The Bucharest Stock Exchange (BVB) Group reported a net profit of RON 2.96 million for the first quarter of 2024, by 68 percent or RON 1.2 million higher from the prior year period, amid the upward dynamics started in 2023 after the listing of energy company Hidroelectrica, but also due to ongoing projects, show the consolidated financial results released on Thursday.BVB Group's consolidated operating profit in Q1 2024 reached RON 2.25 million, up by 132 percent year-on-year, as a direct effect of the revenues achieved in the transactions segment, and also backed by the positive trend of revenues in the post-transaction and register segments.Consolidated operational revenues increased by 34 percent or RON 4.4 million year-on-year to RON 17.25 million, mainly due to developments in the trading activity, with a direct impact also on the post-transaction business; this had a lasting positive effect on trading and settlement volumes, starting in H2 2023, with the listing of Hidroelectrica.Consolidated operating expenses were 26 percent up in Q1 2024 to RON 15 million, as a result of the growing inflation, the increase in personnel expenses determined by the enforcement of the Group-wide pay policy, as well as in third-party service expenses and other operational expenses, following the implementation of the projects approved at Group level.The consolidated net financial income was RON 1.27 million in Q1 2024, up 11 percent compared to Q1 2023, mainly as a result of the Group-wide increase in interest income, while provision expenses from expected credit loss were higher due to the increase in the CDS rate, but also in financial placements and cash assets.
The Romanian Parliament's Chamber of Deputies greenlit a request from opposition parties Alliance for the Union of Romanians (or AUR), SOS Romania, and the Party of Young People (or POT) to establish an inquiry commission into the October 17 explosion at the residential building in southern Bucharest. Three people died in the blast, which was […]
Two new studies centering on Romanians’ purchasing habits in connection with the yearly discount event known as Black Friday show a starkly different image compared to previous years. The findings suggest Romanians traded impulsivity for strategic planning. According to the latest Cargus survey conducted among 1,036 urban respondents, seven in ten Romanians are tracking desired […]
Colorful foliage, tranquil surroundings, and plenty of nature to explore: from mountain towns to wine-country escapes, we've selected below several options for an autumn break. Buzău Land This area, located in the southeastern part of the country, in the Carpathian bend, has been a UNESCO Geopark since 2022. It's a completely rural area that offers […]
Beyond Business School, founded by serial entrepreneurs Andra Ghibuțiu and Grégoire Vigroux, today announced the launch of the 3rd edition of its executive program in Bucharest. Designed for ambitious professionals ready to accelerate their careers, the program combines internationally accredited courses, hands-on business training, and direct access...
The sound of jazz will once again fill Oradea this November as the ORA Jazz Festival returns for its sixth edition, bringing together artists from across Europe and beyond. The festival will take place between November 14 and 16 at the Oradea State Philharmonic and the Sion Neolog Synagogue. This year’s edition features performers from […]
Allianz-Țiriac Asigurări announces the appointment of Codruța Furtună, currently Sales and Distribution Director, as Deputy Chief Executive Officer. The nomination has been approved by the Financial Supervisory Authority (ASF) and will be registered with the National Trade Register Office. Codruța Furtună will continue to oversee the Sales and Distribution area in Allianz-Țiriac, playing a key […]
