Money Buzz! Europa

Category: Prague

  • 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.

  • Skoda to recall more than 14,000 of its Kodiaq and Karoq SUVs for service

    Skoda to recall more than 14,000 of its Kodiaq and Karoq SUVs for service

    Skoda will recall some of its Kodiaq and Karoq SUVs for service due to a possible brake pedal failure. All cars are manufactured in 2020 and have automatic transmission.

    The recall targets more than 14,000 models in several countries, including 1,700 in the Czech Republic.

    Skoda warns that a similar problem could be registered with the Audi, Seat and Volkswagen brands, and more than 60,000 vehicles will be checked globally.

    Skoda delivered just over one million vehicles last year, up from 1.24 million units in 2019.

  • More than 750,000 Skoda vehicles rolled off the production lines in Czechia last year

    More than 750,000 Skoda vehicles rolled off the production lines in Czechia last year

    Despite a 39-day production shutdown, 753,013 vehicles rolled off the production lines at the Mladá Boleslav and Kvasiny sites in The Czech Republic.

    The Skoda Octavia was the front-runner with 187,000 units produced.

    Skoda produced a total of around 480,000 vehicles from the Fabia, Scala, Octavia, Octavia iV, Kamiq, Karoq and Enyaq iV series at the Mlada Boleslav plant.

    In addition, the car manufacturer produced 411,000 engines, 383,000 manual transmissions of the types MQ 200 and MQ 100, 76,000 high-voltage traction batteries and 1,511,000 axles at this site last year.

    The company invested 32 million euros in the production of the new ENYAQ iV, which began at the end of November.

    Each day, the assembly line will produce between 250 and 350 units of the all-electric SUV.

    The Kvasiny plant produced around 270.000 units. Apart from the Skoda Superb and the Superb iV with plug-in hybrid drive, the Kodiaq and Karoq SUV models as well as the Seat Ateca were also built here. 

  • 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.

  • Shops in the Czech Republic will be forced to sell mainly local food

    Shops in the Czech Republic will be forced to sell mainly local food

    Czech MPs passed an amendment on Wednesday forcing shops with an area of ​​at least 400 square meters to sell mainly local food, starting next year.

    According to this measure, Czech food products will have to represent at least 55% of the sales of these stores.

    Moreover, the share of local food would increase to 73% in 2028, according to the amendment passed by the far-right ”Freedom and Direct Democracy” (SPD) party.

    The quota only applies to food that can be produced in the Czech Republic.

    The Czech economic daily Hospodarske noviny reported on Wednesday that eight EU countries, including Germany and France in particular, have criticized the amendment on the quota for local food.

  • Eurohold to acquire the subsidiaries of CEZ Group in Bulgaria

    Eurohold to acquire the subsidiaries of CEZ Group in Bulgaria

    The Bulgarian Energy and Water Regulatory Commission (EWRC) granted approval to Eurohold Bulgaria for the acquisition of the Czech energy company CEZ Group’s subsidiaries in the country.

    The deal includes 67% of the power utility CEZ Distribution Bulgaria and the power supplier CEZ Electro Bulgaria, as well as 100% of the shares of the licensed electricity trader CEZ Trade Bulgaria, IT services company CEZ ICT Bulgaria, solar park Free Energy Project Oreshetz, biomass-fired power plant Bara Group and CEZ Bulgaria that coordinates and manages all CEZ Group’s subsidiaries in Bulgaria.

    Eurohold will acquire CEZ Group’s business in Bulgaria through its subsidiary and specially set up Eastern European Electric Company B.V. (EEEC).

    The next stage in the acquisition process will be to sign financing agreements and transfer of the shares.

    Eurohold will finance the acquisition through a combination of equity and borrowed capital provided by leading global investment banks.

  • Mixit, the ‎custom muesli manufacturer,‎ expanded to Romania

    Mixit, the ‎custom muesli manufacturer,‎ expanded to Romania

    Mixit, the Czech company that produces personalized breakfast muesli and lyophilised fruit, expanded to Romania just before Christmas.

    This is the fifth market for Mixit, after the launch in Czech Republic (2010), Slovakia (2013), Poland (2014) and Hungary (2019).

    The expansion will help the company reach a 21% growth in 2021.

    In Romania, Mixit will offer a range that is similar to the other markets where the brand is active. The distinctive offer of the company is the possibility to create an individualized mix of muesli, lyophilised fruit and nuts.

    In addition, clients may choose from a range that includes some of the brand’s best-selling products.

    However, the offer for the Romanian market will be extended to include chocolates, protein drinks or chocolate creams.

    In the Czech market, the company is very well-known and generates the largest revenues (in 2020, it generated 78% of the total sales of 14,500,000 euros).

    ”We foresee the Romanian market will make 5-10% of the sales, by the end of 2021.There is no similar product on the market at this point in time, that would offer personalized muesli products”, says Martin Wallner, Mixit co-founder.

