Fondul Proprietatea (hereinafter “The Fund”) published today its financial results for the first three months ended on 31 March 2022 and would like to share the following highlights: The Fund’s share price registered a strong performance in the first three months reaching a price of RON 2.11 at 31 March 2022, a record high value which implied a trading discount of 4.26%, based on the latest NAV available at the date of the calculation. The profit realized by Fondul Proprietatea in the first three months of 2022 was RON 826.1 million. The main contributor to the profit recorded in the first quarter of 2022 was the net gain from equity instruments at fair value through profit or loss amounting to RON 821.2 million, generated by the valuation update for Hidroelectrica, net off by the negative share price evolution of the Fund’s listed holdings (mainly coming from OMV Petrom SA). The Adjusted NAV per share as at 31 March 2022 was 3.73% higher than the 31 December 2021 NAV per share of RON 2.2624. The high increase in liquid assets at 31 March 2022 compared with 31 December 2021 are due to the cash inflows from the partial disposal of the Fund’s holding in OMV Petrom SA (RON 978.3 million) and from the Ministry of Finance on 1 February 2022, as payment of the unpaid shares held by the Romanian State in Fondul Proprietatea (RON 189.2 million), net of by the cash outflow related to the dividend distribution paid to shareholders in February 2022 (RON 320.6 million). The net increase on equity investments of RON 821.2 million during the first 3 months of 2022 was principally due to the increase in the value of unlisted holdings by RON 883.5 million following Hidroelectrica SA valuation update process during the quarter, net of by the negative share price evolution of OMV Petrom SA (only for the holding classified as equity investments), with a total impact of RON 49.0 million, share price decrease of -5.8%. Other liabilities decreased by 78.2% compared with 31 December 2021 following payments performed for the third special dividend distributions approved on 15 December 2021 with payment date on 18 February 2022. For more detailed information on the financial results for Q1 2022 please consult the report on www.fondulproprietatea.ro or www.bvb.ro.
The 16th edition of Les Films de Cannes, the festival showcasing productions awarded or selected at the Cannes film festival, returns this fall to Bucharest and four other cities in the country. The winner of this year's Palme d'Or, Jafar Panahi's It Was Just an Accident, will be screened at the event, as will be […]
Răsvan Angheluţă Natural Sciences Museum in Galaţi is scheduled to reopen on September 20, after the completion of modernization works worth over 15.1 million lei (approximately EUR 3 million) carried out by the County Council through the recovery and resilience facility PNRR. The building hosts an Aquarium, an Astronomical Observatory, a Planetarium, and temporary exhibitions. […]
A team of Romanian paramedics won first place at the World Rescue Challenge 2025, a competition that sees first responders and trauma teams from around the world develop new skills and share knowledge. This year, the competition took place in Karlovac, Croatia, and was attended by two Romanian paramedics from Bucharest who have been working […]
Artmark, one of Romania’s leading auction houses, registered record sales of over EUR 15 million despite economic instability, showing the growth potential of the national art market, according to the company’s 2024-2025 market report. Overall, auction sales totaled EUR 11 million, up 8.2% compared to the previous year, while sales through the “Dependent de Artă” […]
Cybersecurity has become a major global priority, impacting individual users, companies, organizations, and public institutions. Social engineering, deepfakes, digital manipulation, and coordinated geopolitical attacks are fundamentally reshaping how we view the digital future. In this context, DefCamp, the largest cybersecurity and hacking conference in Central and Eastern Europe, reaffirms its role as a strategic hub […]
Romanian airline AnimaWings has received its fifth Airbus aircraft, an A220-300, as part of an ambitious expansion plan to build a fleet of 18 planes by the end of 2027, valued at over USD 1 billion. The A220-300 is the airline’s third of this type and will serve both domestic and international routes. Configured with […]
