Money Buzz! Europa

Category: Warsaw

  • Hungarian MOL Group acquires 417 petrol stations in Poland

    Hungarian MOL Group acquires 417 petrol stations in Poland

    The Hungarian MOL group acquires 417 petrol stations from PKN Orlen and Lotos Group in Poland.

    As a result of this USD 610 million transaction, MOL could become the third largest player on the Polish fuel distribution market.

    In order for the transaction to be approved, MOL must sell 185 fuel stations in Hungary and Slovakia to PKN Orlen for USD 259 million.

    The transferred assets will include 144 fuel stations in Hungary and 41 stations in Slovakia.

    Hungarian petrol company operate 2,390 fuel stations in Europe under five different brands.

  • Polish online retailer Allegro to take over Mall Group from Czechia

    Polish online retailer Allegro to take over Mall Group from Czechia

    Allegro, Poland’s largest online trading platform, announced that it had reached an agreement to take over online retailer Mall Group from Czechia.

    The value of the transaction is around 881 million euros as Reuters reports.

    Allegro would take over the Mall Group’s e-commerce assets and the courier company WeDo from Rockaway Capital, PPF Group and EC Investments.

    The final price of the transaction could be increased by up to 50 million euros, depending on the Mall Group meeting certain short-term objectives.

    https://moneybuzz.ro/pentru-romani-schimbarile-climatice-au-impact-asupra-vietii-lor-zilnice/

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    Merging Allegro and Mall Group will give rise to a company that will operate in Czechia, Republic, Slovakia, Hungary, Slovenia, Croatia and Poland.

    Buyers will have acces to an improved offer, prices and proximity, and over 135.000 merchants will be able to list their products on a single platform.

    Allegro has become the largest company on the Warsaw Stock Exchange, but will have a bigger competition after Amazon launched its Poland local website this year.

    Amazon’s entry in Poland is likely to change and stimulate the growth of the local e-commerce market, which is expected to reach USD 25 billion in 2024.

  • Polish group LPP doubles its warehouse space in Romania

    Polish group LPP doubles its warehouse space in Romania

    LPP has proceeded to expand its Fulfilment Centre warehouse near Bucharest. Completion of the works is scheduled for Q3 2021.

    The warehouse, which handles online orders of LPP brands, will gain an additional 21,000 m2.

    The expanded warehouse, with a total area of 42,000 m2, will eventually serve not only online orders from Romania, but also from neighbouring countries.

    The new facility will also carry out cross-dock operations to supply the LPP brick and mortar stores network in Romania and Bulgaria, which currently comprises a total of over 100 stores.

    LPP plans to launch online sales in Bulgaria later this year.

    LPP has an e-commerce warehouse currently under construction in Russia and the distribution centre in Brześć Kujawski.

    Upon completion of all three facilities, the group’s total warehouse space will increase by 50%, i.e. from the current 253,000 m2 to 378,000 m2.

  • Globalworth net operating income increased by 6.5% to EUR 157.3 million

    Globalworth net operating income increased by 6.5% to EUR 157.3 million

    Globalworth net operating income increased by 6.5% to €157.3 million in 2020 and a total combined portfolio value which remained unchanged at €3.0 billion.

    The company took-up or extended / renegotiated 303.5k sqm of commercial spaces in portfolio of high-quality properties, representing c.25% of the total standing commercial GLA.

    The commercial occupancy remained high at 90.9% (91.7% including tenant options) as at year-end.

    Annualised contracted rent reached €183.4 million, of which 91.3% from office and industrial properties.

    Rate of collections for rents invoiced and due remained high at 99.0% for the year.

  • Amazon launched a local website in Poland

    Amazon launched a local website in Poland

    Amazon, the world’s largest online retailer, launched a website on Tuesday for customers in Poland, Reuters reports.

    Polish online commerce market has been stimulated by online shopping during the coronavirus pandemic, and Allegro, the largest local online commerce platform, has enjoyed a great debut on the Warsaw Stock Exchange.

    Following Amazon’s announcement, Allegro shares rose 2.4%.

    We are delighted with the launch of Amazon.pl. We will be able to offer Polish customers a selection of over 100 million products, including tens of thousands of products from local businesses, said Alex Ootes, Amazon’s vice president for expansion in Europe.

