmaceutical producer Antibiotice Iasi has made a gross profit of 28.33 million RON last year, up by 16% in comparison with the value from the rectified Income and Expenses Budget, according to the preliminary financial results sent to the Bucharest Stock Exchange (BVB).The company reported a total income of 380.39 million RON and total spending of 352.06 million RON.The value of sales on the international markets in the year 2020 was of 158.27 ...

Coface Study: Insolvencies in Romania down by 13% in 2020 compared to 2019

Wednesday, February 24, 2021

In 2020, 5,564 new insolvency proceedings were opened, with -13% below the level registered in the previous year, reads the latest study by Coface Romania. Last year also reported the minimums of the last decade in terms of payment incidents (only RON 2.2 billion, -29% vs. 2019) and the regeneration ratio (OUT: IN = 1.19) in the business environment. All these positive developments are exceptional, given that they were recorded in a year with the most severe economic ...

TESSERACT ARCHITECTURE: 1 million EUR turnover and 500.000 sqm of hospitals & industrial spaces  

Wednesday, February 24, 2021

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* The architecture studio is established by young entrepreneur Raluca Soaita and it is one of the very few in the Central and Eastern Europe region specialized in healthcare architecture   TESSERACT ARCHITECTURE, a young architecture studio established in 2015 by architect Raluca Soaita, reaches an annual turnover of almost 1 million euros, which represents a 5 times ...

Innobyte estimates a turnover of 2 million euros in 2021

Wednesday, February 24, 2021

Innobyte, a Romanian software development company specialized in eCommerce, ended 2020 with a turnover of EUR 1.8 million, 55 percent higher than in 2019. The favorable context and dynamics of online offer premises for maintaining the growth trend. For 2021 the company’s representatives estimate that Innobyte will exceed the turnover of EUR 2 million, and EBITDA will reach EUR 460,000.   The development of the ...

Essa Group plans EUR 2 M investment in Q1 2021

Wednesday, February 24, 2021

ESSA Group, a player in trade marketing and sales services on the Romanian market, has several ongoing projects to consolidate its business lines, after a year full of challenges – 2020, where the whole business had to be recalibrated and proper actions needed to be taken according to the pandemic context. Founded a decade ago by Eugen Saulea, ESSA Group reported a turnover of 15 million euros in 2020, 5% more compared to the previous ...

Chamber of Deputies, Senate heads, meeting with IVECO representatives: Investments, current governing coalition's priority

Wednesday, February 24, 2021

 Senate President Anca Dragu and Chamber of Deputies Speaker Ludovic Orban had a meeting with the representatives of IVECO in Parliament on Friday, on which occasion it was emphasized that investments are a priority for the current governing coalition."Today, in Parliament, together with the Senate President, Anca Dragu, we had a meeting with the representatives of IVECO, a company that decided, in a difficult period, related to the coronavirus pandemic, to ...

Impact announces record revenues of 42,7 million EUR for 2020

Wednesday, February 24, 2021

Impact Developer & Contractor closed the year 2020 with revenues from the sale of real estate properties worth 42,7 million EUR, up 29,4% compared to 2019, representing the best result of the developer in the last decade. In a pandemic year, the company sold a total of 369 units (31,191 sqm built area), out of which 205 were contracted in Greenfield Residence ...

Carrefour reports 2.1% like-for-like sale increase in Romania

Wednesday, February 24, 2021

French group Carrefour announced its sales in Romania rose by 3.6%, or 2.1% like-for-like (filtering out the effect of new stores), to EUR 2.3 billion in 2020.   In the fourth quarter of the year, Carrefour's local sales increased by 3.6% year-on-year to EUR 656 ...

Josephine Payne to lead Ford production operations in Romania

Wednesday, February 24, 2021

 Ford announced on Thursday the appointment of Josephine Payne as chairman of Ford Romania and CEO of the Craiova Ford factory, starting with the 1st of April 2021.According to a press release sent by the company, Josephine Payne will be replacing Ian Pearson, who will step down from his professional activity, as of May 1st 2021, after 31 years spent within Ford Motor Company.Josephine Payne came to Romania in March 2018 from the Dagenham factory ...

DEICHMANN to open a new store in Colosseum Mall

Wednesday, February 24, 2021

Colosseum Mall signed with the German retailer DEICHMANN to open a 500 s qm store, as part of the current expansion plan of the commercial center.   The leader of the EU footwear market, with a network of over 100 stores across Romania, DEICHMANN comes one step closer to the community of North-West Bucharest, in an area of continous rising retail and residential ...

Farmaceutica Remedia reaches 37.7 million RON net profit in 2020

Wednesday, February 17, 2021

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Farmaceutica Remedia ended 2020 with a net profit of 37.78 million RON, over 15 times larger than the one in 2019, of 2.441 million RON, according to the data sent on Tuesday by the Bucharest Stock Exchange (BVB).The total revenues increased to 483.115 million RON (452.522 million RON in 2019) and spending to 440.344 million RON (449.399 million RON in 2019).The company's turnover has dropped by 1.1 percent, from 446.411 million RON in 2019 to ...

Xerox appoints Jacques-Edouard Gueden EVP and President, EMEA operations

Wednesday, February 17, 2021

Xerox, a global workplace technology company, announced Jacques-Edouard Gueden as executive vice president and president of Europe, Middle East & Africa (EMEA) Operations, a role he has filled on an interim basis since the end of September. He reports to John Visentin, Xerox vice chairman and CEO.   “Jacques-Edouard will be responsible for Xerox’s go-to-market teams across EMEA to bring Xerox’s ...

In 2020, companies used only 20% of the amounts they budgeted for training

Wednesday, February 17, 2021

Digital Stack, the division of the Informal School of IT group, destined for the alternative education segment in the B2B sphere, relies on a return of companies’ investments in staff training in the context in which companies used only 20 % of the amounts they budgeted, focusing strictly on IT and digitization courses related to their core business.   Digital Stack is a division launched in September last year ...

Mandra Oil Factory for sale in eastern Romania

Wednesday, February 17, 2021

Mandra Oil Factory, the former Barlad Oil Enterprise, is seeking investors to put its assets back into operation and develop, insolvency house CITR ...

UiPath, the only Romanian Unicorn ranks in 26th place with a valuation of USD 10.20 billion

Wednesday, February 17, 2021

Data researched by Trading Platforms UK, indicates that the global unicorns are now cumulatively valued at $1.7 trillion as of January 2021. The valuation is for the 528 total global unicorns. With a cumulative value of $410 billion, the top ten ...

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