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Andrei Chirileasa
Editor-in-Chief

Andrei studied finance at the Bucharest Academy of Economic Studies and started his journalism career in 2004 with Ziarul Financiar, the leading financial newspaper in Romania, where he worked for ten years, the last six of which as editor of the capital markets section. He joined the Romania-Insider.com team in 2014 as editor and became Editor-in-Chief in 2016. He currently oversees the daily content published on Romania-Insider.com and likes to stay up to date with everything relevant in business, politics, and life in Romania. Andrei lives with his family in the countryside in Northern Romania, where he built their own house. In his free time, he studies horticulture and tends to his family’s garden. He enjoys foraging in the woods and long walks on the hills and valleys around his village. Email him for story ideas and interviews at andrei@romania-insider.com. 

 

The Capital Markets News section is sponsored by the Bucharest Stock Exchange 

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Hidroelectrica and OMV Petrom boost Fondul Proprietatea’s profit in H1

Fondul Proprietatea (FP), the biggest investment fund in Romania, recorded a net profit of RON 1.8 bln (EUR 367 mln) in the first half of this year, compared with losses of RON 849 mln in the same period of 2020.

The main contributors to the profit were the net unrealized gains from the fund’s investments in OMV Petrom (RON 244 mln) and Hidroelectrica (RON 910 mln).

Oil and gas group OMV Petrom (SNP), which is listed on the Bucharest Stock Exchange, recorded a share price increase of 17% in the first half of this year, while energy producer Hidroelectrica, which is not yet listed, recorded a significant increase in valuation due to solid revenue and profit growth in the first half.

The fund also recorded a gross dividend income of RON 655 mln in the first six months, mainly from its stakes in Hidroelectrica and OMV Petrom. However, the dividend income was significantly lower than in the first half of last year (RON 1.15 bln).

Fondul Proprietatea’s net asset value (NAV) per share increased by 13.8% in the first half of this year, while its shares offered a total return of 32.9% in the same period, including the gross special dividend of RON 0.072 per share.

The fund also boasts a historic milestone in H1 as the share price at the end of June surpassed its NAV per share, which means that the fund was trading at a premium for the first time since its listing on the Bucharest Stock Exchange in early 2011.

Fondul Proprietatea is managed by the American group Franklin Templeton.

andrei@romania-insider.com

(Photo source: Dreamstime.com)

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Profile picture for user andreich
Andrei Chirileasa
Editor-in-Chief

Andrei studied finance at the Bucharest Academy of Economic Studies and started his journalism career in 2004 with Ziarul Financiar, the leading financial newspaper in Romania, where he worked for ten years, the last six of which as editor of the capital markets section. He joined the Romania-Insider.com team in 2014 as editor and became Editor-in-Chief in 2016. He currently oversees the daily content published on Romania-Insider.com and likes to stay up to date with everything relevant in business, politics, and life in Romania. Andrei lives with his family in the countryside in Northern Romania, where he built their own house. In his free time, he studies horticulture and tends to his family’s garden. He enjoys foraging in the woods and long walks on the hills and valleys around his village. Email him for story ideas and interviews at andrei@romania-insider.com. 

 

The Capital Markets News section is sponsored by the Bucharest Stock Exchange 

BVB

 

Hidroelectrica and OMV Petrom boost Fondul Proprietatea’s profit in H1

Fondul Proprietatea (FP), the biggest investment fund in Romania, recorded a net profit of RON 1.8 bln (EUR 367 mln) in the first half of this year, compared with losses of RON 849 mln in the same period of 2020.

The main contributors to the profit were the net unrealized gains from the fund’s investments in OMV Petrom (RON 244 mln) and Hidroelectrica (RON 910 mln).

Oil and gas group OMV Petrom (SNP), which is listed on the Bucharest Stock Exchange, recorded a share price increase of 17% in the first half of this year, while energy producer Hidroelectrica, which is not yet listed, recorded a significant increase in valuation due to solid revenue and profit growth in the first half.

The fund also recorded a gross dividend income of RON 655 mln in the first six months, mainly from its stakes in Hidroelectrica and OMV Petrom. However, the dividend income was significantly lower than in the first half of last year (RON 1.15 bln).

Fondul Proprietatea’s net asset value (NAV) per share increased by 13.8% in the first half of this year, while its shares offered a total return of 32.9% in the same period, including the gross special dividend of RON 0.072 per share.

The fund also boasts a historic milestone in H1 as the share price at the end of June surpassed its NAV per share, which means that the fund was trading at a premium for the first time since its listing on the Bucharest Stock Exchange in early 2011.

Fondul Proprietatea is managed by the American group Franklin Templeton.

andrei@romania-insider.com

(Photo source: Dreamstime.com)

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