Money Buzz! Europa

Category: Business

  • Bonami, increase in sales of 19 million euros compared to 2019

    Bonami, increase in sales of 19 million euros compared to 2019

    • Bonami recorded, despite the pandemic, an increase in sales of 19 million euros compared to 2019.
    • The company plans, for 2021, additional investments and the launch of its own brands.

    The increase, compared to last year, was over 40% and the turnover reached 70 million euros, of which 10 million made in Romania.

    EBITDA, unaudited, was 209% higher than in 2019.

    We have invested almost 3 million euros in increasing the capacity of warehouses, transport, technology, marketing and, last but not least, in our physical stores, opening 6 units this year, said Pavel Vopařil, CEO of Bonami.

    Bonami plans to develop its own transport solution, which is already in use in three countries (Czech Republic, Slovakia, Hungary), on all markets

    The warehouses will be further expanded in 2021, doubling its area, from 10,000 sqm to 20,000 sqm.

    A novelty will also be the Bonami private labels, which customers will be able to recognize in the categories of interior, exterior  furniture and decorations.

  • 78% of CCC sales in January 2021, generated via online channels

    78% of CCC sales in January 2021, generated via online channels

    • CCC ended the fourth quarter of 2020, which included January 2021, with sales broadly unchanged year on year.
    • Revenue for the period, at PLN 2 bn.

    Amid the prolonged lockdowns across the group’s markets, e-commerce grew 84% year on year, with over 78% of sales generated via online channels in January alone.

    Revenue for the full-year 2020/21 (13 months) was PLN 5,6bn, of which 48% was e-commerce sales (up 71% yoy). Year on year, sales fell just 3%.

    E-obuwie remains CCC’s power engine

    55% contribution of online to revenue reported in the fourth quarter of 2020/21 was an unprecedented result in CCC’s operating history.

    E-obuwie remains the power engine of our e-commerce business, with fourth-quarter sales at PLN 919m (up 69% yoy) and EBITDA margin at 8,9% (up 2,7pp yoy).

    The group’s other e-commerce platforms (ccc.eu, DeeZee, Gino Rossi) accounted for 16% of online sales in the fourth quarter of 2020/21, compared with 9% a year earlier.

    Each recorded a triple-digit growth in sales, and ccc.eu alone saw its sales surge 353% year on year. 

    Clothing range is gaining traction

    Modivo grew 137% yoy, delivering PLN 268m in revenue for the full year 2020 (a five-fold increase on the previous year).

    Sales of DeeZee clothing, launched in December, account for 16% of total sales (up 9p.p. month-over-month).

  • Enel revenues down 15.3 billion euros last year compared with 2019

    Enel revenues down 15.3 billion euros last year compared with 2019

    Enel revenues amounted to 65.0 billion euros, down 15.3 billion euros (-19.1%) compared with the 80.3 billion euros posted in 2019.

    The change is mainly attributable to lower revenues in end-user markets, caused by lower sales of gas and electricity in Spain and Italy, mostly due to the effects of the COVID-19 outbreak.

    EBITDA amounted to 17.9 billion euros, in line with 2019. 

    The number of employees at the end of 2020 was 66,717 (68,253 at the end of 2019).

    During 2020, the Enel Group produced a total of 207.1 TWh of electricity (229.1 TWh in 2019), distributed 484.6 TWh on its networks (507.3 TWh in 2019[3]) and sold 298.2 TWh (322.0[4] TWh in 2019).

    Outside Italy, the Enel Group produced in 2020 164.6 TWh of electricity (182.2 TWh in 2019), distributed 271.0 TWh (279.6[5] TWh in 2019) and sold 208.0 TWh (224.5 TWh in 2019).

  • Essent sells Belgian subsidiary to Luminus

    Essent sells Belgian subsidiary to Luminus

    Dutch energy supplier Essent and Belgian energy company Luminus entered into an agreement regarding the sale of Essent’s Belgian commodity supply business.

    The parties have agreed not to disclose the purchase price.

    The transaction is subject to the approval of the European Commission and is expected to close during Summer 2021. Essent is currently supplying more than 500,000 electricity and gas customers in Belgium.

    Essent is a 100-percent subsidiary of E.ON, Luminus is a 68.6%-subsidiary of EdF, the remaining stake is held by municipalities and regional bodies. 

  • OMV to sell its business in Slovenia, where it operates 120 gas stations

    OMV to sell its business in Slovenia, where it operates 120 gas stations

    OMV announced on Thursday the sale of the business in Slovenia, where it operates 120 gas stations, under the OMV, Eurotruck, Avanti and Diskont brands.