    Amazon has been active in Poland since 2014, with nine logistics centers, but customers were diverted to the German-language site.

    This move is likely to change and stimulate the growth of the Polish online commerce market, which is expected to reach $ 25.25 billion in 2024.

  • Varso Tower Warsaw set to become the EU’s tallest building

    Varso Tower Warsaw set to become the EU’s tallest building

    Varso Tower’s roof topped out at 230m to became the Poland’s tallest structure. After the addition of its 80m, 73 tonne spire it’s set to be the EU’s tallest building.

    Warsaw’s new architectural icon is now taller even than the skyscrapers of Frankfurt, Milan and Paris.

    The 53-storey, spire-topped office building was designed by the award-winning Foster+Partners and is owned by HB Reavis.

    Expected to complete in 2022, Varso Tower will have an inspirational lobby whose 10-metre high walls will be covered with a handmade ceramic mosaic.

    Panoramic lifts travelling at 8 m/s will then lead up to two public rooftop terraces among the highest in Europe, looking down on the Warsaw skyline from 205m and 230m.

    A panoramic restaurant will also stretch across floors 46-48.

    Varso Tower is the final building of the mixed-use Varso Place development, featuring offices, a hotel, innovation hub and retail spaces in downtown Warsaw.

  • Poland to raise the upper age limit for people being given the AstraZeneca vaccine

    Poland to raise the upper age limit for people being given the AstraZeneca vaccine

    Poland will raise the upper age limit for people being given the AstraZeneca vaccine to 69 and will take COVID-19 patients from Slovakia, Reuters reports.

    The upper age limit for the AstraZeneca vaccine had previously been 65.

    A number of European countries have set upper age limits for the AstraZeneca vaccine, mostly at 55 years old.

    3,163,856 vaccine doses were administered in Poland by February 26, at a daily rate of 86,694. This means an average 8.33 doses per 100 people.

  • Payment delays between companies in Poland have shortened to 48 days

    Payment delays between companies in Poland have shortened to 48 days

    Average payment terms for Polish businesses were 48 days in 2020, 9 days less than in 2019, Coface reports.

    Payment delays are common practice in Polish companies, only 2.4% of companies reported that they had not experienced any payment delays.

    11% of the companies recorded a cumulative total of receivables delayed for more than six months and equivalent to more than 10% of annual turnover (compared to 16% a year earlier).

    The Polish economy contracted by 2.8% in 2020, but Coface estimates that it will grow by 4% in 2021.

    Despite various liquidity support measures (tax and social security exemptions and deferrals), 43% of companies have not benefited from any form of assistance.

    But, after the phasing out of aid measures planned for 2021, two-thirds of companies expect their business activities to deteriorate this year.

  • Raben Group revenues exceeded 1.26 billion euro in 2020. Big investments in Poland

    Raben Group revenues exceeded 1.26 billion euro in 2020. Big investments in Poland

    Raben Group has finished the previous year with the revenues exceeding 1.26 billion euro, and new investments in Europe.

    The main industries served by the company in 2020 were food (30%), consumer technologies (21%), automotive (17%), retail (12%) chemicals (11%), non-food FMCG (9%).

    In the European logistics network, road transport accounted for the largest part of services provided by Raben Group (66%), followed by contract logistics (13%), FTL (8%), Fresh Logistics (8%), Lead Logistics Provider (4%) and finally Sea&Air (1%).

    Poland generated the highest revenue in Raben Group last year

    In April, Raben Logistics Polska moved its depot in Olsztyn to a new location and in June, the first operations started in Adamów, where the company is running a central warehouse for Makro at Panattoni Park A2.

    The 33,000 m2 facility utilises many innovative solutions which increase not only process efficiency, but also employee safety.

    The automatic sorting system created thanks to effective cooperation with the customer is particularly noteworthy. It is one of the first and most modern sorters of this type in Europe.

    The second half of the year was also marked by the construction of new facilities in Silesia – a 50,000 m2 distribution centre in Ruda Śląska and additional warehouses in Sosnowiec.

    In November, the company opened a location in Legnica, where a dedicated contract logistics project for Ahlers AG Group is run in the 11,000 m2 facility leased at Panattoni Legnica Park.

