The companies’ budgets confirm the forecast of a positive trend of the economy in 2012 and investor optimism that has driven the BET index up 20% since the beginning of the year.
Those to have budgeted significant growth are pharmaceutical companies (Zentiva, Antibiotice and Biofarm), drug distributors (Ropharma Brasov and Remedia Deva), as well as some companies in the construction sector, which expect the first rebound after three years of decline.
As for very large companies budgets vary, because some of them expect significant growth, while others took a more conservative approach and budgeted slight decline in revenue.
Rompetrol Rafinare (RRC.RO), which operates the Petromidia refinery, built its budget around 23% growth, while OMV Petrom (SNP.RO), the largest local company, expects revenue to shrink by 4.6% in 2011.
The two banks listed on the Bucharest Stock Exchange, BRD (BRD.RO) and Banca Transilvania (TLV.RO), expect operating income and loan portfolios to increase, too.
(English version by Loredana Fratila-Cristescu)