Romanian online retailer Elefant.ro, a small-sized player on the local market, reported a modest increase in revenues and deep RON 3.79 mln (EUR 0.76 mln) losses in January-June this year, compared to thin RON 0.47 mln net profit in the same period of the year before, according to a company's statement filed to Bucharest Stock Exchange (BVB) where its bonds are traded. The company's officials hope that the customers will return online after spending their holidays outdoors, with a visibly negative impact on e-commerce. "The year started with a robust growth in e-commerce, which then gradually diminished after the relaxation of restrictions. Beginning in May, Romanians focused their consumption more on holidays, restaurants, shows, and convenience stores. We see this market correction as on a transitional one, and we expect a return of the increase of online consumption starting with September," said Sergiu Chirc?, general manager of Elefant.ro, according to Bursa.ro. The report regards the financial situation of Elefant Online S.A., the company that issued the bonds, under national accounting procedures. Its revenues increased marginally from RON 102.4 mln (EUR 20.5 mln) to RON 104.4 mln (EUR 20.9 mln). The company's payroll surged from RON 6.46 mln to RON 8.33 mln, and the value of the outsourcing contracts advanced as well from RON 17.5 mln to RON 20.9 mln. In another statement, Elefant Group reports (under IFRS) tripling of its losses to RON 4.55 mln (EUR 0.9 mln) in January-June 2021, from RON 1.66 mln losses in the same period of 2020. Group's total revenues increased from RON 103.5 mln to RON 107.2 mln. The better financial indicators this year were mainly stimulated by attracting a larger number of unique visitors to the site, the company explains.
Some dinners are eaten. Others are remembered. At Corinthia Grand Hotel du Boulevard, the past few months have unfolded like a quiet culinary opera. One by one, Europe’s most celebrated chefs arrived, took over the kitchen of Boulevard 73 and left behind more than menus; they left stories. Now, on December 4, the curtain falls. […]
HORIZON CITY, a €130 million residential project, is emerging as one of the most solid and forward-thinking developments in the Pipera area—both through its scale and through the modern direction it sets for the new residential standards in the north. Developed across nearly 23,000 sqm, with 699 apartments and 926 parking spaces, the project brings […]
Romania’s National Forest Administration, or Romsilva, announced that it is putting over 16,000 Christmas trees up for sale over the winter in a press release published on Thursday, November 27. The trees can be purchased directly from the offices of the forestry districts. Prices range between RON 17 (EUR 3.3) for a spruce...
Lot 3 Pietroasele–Buzău of Romania's A7 highway, also known as the Moldova highway, was inaugurated on Thursday, November 27. The newly inaugurated segment is 13.9 km long. The A7 connects Romania’s historic regions of Muntenia, the southern part of the country, with Moldova, the eastern part. “We are opening another 13 km of the Moldova Motorway […]
The City Hall of Sinaia, a popular mountain town roughly 120 km north of Bucharest, announced that a new attraction, the alpine coaster on Pârtia Nouă, will officially open on December 1. The installation, located in the ski area near the Sinaia Gondola, features what the authorities say is the longest track of its kind […]
The Romanian national team debuted with a victory in Group A of the Women’s Handball World Championship, organized in the Netherlands and Germany. Romania won 33–24 (13–12) against Croatia in the Ahoy Arena in Rotterdam on Thursday, November 27. The Romanian team dominated the match in the second half, left backer Sorina-Maria Grozav scoring 7 […]
