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Cargus accelerates its business and reports double-digit revenue growth in the first half of 2023

Wednesday, September 6, 2023

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Cargus closes the first half of the year with a growth north of 10% in revenues, as compared to the corresponding period of 2022. The company budgeted 33 million lei for investments, with a focus on operational excellence, digital solutions for customers, optimizing the out of home network and expanding the business internationally. The micro and small ...

Sphera Franchise Group improves its profitability, with a 146.5% increase in EBITDA YoY and net profit of RON 19.4 mn, in H1 2023

Wednesday, September 6, 2023

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Revenues of RON 695.6 mn in H1 2023, 14.8% higher vs H1 2022 Restaurant operating profit of RON 60.6 mn, +136.3% YoY in H1, with improved performance across all brands Increase of 146.5% YoY in EBITDA, to RON 52.4 mn, in H1 ...

88,433 natural, legal persons doing business registered in Romania in first seven months of 2023

Wednesday, September 6, 2023

The number of registrations of individuals and legal entities doing business in Romania decreased in the first seven months of 2023 by 1.88%, y-o-y, to 88,433, of which 56,619 were limited liabilities, according to data centralised by the National Companies Registry Office (ONRC).Most registrations occurred in the city of Bucharest, 17,996 (plus 8.7%, as against January-July 2022), and in the counties of Cluj - 4,810 (minus 14.52%), Ilfov - 4,660 (plus 0.69 ...

City Grill Group Invests EUR 13 M To Upgrade “Hanu’ Berarilor” Restaurant And To Launch Of “La Boheme” Hotel

Wednesday, September 6, 2023

  City Grill Group announces the completion of its most extensive investment process to date. With a 13-million-euro investment in the revitalization and modernization of “Hanu’ Berarilor Oprea Soare” restaurant and the establishment of “Hotel La Boheme,” City Grill Group is solidifying its position as the largest domestic operator in the hospitality market and taking its first steps into the hotel ...

One United Properties reports RON 286.9 million in H1 2023 net profit

Wednesday, August 30, 2023

 Real estate developer One United Properties has reported a net profit of RON 286.9 million in H1 2023, up 13% y-o-y.According to a press statement released on Tuesday, if the impact of the one-off gain is included, the net profit recorded a 17% decrease y-o-y.At the same time, the company reported a consolidated turnover of RON 843.5 million in H1 2023, up 25% y-o-y.According to One United Properties, its gross result reached ...

Colliers’ Property Management division manages annual budgets of over 26 million euro

Wednesday, August 30, 2023

Colliers Romania manages over 680,000 square meters of real estate in Bucharest, Cluj-Napoca, Timisoara, Brasov, and Arad, of which 590,000 square meters are offices and the rest industrial warehouses, providing asset management and administration services for annual budgets of over 26 million euro. In regional cities, Colliers consultants are seeing increasing numbers of developers and owners choosing to optimize building management and maintenance costs by outsourcing such ...

As many as 3,718 companies and self-employed persons go insolvent over Jan - July 2023

Wednesday, August 30, 2023

 The number of companies and self-employed persons (PFAs) going insolvent in the first seven months of 2023 was 5.44 percent down from the year-ago period, at 3,718, according to data published on the website of the National Trade Register Office (ONRC).Most insolvent companies and PFAs were reported in Bucharest City, at 729, up 9.95 percent from January - July 2022. Next in the insolvency ranking are the counties of Bihor - with 315 insolvencies ...

Aquila reports 29pct increase in net profit on improved distribution business

Wednesday, August 30, 2023

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Aquila, a leader in integrated distribution and logistics services for the consumer goods market in Romania and Moldova, ended H1 2023 on growing business and net profit, in line with its unveiled strategy.The company reported an increase of approximately 17% y-o-y to RON 1,122 million, driven mainly by a growth in revenues from the distribution business segment, which accounts for over 90% of the company's turnover.The company's net profit grew ...

Deloitte Romania Appoints Two New Directors In Its Financial Advisory Practice

Wednesday, August 30, 2023

Deloitte Romania appoints Dragos Cruceru and Mihail Bucheru to directors in its Financial Advisory practice, effective September 1st, 2023.   “Our financial advisory practice has grown significantly over the past years and the contribution of dedicated professionals such as Dragos and Mihai has been essential. The corporate finance team has been involved in diverse and high-profile projects, ...

MedLife healthcare services network posts 27 pct higher H1 turnover

Wednesday, August 30, 2023

 Private healthcare services network MedLife reported a pro-forma consolidated turnover of 222.1 million euros in H1 2023, up 27 percent year-over-year, of which 12 percent from organic growth.According to a company release, all the group's business lines saw robust growth between January - June 2023, with clinics recording the best performance (+41 percent), followed by hospitals (+36 percent), the corporate division (+13 percent), dental clinics (+11 ...

