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Six in ten companies operating in Romania expecting to bounce back to before-pandemic levels in 2021

Wednesday, April 14, 2021

Almost half of companies operating in Romania (46%) say they are not affected by crisis and are doing business as usual, and six out of ten entities (60%) believe that throughout 2021, they will recover to levels seen before the COVID-19 pandemic, according to findings in a Randstad Romania HR Trends 2021 report published on Tuesday.According to data centralised by the recruitment company Randstad Romania, 15% of the companies will increase this year their ...

Ariston Thermo Romania ended 2020 with an increase in turnover of 18%

Wednesday, April 14, 2021

Ariston Thermo Romania, the leader of the local market of heating systems, ended 2020 with an increase in turnover of 18%, obtained amid higher sales of all product ranges in the portfolio, which include thermal power plants, boilers, heat pumps, thermostats, solar systems and air conditioners. Sales were supported by redefining people’s lifestyles amid the Covid 19 pandemic, but also by growth in the construction ...

Digi’s brand value increased by 16% in 2021 compared to 2020

Wednesday, April 14, 2021

Digi’s brand value increased by 16% in 2021 compared to 2020, to EUR 295 million from EUR 254 million, according to Brand Finance Romania 50, a study conducted in March 2021. Also, in terms of brand strength, Digi | RCS & RDS evolved from AA + to AAA rating and is the only ambassador of the telecommunications industry in the ranking, with 5% contribution to the consolidated value of Romanian brands included in the ...

Romcab turnover up almost 88pct in 2020 to 173 mln euros

Wednesday, April 14, 2021

Romcab, an insolvent cable maker, recorded a turnover of 173 million euros in 2020, up almost 88% from the previous year, a level comparable to that shown in the period before starting this procedure, according to a company's release issued on Tuesday."The activity of the last four years has been marked by losses, but Romcab has managed to overcome the challenges brought by insolvency, registering a significant and constant increase in turnover, from 37 million ...

Private SMEs: PNRR brings no progress to business milieu, allocations down to EUR 2.28 billion

Wednesday, April 14, 2021

This famous National Recovery and Resilience Plan (PNRR) has brought no progress, on the contrary, it brought a decrease in business allocations, from EUR 3.8 billion in the first version, to EUR 2.28 billion, in the version approved in the government, Florin Jianu, president of the National Council for Small and Medium Private Enterprises of Romania (CNIPMMR), said on Friday in an online debate."The economy has, however, been slowed down, because we are in ...

Competition Council investigates takeover of Cicor Technologies by OEP Capital Advisors

Wednesday, April 14, 2021

The Competition Council analyzes the transaction through which OEP Capital Advisors L.P. in the United States intends to take over Cicor Technologies Ltd., Switzerland, according to a competition authority's press release issued on last Thursday.OEP Capital Advisors L.P. is a privately held investment firm with operations in the industrial, health and technology sectors in North America and Europe.The Cicor Group offers printed circuit boards and ...

Innova finalises PayPoint and PayZone acquisition

Wednesday, April 14, 2021

After almost six months from the announcement of the signing of the deal between Innova Capital (as buyer) and PayPoint PLC, the acquisition process of PayPoint Services SRL ?i Payzone SA was successfully closed. The RTPR team has provided complex assistance to Innova Capital in relation to all aspects related to M&A, competition and financing of the deal, with a value of approximately GBP 48 million, including in relation to the refinancing of the existing debt of ...

RTPR advised B+N Referencia on the acquisition of ISS group main subsidiaries 

Wednesday, April 14, 2021

RTPR has assisted B+N Referencia Zrt., the market leader in the field of facility management in Hungary, in relation to the acquisition of the main subsidiaries of the ISS group in the Czech Republic, Slovakia, Romania and Hungary. ISS is a global leader in outsourcing, offering a diverse range of services at international level: facility management, cleaning, property, catering and support services. The law firm provided advice on Romanian law aspects of the ...

Avison Young, named Best Agency at the SEE Real Estate Awards Gala

Wednesday, April 14, 2021

* The real estate consultancy firm, present in Romania since 2017, has had the fastest growth in the region   Real estate consultancy firm Avison Young has been named Best Agency in South-Eeastern Europe at the SEE Real Estate Awards Gala, for the company’s exceptional ...

Competition Council starts investigation into suspicion of price rigging by Samsung

Wednesday, April 7, 2021

  The Competition Council (CC) has launched an investigation into the Romanian electronics and IT&C market, suspecting that Samsung has agreed with a number of retailers, such as Altex, Flanco and eMag, on selling prices of its products, according to a press release of the competition institution, sent on Monday.Thus, the Competition Council carried out unannounced inspections at the head offices of Samsung Electronics Romania, Altex ...

