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Companies

MedLife posts 4% higher profit in H1

Wednesday, August 19, 2020

MedLife Group, the leading private medical services provider in Romania, reported a profit of RON 10.9 million (EUR 2.1 mln) for the first half of this year, up 4.4% compared to the same period last year. The group's business remained roughly steady at RON 469.5 mln (EUR 97 mln). In January-June 2020, the group's operating revenues were RON 471.2 mln, down ...

Antibiotice posts H1 net profit worth 19.14 million RON, down by 14 pct

Wednesday, August 19, 2020

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The Romanian medicine manufacturer Antibiotice Iasi has achieved a net profit of 19.14 million RON in the first six months, down 14 pct compared to the same period last year, when it recorded a net profit of 22.31 million RON, according to a company statement.According to the source, sales revenues, i.e. revenues from the sale of pharmaceutical products to domestic and external partners, made in the first six months were 146.38 million RON, which represents 85 pct ...

E.ON builds EUR 1.9 mln PV roof for major Romanian construction materials factory

Wednesday, August 19, 2020

The electricity and natural gas supplier E.ON Energie Romania, a member of the German group E.ON, completed the construction of a photovoltaic power plant within the industrial park operated by the construction materials manufacturer TeraPlast Bistrita, following an investment estimated at EUR 1.9 mln. The project includes over 7,000 photovoltaic modules installed on the roofs of ...

Alro reports three times higher profit

Wednesday, August 19, 2020

Alro Group, the largest aluminum producer in Romania and one of the largest aluminum producers in Europe, reported a RON 253.6 mln (EUR 52.4 mln) net profit in the first half of the year, three times more than that recorded in the same period last year. And this was despite its sales decreasing by 10%, to RON 1.36 bln (EUR 280 ...

Continental Romania invests 2.5 mln euro in power generation system at Timisoara plant

Wednesday, August 19, 2020

The Romanian unit of German automotive parts supplier Continental said on Wednesday that it has invested 2.5 million euro ($2.95 million) in a  power generation system at its electronic components plant in Timisoara. The system provides 38% of the total energy required at the manufacturing facility and ensures increased efficiency, sustainability and optimized costs while having a positive impact on the environment, ...

Cisco Romania appoints new general manager

Wednesday, August 19, 2020

US tech group Cisco has named Romanian Paul Maravei as general manager of its local subsidiary, Cisco Romania. Maravei started his mandate on August 1, replacing Dorin Pena, who was promoted to a regional role, after managing the local operations for almost seven years. Paul Maravei has over 20 years of experience in sales and management within the company. ...

Sonimpex registered the trademark ‘ Topoloveni’ with OSIM

Wednesday, August 12, 2020

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Sonimpex registered the trademark Topoloveni with State Office of Inventions and Trademarks (OSIM) for several categories of products such as jams, preserves, ‘zacusca ‘ ( Romanian dish made of eggplants and tomatoes) tomato paste, ‘sarmale’ (meat rolled in cabbage leaves), pastry and confectioner’s produce which include jam or preserve, as well as a longlist of vegetables and fresh fruits, according to a press release of the company, ...

Distribution companies report business declines up to 100pct, seek gov't support

Wednesday, August 12, 2020

Romanian distribution companies are asking the government for support as the turnover in the sector decreased between 20% and 100% after the closure of the HoReCa system, the main trade channel for these companies, according to executives of the Association of Romanian Distribution Companies (ACDBR)."The Association of Romanian Distribution Companies has signaled since the beginning of April the difficulties faced by distributors of consumer goods generated ...

Aerostar Bacau to ensure maintenance of Romania's F-16 jets

Wednesday, August 12, 2020

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 Romanian aircraft construction and repair company Aerostar has been designated as provider of maintenance services for the country's F-16 fighter jets, the defence ministry announced. By signing a collaboration protocol with the Romanian Air Force, Aerostar will ensure the concentration of all of the necessary resources in a single repair and maintenance centre for the F-16 multi-role combat aircraft on the Romanian territory,  the ...

Tarom starts cutting personnel in two weeks

Wednesday, August 12, 2020

Romanian national air carrier Tarom will start personnel cuts within two weeks after the Government formally endorses the decision. Some 700 of its 1,800 employees will lose their jobs, according to the restructuring plan adopted for a EUR 36.7 mln state aid requested last year and received earlier this ...

