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Promateris estimates a net profit of EUR 4.3 million

Wednesday, March 16, 2022

Promateris (BVB: PPL), a Romanian industrial group and leader in Central and Eastern Europe in the production of biodegradable and compostable packaging, estimates for 2022 revenues of 47.7 million euro, EBITDA of 7.3 million euro and a net profit of 4.3 million. The revenue and expense budget will be subject to approval by the General Meeting of the Shareholders, which will take place on April 27, 2022.    “In ...

Anchor Grup gets EUR 80 M financing from Banca Transilvania

Wednesday, March 16, 2022

Anchor Grup, a real estate developer operating also in Romania, has obtained a financing of 80 million euros from Banca Transilvania for the refinancing of the group’s retail and office segments. The loan represents one of the most important bank financing granted in recent years for the players on the Romanian real estate market.   “We are glad that Banca Transilvania, the largest bank in ...

Emerson signs lease agreement with Globalworth to relocate Bucharest office

Wednesday, March 9, 2022

The Romanian subsidiary of the American technology and software group Emerson has leased 1,100 sqm of office space in Globalworth Campus, where it will relocate its Bucharest office starting April 2022.The lease agreement with Globalworth is for seven years.   “The Emerson office in Bucharest plays a vital role in supporting customers both locally and across the central and southeastern region of Europe. The new ...

Rohlik plans to create 1,000 jobs in Romania with its sezamo online supermarket

Wednesday, March 9, 2022

The sezamo online grocery retailer, which will be launched in Romania this spring by the Czech group Rohlik, will create approximately 1,000 jobs in the first year. The company will start its local operations with 200 employees, and the team will increase by about 800 people after the launch.   sezamo currently has more than 100 jobs available in Romania. More than half of the jobs listed are for ...

Agroland reports 23% stronger revenues in 2021

Wednesday, March 9, 2022

Agroland Business System (BVB: AG), a Romanian retail, agriculture and food business group with the largest network of agricultural stores in Romania, reported consolidated revenues of RON 233.9 mln for 2021, up 23% compared to 2020.    It reported a net profit of RON 8.5 mln, in line with the net profit estimated by the company in the memorandum of admission to Bucharest Stock Exchange ...

Canadian company to invest €400 million in a lithium factory in Romania

Wednesday, March 9, 2022

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Romania will enter the map of major manufacturers of battery components after signing a memorandum with a company that will build a lithium refinery, Minister of Energy Virgil Popescu told a press briefing on Monday, at the Government headquarters."I am very happy that Romania will be on the map of the big manufacturers of battery components. Because we have to say, no battery can work without lithium. Basically these refineries, these two refineries that will be ...

Proinvest pours EUR 10-12 mn in industrial park this year

Wednesday, March 9, 2022

Proinvest Group, a Romanian company specializing in steel processing, will invest EUR 10-12 million this year as part of a EUR 100 mln long-term development plan, which began in 2021.   "Specifically, we will invest this year in the development of an industrial park in Iasi (in northeastern Romania), where we will open a new production facility of the group," says the group's owner Vasile Sandu, ...

Liberty Galati invests EUR 5.5 mln in its production facilities

Wednesday, March 9, 2022

GFG Alliance, the group that owns the Romanian steel mill Liberty Galati (formerly known as Sidex), allocated EUR 5.5 mln for an investment project at its Romanian subsidiary, the group announced while reporting on the progress made in terms of business restructuring and ...

Beltrame to resume rebar production at COS Targoviste

Wednesday, March 9, 2022

Italian group Beltrame wants to resume rebar production at COS Targoviste “unless other issues prevent this,” after the Romanian competition body approved the takeover of the local steel processing facility under the insolvency ...

OTP Bank doubles net profit in Romania

Wednesday, March 9, 2022

OTP Bank Romania, the local division of the Hungarian group OTP, registered an after-tax profit of RON 58 million (EUR 11.7 mln) in 2021, more than double the result of the previous year.   The higher net profit was mainly due to a 68% drop in the total risk cost, which compensated for the 24% decline in the operating profit, generated by higher operating expenses.   The ...

Eight companies vie for Romania’s EUR 500 mln microchip program

Wednesday, March 9, 2022

Eight companies active in Romania have qualified, following a pre-selection, in a program worth EUR 500 million financed through the National Recovery and Resilience Plan (PNRR) to develop microelectronics in Romania, respectively for the research and production of chips and semiconductors.   Among these companies are big international groups from the automotive industry and semiconductors, such as Bosch, Continental or ...