Blue Air loss during pandemic is over 60 million Euro

Wednesday, April 7, 2021

 Blue Air registered last year a "pandemic loss" of over 60 million Euro, while in 2019 it saw 11 million Euro in profit, Oana Petrescu, the CEO of the Romanian private flight operator, said."Basically, our pandemic loss was over 60 million Euro, just as we foresaw when we made the credit request towards the state. A year prior we became profitable, we managed to reach a profit of 11 million Euro, and in 2020 we had to cover all losses from our ...

eMag invests over 1.5 million Euro in refurbishing head office

Wednesday, April 7, 2021

Online retailer eMag will invest over 1.5 million Euro for refurbishing its head office into a collaborative space, given that 3,000 employees expressed their intention that in the following period they wish to work in a hybrid system, according to a press release sent by the company, on Monday.In the context determined by the COVID-19 pandemic, the company carried out a series of internal studies, both quantitative and qualitative, through which it analyzed ...

Chimcomplex turns to profit in 2020

Wednesday, April 7, 2021

Chimcomplex, the largest chemical group in Romania, announced a net profit of RON 95 million (EUR 20 mln) for 2020, while its EBITDA reached RON 257 mln (EUR 54 mln) or 22% of its turnover.   The group targets RON 330 mln (EUR 67 mln) EBITDA and plans RON 120 mln (EUR 24.5 mln) investments this year. The operating revenues for 2021 are estimated at RON 1.6 bln (EUR 326 mln), based on exports of RON 1 bln, ...

Telekom Romania - the group of companies with the fastest growth rate of mobile subscribers

Wednesday, April 7, 2021

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Telekom Romania stood out last year with a significant increase in the number of mobile postpaid subscribers, of 6.3%, to 1.65 million, a trend that seems to continue in 2021.   At the same time, according to the “Study which measures the market share of mobile service providers for individuals”, conducted by the Mia Marketing Institute, on a nationally representative sample, in ...

JTI invests EUR 60 million in its Romanian factory

Wednesday, April 7, 2021

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JTI will invest EUR 60 million to upgrade the Romanian factory’s production capacities. As a result of the investment program which will be deployed over the next three years, the volume of cigarettes manufactured in our country will increase, and within the Pipera platform our factory will play a key role in JTI’s sourcing to the European Union Markets. At present approximately 70% of JTI’s manufacturing production is exported to ...

ONRC: 2,089 companies have suspended their activity in Jan-Feb 2021

Wednesday, April 7, 2021

 The number of companies that suspended their activity in the first two months of 2021 decreased by 5.73pct, compared to the same period in 2020, down to 2,089, according to data published by the National Trade Register Office (ONRC).Most of the companies that suspended their activity in January-February 2021 were from Bucharest, respectively 233 (up by 27.32pct compared to the same period of 2020), the Capital City being followed by the Bihor county, ...

Study: Employment restarts in Romania

Wednesday, April 7, 2021

The biggest career fair in the country, TOP Employers, returns this spring in an online format, on Hipo.ro and aims to once again support both people who are looking for a job, regardless of level experience as ...

US slashes anti-dumping tax for RO aluminum producer Alro from 84% to 37%

Wednesday, April 7, 2021

The United States Department of Commerce (DoC) announced its final decision on the anti-dumping tariffs for aluminum sheets imported from 18 countries, including Romania.The DoC revised its original position and reduced the tariff for the Romanian producer Alro from 83.94% to 37.26% of the value of the imported sheets, the Romanian aluminum producer announced in ...

ONRC: 803 companies partially running on foreign capital registered in Jan-Feb 2021

Wednesday, April 7, 2021

  The number of newly established companies partially running on foreign capital has dropped by 10 per cent in the first two months of 2021, compared to the same period last year, to 803 units, according to data centralized by the National Trade Register Office (ONRC).The 803 newly established companies had a total share capital of 10.94 million US dollars, by 6.5 higher than the number of companies registered in Jan-Feb 2020, of 1.68 million US ...

ONRC: 24,851 authorised individuals and legal entities registered in first two months of 2021

Wednesday, April 7, 2021

 The number of registrations of authorised individuals and legal entities increased by 17.74% in the first two months of 2021 compared to the similar period of the previous year, to 24,851, of which 17,997 SRL (limited liability company), according to data centralized by the National Trade Register Office (ONRC).The areas in which most registrations have been made are wholesale and retail; repair of motor vehicles and motorcycles - 5,721 (plus 23.8%), ...

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