Romanian real estate leasing company Practic [BSE:PRBU] said on Monday it recorded a net profit of 26.9 million lei ($5.8 million/5.4 million euro) in 2023, down from 37.8 million lei in the previous year. Practic's net turnover increased to 42.3 million lei last year, from 37.8 million lei in 2022, the company said in a statement filed with the Bucharest Stock Exchange, BVB. Practic attributed the growth in turnover to multiple factors, such as maintaining the occupancy rate of its streetside commercial spaces around the 98% mark, diversifying its tenant mix, and identifying solutions for renting out office buildings located in non-optimal areas. The company's EBITDA decreased to 34.3 million lei in 2023, from 48.5 million lei in the previous year. Practic owned totat assets worth 481.7 million lei at end-2023, making for a rate of return on assets of 5.58%, down from 7.61% a year earlier. Total liabilities stood at 44.8 million lei, for a solvency ratio of 10.75, up from 10.09 in 2022. Practic was founded in 1962 as a state-owned company that managed food stores in Bucharest. The company was privatised in 1990 and started trading on the BVB in 1996. Practic’s shares last traded on March 22, closing 10.43% lower at 1,030 lei on the Bucharest bourse.
Graffiti Plus (GRF+), active in Romania's communication consulting market, has signed the contract for the National Recovery and Resilience Plan (PNRR) funding for its listing on the AeRO market of the Bucharest Stock Exchange (BVB). GRF+ is also preparing to launch the private financing round it is conducting as a first step toward its debut […]
The wooden church from the village of Oncești, one of the oldest monuments in the heritage of the Maramureș Village Museum “Mihai Dăncuș” in Sighetu Marmației, has been restored. The church has now returned to the tourist circuit through the support provided by the US Ambassadors Fund for Cultural Preservation, in a project coordinated by […]
The Bucharest Stock Exchange (BVB) announced the establishment of its Corporate Governance Committee on Thursday, December 4, to support the implementation of the revised 2025 BVB Corporate Governance Code. Romania’s capital market recently celebrated 30 years of activity and is undergoing significant corporate governance reform. The revised BVB Corporate...
Daniel Băluţă, the mayor of Bucharest's District 4, signed the order to start work on the extension of the M4 subway line on Thursday, December 4. The investment is valued at EUR 3.5 billion and the route will be 11 kilometers long, between Gara de Nord and Gara Progresul railway stations. The extension will have 14 […]
Ten entrepreneurs and executives have launched Food Angels Hub, a community of investors dedicated to the food sector. The aim of the hub is to “develop and scale functional and profitable companies in the food, hospitality and food-tech sectors” and “turn Romania into a reference point for food innovation in the CEE region.” The founders […]
Romanian developer IULIUS announced that it secured a syndicated loan facility amounting to over EUR 305 million for its Palas Iași mixed-use complex. The financing is provided by a consortium made up of Erste Group Bank Austria, BCR, Raiffeisen Bank Romania, and Raiffeisen Bank International Austria. The loan will support the remodelling of Palas Iași […]
