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Orange Romania records a 2% drop of business figure in Q1

Wednesday, May 1, 2019

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Orange Romania announced on Tuesday, that it had registered a 2% drop of the business figure in Q1, compared to the same period of 2018, up to  265 million euro, mainly on the background of interconnection prices for mobile phone voice calls. On March 31, Orange Romania was offering mobile, fixed and TV services to 10.693 million customers, on the rise by 2.3% compared to the end of Q1, 2018. “Fixed services continued ...

The majority shareholder of TMK –Artrom wants to launch a public offer for 59.4% of the shares

Wednesday, May 1, 2019

TMK Europe GmbH, the majority shareholder of TMK-Artrom intends to launch a public offer for approximately 59.39% of the social capital of the company, a press release of the company says.According to the press release sent to BVB Raiffeisen Bank SA,. Raiffeisen Centrobank AG and WOOD & Company Financial Services were named as Global Joint coordinators and owners of the register of subscription of the offer. BT Capital Partners SA was named Agent retail of the ...

EY REPORT: Global appetite for mergers and acquisitions has reached record for the past 10 years

Wednesday, May 1, 2019

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EY study (Valuation multiples in the context of Bucharest Stock Exchange and local M&A market), that has compared the performance of the most relevant two indexes of the Bucharest Stock Exchange (BET and BET-TR) with the Yield to Maturity of the Romanian Government Bonds, has found that the capital market indexes have generated a higher median return of 4.8% for the BET index and of 13.9% for BT-TR over the past 7 years. However, one needs to keep in mind ...

Study: Romanian employees prefer working in the multinational companies

Wednesday, May 1, 2019

Despite the salary hikes in the public sector, only three in ten Romanian employees say they would consider working in a state institution in the near future, says a survey conducted by BestJobs online hiring platform this month. About six in ten employees in Romania prefer working in private companies, while 9 percent would like to be self-employed. Among those who want a career in the private sector, roughly two thirds would ...

Services sector is booming on higher external demand

Wednesday, May 1, 2019

Romania’s services sector is expanding its businesses at fast pace as the demand from the external markets is higher than ever. According to fresh official data released by the central bank, Romanian companies exported services of EUR 3.76 billion during the first two months of this year, up 17.5 percent against January-February 2018 (EUR 3.2 billion). This strong performance is mainly due to the strong IT sector, a ...

ONRC: Companies dissolved in Q1 2019 vs Q1 2018 down 13.13pct

Wednesday, May 1, 2019

The number of companies dissolved in first quarter of 2019 dropped by 13.13pct vs the same period of 2018, to 8.507 units against 9,793 units in 2018, according to data released by the National Trade Register Office (ONRC).Most of the shutdowns were recorded in Bucharest (1,445) down 25.63pct vs Q1 2018 and in the counties of Constanta (423, plus 4.96pct), Timis (423, minus 19.89pct) and Cluj (382, minus 17.85pct). As reported to the first quarter ...

Eurostat: Romania, fourth in EU by share of self-employed persons in total workforce

Wednesday, May 1, 2019

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In 2018, 32.6 million persons aged 15 to 74 in the European Union were self-employed, accounting for 14 percent of total employment, according to the latest figures released by Eurostat. Romania ranked fourth by the share of self-employed individuals in its total workforce, with 17 percent, below Greece (30 percent), Italy (22 percent), and Poland (18 percent) and followed by the Czech Republic, the Netherlands and Spain (16 percent each), Portugal, ...

More than 4,400 companies suspended their activity in Q1 2019

Wednesday, May 1, 2019

More than 4,400 companies suspended their activity in the first quarter of this year, by 22.55 less than in the same period last year, according to data released by the National Trade Register Office (ONRC).As many as 1,393 companies suspended their activity in March this year.Most companies that have suspended their activities in the past three months are based in Bucharest, 440, by 33.93 per cent down against the same period of last year. The Capital ...

Survey: Six in ten Romanian employees want to change job in next six months

Wednesday, May 1, 2019

Almost half (42.5pct) of Romanian employees are planning to change their jobs in the next three months, according to a survey conducted by an online recruiting platform.Another 14.1pct of respondents want to make this change in a maximum of 6 months, which means that the next half year will be extremely dynamic in terms of staff fluctuation, as of almost 6 in 10 employees want to find another job, according to the quoted source.In fact, 7 in 10 ...

Banca Transilvania's net profit rises to over 92mln euro in Q1 of 2019

Wednesday, May 1, 2019

Banca Transilvania reported a net profit of 436.07 million lei (over 92 million euro) in the first quarter of 2019, up 19pct from the same period in 2018, or 407, 51 million lei, taking into account the bank assets tax, according to the results sent to the Bucharest Stock Exchange. "In terms of operational efficiency, it is kept at a comfortable level in Banca Transilvania, that is 47pct, calculated with an annualized impact of the contribution to the Bank Deposit ...