    With its limited integration within the Downstream oil value chain, the divestment of this business represents a further step in OMV’s portfolio optimization.

    This transaction is a new step in optimizing OMV’s portfolio and is part of the second package of assets put up for sale.

    Also, OMV’s subsidiary Borealis has decided to start a process of divesting its nitrogen business unit including fertilizer, technical nitrogen and melamine products.

    The company’s share in fertilizer production sites in The Netherlands and Belgium (“Rosier”) is not presently being considered within the potential sales process. 

  • Ryanair reports Q3 loss of €306m as traffic falls by 78%

    Ryanair reports Q3 loss of €306m as traffic falls by 78%

    Ryanair reported a Q3 loss of €306m, compared to a PY Q3 profit of €88m. Q3 traffic fell from 36m to just 8m (-78%).

    Despite the results, In Dec., Ryanair increased its firm order for the B737-8200 ”Gamechanger” aircraft by 75 to 210 aircraft. 

    These environmentally friendly aircraft have 4% more seats, but burn 16% less fuel and lower noise emissions by 40%.

    Christmas & New Year traffic was severely impacted by UK travel bans imposed at short notice by many EU Govts on 19 & 20 Dec. 

    These flight bans, and travel restrictions, saw the Ryanair’s Dec. traffic fall by 83% to just 1.9m passengers. 

    Ryanair expects the latest lockdowns and pre-arrival Covid test requirement to materially reduce flight schedules and traffic through to Easter. 

    The group’s full-year (FY21) traffic forecast was therefore reduced to ”between 26m to 30m” passengers.

    The Covid pandemic has caused the closure of EU airlines including Flybe, Germanwings, Level and Montenegro Airlines.

    Norwegian has already entered a creditor protection examinership and Eurocontrol predicts more EU airline failures in 2021.

  • Somfy’s turnover in Romania grew by over 30% last year at EUR 2.8 million

    Somfy’s turnover in Romania grew by over 30% last year at EUR 2.8 million

    Somfy Romania registered a turnover of 2.8 million euros in 2020, an increase by 30% compared to the previous financial year.

    The positive results, above the initial estimates, are due to the accelerated growth of sales in the second half of the year for the main product categories in the portfolio: motorised and automated systems for roller blinds, curtains and awnings.

    Globally, Somfy Group’s sales reached 1,257.1 billion euros in 2020, an increase of 6.1% compared to the previous year.

    After Amazon Alexa, Google Assistant and IFTTT, from December 1, 2020, Somfy connected solutions have also become compatible with the Apple Home Kit.

    In 2020, Somfy expanded globally, including in Romania, the partnership with three representative companies in complementary industries: Assa Abloy, Danfoss and Schneider Electric, within the Connectivity Ecosystem project.

    Currently, over 50% of Somfy products sold globally are ecologically designed, and in Romania this share is over 70%.

  • Dairy and cheese manufacturing sector in Romania, 5% increase in 2019

    Dairy and cheese manufacturing sector in Romania, 5% increase in 2019

    A new study conducted by Coface on the Romanian sector of ”Dairy and Cheese Manufacturing” (NACE 1051) shows a positive evolution of revenues in 2019, +5% compared to 2018, with a slightly higher profitability.

    The results are based on 494 companies that submitted their financial situation for 2019 (as of September 2020) and generated a consolidated turnover of RON 5.4 billion.

    The weight of the cumulative market share held by the most important 10 players is 66%.

    Approximately 34% of the companies registered a net loss at the end of 2019, 18% of the companies having recorded a loss higher than -20% and 10% of them a profit over 20%.

    Most of the companies analyzed by Coface (62%) are classified as low risk companies.

    The companies operating in this sector registered a current liquidity of 1.52 during 2019, the working capital being exposed to negative shocks, in a context of volatility (lower revenues or non-collection of receivables).

    The average duration of debt collection in the analyzed sector decreased from 63 days, the level registered in 2015, to 48 days in 2019.

    Production of milk and dairy products increased in 2019

    According to INS data, the production of milk and dairy products increased in 2019, the largest increase being for drinking milk (8%).

    For the period august 2019 – august 2020, in terms of the amount of milk collected for processing, the largest amount was recorded in June 2020, 108,979 tons.

    Also, the quantity of raw milk imported by the processing units increased by 24,160 tons (+28.2%), in the period January-October 2020 compared to the same period in 2019.

    In regard to dairy products obtained, for the same period, production increases were reported for: butter with 928 tons (+10.8%), drinking milk with 24,655 tons (+9.1%) and cheese with 1,286 tons (+1.6%).