Telekom Romania Communications to become Orange Romania Communications, on March 28

Wednesday, March 2, 2022

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  Telekom Romania Communications will become Orange Romania Communications, starting with March 28, 2022, and Telekom shops will gradually become Orange shops, with the same elements and brand material."Orange and the fixed service operator, Telekom Romania Communications, have gone through important stages starting with September 30, 2021, in order to ensure clients and partners a unitary experience. Thus, the company is announcing to change the name of ...

Aircraft company Aerostar posts almost 60 ml RON in 2021 net profit

Wednesday, March 2, 2022

Aircraft construction, repair and upgrading company Aerostar posted a 2021 net profit of 59.94 million RON, by 56 percent higher than the year before, show the preliminary financial results sent on Monday to the Bucharest Stock Exchange.( 1 EUR=4.9480 RON)The company's 376.434 million RON turnover was 27.6 percent higher than in 2020, and export sales amounted to 242.823 million RON.The Bacau-based company, which also specializes in the manufacturing and ...

Alumil closes out 2021 with net profit of 6.329 million RON

Wednesday, March 2, 2022

Alumil Rom Industry has recorded in 2021 a net profit of 6.329 million RON, nearly twice as much over the previous year's profit of 3.672 million RON, according to preliminary financial data sent on Monday to the Bucharest Stock Exchange.(1 EUR=4.9480 RON)The incomes of the company totaled 90.812 million RON (72.915 million RON in 2020).Alumil Rom Industry is a branch of the Alumil Aluminium Industry company in Greece, a group that is active in the ...

Biofarm registers a net profit up by 11% in 2021 compared to 2020

Wednesday, March 2, 2022

Biofarm, one of the most important drug manufacturers in Romania, reports positive developments for the preliminary results of 2021: turnover of 239 million lei and a net profit of 60 million lei, up 11% compared to 2020. In addition, Biofarm reported EBITDA of 82 million lei, up 10% compared to 2020.    “Innovation, the driving force behind Biofarm’s mission, is strongly reflected in the figures for 2021, a year marked by significant achievements in all ...

One United Properties posts gross profit of RON 604 million in 2021

Wednesday, March 2, 2022

One United Properties (BVB: ONE), the leading green developer of residential, mixed-use and office real estate in Romania, recorded revenues of 1.1 billion lei in 2021, 105% increase compared to the 2020 ...

MedLife's net profit nearly doubles in 2021

Wednesday, March 2, 2022

MedLife Group (BVB: M), the leader of the Romanian medical services market, announced that it registered a Pro-forma consolidated turnover of RON 1,632 mln (EUR 332 mln), 51.6% stronger compared to in 2020.   Its net profit has nearly doubled (+93% YoY) to RON 123 mln (EUR 25 mln). The company's market capitalization is RON 2.86 bln (EUR 570 mln) after the price of its shares rose by 0.47% on the day the FY 2021 financial results ...

Coface Study: Insolvencies in Romania up by 10% in 2021 compared to 2020

Wednesday, March 2, 2022

The latest Coface Romania study shows that in 2021, 6,113 new insolvency proceedings were opened, up by 10% compared to the previous year, but still below the level registered before the local impact of the Covid-19 pandemic. The losses of the companies that went into insolvency registered an accelerated growth. The number of employees reported by the insolvent companies in the analyzed period is 30,000. The evolution of insolvent ...

Holde Agri Invest has an increase of 46% and net profit of more than 7 million lei in 2021

Wednesday, March 2, 2022

Holde Agri Invest S.A., a Romanian company that operates agricultural land, posts consolidated revenues of 59 million lei in 2021, 46% higher than in 2020 and a net profit (according to IFRS), of 7.3 million lei, a 38% increase compared to 2020. Following the acquisitions made during the year, the company currently operates a total land area of almost 10,000 ha in the three core farms – Rosiori, Frumusani and Videle, out of which 1,900 hectares are organic farming ...

Overall Telekom Mobile Communications incomes dropped by 14.6% in 2021

Wednesday, March 2, 2022

Overall incomes of Telekom Mobile Communications reached 386.8 million euros in 2021, on the drop by 14.6% compared to 2020. The fluctuation came on the background of the separation from fixed operations and customers that had converging fixed-mobile services (FMC), also because of the pandemic which limited world travel.   “In 2021, overall company incomes (including mobile virtual network operator MVNO) reached 386.8 million euros, on the drop ...

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