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Biofarm had a net profit increase of 22%, 36.4 million lei for Q1

Wednesday, August 18, 2021

Biofarm, one of the biggest producers of drugs and food supplements in Romania, had an increase of the net profit of 22%, 36.4 million lei, while the net income from sales achieved in the first part of the year increased by 14%, 117.98 million lei. In Q1, the share of export sales was approximately 2.1% of the total net sales of Biofarm. The company products were exported to five countries: the Republic of Moldova, Hungary, Russia, ...

Avioane Craiova SA records 11.82 million RON in loss in H1 2021

Wednesday, August 18, 2021

Avioane Craiova SA recorded a net loss of 11.82 million RON in the first half of the year, after recording a net profit of 489,857 RON in the similar period of 2020, according to the half-year report sent to the Bucharest Stock Exchange (BVB).Avioane Craiova had expenses worth 34.2 million RON in the first half of the year, increasing over the 14.74 million RON recorded in the similar period of last year.The company reported incomes of 22.40 million ...

British American Tobacco pays by 18% more taxes and duties to state budget during H1 2021

Wednesday, August 18, 2021

The British American Tobacco (BAT) Company contributed to Romania's state budget with almost 5 billion RON during the first half of 2021, going up by approximately 700 million RON (+18%) from the sum paid during H1 of last year, according to a company's press release on Monday.In 2020, BAT was the largest taxpayer to Romania's budget, with a contribution of almost 9.6 billion RON (2 billion Euro) in taxes and duties. This was possible due to record drops of ...

Competition Council authorises Wendel group's takeover of Propak Ambalaj Uretim ve Pazarlama

Wednesday, August 18, 2021

Romania's Competition Council has authorised a transaction whereby the Wendel Group, through Constantia Flexibles International GmbH, takes over Propak Ambalaj Uretim ve Pazarlama AS, Turkey.Wendel is an investment group that holds a portfolio of companies operating in a variety of industries, such as flexible packaging manufacturing, certification and verification, paint manufacturing and distribution, training services, global mobile telecommunications ...

EY: Romania’s M&A market remained below EUR 1 bln in H1

Wednesday, August 18, 2021

Consultancy firm Ernst & Young (EY) provided the most pessimistic estimate for Romania’s M&A market in H1: 69 deals summing up to USD 1.1 bln, or not even EUR 1 bln, Ziarul ...

Coface Study: Insolvencies in Romania increased in the first semester of 2021 by 23% compared to the same period last year

Wednesday, August 18, 2021

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The number of newly registered companies, of LTD type, increased by 58% in H1 2021 compared to H1 2020   Bucharest, August 12th, 2021 – The latest Coface Romania study shows that in the first six months of 2021, 3,033 new insolvency proceedings were opened, +23% above the level recorded in the same period of the previous year. Insolvencies opened in the first half of this year have returned close to ...

ClusterPower has started the construction of the largest data center in Romania

Wednesday, August 18, 2021

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ClusterPower started in July the works at the largest data center in Romania and the first hyperscale data center in the region in Mischii, Dolj County.   The first phase of the project involves building the utility infrastructure for the IT equipment. This includes  casting the foundation, construction of the power plant and the first unit of the project. The data center will become the strongest ...

OTP Bank Romania: The financial results for the first semester of 2021

Wednesday, August 18, 2021

OTP Group announces the financial results for the first semester of 2021. According to the report published in Budapest, which presents the consolidated results adjusted in accordance with the Group´s standards, OTP Bank Romania has registered an after tax profit of RON 27 million during the first half of 2021, marking an increase of nearly 50% compared to the first half of last ...

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 ...

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