  • A Czech city is relying on its own currency to boost the local economy

    A Czech city is relying on its own currency to boost the local economy

    The city of Kyjov in the southeast part of Czechia will launch its own currency, called ”corrent”, in a project designed to help local companies affected by the closures imposed in the context of the Covid-19 pandemic, AFP reports.

    People of Kyjov will receive money that they can spend in local shops, restaurants or cinemas.

    This new currency name is the result of a merger between the words coronavirus and currency.

    In a pilot project, 2,000 volunteers from Kyjov will each receive 400 corrents, the equivalent of 400 Czech crowns (15 euros) that they will be able to spend in the shops, restaurants and cinemas that take part in this project.

    When making payments, customers will cover half of the amount in corrents and the rest in Czech crowns.

    ”Every citizen will have an electronic wallet. The trader will use an Internet site on which he will write the citizen’s code and will cut the amount in the corrent”, explained economist Pepe Rafaj, who designed the project in March last year while in quarantine.

  • 80% sales growth for Bonami on Black Friday

    80% sales growth for Bonami on Black Friday

    Bonami has seen an increase of 80% in sales, in Romania and of 100% on the other markets where the company is present.

    Total sales made during the duration of the promotions, including Cyber ​​Monday, reached 6 million euros overall, of which 800,000 euros in Romania.

    Between November 27th and 29th, and on Cyber ​​Monday, the sales were higher than on the Romanian Black Friday weekend, 4 million euros versus 2 million euros, with the same trend being confirmed on the Romanian market, (500.000 euros versus 300,000).

    The largest order made in Romania had a value of 9500 euros.

    The highest online traffic was reached Sunday afternoon and night, the trend withstanding both periods with special Black Friday promotions.

    Compared to an ordinary November day, online traffic rose by 150%. Romanians prefer ordering through the mobile phone, while in all other countries where Bonami is present, the orders were made using desktop.

    ”During the two promotional periods we succeeded in selling 35.000 products in Romania, out of a total of 250.000 on all markets”, said Pavel Vopařil, CEO of Bonami.

  • Average wage in Czechia increased by 1.7%, in real terms, in Q3 2020

    Average wage in Czechia increased by 1.7%, in real terms, in Q3 2020

    In Q3 2020, the average gross monthly nominal wage per full-time equivalent (FTE) employee in Czechia increased by 5.1% compared to the corresponding period of the previous year.

    In real terms, it increased by 1.7%. The median wage was CZK 31,183.

    The average gross monthly nominal wage per FTE employee in the national economy was CZK 35,402, which is by CZK 1,716 more than in the corresponding period of 2019.

    In the aforementioned period of 2020, consumer prices increased by 3.3% and thus wages increased by 1.7% in real terms.

    The wage volume increased by 1.9% and the number of employees decreased by 3.1%.

    Compared to the previous quarter, the seasonally adjusted average wage increased by 5.8% in the Q3 2020.

    In the period from Q1 2020 to Q3 2020, the average wage reached CZK 34,611; in the year-on-year comparison, the increment was CZK 1,188 (3.6%).

    Consumer prices increased for the aforementioned period by 3.3%; the wage increased by 0.3% in real terms.

  • Czechia: Unemployment rate at 2.9% in October 2020

    Czechia: Unemployment rate at 2.9% in October 2020

    Unemployment rate of the aged 15–64 years in Czechia reached 2.9% in October 2020 and increased by 0.9 p.p., year-on-year.

    The male unemployment rate, seasonally adjusted, attained 2.5%; the female unemployment rate reached 3.4%.

    Employment rate of the aged 15–64 years reached 74.0% in October 2020 and decreased by 1.2 percentage point (p.p.) compared to that in October 2019.

    The male employment rate was 81.0%; the female employment rate was 66.6%, both seasonally adjusted.

    The employment rate of persons aged 15–29 years, seasonally adjusted, was 45.6%, in the age group 30–49 years it attained 86.4%, and in the age group 50–64 years it got to 76.7%.

  • Czechia could stop using coal for electricity production in 2038

    Czechia could stop using coal for electricity production in 2038

    A special unit set up by the Czech government recommended that the country to stop using coal in 2038, DPA reports.

    2038 is a compromise solution, said the Czech Minister of Industry, Karel Havlicek, during the presentation of the final report, adding that two other possible dates were discussed: 2033 or 2043.

    Environmental NGOs have called for faster disposal of fossil fuels and doctors have signed a petition warning of the consequences of air pollution.

    Environmental activists who have been picketing the Czech Ministry of Industry and Environment since November 16 have called for the removal of coal by 2030 at the latest.

    Currently, coal-based power plants are responsible for 50% of electricity production in Czechia.

    Coal is to be replaced by renewable energy sources as well as current and new nuclear reactors.