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Ford Investing in Romanian Plant With Eye on New LCV, BEV
Wednesday, May 29, 2024
* The plant in Craiova in southern Romania will become Ford’s third European production facility to build an all-electric vehicle, following recent investments in its plants in Cologne, Germany, and Kocaeli, Turkey https://www.wardsauto.com/ informs. Ford ...
Amazon to open game development studio in Bucharest
Wednesday, May 29, 2024
Amazon will open a game development studio in Bucharest where they will work on current projects, but also on those that the company plans to initiate. Amazon is also going to hire new people for the new headquarters in the ...
Brico Dépôt Romania announces sales of 63 million pounds in the first quarter of fiscal year 2024
Wednesday, May 29, 2024
Brico Dépôt Romania, one of the main players in the construction and home improvement field and part of the Kingfisher plc group, announces activities recorded in the first quarter of this fiscal year. The retailer’s sales reached £63m, up 12.3% on the previous year and up 14.7% on a like-for-like basis at constant exchange rates. “This year started optimistically, and with spring, the interest ...
SMEs council closely monitoring dynamics of companies
Wednesday, May 29, 2024
The dynamics of commercial companies, namely the difference between the number of registered companies and the number of suspended, struck off or closed companies, could drop this year to 20,000, from 22,000 last year, the president of the National Council of SMEs in Romania (CNIPMMR), Florin Jianu, told a specialist event on Wednesday."We look very carefully at the dynamics of the number of companies, at the way new people enter the economy and others leave, and at ...
93,000 companies benefited from financing through IMM Invest program
Wednesday, May 22, 2024
93,000 companies have benefited, so far, from financing through the IMM Invest program, starting on June 1, 2020, Dumitru Nancu, the general director of the National Credit Guarantee Fund for SMEs (FNGCIMM), declared during a conference on Tuesday."The amount that he (IMM Invest, ed. n.) infused into the economy amounts to 12 billion euros. I don't think that there has been such an infusion of capital in the economy, in the post-December period, and the degree ...
Christian Tour recorded a sales revenue increase of over 60% in 2023
Wednesday, May 22, 2024
Christian Tour, the largest travel agency in Romania, ended the year 2023 with sales revenues exceeding 683 million lei, approximately 62.08% higher than the revenues earned in 2022 (about 425 million lei). The company’s estimated gross profit for 2023 was about 20 million lei. Last year, the company made a series of investments in agencies and booking platforms, totaling 2,035,740 lei. It also opened 13 new agencies in Bucharest and across the country, ...
International Work Finder reports a revenue of over 12.3 million euros for the year 2023
Wednesday, May 22, 2024
International Work Finder, one of the leaders in the EU and non-EU personnel recruitment market and human resource management in Romania, closed the year 2023 with a turnover of over 12.3 million euros, 5.5 times more than the previous year. The growth is attributed to the introduction of new business lines – outsourcing and personnel leasing – which complement the company’s established services. Outsourcing involves the externalization of ...
Telekom Romania Mobile Communications S.A. announces changes in the leadership team
Wednesday, May 22, 2024
Starting with 16th of May 2024, Mircea Hategan is appointed as Chief Commercial Officer of Telekom Romania Mobile Communications S.A. and, in his new role, will report to the Chief Executive Officer of the company. With over 20 years professional experience in telco field and in sales, holding priorly several leadership roles, Mr. Hategan will be responsible of implementing the commercial strategy of the company, in line with its business ...
DP World boosts European trade with key Romania investment
Wednesday, May 22, 2024
DP World has opened three major new sites in Romania, providing a significant boost to the country’s growing status as a key hub of European trade and enabling economic growth throughout the region, https://www.tradearabia.com/ informs. The Dubai-based group has ...
Fondul Proprietatea has halved its loss in first quarter, to 5.8 million RON
Wednesday, May 22, 2024
Fondul Proprietatea recorded, in the first quarter, a net loss of 5.8 million RON, down from the one shown in the same period in 2023, of 11.5 million RON, according to a report of the company, sent to the Stock Exchange from Bucharest.At the same time, Fondul Proprietatea reported operating income of 900,000 RON in the first quarter, compared to 13.6 million RON in the same period of 2023.According to the quoted source, operating income mainly includes gross ...
Accenture STUDY : 85% of companies are confident they will achieve the expected outcome from their investments in Generative Artificial Intelligence in 2024
Wednesday, May 22, 2024
Business leaders are increasingly optimistic about generative artificial intelligence, with 85% believing their organizations will regain their investments in Generative AI during 2024, according to Accenture's (NYSE: ACN) Pulse of Change report for CxO. While the outlook for business growth in 2024 is generally positive, the study shows a growing discrepancy between the optimism levels of top business leaders. While 38% anticipate strong growth for ...
