Romania’s AROBS Transilvania gets 13 mln euro loan for Enea Services acquisition

Some 0.5 million euro of the credit will be used to cover some of AROBS’ treasury transactions, the company said in a report filed to the Bucharest Stock Exchange on Monday.

The credit was awarded by Citibank’s Romanian branch and is due at the end of May 2027.

AROBS Transilvania said in April it is acquiring Enea Services Romania, a Swedish-owned software company, for 17.9 million euro.

Founded in 1998, AROBS Transilvania Software is an IT company focused on developing custom software for a range of industries, such as automotive, IoT, travel & hospitality, life sciences, or FinTech.

In May, AROBS announced it booked 14.9 million lei ($3.2 million/3 million euro) in net profit in the first quarter of 2022, up 14% on the year.

In October, the company raised 74.2 million lei through a private placement on the Bucharest bourse.

According to a preliminary financial report available on the company website, AROBS recorded a net profit of 43.6 million lei in 2021, up 8% on the year, while its turnover rose 10% on the year to 169.3 million lei.

AROBS shares traded flat at 0.96 lei/share at 1505 CET on Tuesday, on the Bucharest bourse.

(1 euro = 4.9426 Romanian lei)