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Telekom Romania reports performance indicators for Q2’19

Wednesday, August 14, 2019

Telekom Romania group announces key performance indicators in the second quarter of 2019, ended June 30, 2019, as reported today by OTE Group. Consolidated revenues of Telekom Romania group in Q2’19 reached EUR 231.2mn, which represents an increase by 6.7% compared to Q1’19 and a slight decrease by 2.8% YoY, also driven by lower handset revenues, ...

Insolvencies down, strike-offs up in H1 2019 in Romania; big companies facing hardships

Wednesday, August 14, 2019


Company insolvencies in Romania declined 33pct in H1 2019 , but the decrease is nullified by an increase in stricken-off companies, while delays in payment increased significantly, and big companies are facing with a difficult economic environment, according to a recent Coface study."A new study conducted by Coface Romania in the development of insolvencies in Romania in H1 2019 points to a decrease in the number of insolvent companies in by 33pct amidst a ...

Antibiotice Iasi posts 11 pct higher year-on-year net profit in H1 2019

Wednesday, August 14, 2019

Medical drugs manufacturer Antibiotice Iasi (ATB) reported a net profit of RON 22.3 million in the first six months of 2019, an 11 percent increase compared to the same period of 2018, with sales revenues of RON 172.3 million, 9 percent higher than the corresponding period of the previous year, according to the report published by the company on the Bucharest Stock Exchange website. At the end of June 2019, spending on raw materials and consumables had ...

MEDIjobs opens first US office, gets USD 900,000 investment

Wednesday, August 14, 2019

MEDIjobs, the biggest medical recruitment platform in Romania, has obtained USD 900,000 in a new funding round led by Gapminder VC and other business angel investors. The company’s first angel investor was doctor Wargha Enayati last year. In July, MEDIjobs opened its first office in New York, US, and already has 63 clients who together need to recruit over 1,000 people annually. The company plans to consolidate its presence on the US East Coast ...

Antibiotice Iasi becomes the 15th member of the Association for Relations with Investors on the Stock Exchange

Wednesday, August 7, 2019


Antiobiotice Iasi has become the 15th member of the Association for Relations with Investors on the Stock exchange of Romania (ARIR), organization set up in November 2018,a press release of the drugs producer says. Antibiotice has in its portfolio over 150 generic medicaments for infectious diseases, as well as for those who suffer from cardio-vascular, derma, digestive pathologies, of the central nervous system and women’s ...

Uber opens in Bucharest its biggest driver & courier support center in CEE 

Wednesday, August 7, 2019

Uber has opened the largest driver support center in Central & Eastern Europe in Bucharest, following an investment of a quarter million dollars, http://business-review.eu/ informs. The new 320 sqm space has been designed based on international standards for Uber support centers, the company announced on Tuesday. It will host a team of 11 experts and has the capacity to serve up to 2,500 drivers and couriers per ...

BestJobs: Job application rates up 18 pct in July, financial sector sees most applicants

Wednesday, August 7, 2019

Although July was the peak of the holiday season, Romanians applied for new jobs at high rates, as companies recorded 18 percent more job applications compared to June and 5 percent more than in July 2018, according to data provided by BestJobs quoted by http://business-review.eu/. Industries with the most number of applicants in July were Financial/Accounting (over 20,000), BPO (over 17,000), engineering (over 15,000), Transport (over 14,000), Human ...

Digi Communications contracts EUR 150 mln credit facility for investments

Wednesday, August 7, 2019

Romanian telecom group Digi Communications concluded a new contract for a multi-currency syndicated credit facility worth EUR 150 million, according to a company press release. Citibank, ING Bank and UniCredit Bank arranged this financing for the telecom group. The new syndicated facility contract has a duration of 12 months, with the possibility of extension up to 24 months from the date of conclusion. The agreed amount is EUR ...

Chinese grain trader boosts business in Romania by 50%

Wednesday, August 7, 2019


The Romanian subsidiary of Chinese group COFCO International (which took over Nidera and its operations in Romania, in 2016) ended 2018 with a turnover of RON 3.9 billion (EUR 839 million), 50% higher than one year ...

Vodafone Romania officially joins forces with UPC

Wednesday, August 7, 2019

Vodafone Romania and UPC have closed the acquisition process, following the European Commission’s approval in July of Vodafone Group’s acquisition of Liberty Global’s operations in Romania, Germany, Czech Republic and Hungary in a EUR 18.4 billion transaction.The finalisation of the transaction represents a new journey for both Vodafone Romania and UPC as, from now on, the two companies are not competitors anymore. The joint team has now the ...