Telekom Romania Mobile in Q1 2024: total revenues of EUR 66.2 million and an increase in Postpaid subscriber base of 4% year-on-year
Wednesday, May 22, 2024
The Postpaid subscriber base grew by 4% year-on-year to a total of 1.931 million; Total base of customers 3.660 million EBITDA Adj. AL at €2.8 million Telekom Romania Mobile recorded 1.931 million Post paid subscribers at the end of the first quarter of 2024, up 4.0% compared with the same period of last year, continuing the trend of subscribers’ ...
SIPEX reports RON 69.3 million in turnover in Q1 2024
Wednesday, May 15, 2024
SIPEX, one of the largest distributors of construction materials and finishes in Romania, listed on the Bucharest Stock Exchange in the AeRO market, recorded a turnover of RON 69.3 million in the first quarter of the current year, increasing with 10% compared to the same period in 2023, supported by the increase in sales in all three distribution channels, according to the company's financial results.The activity in the B2B channel made the biggest ...
Hidroelectrica Group's net profit, down 23% in Q1
Wednesday, May 15, 2024
In the first three months of the current year, the Hidroelectrica Group recorded a net profit down by 23%, to 1.326 billion RON, from 1.723 billion RON in the same period of 2023, according to the Q1 2024 Report, published on Tuesday on the Bucharest Stock Exchange.Also, revenues were down by 22% compared to the same period of 2023 to 2.536 billion RON, from 3.272 billion RON, and the result per share is lower by 23%, from 3.84 RON/share to 2 .95 ...
One United Properties posts up net profit worth RON 157.3 M in Q1
Wednesday, May 15, 2024
Real estate developer One United Properties recorded RON 419 million in its consolidated turnover in the first quarter of 2024 (Q1), down 5% compared to the same period of last year, the company informs on Monday.The company posted up RON 183.8 million in gross profit, a 3% increase compared to Q1 2023, and RON 157.3 million in net profit, a 4% increase compared to Q1 2023.In terms of revenues corresponding to its residential segment, the company ...
Over 1,670 foreign capital companies registered in Q1
Wednesday, May 15, 2024
As many as 1,675 companies with foreign capital were established in Romania, in the first three months of 2024, down by 7.4%, compared to the similar period in 2023, according to the data centralized by the National Trade Registry Office (ONRC).The 1,675 new companies had a total subscribed capital of more than 10,228 million dollars, an increase of 48.4% compared to the subscribed capital of companies registered in January - March 2023, of 6,891 million ...
BVB Group reports 68 pct increase in Q1 net profit
Wednesday, May 15, 2024
The Bucharest Stock Exchange (BVB) Group reported a net profit of RON 2.96 million for the first quarter of 2024, by 68 percent or RON 1.2 million higher from the prior year period, amid the upward dynamics started in 2023 after the listing of energy company Hidroelectrica, but also due to ongoing projects, show the consolidated financial results released on Thursday.BVB Group's consolidated operating profit in Q1 2024 reached RON 2.25 million, up by 132 percent ...
AQUILLA revenues, up 11pct in Q1 2024
Wednesday, May 15, 2024
AQUILA, a market leader in the field of integrated distribution and logistics services for consumer goods in Romania and Moldova, ended Q1 2024 on an 11% increase in the revenues compared with the same period last year, reaching RON 624 million.According to a press statement released on Thursday, the results were supported by the distribution segment following the focus on the channels with the highest growth potential and on expanding the portfolio of products sold ...
Aerostar ends Q1 2024 with net profit of 25 million RON
Wednesday, May 15, 2024
Aerostar Bacau recorded a net profit of 25.133 million RON in the first quarter of this year, down 16.47% compared to the same period last year, according to the financial data submitted to the Bucharest Stock Exchange on Friday.The turnover of the company increased by 24.15% compared to the first three months of 2023, to 155.309 million RON, export sales being 127.989 million RON, higher by 24.41%.The gross profit in the mentioned period was 29.213 million RON ...
MedLife net profit rises 56% y/y in Q1
Wednesday, May 15, 2024
Romanian private healthcare services provider MedLife Group said on Friday that it booked a consolidated net profit of 13.1 million lei ($2.84 million/2.63 million euro) in the first three months of 2024, increasing from 8.4 million lei in the prior-year period. MedLife's consolidated operating income rose to 648.4 million lei in the first quarter of 2024, from 532.8 million lei a year earlier, whereas its operating profit surged ...