The net profit of Romanian energy group OMV Petrom (BVB: SNP) plunged by 61% y/y to RON 4 billion (EUR 804 million) in 2023 amid a combination of lower hydrocarbon and electricity production, lower utilization rate of the refinery and lower prices on the markets for power and petroleum products.
Furthermore, the company's 2023 profit and loss statement includes the one-off element "solidarity contribution" (RON 2.7 billion) for the years 2022 and 2023.
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AQUILA (BVB: AQ), the market leader in the field of integrated distribution and logistics services for consumer goods in Romania and the Republic of Moldova, reported an 11% increase in revenues in the first quarter of 2024 compared to the same period last year, to RON 624 million (EUR 125 mln). However, the company’s net […]
Emil Sâncrăian and Bogdan Haș, two former managers in top companies in the pharma and medical device industry, have started a business that will bring new perspectives to the medical industry in Romania. The two entrepreneurs have set up Global Med Care, a project that promises to redefine standards in the Romanian medical field. Focusing […]
Romanian prime minister Marcel Ciolacu stated during Thursday's government meeting that "some retailers have reduced product quantities but kept prices equally high.” He asked state authorities and regulators to conduct checks into the matter. The executive will also implement regulations following the French model, with visible indications of quantity reductions and modifications in terms of […]
New mortgage loans worth approximately EUR 1.1 billion were granted in the first three months of 2024, up about 29% compared to the level of Q1 2023, according to a market report released by financial consultant SVN Romania | Credit & Financial Solutions. Refinancings, conversions, transfers, and restructurings were excluded from this volume. In total, […]
The European Bank for Reconstruction and Development (EBRD) and the Bucharest Stock Exchange (BVB) will work together to review the Romanian market’s corporate governance code, aligning it with recent regulatory changes and updated global standards. The initiative is designed to help listed companies improve their governance and reporting quality. The reviewed Code will be aligning […]
Thing, the beloved character on Netflix’s hit show Wednesday, will be played by Romanian actor Victor Dorobanțu in season 2 as well. The first season of the show was shot in Romania, but production for the second season moved to Ireland. Thing was chosen by the production team to be the "influencer" sharing all the […]