Biofarm shareholders approve gross dividend per share of 0.010 lei

Wednesday, April 24, 2019

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Biofarm shareholders approved the distribution of dividends of 9.853 million lei, that is gross dividend of 0.010 lei/share, from the profit made in 2018, according to a press release sent to Bucharest Stock Exchange on Tuesday. The General Assembly of Biofarm Shareholders approved on Tuesday the main indicators for 2018, that is a net profit of 38.425 million lei, on the rise by 7% against the previous year, to a business figure of 184.241 million ...

Austria-based Cineplexx enters Romania

Wednesday, April 24, 2019

Austria-based operator Cineplexx International has announced its entrance on the Romanian cinema market after having bought Grand Cinema & More multiplex within B?neasa Shopping City in Bucharest. According to the company’s press release, the takeover will be effective in the upcoming months and will not affect the current activity of the multiplex. The sale’s value has not been disclosed. Grand Cinema & More ...

 Minister Stefan-Radu Oprea: Michelin occupies an important place in the ecosystem of the Romanian automotive industry

Wednesday, April 24, 2019

 Minister for Business Environment, Trade and Entrepreneurship (MMACA) Stefan-Radu Oprea on Monday had a meeting with the general manager of Michelin Romania, Stephane Roy de Lachaise, with who he discussed about investments and innovation, informs the MMACA in a press release."Michelin occupies an important place in the ecosystem of the Romanian automotive industry, with total investments worth almost 600 million euros, ...

Antibiotice Iasi posts 8 pct increase in sales revenues in 2018

Wednesday, April 24, 2019

General Shareholders’ Meeting of Antibiotice SA decided in the approval of the audited financial status for 2018, setting up the distribution of the 2018 net profit, as well as the value of the gross dividend per share, according to a company statement. The company’s 2018 audited financial results were in line with strategic objectives with a focus on international scaling, and showed an 8 percent increase in sales revenues to RON 364.5 ...

Entrepreneurship on the rise as startup ecosystem gets upgraded

Wednesday, April 24, 2019

Being your own boss is becoming a more coveted aspiration, with more Romanians interested in starting their own businesses, BR ANALYSIS reads. Although the number of new limited liability companies (SRL) dipped by around 4 percent in 2018, a growing network comprising business accelerators, angel investors, venture capitalists and banks are doing their best to promote entrepreneurship. One in ...

IRSOP study : Almost three quarters of Romanians want to start a home improvement project

Wednesday, April 17, 2019

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Almost three quarters of Romanians (72 percent) want to start a home improvement project in the next five years, while 32 percent intend to start one in the next 12 months, according to a IRSOP study for the Association of Housing Banks in Romania (ABDLR). The share of dwellings increases year-on-year as a result of the aging of the buildings, the low rate of current improvements, and also because of the small proportion of new housing that fails to ...

Blockchain StartUp Swazm signs partnership with Maguay, one of the biggest server and storage suppliers in Europe

Wednesday, April 17, 2019

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According to a statement sent to ACTMedia, Romanian Blcokchain company Swazm has signed a partnership with ...

CBRE takes over administration of NEPI Rockcastle’s office building portfolio in Bucharest

Wednesday, April 17, 2019

The real-estate consultancy company CBRE took over the administration of the NEPI Rockcastle portfolio of office buildings in Bucharest, totaling 70,580 square meters. This is the first time when NEPI Rockcastle outsources the management of the properties. Thus, CBRE reaches a management portfolio of 770,000 sqm both offices and retail. NEPI Rockcastle gave the management of Floreasca Business Park, The Lakeview and Aviatorilor 8 buildings to CBRE. The ...

Lacoste sells factory in Sibiu County to Chinese giant

Wednesday, April 17, 2019

The French clothing manufacturer Lacoste will sell the factory in Cisnadie, Sibiu County, where nearly 400 employees work, to Sunrise Knits, one of the largest textiles and clothing companies in the world. Inside information from the factory in Cisnadie, Trans Euro Textile, clothing manufacturer for Lacoste, say the employees have been informed that the French owner has sold the factory to the Chinese company Sunrise Kits, part of Youngor group and ...

Agricover posts net profit of RON 13.2 million in 2018

Wednesday, April 17, 2019

Agricover SA, a subsidiary of Agricover Holding, recorded revenues of RON 1.64 billion for the year 2018 and a net profit of RON 13.2 million from agri-business activities (distribution of inputs for agriculture, sowing and trade in cereals and oilseeds ) and agri-food (slaughtering, processing and marketing of pork). EBITDA was up to RON 44.7 million. Agricover is a newly created legal entity in November 2017 following the merger by absorption of ...

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