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 famous show "Ovo" ("egg" in Portuguese), created in 2009 by Cirque du Soleil, is scheduled for April 23–26, 2026, at BT Arena in Cluj-Napoca. So far, the classic Cirque du Soleil show has delighted over 7 million spectators in 40 different countries. Despite its age, it has been reimaged, with a new set, acrobatic […]
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Low-cost airline Wizz Air announced a major expansion of its operations in Bucharest, adding a second aircraft to its base at Băneasa Airport starting this October. The airline will relocate nine routes from Otopeni to Băneasa, five of which will be operated exclusively from the secondary airport. At the same time, six new routes will […]
The annual inflation rate in Romania rose to 5.7% in June, up from 5.45% in May, according to data published on Friday, July 11, by the National Institute of Statistics. It is the highest level this year. The consumer price index, compared to May, was 0.45%. The inflation rate from the beginning of the year, […]
A taxi driver who refused to pick up a passenger at Bucharest’s Henri Coandă International Airport on Thursday night, citing the rule that prohibits the second car in line from leaving the queue, was fined and had his professional license suspended, according to the Romanian Police. Local news channel Digi24...
Local authorities in Buzău County, in the south-east of Romania, announced the opening for traffic of the new bridge over the Buzău River on Friday, July 11. At over 1.3 km in length, it is the second-longest road bridge in the country and is part of the Lot 1 Buzău – Vadu Pașii of the […]