    Fresh Logistics Polska, which specialises in logistics of fresh products in controlled temperatures, also invested a lot in 2020.

    Thus, the company invested in modern warehouses with a total area of 16,000 m2 in Wojanowo and Nowa Wieś Wrocławska.

    After the completion of the project, Fresh Logistics has a total warehouse capacity exceeding 55,000 m2 dedicated to the storage of fresh food products.

    The new investments allow for the storage of goods which require various temperature ranges from 0°C to +15°C, and for providing additional services such as co-packing and labelling.

    Moreover, they allow for storing frozen products and performing transloading operations of container units.

  • Chopin and Vera Wang to launch the first vodka-fashion collaboration ever

    Chopin and Vera Wang to launch the first vodka-fashion collaboration ever

    Chopin Vodka, a Polish luxury vodka brand and designer Vera Wang will release a limited-edition collaboration, Vera Wang x Chopin.

    The project will launch in the spring of this year in the United States.

    Hand-crafted from farm to bottle, Vera Wang selected a special variety of young potato for Vera Wang x Chopin that has never been on the market. 

    The limited-edition collaboration will be available for presale on March 8 exclusively on ChopinVodka.com at 10 a.m. EST.

    It will be available in the weeks following in select retailers throughout the US for a suggested retail price of $99 (1 liter).

    Chopin is a boutique, family-owned, distillery that crafts artisanal spirits and liqueurs.

  • Polish developer Scallier to open six Funshop retail parks in Romania

    Polish developer Scallier to open six Funshop retail parks in Romania

    Polish developer Scallier will bring to Romania the Funshop Park concept, a chain of commercial parks that will be built in several small and medium-sized cities in the country.

    The developer wants to open six commercial galleries by 2022, with a leasable area of ​​over 40,000 square meters.

    Funshop Park Moșnița Nouă (Timișoara)

    In the commune near Timișoara, Scallier will build a commercial gallery of 10,601.49 sqm, on a land with a total area of ​​22,360 sqm.

    Funshop Park Timișoara has the Lidl and Penny supermarkets as main anchors, 200 parking spaces and will open until the end of the year.

    Funshop Park Roșiorii de Vede

    The shopping center in Roșiorii de Vede will have a total area of ​​6,500 sqm and as the main anchor a Lidl store with an area of ​​2,200 sqm.

    Funshop Park Roșiorii de Vede is located on Carpați Street, no. 132, very close to the train station and will be inaugurated in the third quarter of the year.

    Funshop Park Focșani

    The retail park in Focșani will have an area of ​​5,000 square meters, 92 parking spaces and will be open by the end of the year.

    Funshop Park Focșani has as anchor a new Lidl store and is located on Bârsei Street, no. 15, near the train station.

    Funshop Park Hunedoara

    The commercial park from Hunedoara will be built on Mihai Vitezul Street, no. 1, next to Lidl.

    With an area of ​​6,260 square meters and 163 parking spaces, Funshop Park Hunedoara will open in the first quarter of next year.

    Funshop Park Vaslui

    The retail park will be built near the Kaufland store on Decebal Street, will have an area of ​​9,975 square meters and 280 parking spaces.

    Funshop Park Vaslui will open in the first quarter of 2022.

    Funshop Park Turda

    The sixth local Scallier project will open in Turda in the first quarter of next year.

    Located near Kaufland, Calea Victoriei, no. 39, Funshop Park Turda will have a leasable area of ​​9,082 sqm and approximately 270 parking spaces.

  • Several private media outlets in Poland stopped broadcasting

    Several private media outlets in Poland stopped broadcasting

    Several private media outlets in Poland stopped broadcasting on Wednesday in protest of a project to introduce a tax on advertising revenue, Reuters reports.

    A new tax on advertising revenue, which varies between 2 and 15% depending on the size of the company, is quickly passed by the Warsaw Parliament.

    The Polish government says the tax will help raise funds for health and culture, areas affected by the coronavirus pandemic.

    TVN24 and Polsat News broadcast a special message instead of the usual programs, while TVN24, Onet and Interia blocked access to online articles.

    Also, radio stations such as RMF FM, ZET, TOK FM and Rock Radio also joined the protest and sent a special message instead of the usual programs.