Datacor Records Significant Revenue Surge in H1 2023, Surpassing 7 Million Euros

Wednesday, August 30, 2023

Datacor, Romania’s electrical, telecom, and security systems provider, announces record financial performance for the first half of 2023. The company achieved a revenue milestone of over 7 million euros, attributing much of this success to its recently ...

MLP Group’s revenue up by more than half

Wednesday, August 30, 2023

In the first half of 2023, MLP Group, a company operating in the real estate sector, demonstrated significant growth in its financial performance. The operating income rose by 51% year-on-year to reach EUR 40.3 million, accompanied by a remarkable increase of 63% in EBITDA without revaluation, totaling EUR 21.1 million. The value of investment properties showed resilience, reaching EUR 963.1 million, marking a 2% increase compared to the previous ...

Nusco Imobiliara has been valued at 400 mil. Euro

Wednesday, August 30, 2023

Real estate developer Nusco Imobiliara, the local division of the Italian group Nusco Spa and one of the major players in the industry, has been valued this year at over 400 million euros, with the evaluation process conducted by the company KPMG in Romania.   Conducted at the request of Nusco Imobiliara, the evaluation process lasted for two months and included all assets from the real estate developer’s portfolio, ...

ONRC: Almost 484.000 women were shareholders or associates in Romanian companies at the end of June

Wednesday, August 23, 2023

The number of women shareholders or associates in Romanian companies was, at the end of June 2023, 483.989, an increase compared to May, with a 34.19% share of total shareholders or associates, according to the data of the National Trade Registry Office (ONRC).   At the end of May, the ONRC data registered 482,590 women, 34.21% share in total shareholders or associates, ...

Bitdefender completes acquisition of Horangi Cyber Security

Wednesday, August 23, 2023

Bitdefender, a global cybersecurity company, completed last week the acquisition of Horangi Cyber Security, based in Singapore, expanding its portfolio of products and services with rights management solutions for cloud infrastructure, cloud security management and security consulting services, the company informs in a press release."The acquisition of Horangi allows Bitdefender to help its customers solve the challenges directly and represents a milestone ...

Hortifruct: pea harvest 62% higher than in 2022

Wednesday, August 23, 2023

Hortifruct, the largest producer of cans in Romania, announces an increase in production in 2023 of over 20 million cans, bottles and jars, compared to 2022 when production was 15 million units. These figures are estimated due to increased production, as Hortifruct planted more vegetables at the beginning of the year than last year.   The expectations were confirmed even from the first harvested product: green garden peas ...

EY Romania survey : Four out of ten companies are not ready to comply with e-invoicing

Wednesday, August 23, 2023

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 Four out of ten companies (39%) are not ready to comply with e-invoicing on a widespread basis, 32% say they are 30-50% ready, and almost a third of those surveyed said they have not yet analysed the impact of this requirement, according to an EY Romania survey.The RO e-Invoice (RO e-Factura in Romanian, ed. n.) system could become mandatory across the board, starting as early as 1 January 2024, for all types of transactions between companies ...

TAROM, first in the Sky Team Sustainable Flight Challenge

Wednesday, August 23, 2023

  Tarom was the winner, for the second year in a row in the sustainable flight challenge organised by SkyTeam, the flight Bucharest-Madrid and back having the lowest CO2 emissions as compared to other medium-courier flights, says a press release of the company.   'This is the second year in a row that our team won the prize for the lowest C)2 emissions in the SkyTeam Sustainable Flight ...

Biofarm makes net profit worth 50.1 million RON in H1 2023, up 15 pct v H1 2022

Wednesday, August 23, 2023

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Biofarm registered a 17 pct increase in turnover for the first half of 2023, compared to the same period of the previous year, and the net profit reached RON 50.1 million, registering an advance of approximately 15 pct compared to the same period last year.In terms of EBITDA, the company reports an increase of 3 pct, reaching a level of RON 61.2 million.In the first semester of the year, Biofarm ranks 2nd in Consumer Healthcare (CHC), according ...

Cognyte develops team of experts in blockchain analysis in Romania

Wednesday, August 23, 2023

Cognyte announces development of a local team specialized in blockchain analysis, the new team of experts being to be part of Cognyte's group of award-winning software products, according to a company's statement.According to the source, cryptocurrencies and blockchain technology have revolutionized the way money is traded and stored. However, cryptocurrencies have also gained popularity among criminals, who quickly identified the potential of this ...

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