Google Romania ups revenues by a quarter

Google Bucharest SRL, the Romanian subsidiary of American technology group Google, increased its turnover by 27% in 2014, to EUR 2.84 million. The company’s net profit went up by 75% compared to 2013, to almost EUR 200,000, according to official financial statements published by the Finance Ministry. Google’s Romanian subsidiary had 12 employees last year, one more than in 2013. The company does marketing for Google in Romania but doesn’t do any direct sales. The advertising revenues that Google makes in Romania with its AdWords service are billed by the group’s European subsidiary in Ireland. Google’s revenues from online advertising in Romania reached some EUR 23 million in 2014, accounting for 45% of the total market, according to a recent report media strategy firm Initiative Media. Google almost quadrupled its revenues in Romania since 2010, from about EUR 6 million, the same report shows. Google and Facebook take more than half of Romania’s online advertising Google established its local subsidiary in 2008. editor@romania-insider.com