Isopan Est reached a turnover of EUR 21 million in the first half of the year

Wednesday, August 12, 2020

Isopan Est, the largest producer of thermal insulation panels in Romania, part of the Italian group Isopan, registered a 6% increase in production volume in the first half of the year, reaching a total of 1.3 million square meters of panels produced at the Pope?ti-Leordeni factory. At the same time, the company’s profitability increased by 80%. The increase in production was, on average, constant during the first six months of the year, except in ...

Nagarro Holding and iQuest Group join forces in Romania

Wednesday, August 12, 2020

Nagarro, a global leader in digital engineering and technology solutions owned by the German group Allgeier SE, and iQuest, a company specializing in software development and part of the same group, will join forces in Romania. The new local organization will bring together over 800 employees. The merger between iQuest Group and Nagarro is part of the business strategy of Allgeier SE, a company listed on the Frankfurt Stock Exchange. The strategy aims ...

Vodafone Romania launches new platform with content related to technology

Wednesday, August 12, 2020

Vodafone Romania launches its own platform with original and fresh content about the latest technology trends and launches. Starting this August, people will have the opportunity to discover reviews of the newly launched smartphones available in Vodafone’s portfolio, the latest news related to technology and also tips & tricks about how they can use technology at its full potential. The newest content platform launched in Romania is ...

AFI Europe Romania signs new agreement for the purchase of NEPI Rockcastle’s office portfolio in Romania

Wednesday, August 12, 2020

AFI Europe NV has concluded a new agreement with NEPI, on 5th August 2020, for the purchase of 4 Class A office projects in Romania, with a total GLA of 118,500 sqm. The transaction value is of EUR 290 million and the portfolio’s takeover is scheduled to be finalized within the next four months. “AFI Europe Romania remains committed to developing its strong portfolio on the local market. This acquisition is ...

EBITDA growth and nearly stable revenues for Telekom Romania in Q2 2020, despite COVID-19 crisis

Wednesday, August 12, 2020

Telekom Romania group has announced key performance indicators for the second quarter of 2020, ended June 30, 2020, as reported today by OTE Group, showing nearly stable revenues and a continued increase in EBITDA YoY. In Q2 2020, the consolidated revenues were impacted by the ongoing global COVID-19 pandemic – similar to other operators in EU – as travel restrictions reduced roaming and visitor revenues, while temporary closure of key ...

Innoship gets 550,000 worth investment from venture capital fund GapMinder VC

Wednesday, August 12, 2020

Romanian start-up Innoship receives an investment of 550,000 euros from GapMinder VC, which will stimulate sped up growth among retailers in the domestic market and help the company take the first steps towards internationalization, shows a press release of the entrepreneurs.Innoship is the developer of the SaaS (software as a service), which allows retail and e-commerce businesses to efficiently manage their own courier contracts and multiple delivery options, ...

Number of start-ups on foreign capital in Romania declines over 41pct in H1 2020

Wednesday, August 12, 2020

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 The number of start-ups established on foreign capital in Romania dropped by 41.41% in H1 2020 from H1 2019, to 1,674 units, according to data centralised by the National Companies Registry Office (ONRC).The 1,674 new companies had a subscribed share capital of 3.841 million US dollars in all, down 55.6% from January-June 2019.As of June 30, 2020, the largest number of companies running on foreign capital - 49,168 (3.846 billion US dollars ...

Survey: Half of small local businesses report decrease in revenues in first five months of the year

Wednesday, August 12, 2020

 Half of the small local businesses reported a decrease in revenues in the first five months of this year, while 26 percent of small business owners said that their revenues increased during this period, found a survey conducted by Omnicredit, the first 100 percent online fintech platform dedicated to supporting small businesses in Romania."The financial situation of Romania's small businesses has never been extraordinarily stable. The vulnerabilities of ...

Romanian Post Company debuts auto delivery service to Germany, a company first

Wednesday, August 12, 2020

The Romanian Post Company is opening in a first a post delivery service to Germany on the route Bucharest - Timisoara - Frankfurt and back, given that the SARS-CoV-2 pandemic has proven that air transport is not always accessible, the company announced on last Wednesday.The new service will ensure postal exchanges between Germany and Romania."The situations caused by the closure of airports and the appearance of uncontrollable delays in postal ...

Damen Group to lay off 870 employees in Romania

Wednesday, August 12, 2020

Dutch shipbuilder Damen will cut 1,050 jobs worldwide, with 870 of them in Romania and the rest in the Netherlands (Gorinchem, Schiedam and Bergum), according to Dutch ...

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