Group Rondo Ganahl in the acquisition of Transilvania Pack & Print  

Wednesday, August 7, 2019

Austrian group Rondo Ganahl has bought a 60% participation in the Romanian printing company Transilvania Pack & Print S.A. from Offsetdruckerei Schwarzach GmbH, part of VBG group. The transaction closed at the beginning of June 2019. Deloitte Romania and Reff & ...

PwC study: CEO turnover at record high

Wednesday, August 7, 2019

Almost 17.5 percent of the executive directors (CEOs) of the world’s largest 2,500 public companies left their offices last year, according to the 2018 CEO Success study, recently released by PwC and Strategy& cited by http://business-review.eu/. The turnover rate hit a 15-year high of the 19 years covered by the reports. Over two thirds of the replacements occurred because of succession plans, while 20 percent of the executives were forced ...

Over 526k women shareholders or associates with companies in Romania, at end June

Wednesday, July 31, 2019


The number of the women shareholders or associates with the companies in Romania at the end of June 2019 counted for 526,007, the ones having a 37.47 pct share in the figure of the total shareholders or associates, the National Trade Register Office (ONRC) informs.So, according to the ONRC data the men shareholders or associates parked at 877,657 (a 62.53 pct share) with the 964,747 acting businesses in Romania. In the above-mentioned period, the total number of ...

Infosys opens cyber security center in Bucharest

Wednesday, July 31, 2019

Indian group Infosys, one of the global leaders in consulting and digital services, opened a cyber security center in Bucharest as an extension of its local Digital Innovation Center. The Cyber Security Center will provide comprehensive 24/7 real-time cyber monitoring and protection services to support European and global companies in their digital transformation efforts. These services – which include monitoring, crisis management and remediation, potential threat ...

Medicover and Synevo’s revenues in Romania, over 40% increase in the first half of the year  

Wednesday, July 31, 2019

Medicover, an international company providing healthcare and diagnostic services has released the interim report for the first half of the year. The company reported a 24.6% revenue increase compared with the same period of last year to EUR 402.6 million. Medicover is active in Romania through both Healthcare and Diagnostic Services. “The strong start to the new year continued also in the second quarter. Our strategy to grow private pay Fee-For-Service, both organically and ...

Vodafone Romania has new executive management team

Wednesday, July 31, 2019

Vodafone Romania has announced on Monday the new Executive Management Team for both Vodafone and UPC Romania following the recent approval of European Commission for the transaction between the two companies. The members of the Executive Management Team are reporting to Murielle Lorilloux, CEO of both ...

Vodafone Romania recorded service revenues of EUR 158.6 million in the second quarter, up 0.2 percent

Wednesday, July 31, 2019

Vodafone Romania announces the key performance indicators for the quarter ended June 30th, 2019, as reported today by Vodafone Group Plc. Starting 1st of April 2019 Vodafone Group, and so Vodafone Romania, is reporting under new international accounting standards IFRS15 and IFRS16. Under the new accounting standards, Total Revenue declined by -2.7% compared to the same period of last year. The Service Revenue is at EURO 158.6 million and continues to grow on an underlying basis. The ...

Groupe Renault Romania, OMV Petrom and Continental ranked as Romania's best employers

Wednesday, July 31, 2019

Groupe Renault Romania, OMV Petrom and Continental top the list of Romania's best employers in the first edition of the "100 Best Employers in the Economy" yearbook put out by Capital Media Production, and which ranks the best to work for companies according to several criteria: number of employees, net average wage, benefits offered to employees.Next on the list are Bosch Group and Orange; the top five companies have a combined number of 332,394 employees who currently pay taxes ...

Auchan Romania to take over Petrom filling station stores

Wednesday, July 31, 2019

The Competition Council has authorized the takeover by Auchan Romania SA of the food and non-food Petrom filling station stores, the competition authority informed in a release.A member of Auchan Holding SA, retailer Auchan Romania operates non-specialized stores that mainly sell food, beverages and tobacco. In Romania, Auchan currently operates through 33 hypermarkets and 22 MyAuchan convenience stores.The main activity of OMV Petrom Marketing SRL is "Retail of motor ...

Orange Romania posts declining turnover on Q2 2019

Wednesday, July 31, 2019


In the 2nd quarter of 2019 (April-June), Orange Romania has posted a turnover of EUR 268.5 million, down by 2.4% as against the same period last year, mainly due to the amending Mobile Termination Rates and due to the slight decline of the device sales. On June 30, 2019, Orange Romania offered mobile, fixed and TV service for 10,736,700 customers, up by 2 percent as against the second quarter of last year. The fixed services continued the positive trend in the previous quarters. ...

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