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.
TEKUNI, a program dedicated to students and young entrepreneurs, was launched in Timișoara through a pilot project, with a future goal of nationwide expansion. The program offers a complete training path, structured into 7 modules that cover all stages of building a startup: from idea validation and MVP development to branding, marketing, legislation, finance, leadership, […]
The Romanian capital will be in the spotlight at the festival Un Week-end à l'Est, which runs in Paris until December 1. The event, which aims to present the artistic, literary, and intellectual richness of an Eastern European city, has previously focused on Warsaw, Odessa, Kyiv, Sofia, or Budapest. At its ninth edition, it is […]
Romanian tax agency ANAF has sued former president Klaus Iohannis in order to recover the loss of use of half of a property in the center of Sibiu. “The action represents a continuation of the steps that ANAF has taken for the recognition of the state’s ownership right and the recovery of compensation determined by […]
Romania will face Turkey in the semi-final of the World Cup qualifying play-offs, with the match scheduled to take place away from home on March 26 next year, Biziday.ro reported. A win would send the national team into the play-off final on March 31, where it would meet the winner of the Slovakia–Kosovo match. Romania […]
An exhibition showcasing various depictions of the traditional Romanian blouse ia, including Henri Matisse’s iconic La Blouse Roumaine, is opening this weekend in Bucharest, while Cluj is entering festive mode with...
Mercenary Horațiu Potra, who faces charges of attempting to undermine constitutional order in Romania, is being flown back to Bucharest under police escort after authorities in the United Arab Emirates approved his extradition,