  • Austrian Post in 2020: 30% rise in national parcel volumes, CEE parcels up by 27%

    Austrian Post in 2020: 30% rise in national parcel volumes, CEE parcels up by 27%

    Austrian Post parcel volumes showed a positive development of +30 % in Austria, +27 % in the CEE region and +47 % in Turkey.

    The volume of addressed letter mail fell by 7 % year-on-year, compared to a 5 % decrease in media post.

    The decline even reached a level of 12 % for direct mail items, due to the substantial impact of the lockdown measures in many sectors.

    Group revenue of Austrian Post increased by 8.3 % in 2020 to EUR 2,189m. The Turkish company Aras Kargo, fully consolidated since 25 August 2020, also contributed to growth with revenue of about EUR 100m.

    Revenue in the Mail Division accounted for EUR 1,222m (-7.4 %), in the Parcel & Logistics Division EUR 914m (+44.4 %; +28.4 % excl. Aras Kargo) and in the Retail & Bank Division EUR 65m (-19.7 %).

  • Smartwings carried only 1.8 million passengers last year, an 81.5% drop

    Smartwings carried only 1.8 million passengers last year, an 81.5% drop

    Smartwings recorded a steep decline in the number of passengers last year due to the unprecedented situation in the aviation industry caused by the COVID-19 pandemic.

    The group carried more than 1.3 million passengers on its regular lines and charter flights under its Smartwings and CSA brands, which was 83.7% fewer than in the previous year.

    Other 451 thousand passengers traveled on board Smartwings aircrafts operated on ACMI wet lease agreements with other carriers.

    Smartwings operated 13.5 flights last year (-78.4%), with Smartwings nd CSA branded aircraft landing at 263 airports around the world.

    The airline operated its flights not only from the Czech Republic but also from France, Poland, Hungary, Slovakia, and Canary Islands.

    Smartwings’s fleet includes 47 airplanes.

  • Romanian tech company Tremend opens an office in Luxembourg

    Romanian tech company Tremend opens an office in Luxembourg

    Tremend, one of the fastest-growing tech companies in the CEE region opens an office in Luxembourg, strengthening its position in the Benelux area.

    The new office will be coordinated by Ștefan Morcov, who will take the role of Managing Director of Tremend Benelux.

    He joined Tremend in 2018, as a Senior Partner and has been involved in setting up new business units, such as eLearning and international public sector institutions.

    Ștefan Morcov brings 20 years of experience in software engineering, management, and business development, including with the European Commission, to the role.

    ”Tremend Benelux will focus on European Union projects, but also on solutions for the private sector, from various industries such as eCommerce, retail, and telecom”, says Ștefan Morcov, Managing Director, Tremend Benelux.

    The Luxembourg office will also reach customers from neighboring countries such as Belgium, France, Germany, and the Netherlands.

    The new branch will continue to focus on growing the portfolio of projects with the European Commission and other international institutions.

    In 2020, 13.5% of the company’s turnover came from projects for the European Commission. Tremend also estimates 7 million EURO revenues from this vertical in 2021. 

    Tremend was founded by Ioan Cocan and Marius Hanganu in 2005, following their own practical experience in Silicon Valley. The company reported a 20 million euro revenues for 2020.

    It currently operates offices based in Belgium, Luxembourg, UK and the USA and two development centers in Romania. 

  • Portuguese EAD, provider of archives digitalization solutions, enters the Romanian market

    Portuguese EAD, provider of archives digitalization solutions, enters the Romanian market

    EAD, Empresa de Arquivo de Documentação, one of the largest Portuguese companies in the field of digital archiving, comes to Romania, the first foreign market in which the company expands its activity, and appoints Bruno Amaro as Country Manager.

    EAD brings to the Romanian market its own document management and workflow (DMS) application, called Read, Write & Share (RWS) available in SaaS form (Software as a Service), which can be adapted to the needs of each organization.

    Bruno Amaro, Country Manager of EAD Digital says ”According to market studies, there is a direct correlation between the number of a country’s population and the volume of existing documents (archive boxes). Romania has around 20 million archive boxes (29 billion pages) of which it is estimated that 10% will be scanned (2.9 billion) and managed electronically. As for the attractiveness of the market, the figures speak for themselves”.

    In Romania, EAD Digital offers Business Process Outsourcing (BPO) services, for scanning and optimizing document-based processes (digital workflows), but also virtual mail-room and cloud storage solutions.

    The portfolio of EAD Group includes over 500 top international companies, such as Vodafone, Nestlé, Renault, BBVA, Janssen, Johnson’s, Abbott, Generali, Otis, Oracle, BNP, Cepsa.