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.
The fund Cultura Face Bine, a national funding mechanism for cultural projects backed by private-sector financing, will begin supporting local cultural organizations in 2026. The fund aims to support grassroots cultural initiatives with a proven impact in their communities and which need resources to continue, develop, or transform their activities. The funding mechanism has been […]
The European Commission (EC) announced on Thursday, December 11, that it is referring Romania to the Court of Justice of the European Union (CJEU) for failing to meet obligations under Ambient Air Quality Directives. According to the Commission, Romania has not ensured that its national air quality monitoring network complies with legally required standards on […]
The Bucharest Court of Appeal (CAB) held an unprecedented press conference on Thursday, December 11, in response to allegations raised in a recent media investigation published by Recorder, with court president Liana Arsenie firmly rejecting the claims. However, at the start of the press event, a judge from within the institution publicly stated that the […]
Romania’s Superior Council of Magistracy (CSM) issued its first response to the Recorder documentary alleging systemic manipulation within the justice system, calling the investigation an amplification of a “campaign to destabilize judicial authority.” The council said on Thursday, December 11, that it will evaluate what measures need to be taken following the report. In a […]
MedLife, Romania’s largest private medical services network, announced on Wednesday, December 10, that it reached a market capitalization of EUR 1 billion on the Bucharest Stock Exchange (BVB). The milestone secures its position as “the most valuable healthcare company” in the country. The achievement came nine years after MedLife’s listing on BVB in December 2016, […]
The Buzău Land UNESCO Global Geopark in Romania has become a “living laboratory” this week as a team of American researchers arrived to study microorganisms capable of surviving in extreme environments. The scientists, part of the interdisciplinary research organisation The Two Frontiers Project, are examining methane seeps, sulfur and petroleum springs, saline sources, and other […]
