Fondul Proprietatea ended H1 2024 with a net profit of RON 212.9 million, compared to a loss of RON 680.3 million in the similar period of 2023, a company report informs."The Fund's liquid assets during H1 2024 included current accounts and bank term deposits. All instruments were denominated in RON, with maturities of up to one year. The most important cash inflows during H1 2024 were related to the proceeds from disposal of the entire stake in Engie Romania SA (RON 432.6 million) and the interest received (RON 26.2 million), while the most significant cash outflows were related to net dividends paid (RON 287.1 million), dividend withholding tax payments performed (RON 44.2 million) and the acquisition of treasury shares within the 15th buyback programme (RON 27.9 million). The net increase in equity investments of RON 66.9 million in H1 2024 was mainly generated by the valuation update as of June 30, 2024 (mostly CN Aeroporturi Bucuresti SA and Administratia Porturilor Maritime SA). As of June 30, 2024, the payable to shareholders comprised the dividends payable to shareholders, of which the most significant amounts are related to the September 29, 2023 special dividend distribution (RON 357.9 million)," the report states.At the same date other liabilities and provisions mainly comprised the withholding tax on dividends due to the state budget (RON 15.5 million) and Q2 2024 fees payable to the Sole Director (RON 9.9 million).Gross dividend income was mainly generated by the amounts recorded from CN Aeroporturi Bucuresti SA (RON 80.4 million) and Societatea Nationala a Sarii SA (RON 63.7 million).The gain from equity investments at fair value through profit or loss in H1 2024 was mainly generated by the valuation update as of June 30, 2024 for the largest unlisted holdings in the Fund's portfolio, mainly CN Aeroporturi Bucuresti SA (increase of RON 46.8 million) and AdministratiaPorturilor Maritime SA (increase of RON 21.1 million).Interest income in H1 2024, in amount of RON 19.5 million, arose from short term deposits and distribution bank accounts.
The countdown is on until the start of the largest local fest, Transilvania International Film Festival on 13 June. Or, as everyone calls it: TIFF. To pass the time and (or) have an alternative, do not miss some of the most entertaining stories of all time courtesy of suspense master Alfred Hitchcock. And check out […]
Roughly 45.7% of Romanians believe the country’s May presidential elections were rather unfairly organized, while 50.4% believe they were fair, according to a survey by INSCOP Research. Romania's previous presidential elections, which saw centrist Bucharest mayor Nicusor Dan emerge victorious, saw extreme polarization. Immediately after...
CARFIL Brasov, central Romania, is set to begin production of three types of Romanian military UAVs this year, news agency Agerpres reported. The drones, named Cuda, Sirin, and a marine drone, were unveiled at the Southeast Europe Special Operations Forces Forum 2025 (SEESOF) in Targu Mures, the first international expo-forum dedicated to the special operations forces. ...
The National Meteorological Administration of Romania, or ANM, aims to become a European regional hub for professional training in the field of climate change, according to director general Elena Mateescu. The official noted during “The Future of Agriculture” forum held on Thursday, June 5, that the ANM has already completed the European Agrometeorology Center, which […]
Romania’s Interior Ministry (MAI) and Defense Ministry (MApN) have warned of ongoing disinformation campaigns on social media aimed at manipulating public opinion. The latest wave of false claims includes reports about the imposition of martial law and border closures, seeking to heighten public anxiety over the risk of war. Romanians, whether abroad or within the […]
The International Monetary Fund (IMF) issued new recommendations to Romania, among which is an increase in VAT, but also excise duties, dividend taxes, and the introduction of two income tax rates of 15% and 25%. At the same time, it recommends the reduction or elimination of the health insurance contribution, as well as a change in […]
